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High Energy Costs Create Tremendous Growth Opportunity for Energy-efficient Technologies Says Frost & Sullivan - Consumer Education Critical to Developing Market for Energy-efficient Technologies
High Energy Costs Create Tremendous Growth Opportunity for Energy-efficient Technologies Says Frost & Sullivan

 

PRZOOM - /newswire/ - Cape Town, South Africa, 2011/06/08 - Consumer Education Critical to Developing Market for Energy-efficient Technologies.

   
 
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Currently, high energy costs are the main drivers of energy-efficient heating, ventilation and air conditioning (HVAC) and lighting technologies in South Africa. The price of electricity has increased significantly since 2007 and this has created pressure on households and industries to save energy and minimise costs.

New analysis from Frost & Sullivan (buildingtechnologies.frost.com), Energy-efficient HVAC and Lighting Equipment Market in South Africa, finds that the market is expected to expand from $38.3 million in 2009 to $64.9 million in 2016. The market is set to experience high growth due to Eskom's demand side management (DSM) and high energy costs. In this research, Frost & Sullivan's expert analysts thoroughly examine the current trends in energy-efficient HVAC and lighting technologies in the residential, commercial and industrial sectors.

"The high cost of electricity has been a major driver of energy-efficient technologies in South Africa," notes Frost & Sullivan's EBT Industry Analyst Derrick Chikanga. "Between 2007 and 2010 the price of electricity increased by an average of 32.9 per cent."

This intensified pressure on households and businesses to reduce operating expenditure by reducing electricity consumption. Further, Eskom embarked on DSM initiatives in order to ensure the efficient use of energy in South Africa.

Some energy-efficient equipment such as light emitting diodes (LEDs) involves high capital costs. Hence, most industries are reluctant to invest in such equipment. Moreover, information on energy-efficient technologies is generally scarce in South Africa and this limits the adoption of such technologies in the country.

"Information on energy-efficient technologies is poorly disseminated and is often inaccessible to the general public," emphasises Chikanga. "Consumers will only purchase a lighting technology if the benefits compensate for the original cost of equipment; if they perceive the price to be too high without understanding the potential economic benefits, then this becomes a 'high-cost' psychological barrier."

Despite a highly price sensitive market and the lack of understanding of the potential benefits of energy-efficient technologies, opportunities for growth still exist. Increasing consumer awareness concerning the potential benefits of energy-efficient technologies is a key element for the development of this market.

"Improving market awareness through rigorous campaigns will help widen knowledge about the various energy-efficient technologies available in this market," advises Chikanga. "Eskom's DSM is one of numerous initiatives that could be undertaken to enhance consumer awareness."

If you are interested in more information about this study, please send an email with your contact details to Samantha James, Corporate Communications, at samantha.james[.]frost.com.

Energy-efficient HVAC and Lighting Equipment Market in South Africa is part of the Building Management Technologies Growth Partnership Service programme, which also includes research in the following markets: The South African HVAC Market, South Africa HVAC Market: Top 5 Vertical Industries and South African HVAC Market: Voice of Customer Analysis. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

Energy-efficient HVAC and Lighting Equipment Market in South Africa / M642

 
 
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High Energy Costs Create Tremendous Growth Opportunity for Energy-efficient Technologies Says Frost & Sullivan

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