Building-To-Grid Technology Market is Expected to Reach USD 120.32 Billion by 2030
As per the report published by Kings Research, the global Building-To-Grid Technology Market was valued at USD 11.25 billion in 2022 and is projected to reach USD 22.54 billion by 2030, growing at a CAGR of 8.6% from 2023 to 2030.
The building-to-grid (BtG) technology market is expanding rapidly, driven by factors including the growing demand for sustainable energy solutions and the increasing need for energy-efficient buildings. The BtG market is comprised of companies offering BTG technologies, as well as installation, maintenance, and consulting services. Technological advancements such as smart sensing, metering, and control technologies can improve the energy efficiency and grid responsiveness of commercial and residential buildings. Furthermore, the adoption of regulations and policies focused on reducing carbon emissions globally and incentivizing the adoption of green energy solutions is promoting the growth of the BtG market.
Several instances, including initiatives by the International Commission on the Futures of Education and the United Nations Commission on Science and Technology for Development, have also shown growing interest in futuristic sustainable buildings with sophisticated energy management systems. Factors such as infrastructure development, research and development activities, and energy consumption patterns are anticipated to offer additional growth opportunities for the market.
- Based on technology, the smart metering segment held the largest market share of 27.32% in 2022
- Based on end user, the residential segment generated the highest revenue of USD 33.61 billion in 2022 and is anticipated to experience the fastest CAGR of 11.65% through 2030.
- On the basis of region, Europe accounted for the largest market share of 42.22% in 2022
CPower Energy Management to provide building-to-grid technology solutions to New York
April 2022 (Product Launch): CPower Energy Management launched a new service product to support the adoption of building-to-grid solutions in New York. The service includes building management systems as a service and is cost free to commercial building owners and managers.
Exploring Transactive Energy Approaches and the Potential of Building-to-Grid Communication
The evolution of the energy sector and increasing demand for a sustainable future have led to the development of transactive energy approaches. Demonstrations of these approaches are currently underway, which has attracted the attention of building owners, operators, and service providers. They all acknowledge that a transformation in the relationship between buildings, devices, and the grid is required to leverage the significant potential benefits of high-value transactions. The current focus is to foster a true two-way communication channel between energy users and the grid to capitalize on the potential for inter-dependencies management and a financial opportunity. Achieving this would enable smart devices to provide more significant value to both buildings and the grid. Opportunities for the building-to-grid market are plentiful. Building automation systems and energy management systems are amongst the most prominent technological improvements that are making building-to-the-grid communication possible.
Advanced Infrastructure, Electric Vehicles, and Energy Independence to Support North America’s Growth
Based on regional analysis, the global building-to-grid technology market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.
North America is among the major regions in the building-to-grid market owing to the presence of advanced smart grid infrastructure, which enables seamless integration of building-to-grid technologies. The region is estimated to account for USD 35.75 billion in revenue by 2030, progressing at a CAGR of 10.51% through the forecast timeline. Additionally, the high penetration of electric vehicles in North America creates opportunities for building-to-grid solutions that facilitate vehicle-to-grid interaction. Moreover, the strong emphasis on energy independence and security in North America drives the demand for building-to-grid technologies as a means to optimize energy usage and reduce reliance on external sources. These factors contribute to the distinct growth of the building-to-grid market in North America.
Companies Focus on Launching Cutting-Edge Products to Exceed Reach
The global building-to-grid technology market study is fragmented with key players such as GridPoint, ABB, Landis+Gyr, Siemens, Parker Solar, LLC., Enphase Energy, Itron Inc., EnBW Energie Baden-Württemberg AG, S&C Electric Company, E.ON SE, and others. Companies employ a variety of strategic measures, such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.