Carbon emissions across the globe are surging at the present time, which can majorly be attributed to the increased consumption of energy. As per the World Green Council reports, the worldwide construction industry accounts for over 35% of the total energy usage and about 40% of energy-based carbon dioxide emissions. Even today, the growing energy demands around the world are being fulfilled by fossil fuels. Renewable energy sources are in the picture, however, the electricity generated from these sources is not yet capable of catering to the needs of people. Attributed to these factors, governments across the globe are trying to come up with eco-friendly solutions.


One of the developments that have been made in recent time concerning energy conservation is net zero energy buildings (NZEB). In theory, NZEBs generate as much energy as they consume over a year. At the present time, just a small number of buildings are able to meet this criteria, however, technological advancements are projected to result in the increasing feasibility of these building in the years to come. According to a report by P&S Intelligence, the global Net Zero Energy Buildings market is projected to attain $2,106.6 million by 2024, increasing from $896.6 million in 2018, progressing at a 15.6% CAGR during the forecast period (2019–2024).


NZEBs are constructed for both commercial and residential purposes, however, in the past, commercial construction of such buildings was higher. The value of construction of commercial buildings is increased because of more floor space. Governments across the globe are introducing policies for shifting towards NZEBs in the commercial sectors in order to reduce energy production though fossil fuels. Other than this, the construction of NZENs for residential purposes is also predicted to increase significantly in the next few years, owing to the surging environmental concerns in developed nations, such as Canada and the U.S.


Get the sample pages of the NZEBs Market Overview at: https://www.psmarketresearch.com/market-analysis/net-zero-energy-buildings-market/report-sample


Different equipment that are utilized in NZEBs are solar photovoltaic (PV) panels, insulation panels, heating, ventilation, and air conditioning (HVAC) systems, and lighting systems. Out of all these, the demand for solar PV panels was the highest for NZEBs in the past, which is majorly due the increasing construction of commercial NZEBs that need considerable amount of energy for sourcing electricity to all appliances. Moreover, the expected development of NZEB plans in the coming years will result in the increasing adoption of solar PV units.


Geographically, North America has been the largest Net Zero Energy Buildings market in the past and the situation is predicted to remain the same in the coming years as well. The major reasons for this are the targets set by governments of the U.S. and Canada for attaining sustainable energy consumption. In addition to consuming less energy during their operation, NZEBs can considerably decrease the pollution during the construction phase, thereby ensuring carbon neutrality, which can further aid in achieving a net zero carbon status.


In conclusion, the construction of NZEBs is expected to grow in the coming years due to the increasing environmental concerns and need for achieving sustainable development.