monitor, and manage energy data. According to the International Energy Agency, the global energy intensity, i. e. the amount of energy utilized per unit of GDP, improved by 1.8 % in 2015 and this industry is estimated to witness double digit growth in the near future; the commercial sector is expected to account for major share of the growth. Favorable support from regulatory bodies and government institutions is likely to drive the industrial energy efficient services market. However, economic & financial, regulatory, and Informational barriers may impede the implementation of energy efficient measures.
Based on service, the energy efficient market can be segmented into energy auditing & consulting, product & system optimization, and monitoring & verification. The energy auditing and consulting segment accounted for the major share of the industrial energy efficient services market in 2015. The segment is anticipated to dominate the market during the forecast period, led by the increase in governmental efforts to mandate companies to undertake energy audits and comply with energy efficient standards. In terms of region, North America held the prominent share of the industrial energy efficient services market in 2015, driven by the energy efficient initiatives in the region and rise in need to enhance energy consumption to achieve development goals. China leads the industrial energy efficient services market in Asia Pacific, driven by its 13th five year plan to achieve energy efficiency standards. The country is estimated to attract further investment in the sector considering the sheer size of its domestic energy usage. China has also developed stringent and energy efficient Monitoring and Verification( M & V). This segment is projected to witness significant growth during the forecast period.
The global industrial energy efficient services market is highly competitive due to the presence of a large number of regional and global vendors. Key players operating in the industrial energy efficient services market are Siemens, Honeywell, TERI, DuPont, Dalkia, ENGIE, Getec, Johnson Controls, Schneider Electric, SGS, and Wood.
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