Zero Emission Buildings Market is a residential or commercial building with significantly reduced energy needs through efficiency gains such that the balance of energy needs can be offered with renewable forms. On the basis of grid connectivity, the global zero emission buildings market is segmented into off grid and on grid zero emission buildings. Grid connected buildings revert surplus energy to the grid whereas off grid buildings preserve the surplus energy.
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The key driving factors responsible for the growth of Zero Emission Buildings market :
Buildings possess a significant effect on energy use and environment which sum up to more than 50% of energy usage by commercial and residential buildings. Energy consumed by construction sector continues to grow mainly because of new buildings are erected faster than the old ones. Conceptually, zero emission buildings points towards sustainable energy development with certain goals. The laid goals and the way they are defined stand crucial to the design process.
At heart, a zero emission building is an illustration that enables the buildings to meet energy requirements from low-cost, locally available, non-polluting and renewable sources. At a certain level, zero emission buildings generate ample of renewable energy on site to equal or exceed its annual energy use. A grid connection enables necessary energy balances typically using traditional energy source such as electric and natural gas utilities when on-site generation does not meet the loads. Thus, achieving a zero emission building without a grid is impossible since the current generation of storage technologies stands limited.
The key driving factors responsible for the zero emission buildings market includes stringent government regulations to minimize fossil fuel dependency. Also, the governments now encourage the deployment of greenhouse gas capture and storage option. Additionally, inception of several schemes inclusive of financial assistance schemes, tax benefit schemes and subsidies to endorse renewable energy source which is anticipated to fuel the market growth during the forecast period.
On the basis of application, the global zero emission buildings market is segmented into commercial, residential and industrial zero emission buildings. Industrial segment is anticipated to grow during the forecast period owing to rise in infrastructure costs. On the basis of energy production technique, the global zero emission buildings industry is segmented into photovaltics and hybrid zero emission buildings.
On the basis of geographic segmentation, the global zero emission buildings market spans North America, Latin America, Europe, Middle-East, Asia-Pacific and Africa. APAC regions are anticipated to drive the market growth during the forecast period owing to rise in electricity demand along with rapid industrialization. Regions such as China, India, Singapore, Indonesia and Japan are the biggest spenders on infrastructure.
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Global Emission Control Catalyst Market size was 1,978 kilo tons in 2015.
Rising awareness towards reduction of carbon footprints along with stringent norms implemented by government towards reduction of harmful pollutants from industries and automotive combustion will create substantial demand for these catalyst in the near future.
Rising number of installation of catalytic converter by major automotive players including BMW, General Motors, Volkswagen and Ford Motors will create immense market potential over the forecast period.
Increasing automobile production in developing countries including China, India, Mexico and Iran will increase the product demand over the next eight years.
Presence of strict regulation norms regarding emissions in various developed countries including the U.S., and UK is expected to fuel product demand over the forecast period.
Volatility in platinum based catalyst prices owing to unavailability of noble metals is anticipated to hinder industry expansion over the upcoming years.
