Market Trends of Europe Smart Office Industry
This section covers the major market trends shaping the Europe Smart Office Market according to our research experts:
Power and Energy in Energy Management Systems to Show Significant Growth
- Europe, concerning emissions and energy consumption, has stringent laws and policies compared to others. These regulations pressure the construction industry to make new buildings and refurbish the old ones that adhere to these norms.
- The UK government mandate states that energy suppliers need to install smart meters in 26 million homes, aiming for every household in England, Wales, and Scotland, to have a smart meter by 2020. Additionally, approximately 700,000 households will be upgraded by 2025, and all buildings in the UK will have low-carbon heating by 2050.
- The accelerating smart meter roll-out, growing awareness of the energy crisis, and the European directive to reduce 80% of carbon emissions by 2050 have been identified as the significant factors influencing the growth of home energy management systems in the United Kingdom.
- By 2032, according to Germany's smart meter implementation strategy, every meter must be intelligent or, at the very least, have a digital interface. The municipality of Thalmassing in the service area of E.ON subsidiary Bayernwerk is where the firm claims to be the first to install 100,000 smart meters. E.ON has installed four million smart meters in the UK thus far.
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Demand for smart HVAC Control Systems to Increase in Germany
- Germany is expected to hold a significant market share in the studied market over the forecast period. The adoption of HVAC control systems is driven by the need to control the temperature indoors. The country's annual temperature hovers around 10 degrees Celsius, creating a demand for air conditioning in commercial buildings.
- With the growing temperatures in recent years, the demand for air conditioners is expected to increase steadily over the coming years. This has further driven the technologically advanced country to adopt smart controlling thermostats in homes and commercial settings alongside the HVAC equipment.
- Combined with this, government energy regulations and environmental regulations such as Regulation 842/2006/EC stipulate that refrigerant leaks are to be eliminated by carrying out leak inspections in the country. Such occurrences can be controlled by monitored usage of the HVAC equipment with the control systems.
- The government's measures to create a climate-neutral building stock by 2050 are insufficient. The country's German Housing Association (GdW) and the CDU Economic Council are looking to shift to decentral heating. The focus on energy efficiency is expected to positively impact the HVAC controls market over the forecast period.
- In October 2022 - A request for proposals for research and pilot projects was made by the German Ministry for Economic Affairs and Climate Action to hasten the switch to heat pumps and other climate-neutral heating and cooling systems. The initiative will be supported by its annual EUR 600 million budget for energy research, but there is no set amount for it. It will operate through February 28, 2023. The development of heat pumps, environmentally acceptable construction materials, industrial-scale heat pumps, seasonal heat storage, and innovative control paradigms will all be emphasized.
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