NEPH
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THE NEPHELINE GROUP
ENERGY
THE NEPHELINE GROUP: A small minority women-owned business
THE PATH TO CLIMATE STABILIZATION
Decarbonization refers to the process of reducing ‘carbon intensity’, lowering the amount of greenhouse gas emissions produced by the burning of fossil fuels. This involves decreasing CO2 output per unit of electricity generated. Reducing the amount of carbon dioxide occurring as a result of transport and power generation is essential to meet global temperature standards set by the Paris Agreement.
NET ZERO PARIS AGREEMENT
2050
100% CARBON FREE ELECTRICITY
2035
Decarbonizing Heat in Buildings
Want to know more? Read Kaila Nepheline Raybuck's market research publication with Guidehouse. The report explores market trends and provides a global revenue and shipement forecast heat decarbonization solutions. The forecast is segmented by commercial and residential buildings, as well as five global regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Forecasts extend through 2030.
What To Know
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According to the United Nations, the global building sector contributes to 40% of global energy use and 38% of the world's CO2 emissions.
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HVAC systems contribute to almost 40% of buildings CO2 emissions . $14 billion a year is spent on service and repair of HVAC systems.
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Building operations reached their highest level of CO2 recorded in 2019. 55% of electricity consumption around the world is due to building operations.
​The global market for decarbonized heating equipment is expected to grow from $89.9 billion in 2021 to $156.5 billion in 2030 at a compound annual growth rate (CAGR) of 6.3%. Asia Pacific is expected to be the largest market at $70.3 billion in 2021, growing to $116.1 billion by 2030 at a CAGR of 5.7%. North America is expected to overtake Europe as the second-largest market in 2030, growing from $7.3 billion in 2021 to an anticipated $18.9 billion in 2030 at a CAGR of 11.1%. Europe is expected to grow from $8.5 billion in 2021 to $17.3 billion in 2030 at a CAGR of 8.2%. Latin America and the Middle East & Africa are expected to register slow growth during the forecast period, with Latin America growing at a CAGR of 2.3% and the Middle East & Africa growing at a CAGR of 0.6%.
Market Drivers
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Power system transformation, such as onsite and utility-scale renewables and hydrogen.
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Country, state, and local decarbonization goals and corresponding policies.
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Subsidies and tax incentives offsetting upfront costs.
Market Barriers
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Challenging economics due to high upfront costs
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The lack of further and more specific policy
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The lack of hydrogen infrastructure for the commercialization of hydrogen boilers