Energy Management Systems Market Share, Size, Trends, Industry Analysis Report, By System (Home Energy Management Systems, Industrial Energy Management Systems); By Component; By Deployment; By Region; Segment Forecast, 2022 - 2030
Description
The global energy management system market size is expected to reach USD 178.78 billion by 2034, according to a new study by Polaris Market Research. The report “Energy Management System Market Share, Size, Trends, Industry Analysis Report; By System (Home Energy Management Systems, Industrial Energy Management Systems); By Component; By Deployment; By Region; Segment Forecast, 2020 - 2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The energy management system raises awareness and commitment to energy, i.e., consumption, use, efficiency, and renewable sources. It enables organizations to manage energy risks and their potential consequences efficiently, while strengthening their competitiveness and reducing their vulnerability to fluctuations in energy prices and energy availability issues. Thus, the rapid adoption of this system across commercial, industrial, and public sector organizations fueled market growth. Furthermore, implementing energy management systems yields significant benefits other than energy and cost savings. Early adoption experiences have demonstrated that adhering to the standard yields some non-energy benefits, including increased productivity and lower maintenance requirements.
North America controls most of the global market and is expected to maintain its dominance in the coming years because energy management systems significantly improve energy performance compared to an initial energy baseline. They lead systematically (plan-do-check-act), resulting in ongoing energy efficiency improvement. They also create a policy for efficient energy use and maintain efficiency overall project return on investment. They also generate data to better understand and make decisions about energy consumption. Furthermore, an energy management system is superior to ad hoc or traditional project-based approaches to improving energy performance because it involves implementing a systematic approach to energy efficiency. These systems typically comprise best practices in project management, energy monitoring, and energy awareness, as well as an energy policy that governs an organization's energy use and performance.
Significant energy and cost savings were achieved in many cases with little or no capital investment. This is because ISO 50001 promotes a cultural shift that engages and empowers employees to identify and address energy-saving opportunities as they arise. Companies achieve energy savings persistence by continuously monitoring and improving energy efficiency. However, conforming to an internationally recognized standard, such as ISO 50001, provides the company with additional market value. Companies and organizations can demonstrate their commitment to sustainability to their customers, employees, investors, and regulators by obtaining ISO 50001 certification.
Companies and organizations can gain a competitive advantage by demonstrating their corporate citizenship. This can help to improve their brand, which directly benefits them.
Energy Management System Market Report Highlights
In 2024, HEMS segment held the largest market share in the system segment as the demand for an automated household is rising.
In 2024, Hardware held the largest segment in the services segment with rising diagnoses of infections and genetic illness.
Cloud-based energy management systems held the largest segment in 2024 as it helps in boosting productivity and decrease carbon efficiency.
In 2024, North America held the dominant position because of rising adaptation towards technology and advancements alongside environmental concerns.
Major players operating in the industry include Schneider Electric SE; Honeywell International Inc.; Siemens AG; Johnson Controls, Inc.; C3.ai, Inc.; GridPoint, General Electric; ABB; International Business Machines Corporation; Cisco Systems, Inc.
Polaris Market Research has segmented the energy management system market report based on system, component, deployment and region:
Energy Management System, System Outlook (Revenue - USD Billion, 2020 - 2034)
Home Energy Management Systems (HEMS)
Industrial Energy Management Systems (IEMS)
Energy Management System, Component Outlook (Revenue - USD Billion, 2020 - 2034)
Hardware
Software
Services
Energy Management System, Deployment Outlook (Revenue - USD Billion, 2020 - 2034)
Cloud
On-Premise
Energy Management System, Regional Outlook (Revenue - USD Billion, 2020 - 2034)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE
The energy management system raises awareness and commitment to energy, i.e., consumption, use, efficiency, and renewable sources. It enables organizations to manage energy risks and their potential consequences efficiently, while strengthening their competitiveness and reducing their vulnerability to fluctuations in energy prices and energy availability issues. Thus, the rapid adoption of this system across commercial, industrial, and public sector organizations fueled market growth. Furthermore, implementing energy management systems yields significant benefits other than energy and cost savings. Early adoption experiences have demonstrated that adhering to the standard yields some non-energy benefits, including increased productivity and lower maintenance requirements.
North America controls most of the global market and is expected to maintain its dominance in the coming years because energy management systems significantly improve energy performance compared to an initial energy baseline. They lead systematically (plan-do-check-act), resulting in ongoing energy efficiency improvement. They also create a policy for efficient energy use and maintain efficiency overall project return on investment. They also generate data to better understand and make decisions about energy consumption. Furthermore, an energy management system is superior to ad hoc or traditional project-based approaches to improving energy performance because it involves implementing a systematic approach to energy efficiency. These systems typically comprise best practices in project management, energy monitoring, and energy awareness, as well as an energy policy that governs an organization's energy use and performance.
Significant energy and cost savings were achieved in many cases with little or no capital investment. This is because ISO 50001 promotes a cultural shift that engages and empowers employees to identify and address energy-saving opportunities as they arise. Companies achieve energy savings persistence by continuously monitoring and improving energy efficiency. However, conforming to an internationally recognized standard, such as ISO 50001, provides the company with additional market value. Companies and organizations can demonstrate their commitment to sustainability to their customers, employees, investors, and regulators by obtaining ISO 50001 certification.
Companies and organizations can gain a competitive advantage by demonstrating their corporate citizenship. This can help to improve their brand, which directly benefits them.
Energy Management System Market Report Highlights
In 2024, HEMS segment held the largest market share in the system segment as the demand for an automated household is rising.
In 2024, Hardware held the largest segment in the services segment with rising diagnoses of infections and genetic illness.
Cloud-based energy management systems held the largest segment in 2024 as it helps in boosting productivity and decrease carbon efficiency.
In 2024, North America held the dominant position because of rising adaptation towards technology and advancements alongside environmental concerns.
Major players operating in the industry include Schneider Electric SE; Honeywell International Inc.; Siemens AG; Johnson Controls, Inc.; C3.ai, Inc.; GridPoint, General Electric; ABB; International Business Machines Corporation; Cisco Systems, Inc.
Polaris Market Research has segmented the energy management system market report based on system, component, deployment and region:
Energy Management System, System Outlook (Revenue - USD Billion, 2020 - 2034)
Home Energy Management Systems (HEMS)
Industrial Energy Management Systems (IEMS)
Energy Management System, Component Outlook (Revenue - USD Billion, 2020 - 2034)
Hardware
Software
Services
Energy Management System, Deployment Outlook (Revenue - USD Billion, 2020 - 2034)
Cloud
On-Premise
Energy Management System, Regional Outlook (Revenue - USD Billion, 2020 - 2034)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE
Table of Contents
117 Pages
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. U.S. Industrial Cooling Systems Market Insights
- 4.1. U.S. Industrial Cooling Systems Market – Market Snapshot
- 4.2. U.S. Industrial Cooling Systems Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rise in the Shale gas & petrochemical industry
- 4.2.1.2. Rising Renewable Energy Projects
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High initial & maintenance costs
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. U.S. Industrial Cooling Systems Market Trends
- 4.6. Value Chain Analysis
- 5. U.S. Industrial Cooling Systems Market, by Product
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. U.S. Industrial Cooling Systems Market, by Product, 2020-2034 (USD Billion)
- 5.3. Hybrid Cooling
- 5.3.1. U.S. Industrial Cooling Systems Market, by Hybrid Cooling, 2020-2034 (USD Billion)
- 5.4. Water Cooling
- 5.4.1. U.S. Industrial Cooling Systems Market, by Water Cooling, 2020-2034 (USD Billion)
- 5.5. Air Cooling
- 5.5.1. U.S. Industrial Cooling Systems Market, by Air Cooling, 2020-2034 (USD Billion)
- 5.6. Evaporative Cooling
- 5.6.1. U.S. Industrial Cooling Systems Market, by Evaporative Cooling, 2020-2034 (USD Billion)
- 6. U.S. Industrial Cooling Systems Market, by Offering
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. U.S. Industrial Cooling Systems Market, by Offering, 2020-2034 (USD Billion)
- 6.3. Equipment
- 6.3.1. U.S. Industrial Cooling Systems Market, by Equipment, 2020–2034 (USD Billion)
- 6.4. Aftermarket Services
- 6.4.1. U.S. Industrial Cooling Systems Market, by Aftermarket Services, 2020–2034 (USD Billion)
- 6.4.2. Installation
- 6.4.2.1. U.S. Industrial Cooling Systems Market, by Installation, 2020–2034 (USD Billion)
- 6.4.3. Service
- 6.4.3.1. U.S. Industrial Cooling Systems Market, by Service, 2020–2034 (USD Billion)
- 6.4.4. Maintenance
- 6.4.4.1. U.S. Industrial Cooling Systems Market, by Maintenance, 2020–2034 (USD Billion)
- 7. U.S. Industrial Cooling Systems Market, by Component
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. U.S. Industrial Cooling Systems Market, by Component, 2020-2034 (USD Billion)
- 7.3. Chillers
- 7.3.1. U.S. Industrial Cooling Systems Market, by Chillers, 2020–2034 (USD Billion)
- 7.4. Heat Exchangers
- 7.4.1. U.S. Industrial Cooling Systems Market, by Heat Exchangers, 2020–2034 (USD Billion)
- 7.5. Heat Pumps
- 7.5.1. U.S. Industrial Cooling Systems Market, by Heat Pumps, 2020–2034 (USD Billion)
- 7.6. Others
- 7.6.1. U.S. Industrial Cooling Systems Market, by Others, 2020–2034 (USD Billion)
- 8. U.S. Industrial Cooling Systems Market, by End Use
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. U.S. Industrial Cooling Systems Market, by End Use, 2020-2034 (USD Billion)
- 8.3. Utility & Power
- 8.3.1. U.S. Industrial Cooling Systems Market, by Utility & Power, 2020-2034 (USD Billion)
- 8.4. Chemical
- 8.4.1. U.S. Industrial Cooling Systems Market, by Chemical, 2020-2034 (USD Billion)
- 8.5. Food & Beverage
- 8.5.1. U.S. Industrial Cooling Systems Market, by Food & Beverage, 2020-2034 (USD Billion)
- 8.6. Pharmaceuticals
- 8.6.1. U.S. Industrial Cooling Systems Market, by Pharmaceuticals, 2020-2034 (USD Billion)
- 8.7. Oil & Gas
- 8.7.1. U.S. Industrial Cooling Systems Market, by Oil & Gas, 2020-2034 (USD Billion)
- 8.8. Others
- 8.8.1. U.S. Industrial Cooling Systems Market, by Others, 2020-2034 (USD Billion)
- 9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
- 10. Company Profiles
- 10.1. API Heat Transfer
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Baltimore Aircoil Company, Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Brentwood Industries, Inc.
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Chart Industries
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Colmac Coil Manufacturing, Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. CTS, Inc.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Delta Cooling Towers, Inc.
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. EVAPCO, Inc
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Johnson Controls
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. SPX Cooling Tech, LLC
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
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