Zero energy buildings (ZEBs) are a relatively new concept in the construction industry, but they’re quickly becoming an important part of the future of sustainable building design. A zero energy building is a structure that is designed and built to produce as much energy as it consumes over the course of a year, either through the use of renewable energy sources such as solar panels or wind turbines, or through the use of energy efficiency measures.
According to a new report published by Allied Market Research, titled, “Zero Energy Buildings Market,” The zero energy buildings market size was valued at $71.7 billion in 2021, and is estimated to reach $403 billion by 2031, growing at a CAGR of 18.7% from 2022 to 2031.
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The growth of the zero energy buildings market is being driven by a number of factors. For one, governments around the world are increasingly introducing policies and incentives that encourage the construction of more energy-efficient buildings. This is helping to drive demand for zero energy buildings, as they are often seen as an ideal way of meeting the energy efficiency requirements of these policies.
In addition, the rising cost of energy, coupled with the increasing availability of renewable energy sources, is providing further impetus for the growth of the zero energy buildings market. As the cost of energy rises, businesses and homeowners are increasingly looking for ways to reduce their energy bills. Zero energy buildings are often seen as an attractive option, as they can help to drastically reduce energy costs over the long term.
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The increasing adoption of green building standards is also helping to drive the growth of the zero energy buildings market. Governments around the world are introducing green building standards that require buildings to meet certain energy efficiency targets. Zero energy buildings are often seen as an ideal way of meeting these standards, as they can help to drastically reduce the energy consumption of a building.
Finally, the increasing awareness of the environmental benefits of zero energy buildings is also helping to drive the growth of the market. Zero energy buildings are seen as an ideal way of reducing the environmental impact of building construction, as they can drastically reduce the emissions of greenhouse gases. This is helping to increase demand for zero energy buildings, as more people become aware of their benefits.
Overall, the global zero energy buildings market is projected to experience strong growth in the years to come, driven by a number of factors. As governments continue to introduce policies and incentives that encourage the use of more energy-efficient buildings, and as the cost of energy rises, the demand for zero energy buildings is only set to increase.
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