Summary

MARKET OUTLOOK
Triton’s report estimates the Latin America energy retrofit system market to gain a CAGR of 3.82% during the projected period 2024-2032. Brazil, Mexico and the Rest of Latin America are examined in this report.
The energy retrofit system market’s growth in Mexico is driven by the country’s commitment to sustainable development and energy efficiency. With a focus on reducing carbon emissions and enhancing energy security, Mexico is investing in retrofitting buildings and industrial facilities to be more energy-efficient. This includes the installation of modern HVAC systems, energy-efficient lighting, and the integration of renewable energy sources.
Furthermore, the government’s supportive policies and incentives, such as tax rebates and financing options, are encouraging both public and private sectors to invest in energy retrofits. This trend is contributing to Mexico’s environmental goals and stimulating economic growth by creating jobs and reducing energy costs for businesses and households. The growing awareness of climate change and the need for energy independence are further propelling the market forward.
The energy retrofit system market in Argentina is fueled by the country’s increasing focus on sustainability and energy efficiency. The government has implemented various policies and incentives aimed at reducing energy consumption and promoting the use of renewable energy sources. These initiatives have spurred investments in energy retrofit projects across residential, commercial, and industrial sectors.

COMPETITIVE OUTLOOK
The leading players in the energy retrofit system market include Ameresco, Eaton Corporation Plc, Daikin Industries Ltd, and Siemens AG.

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Table of Contents

TABLE OF CONTENTS
1. LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET – SUMMARY
2. INDUSTRY OUTLOOK
2.1. PORTER’S FIVE FORCES ANALYSIS
2.1.1. THREAT OF NEW ENTRANTS
2.1.2. THREAT OF SUBSTITUTES
2.1.3. BARGAINING POWER OF BUYERS
2.1.4. BARGAINING POWER OF SUPPLIERS
2.1.5. THREAT OF COMPETITIVE RIVALRY
2.2. MARKET MATURITY ANALYSIS
2.3. SUPPLY CHAIN ANALYSIS
2.3.1. ENERGY EFFICIENCY TECHNOLOGY PROVIDERS
2.3.2. RETROFIT SOLUTION MANUFACTURERS
2.3.3. DISTRIBUTION CHANNELS
2.3.4. ENERGY CONSUMERS AND END USERS
2.4. REGULATORY FRAMEWORK
2.5. KEY BUYING IMPACT ANALYSIS
2.5.1. ENERGY EFFICIENCY AND PERFORMANCE
2.5.2. TECHNOLOGICAL INNOVATIONS IN RETROFIT SYSTEMS
2.5.3. SYSTEM RELIABILITY AND LONGEVITY
2.5.4. SUPPORT SERVICES AND USER TRAINING
2.6. KEY MARKET STRATEGIES
2.6.1. COLLABORATIONS
2.6.2. PRODUCT LAUNCHES
2.6.3. ACQUISITIONS
2.6.4. BUSINESS DIVESTITURES & EXPANSIONS
2.7. MARKET DRIVERS
2.7.1. GOVERNMENT POLICIES AND INCENTIVES PROMOTING ENERGY EFFICIENCY IN BUILDINGS
2.7.2. RISING ENERGY COSTS DRIVING DEMAND FOR RETROFITS TO REDUCE COSTS
2.7.3. INCREASED AWARENESS OF ENVIRONMENTAL IMPACTS DRIVING ADOPTION OF GREEN SOLUTIONS
2.7.4. ADVANCEMENTS IN RETROFIT TECHNOLOGIES IMPROVING EFFICIENCY AND LOWERING COSTS
2.7.5. GROWTH IN GREEN BUILDING CERTIFICATION PROGRAMS SUPPORTING RETROFIT ACTIVITIES
2.8. MARKET CHALLENGES
2.8.1. HIGH UPFRONT COSTS AND LONG PAYBACK PERIODS
2.8.2. LACK OF FUNDING AND FINANCING OPTIONS FOR RETROFIT PROJECTS
2.8.3. DISRUPTIONS CAUSED BY RETROFIT ACTIVITIES
2.8.4. LACK OF SKILLED PERSONNEL TO IMPLEMENT ADVANCED RETROFIT SOLUTIONS
2.9. MARKET OPPORTUNITIES
2.9.1. LEVERAGING IOT AND DATA ANALYTICS TO OPTIMIZE THE EFFICIENCY OF RETROFITS
2.9.2. INNOVATIVE BUSINESS MODELS SUCH AS ESCOS TO OVERCOME COST BARRIERS
2.9.3. INCREASED ADOPTION OF DEEP RETROFITS
2.9.4. CONVERGENCE OF RETROFITS WITH RENEWABLE ENERGY, STORAGE, AND EVS
2.10. ANALYST PERSPECTIVE
3. LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET – BY APPLICATION
3.1. RESIDENTIAL
3.2. COMMERCIAL
3.3. INSTITUTIONAL
4. LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET – BY PRODUCT
4.1. ENVELOPE
4.2. HVAC
4.3. LED LIGHTING
4.4. APPLIANCES
5. LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET – BY TYPE
5.1. QUICK WINS RETROFIT
5.2. DEEP RETROFIT
6. LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET – BY COUNTRY OUTLOOK
6.1. LATIN AMERICA
6.1.1. COUNTRY ANALYSIS
6.1.1.1. BRAZIL
6.1.1.1.1. BRAZIL ENERGY RETROFIT SYSTEM MARKET FORECAST & PROSPECTS
6.1.1.2. MEXICO
6.1.1.2.1. MEXICO ENERGY RETROFIT SYSTEM MARKET FORECAST & PROSPECTS
6.1.1.3. REST OF LATIN AMERICA
6.1.1.3.1. REST OF LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET FORECAST & PROSPECTS
7. COMPETITIVE LANDSCAPE
7.1. AMERESCO
7.1.1. OVERVIEW
7.1.2. PRODUCT PORTFOLIO
7.1.3. KEY STRENGTH
7.1.4. KEY CHALLENGE
7.2. EATON CORPORATION PLC
7.2.1. OVERVIEW
7.2.2. PRODUCT PORTFOLIO
7.2.3. KEY STRENGTHS
7.2.4. KEY CHALLENGE
7.3. DAIKIN INDUSTRIES LTD
7.3.1. OVERVIEW
7.3.2. PRODUCT PORTFOLIO
7.3.3. KEY STRENGTH
7.3.4. KEY CHALLENGE
7.4. AECOM
7.4.1. OVERVIEW
7.4.2. PRODUCT PORTFOLIO
7.4.3. KEY STRENGTHS
7.4.4. KEY CHALLENGE
7.5. JOHNSON CONTROLS INTERNATIONAL PLC
7.5.1. OVERVIEW
7.5.2. PRODUCT PORTFOLIO
7.5.3. KEY STRENGTHS
7.5.4. KEY CHALLENGES
7.6. SIEMENS AG
7.6.1. OVERVIEW
7.6.2. PRODUCT PORTFOLIO
7.6.3. KEY STRENGTHS
7.6.4. KEY CHALLENGE
7.7. ORION ENERGY SYSTEMS INC
7.7.1. OVERVIEW
7.7.2. PRODUCT PORTFOLIO
7.7.3. KEY STRENGTHS
7.7.4. KEY CHALLENGE
7.8. SCHNEIDER ELECTRIC SE
7.8.1. OVERVIEW
7.8.2. PRODUCT PORTFOLIO
7.8.3. KEY STRENGTHS
7.8.4. KEY CHALLENGES
7.9. SIGNIFY HOLDING
7.9.1. OVERVIEW
7.9.2. PRODUCT PORTFOLIO
7.9.3. KEY STRENGTHS
7.9.4. KEY CHALLENGES
7.10. GENERAL ELECTRIC COMPANY
7.10.1. OVERVIEW
7.10.2. PRODUCT PORTFOLIO
7.10.3. KEY STRENGTHS
7.10.4. KEY CHALLENGES
8. RESEARCH METHODOLOGY & SCOPE
8.1. RESEARCH SCOPE & DELIVERABLES
8.2. SOURCES OF DATA
8.3. RESEARCH METHODOLOGY

LIST OF TABLES
TABLE 1: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY REGIONAL OUTLOOK, HISTORICAL YEARS, 2020-2023 (IN $ MILLION)
TABLE 2: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY REGIONAL OUTLOOK, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 3: REGULATORY FRAMEWORK
TABLE 4: LIST OF COLLABORATIONS
TABLE 5: LIST OF PRODUCT LAUNCHES
TABLE 6: LIST OF ACQUISITIONS
TABLE 7: LIST OF BUSINESS DIVESTITURES & EXPANSIONS
TABLE 8: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY APPLICATION, 2024-2032 (IN $ MILLION)
TABLE 9: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY PRODUCT, 2024-2032 (IN $ MILLION)
TABLE 10: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY TYPE, 2024-2032 (IN $ MILLION)
TABLE 11: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY REGIONAL OUTLOOK, HISTORICAL YEARS, 2020-2023 (IN $ MILLION)
TABLE 12: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY REGIONAL OUTLOOK, FORECAST YEARS, 2024-2032 (IN $ MILLION)

LIST OF FIGURES
FIGURE 1: MARKET MATURITY ANALYSIS
FIGURE 2: SUPPLY CHAIN ANALYSIS
FIGURE 3: KEY BUYING IMPACT ANALYSIS
FIGURE 4: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY APPLICATION, 2023 & 2032 (IN %)
FIGURE 5: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY RESIDENTIAL, 2024-2032 (IN $ MILLION)
FIGURE 6: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY COMMERCIAL, 2024-2032 (IN $ MILLION)
FIGURE 7: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY INSTITUTIONAL, 2024-2032 (IN $ MILLION)
FIGURE 8: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY PRODUCT, 2023 & 2032 (IN %)
FIGURE 9: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY ENVELOPE, 2024-2032 (IN $ MILLION)
FIGURE 10: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY HVAC, 2024-2032 (IN $ MILLION)
FIGURE 11: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY LED LIGHTING, 2024-2032 (IN $ MILLION)
FIGURE 12: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY APPLIANCES, 2024-2032 (IN $ MILLION)
FIGURE 13: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY TYPE, 2023 & 2032 (IN %)
FIGURE 14: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY QUICK WINS RETROFIT, 2024-2032 (IN $ MILLION)
FIGURE 15: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY DEEP RETROFIT, 2024-2032 (IN $ MILLION)
FIGURE 16: LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 17: BRAZIL ENERGY RETROFIT SYSTEM MARKET 2024-2032 (IN $ MILLION)
FIGURE 18: MEXICO ENERGY RETROFIT SYSTEM MARKET 2024-2032 (IN $ MILLION)
FIGURE 19: REST OF LATIN AMERICA ENERGY RETROFIT SYSTEM MARKET 2024-2032 (IN $ MILLION)