INDUSTRIAL ENERGY EFFICIENCY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Industrial Energy Efficiency Market, By Offering (Equipment (Pumps, Motors, Fans, Compressors, Heating, Ventilation, Air Conditioning, Refrigeration, Others), Systems (Distributed Control Systems, Supervisory Control and Data Acquisition Systems, Energy Management Systems, Utility Control Systems, Building Automation Systems, Others), Services, System Optimization & Maintenance, Consulting & Training, Others), Software & Solutions), By End-use Industry (Oil & Gas (Upstream, Midstream, Downstream), Power (Power Generation, Power Transmission & Distribution), Mining, Pulp & Paper, Food & Beverage, Petrochemical & Chemicals, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Industrial Energy Efficiency Market Regional Insights

North America is the largest market for industrial energy efficiency, accounting for a share of 35.4% in 2023. The growth of the market in North America is driven by the stringent government regulations on energy efficiency, the increasing adoption of smart grid technologies, and the growing demand for energy-efficient products and services from industrial companies.
Europe is the second-largest market for industrial energy efficiency, accounting for a share of 28.2% in 2023. The growth of the market in Europe is driven by the increasing focus on renewable energy sources, the rising awareness about the benefits of energy efficiency, and the growing demand for energy-efficient products and services from industrial companies.
Asia Pacific is the fastest-growing market for industrial energy efficiency, accounting for a share of 24.4% in 2023. The growth of the market in Asia Pacific is driven by the rapid industrialization in the region, the increasing demand for energy-efficient products and services from industrial companies, and the supportive government policies.

Figure 1. Global Industrial Energy Efficiency Market Share (%), by Region, 2023