Is there a market?
Yes! A rapidly growing one. The overall target is to virtually eliminate the amount of greenhouse gas emissions (GHG) in new construction by 2030 and in existing buildings by 2040. That translates to a lot of opportunity for our industry over the next 20 years.
U.S. Engineering, if we act now, has the opportunity to be the Trusted Advisor on this rapidly changing and exciting market in mechanical construction, maintenance and facility services.
The market for sustainability will be driven by local government policies, and will vary in different regions. New building construction will be influenced by the building code cycles in 2021, 2024, 2027 and 2030. Each code cycle will increase the energy efficiency of building systems and will transition heating systems towards electrification.
Simultaneously, local jurisdictions will define building performance standards to require buildings to be up to 20% more efficient by 2030. Some clients will be proactive to meet these goals, while others will consider the possible penalties for non-compliance.
The graphic below summarizes how the markets for new building construction and existing building remodels will be influenced in the next 8 years, based on current market indicators. Different U.S. Engineering regions and companies will see the market opportunities within different phases.