The global weatherization services market value to grow with a year-on-year growth of 4.0%, reaching US$ 35 Billion by the end of 2022. Weatherization enhances energy efficiency while lowering energy usage, saving money on energy bills and improve the comfort of home.
The report’s findings indicate that the market will expand gradually over the projected period, propelled by increasingly onerous laws that demand the use of insulation materials to lower building energy consumption.
In its most recent study, “Weatherization Services Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2022–2028,” published by Future Market Insights, the company analyses the weatherization services market and provides crucial insights for the next ten years.
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Global Weatherization Services Market: Dynamics
Global population expansion is causing a constant increase in demand for construction materials for both residential and non-residential buildings, which is speeding up the recovery of the construction industry. The demand for weatherization services will consequently increase globally. The U.S. Department of Energy (DOE) is aware of the great potential for enhancing the comfort, safety, and energy efficiency of current American houses.
A typical American home uses between 50% and 60% of its total energy for heating and cooling (also known as air conditioning). Hence, one of the key factors driving the demand for insulation installations and, subsequently, the expansion of the weatherization services market is the increasing usage of insulation in residential or home structures.
Energy resources are limited, every unit saved is equivalent to every unit produced and this is where the role of efficient weatherization services comes into play. An array of initiatives are being taken up by various states and federal governments across the globe to reduce CO2 emissions. More importantly, growing public awareness about climate change has proliferated the need for renewable energy systems and reduced energy waste.
This factor is positively impacting the Global weatherization services market. Further, to curb carbon dioxide emissions, the use of lightweight insulation materials with promising mechanical properties, such as stiffness, rigidity, elevated temperature durability and chemical resistance, is expected to increase. Thus, in order to gain a competitive edge, key players are likely to invest significantly to develop high-performance insulation products in the weatherization services market.
Global Weatherization Services Market: Segmentation Overview
- On the basis of application, the sidewall insulation segment dominates the global weatherization segment market. While the segment is projected to lose market share to the attic insulation segment by the end of THE forecast period, it is yet expected to maintain its prominence during the forecast period. Foam insulation is expected to be the prime material preferred for various applications and its popularity will be followed by the popularity of fibreglass for various applications in the global weatherization services market
- On the bases of construction type, the weatherization services market has been segmented into new construction and retrofit segments. The new construction segment dominated the Weatherization services market in 2017 and is expected to gain further traction owing to the steady growth of the construction industry
- On the bases of end-use, the weatherization services market has been segmented into residential and commercial & institutional. The commercial & institutional segment is expected to witness 1.5X growth in the global weatherization services market over the forecast period.
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Global Weatherization Services Market: Regional Overview
Western Europe, followed by North America, dominated the global weatherization services market in 2017. However, over the course of the forecast period, the Western Europe weatherization services market is estimated to lose its dominance to the North America weatherization services market. North America and Western Europe are collectively expected to account for over half of the global weatherization services market. Further, the top 5 countries in the Weatherization services market account for about half of the overall market. The weatherization services market is expected to witness significant growth in developing economies over the forecast period.
Global Weatherization Services Market: Vendor Insights
The report highlights some of the leading companies operating in the global weatherization services market, such as TopBuild Corp, Insulated building products, Inc., Builders FirstSource, Inc., Takashima & Co., Ltd., Dyson Energy Services Ltd., HomeWorks Energy, Inc., USA Insulation, Banker Insulation and Anderson Insulation.
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Global Weatherization Services Market by Category
By Application:
- Attic Insulation
- Sidewall Insulation
- Floor Insulation
- HVAC
- Doors & Windows Frame
- Others
By Type:
- Retrofit
- New Construction
By End Use:
- Residential
- Commercial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- MEA
- China
- SEAP
- Japan & Korea
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