Press Release

Building Retrofitting Market is expected to Grow with a CAGR of 7.82% through 2030

The Building Retrofitting Market is driven by increasing demand for energy-efficient upgrades, stricter building codes, environmental sustainability, and the need to enhance building safety, resilience, and overall performance in aging infrastructure.


According to TechSci Research report, “Building Retrofitting Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F”, the Global Building Retrofitting Market was valued at USD 123.89 billion in 2024 and is expected to reach USD 196.39 billion by 2030 with a CAGR of 7.82% during the forecast period. The increasing integration of smart technologies and the Internet of Things (IoT) in building retrofitting projects is transforming the market landscape. Building owners and facility managers are leveraging IoT-enabled solutions to enhance operational efficiency, improve occupant comfort, and reduce maintenance costs. The retrofitting of older buildings with smart technologies, such as automated lighting systems, energy-efficient climate control, and real-time monitoring sensors, is becoming more prevalent as organizations strive to improve building performance. These smart solutions enable predictive maintenance, allowing facility managers to identify and address potential issues before they escalate into costly repairs. Additionally, data analytics and AI-driven optimization tools are being used to analyze energy consumption patterns and suggest improvements, further driving the demand for smart retrofitting. The increasing adoption of smart meters, automated HVAC systems, and advanced building management systems (BMS) allows building owners to optimize energy usage and reduce operational expenses. Moreover, the rise of 5G connectivity and wireless sensor networks is facilitating seamless IoT integration, making retrofitting projects more efficient and scalable. As digital transformation continues to reshape the construction industry, the adoption of smart building retrofitting solutions is expected to grow, positioning the market for long-term expansion.


Browse over XX Market data Figures spread through XX Pages and an in-depth TOC on the "Global Building Retrofitting Market. 


Based on the Type, Retrofitting of Reinforced Concrete Structure segment held the largest Market share in 2024. The Building Retrofitting Market, particularly in the retrofitting of reinforced concrete structures, is driven by several key factors that highlight the growing demand for structural improvements and sustainability in aging infrastructure. A primary driver is the increasing emphasis on enhancing the safety, durability, and performance of existing buildings to withstand environmental challenges, seismic activities, and natural disasters. As reinforced concrete structures age, they often suffer from issues such as cracking, corrosion, and wear, which can compromise their integrity. Retrofitting offers a cost-effective and efficient solution to extend the lifespan of these structures, ensuring they meet modern safety standards without the need for complete demolition and rebuilding. Furthermore, stringent building codes and regulations, especially in regions prone to earthquakes or severe weather conditions, are pushing the need for structural retrofitting to comply with safety requirements. Governments and regulatory bodies across the globe are also mandating retrofitting of older buildings to improve seismic resistance, energy efficiency, and sustainability. The growing awareness of sustainability and environmental impact in construction is another significant driver. Building retrofitting, especially in reinforced concrete structures, helps reduce construction waste by repurposing existing materials, contributing to the reduction of carbon footprints. Additionally, retrofitting is often more energy-efficient compared to building new structures from scratch, aligning with the global shift towards green building practices. Another driver is the rise in urbanization, particularly in emerging economies where cities are rapidly expanding and older structures require upgrading to accommodate modern needs. As these urban areas grow, retrofitting becomes an essential solution to maintain the structural integrity of existing buildings while avoiding the disruption and high costs associated with new constructions. The rising focus on asset management also plays a significant role in promoting retrofitting in reinforced concrete structures. Property owners and developers are increasingly investing in the long-term maintenance of their assets, including retrofitting, to ensure that the value of the property is preserved and enhanced over time. Additionally, advancements in retrofitting technologies, such as carbon fiber wraps, high-strength materials, and advanced concrete repair methods, are making the process more efficient and cost-effective. These innovations are further encouraging the adoption of retrofitting practices in the reinforced concrete structure segment. The growing availability of government incentives, subsidies, and tax breaks for retrofitting projects is also driving market growth, particularly in developed countries focused on sustainability and improving the resilience of their infrastructure. As energy costs rise, retrofitting is seen as a viable option for enhancing energy efficiency in older buildings, reducing operational costs for property owners, and contributing to environmental goals. Finally, the increasing number of retrofitting projects in historical buildings, which require specialized expertise and techniques to preserve their aesthetic value while improving structural integrity, presents unique opportunities within the market. These factors collectively contribute to the rapid growth of the Building Retrofitting Market in the retrofitting of reinforced concrete structures, as it aligns with the global push toward sustainable, safe, and resilient infrastructure.

Based on the region, Asia Pacific is the fastest growing region in building retrofitting market. Asia Pacific is the fastest-growing region in the Building Retrofitting Market, driven by rapid urbanization, economic development, and increasing focus on energy efficiency and sustainability. Countries like China, India, and Japan are witnessing significant growth in the construction and infrastructure sectors, creating a demand for retrofitting solutions to upgrade aging buildings, improve energy performance, and meet modern safety standards. The region's expanding middle class and rising disposable incomes have increased the demand for high-quality, energy-efficient residential and commercial spaces, further fueling the retrofitting market. Government regulations promoting energy efficiency, such as stricter building codes and green building standards, are pushing property owners to retrofit existing buildings to meet these requirements. Additionally, the growing awareness of climate change and environmental sustainability has led to an increase in retrofitting initiatives aimed at reducing energy consumption and lowering carbon emissions. The Asia Pacific region is also home to many rapidly developing cities where infrastructure modernization is a key priority, and retrofitting presents a cost-effective solution to upgrade old buildings without the need for complete reconstruction. With a focus on enhancing the resilience of buildings against natural disasters, such as earthquakes and extreme weather events, retrofitting is becoming an essential part of the region’s infrastructure development, positioning Asia Pacific as the leading market for building retrofitting solutions.


Major companies operating in the Global Building Retrofitting Market are:

  • Siemens AG
  • Johnson Controls International PLC
  • Schneider Electric SE
  • Honeywell International Inc.
  • Kingspan Group
  • Saint-Gobain S.A.
  • Owens Corning
  • Rockwool International A/S
  • 3M Company
  • BASF SE


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“The Global Building Retrofitting Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. The Building Retrofitting Market is well-positioned for robust growth, driven by the increasing demand for energy-efficient, sustainable, and resilient building solutions. As governments and enterprises globally prioritize carbon footprint reduction and compliance with stringent environmental standards, there is a growing need for retrofitting services aimed at enhancing energy efficiency, insulation, and overall building performance. Additionally, rapid urbanization and the need to upgrade aging infrastructure in developed markets present significant opportunities for retrofitting initiatives. Advancements in green technologies and smart building systems offer new avenues for innovation and market expansion, while heightened focus on building safety and climate resilience further accelerates demand. Therefore, the Market of Building Retrofitting is expected to boost in the upcoming years.,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

Building Retrofitting Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Building Type (Residential, Non-Residential), By Type (Retrofitting of Reinforced Concrete Structure, Retrofitting of Masonry Structure, Others), By Method (New Shear Wall, Wall Thickening, Jacketing Method, Epoxy Injection, Others), By Region, By Competition, 2020-2030F”, has evaluated the future growth potential of Global Building Retrofitting Market and provides statistics & information on the Market size, structure, and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Building Retrofitting Market.

 

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