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
Download Free Sample Report
Customers
can also request 10% free customization in this report.
“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.
Contact
Techsci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States-
10170
Tel: +13322586602
Email: [email protected]
Website: www.techsciresearch.com