Description

Buildings continue to evolve rapidly as the requirements of businesses and people change. Responsive, resilient, comfortable, and safe buildings are the need of the hour.

Often, residents and owners are concerned about operating costs due to the high expenses incurred during maintenance. Managing building operations using poor-quality technology while trying to be efficient raises the need for skilled resources and technology. As reduced energy consumption is the main aim of market participants, power and water savings and the use of sustainable building materials are being considered.

As the trend of green initiatives continues to rise across the world, similar practices are being adopted in the commercial buildings space. Policies and regulations are imposed to increase the focus on environmental value preservation for better economic circumstances and sustainability. In the coming years, Frost & Sullivan expects international builders and developers to design projects focused on green buildings by reducing material costs, focusing on net zero, and abiding by mandatory certifications and policies.

By supporting green initiatives, constructors focus on digitalization and build technology and flexible IoT solutions to accelerate the growth of energy-efficient and sustainable buildings.

This Frost & Sullivan study provides revenue forecasts for pumps in the commercial building industry and examines new service models that will impact OEMs’ prospects. It analyzes the key factors driving and restraining growth and identifies the main growth opportunities emerging from the changes in this space. The base year is 2021, and the forecast period is from 2022 to 2026.

Author: Ranjana Venkatesh Kumar