Building Automation Energy Harvesting Market Analysis

Building Automation Energy Harvesting Market Analysis

The solar energy harvesting building automation energy harvesting industry accounted for over 30% revenue share of the global market in 2023. Persistent decrease in the installation and operating costs, coupled with energy savings and reduced maintenance requirements of solar based energy source will further propel the business scenario over the forthcoming period. In addition, energy-efficient buildings equipped with energy harvesting technologies can achieve green building certifications, such as LEED (Leadership in Energy and Environmental Design), demonstrating a commitment to environmental stewardship, which in turn will add growth prospects to the industry.
 

The energy harvesting transducers segment is set to grow at over 8.5% CAGR through 2032. The expanding emerging markets in developing nations, alongside the rise in rural and off-grid applications, are set to bolster the business landscape. These emerging markets, often lacking access to dependable power sources, are realizing the advantages of energy harvesting transducers for powering vital devices and infrastructure.
 

North America building automation energy harvesting market is forecasted to exceed USD 170 million by 2032. The rise in renewable energy initiatives, coupled with the growing demand for sustainable buildings in countries like the U.S. and Canada, is expected to enhance the market landscape. Government incentives, tax credits, and rebates across various levels are incentivizing the uptake of renewable energy sources, including energy harvesting technologies. Moreover, the availability of financial stimulus packages primarily across wind, solar, among other forms of energy harvesting is fuelling the construction & retrofitting of green buildings to minimize energy usage and carbon emissions will cater to the industry growth.