software allows users to analyze multiple design options and select the most energy-efficient solution. These software programs simulate a building's thermal behavior, lighting requirements, and HVAC systems to estimate its annual energy consumption and carbon footprint. They help users choose sustainable and low-carbon design and construction strategies to comply with green building codes and certifications. The Global Building Energy Simulation Software Market is estimated to be valued at US$ 5.65 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the building energy simulation software market are Alchemie Ltd., Asahi Kasei Corporation, BASF SE, BUFA GmbH & Co. KG, Celanese Corporation, Covestro AG, Daicel Corporation, DSM, Eastman Chemical Company, INEOS, Kanoria Chembond Pvt. Ltd, Lanxess AG, LG Chem, Mitsubishi Engineering-Plastics Corporation, Nihon Gosei Kako Co. Ltd, Polynt SpA, Satyen Polymers Pvt. Ltd, Showa Denko KK, Solvay, Sumitomo Bakelite Co. Ltd, and U-PICA Company Ltd. The building energy simulation software industry is expected to witness significant growth opportunities due to rising investments in green building construction projects and the implementation of stringent energy codes across countries. Major software providers are focusing on expanding their geographical footprint through partnerships with engineering consultancies and building material manufacturers in Asia Pacific and Middle Eastern countries.
Market Drivers
One of the key drivers for the Building Energy Simulation Software Market Demand is the significant cost savings achieved through their use. Building energy simulation enables architects to analyze a building's thermal performance during design and select the most efficient HVAC, lighting, and insulation systems. This leads to lower utility bills and greenhouse gas emissions over the entire lifecycle of the building. Conducting energy analysis in the initial design stage itself using such software is more cost-effective than retrofitting existing buildings.
Market Restrains
A major restrain for the building energy simulation software market is the high upfront costs associated with purchasing and implementing these programs. They require specialized training of architects and engineers to use simulation tools effectively. The complexity of simulation models also means that results might not always translate directly to real-world scenarios. Limited technical capabilities and expertise in energy analysis among designers in developing economies could also hamper market growth.
Segment Analysis
The building energy simulation software market is segmented by component, application, end user and deployment. The building performance simulation software segment dominated the market in 2024 as it helps assess environmental impact, daylighting, renewable energy systems, and building comfort.
Global Analysis
North America dominated the market with around 40% share in 2024 due to strict government regulations regarding energy efficiency and GHG emissions in the region. The region is expected to continue its dominance during the forecast period. However, Asia Pacific is expected to grow at the fastest pace during the forecast period owing to industrialization and rapid urbanization in countries like China and India. These countries are witnessing rapid infrastructure development and construction activities which is driving the demand for building energy simulation software in the region. Europe held the second largest share in the global market in 2024 due to stringent government regulations and focus on green building initiatives to reduce carbon emissions in the EU countries like Germany, UK and France.
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