New York, July 17, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe Energy Management Systems Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” – https://www.reportlinker.com/p06459647/?utm_source=GNW
The Europe Energy Management Systems market is expected to grow at a CAGR of 17.9% during the forecast period.Energy Management System (EMS) is not only limited to energy-saving efforts that are adopted to save the available energy but are also a wider concept to deal with the process of controlling, monitoring, and conserving energy in the public or government sector, businesses, organizations and even in residential buildings.
The different government initiatives implemented in Europe to reduce energy consumption and carbon footprint across different sectors are among the key factors driving the demand for energy management systems. For instance, the EU has set a goal to reduce CO2 emissions by 55% by 2030.
Further, smart meters and smart grids are some of the latest EMS solutions that are increasingly being employed across several regional industries. Additionally, cloud-based energy management systems are also expected to gain traction over the forecast period.
The installation and maintenance of these systems often require highly trained personnel. However, the shortage of skilled labor in the region might hamper the market growth.
During the COVID-19 pandemic-related lockdowns, curtailment in many activities, such as mobility, economic activity, construction, and manufacturing, dropped the energy demand across Europe. However, energy demand has started returning to pre-pandemic levels as the region emerges from lockdowns.A BEMS enables building managers to get an overview of how the consumption of energy within a building takes place and monitor it in real time. BEMS are also programmed to identify and recommend possible actions that can improve the energy efficiency of buildings.
Equipped with the data on energy consumption and suggestions from the BEMS, building managers can make better decisions about the next actions to improve the building’s energy performance that does not interfere with the regular functioning and energy needs in the building. The BEMS also provides tools to execute such decisions, thereby giving the managers the control needed to improve the building’s energy performance.
The United Kingdom has become one of the first major economies in the region to pass laws to reduce its greenhouse gas emissions to net zero by 2050. Also, in April 2021, the country enacted a new regulation to reduce emissions by 78% by 2035 on 1990 levels. As a part of this plan, the country aims to intensify its efforts and eliminate virtually all emissions arising from heating, cooling, and energy use in buildings. BEMS can play an important role in achieving this objective.
The price of energy in Europe has reached record levels in 2022. As the rising energy costs in commercial and industrial buildings continue to present a significant challenge, more building owners are using building energy management systems (BEMS) to cut energy waste as a means of improving operating costs.The German government is on course to become one of the world’s most energy-efficient and environmentally friendly countries through the National Action Plan Energy Efficiency plan, which addresses funding schemes for energy efficiency measures and audits.
Besides, according to Deos AG, about 40% of the total energy in Germany is used to operate buildings. It is precisely where state-of-the-art energy management systems can create the perfect framework for considerably greater energy efficiency in buildings. They save energy, increase the comfort of building users, and conserve resources.
Further, the federal government aims to make the country’s building stock largely climate-neutral by 2050, implying that buildings will have very limited energy needs, which renewables will cover. As per the plan, the building sector needs to reduce its emissions to 70-72 million tonnes of CO2 equivalents, which corresponds to a 66-67% reduction compared to 1990.
Further, the German construction sector is expected to bring in sales of EUR 151 billion (USD 178.6 billion) in 2022, up 5.5% from 2021, according to figures from the country’s two leading construction associations, ZDB and HDB. The growth projection is anticipated to be led by the strong performance of the country’s residential construction sector, which has remained resilient throughout the pandemic. The rising infrastructure developments are expected to bring significant growth opportunities for Building Energy Management Systems.3 months of analyst support
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(GlobeNewsWire)