While the wider construction industry is facing some challenges at the moment, the market for retrofitting is exploding, and is set to almost double over the current decade.
There are two main reasons behind the growing retrofit trend: energy costs, which are soaring, and environmental restrictions, which are tightening. While this is promoting energy efficient alternatives, it is also forcing organisations to re-think their building's carbon footprint. That means more than just making new buildings 'greener' (only 1% of buildings are new) - the big impact will be existing buildings that need to be retrofitted for energy efficiency.
What is good about retrofitting?
There are a lot of reasons to retrofit commercial buildings, and the two main ones are government incentives and keeping energy costs down. The retrofitting market is growing in Australia, following the rest of the world. Globally it is expected to rise from $US80.3 billion in 2011 to $US151.8 billion by 2020.
Workforce productivity, indoor air quality and corporate environmental commitment are the incentives behind the survey conducted by Deloitte.
While employee health improved and productivity strengthened in these organisations, they enjoyed additional benefits like attracting and retaining talent. Even better, every organisation said the retrofit built their brand equity.
What does this mean for building-related industries?
This growing retrofit market is clearly going to impact the construction industry - particularly in sustainable-building related areas. This includes suppliers and manufacturers in areas like ventilation, lighting, heating and solar. The demand will rise for equipment that uses minimal or no energy, like natural ventilation, natural lighting, or efficient heaters. Products like louvres, which take advantage of natural light and cooling, or natural ventilators, which create airflow without electricity, will become increasingly popular as the retrofit market expands.
There are two main reasons behind the growing retrofit trend: energy costs, which are soaring, and environmental restrictions, which are tightening. While this is promoting energy efficient alternatives, it is also forcing organisations to re-think their building's carbon footprint. That means more than just making new buildings 'greener' (only 1% of buildings are new) - the big impact will be existing buildings that need to be retrofitted for energy efficiency.
What is good about retrofitting?
There are a lot of reasons to retrofit commercial buildings, and the two main ones are government incentives and keeping energy costs down. The retrofitting market is growing in Australia, following the rest of the world. Globally it is expected to rise from $US80.3 billion in 2011 to $US151.8 billion by 2020.
Workforce productivity, indoor air quality and corporate environmental commitment are the incentives behind the survey conducted by Deloitte.
While employee health improved and productivity strengthened in these organisations, they enjoyed additional benefits like attracting and retaining talent. Even better, every organisation said the retrofit built their brand equity.
What does this mean for building-related industries?
This growing retrofit market is clearly going to impact the construction industry - particularly in sustainable-building related areas. This includes suppliers and manufacturers in areas like ventilation, lighting, heating and solar. The demand will rise for equipment that uses minimal or no energy, like natural ventilation, natural lighting, or efficient heaters. Products like louvres, which take advantage of natural light and cooling, or natural ventilators, which create airflow without electricity, will become increasingly popular as the retrofit market expands.
About the Author:
You can find assist with high-quality, functional and attractive solutions for your retrofit. There are engineered ranges of sun shades, louvres and roof vents combined with expert advice and decades of experience available that will make your retrofit a success. Click here to learn more.
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