Top 50 Global Companies in Energy Retrofit Systems Market 2025: Strategic Overview & Future Trends (2024–2035)
RELEASE DATE: Aug 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Energy Retrofit Systems Market Size is projected To Grow from USD 173.4 Billion in 2024 to USD 353.7 Billion by 2035, at a CAGR of 6.7% during the forecast period 2025–2035. The France Energy Retrofit Systems Market is in demand due to increasing energy prices, environmental issues, old and inefficient infrastructure, government subsidies, and the need for sustainable solutions for residential, commercial, and industrial facilities.
Introduction
The Global Market for Energy Retrofit Market Size systems refers to retrofitting existing infrastructure and buildings for improved energy efficiency and energy saving. It incorporates upgraded insulation, HVAC, LED lighting, intelligent energy management systems, and renewable energy integration. Used across residential, commercial, and industrial markets, energy retrofits lower utility bills, reduce carbon footprint, and improve building performance. Principal market drivers are increasing energy demand, escalating energy prices, aging facilities, and heightened awareness of environmental sustainability. The market is supported by strengths such as cost savings proven by experience, technological innovations, and mounting utilization of smart systems. Opportunities increase with the push towards net-zero buildings, urbanization, and the demand for sustainable development in developing economies. The U.S. Department of Energy describes that energy retrofits generally involve one or more energy-efficiency measures (EEMs) that are designed to maximize occupant comfort and lower energy consumption. Government policies are leading the way with many countries adopting policies such as energy efficiency requirements, green building codes, financial incentives, and carbon reduction goals. These initiatives, combined with increasing green regulations, are compelling building owners and facility managers to invest in energy retrofitting, setting the market for sustained expansion in the future years.
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Energy Retrofit Systems Market Size & Statistics
- The Market Size for Energy Retrofit Systems Was Estimated to be worth USD 173.4 Billion in 2024.
- The Market Size is Going to Expand at a CAGR of 6.7% between 2025 and 2035.
- The Global Energy Retrofit Systems Market Size is anticipated to reach USD 353.7 Billion by 2035.
- Europe is expected to generate the largest demand during the forecast period in the Energy Retrofit Systems Market
- Asia Pacific is expected to grow the fastest during the forecast period in the Energy Retrofit Systems Market.
Regional growth and demand
Asia Pacific is expected to grow the fastest during the forecast period in the energy retrofit systems market. Asia-Pacific is the most rapidly expanding energy retrofit systems market based on high urbanization, mounting energy consumption, and growing environmental concerns. Increasing construction and infrastructure growth in economies such as China and India, and government drives on energy efficiency, are triggering high demand for retrofitting solutions.
Europe is expected to generate the largest demand during the forecast period in the energy retrofit systems market. Europe dominates the market for energy retrofit systems with high energy efficiency standards, high sustainability ambitions, and robust government incentives. Policy frameworks such as the EU Renovation Wave and comprehensive building codes fuel large-scale retrofitting in residential and commercial spaces, accelerating demand for sustainable upgrades.
Top 10 trends in the Energy Retrofit Systems Market
- Smart technology adoption
- Energy-efficient HVAC upgrades
- Health and wellness focus
- LED lighting retrofits
- Green building initiatives
- Renewable energy integration
- Digital twin technology
- Data-driven solutions
- Decarbonization and net-zero goals
- Government incentives and subsidies
1. Smart technology adoption
Smart technology adoption is revolutionizing energy retrofit systems by allowing real-time monitoring, automation, and optimization of energy consumption. With IoT devices, sensors, and AI-powered analytics, buildings are able to increase efficiency, identify faults early, and minimize energy loss, resulting in cost savings, improved performance, and more intelligent energy management in general.
2. Energy-efficient HVAC upgrades
Energy-efficient HVAC replacements are a prevalent trend in energy retrofit systems, substituting old heating and cooling systems with newer, low-energy systems. These systems minimize energy consumption, reduce utility bills, and increase indoor comfort, all of which are beneficial for improving building energy performance and sustainability.
3. Health and wellness focus
The wellness and health priority in energy retrofit designs targets better indoor air quality, illumination, and thermal comfort. Improvements such as increased ventilation, humid control, and non-toxic materials provide healthier conditions, enhancing occupant well-being as well as energy efficiency and compatibility with sustainable building practices.
4. LED lighting retrofits
LED lighting retrofits represent one of the leading trends in energy retrofit packages, substituting the inefficient lighting with energy-efficient LEDs. They help lower the electric power consumption, reduce maintenance costs, and increase lifespan. LEDs also improve lighting quality, enable smart controls, and provide overall building energy efficiency and sustainability objectives.
5. Green building initiatives
Green building projects adopt eco-friendly construction and retrofitting strategies, propelling the use of energy retrofit systems. They influence the utilization of energy efficiency, minimize emissions, and use environmentally friendly materials. Retrofitting of existing buildings is aligned with green certification to achieve environmental targets as well as increase building performance, value, and occupant health.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the energy retrofit systems market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 20 Companies Leading the Energy Retrofit Systems Market
- Ballard Power Systems
- Siemens AG
- PowerCell Sweden AB
- Schneider Electric SE
- ITM Power PLC
- Johnson Controls International
- Cummins Inc.
- General Electric (GE)
- Honeywell International Inc.
- Plug Power Inc
- ABB Ltd
- Exxon Mobil Corporation
- Emerson Electric Co
- Toshiba Corporation
- Nedstack Fuel Cell Technology BV
- Orion Energy Systems, Inc.
- Daikin Industries Ltd.
- ElringKlinger AG
- Eaton Corporation
- Mitsubishi Electric Corporation
1. Ballard Power Systems
Headquarters: Burnaby, British Columbia, Canada
Ballard Power Systems is in the energy retrofit systems sector, engaged in designing, manufacturing, and servicing proton exchange membrane (PEM) fuel cell products that provide zero-emission power. Their offerings provide power to heavy-duty applications, such as buses, trucks, rail, marine, and stationary power systems, and support building decarbonization efforts with clean, reliable backup power. Interestingly, Ballard also partners in strategic collaborations, e.g., with Vertiv, to manufacture hydrogen fuel-cell backup systems for data centers in support of net-zero ambitions in mission-critical infrastructure.
2. Siemens AG
Headquarters: Munich, Germany
Siemens is at the forefront of energy retrofitting through its Smart Infrastructure business. It offers retrofit solutions for buildings, industrial systems, and energy automation, replacing antiquated infrastructure with IoT, smart building control, HVAC optimization, and energy automation services. One such project is an agreement to retrofit 60 government buildings in the UAE with IoT sensors, AI analytics, and sophisticated BMS to drive energy and water efficiency, in support of decarbonization targets.
3. PowerCell Sweden AB
Headquarters: Västra Götaland, Sweden
PowerCell is involved in the design and production of hydrogen fuel cell stacks and systems, which power various applications such as telecommunications backup power, transportation, power generation, aviation, and marine markets. Their compact and modular fuel cell solutions, with the capability to use both clean and reformable fuels, produce electricity and heat while having only water as a byproduct. PowerCell enables the energy retrofit and decarbonization industry through the provision of turnkey system solutions, consultancy, installation, and integration services that facilitate buildings and infrastructure to switch to zero-emission energy systems and support clean, reliable, and sustainable retrofit projects.
4. Schneider Electric SE
Headquarters: Rueil-Malmaison, France
Schneider Electric SE is a world leader in digital automation and energy management. Schneider is an expert provider of innovative solutions for retrofit energy systems with the aim of improving the energy efficiency and sustainability of a building. Schneider Electric provides a one-stop suite of solutions that range from building management systems, power and energy management, microgrids, to smart electric vehicle (EV) charging infrastructure. Their EcoStruxure platform brings these solutions together to provide real-time monitoring, predictive maintenance, and optimization of energy use, which results in substantial carbon emissions and operational cost savings. Through the use of digitalization and automation, Schneider Electric enables organizations to make their buildings smart, sustainable spaces that work toward a net-zero future.
5. ITM Power PLC
Headquarters: Sheffield, England
ITM Power designs and manufactures Proton Exchange Membrane (PEM) electrolysers that generate green hydrogen from renewable electricity and water. Its modular products, such as TRIDENT, NEPTUNE, and POSEIDON, are applied to different applications like industrial decarbonization, power-to-X projects, and clean mobility solutions. These electrolysers are very important in energy retrofit systems as they allow for the integration of renewable energy sources and minimize the use of fossil fuels. ITM Power technology promotes the shift towards a low-carbon economy by having scalable and efficient solutions for hydrogen production.
Are you ready to discover more about the energy retrofit systems market?
The report provides an in-depth analysis of the leading companies operating in the global energy retrofit systems market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Ballard Power Systems
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Siemens AG
- PowerCell Sweden AB
- Schneider Electric SE
- ITM Power PLC
- Johnson Controls International
- Cummins Inc.
- General Electric (GE)
- Honeywell International Inc.
- Others.
Conclusion
The Energy Retrofit Systems Market Size focuses on the renovation of existing facilities to be energy efficient by using insulation, HVAC, LED lighting, and smart management systems. The important drivers are increasing energy prices, green consciousness, and aging infrastructure. Market leaders such as Schneider Electric and Siemens develop new solutions by combining IoT and renewable energy technology. Government policies and initiatives in green buildings also drive growth. Combined, these initiatives foster lower carbon emissions, expense reduction, and healthier, more sustainable communities, continuing to fuel the market's growth.
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