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Industry Landscape
The building systems and infrastructure services industry is experiencing significant growth, driven by increasing demand for energy efficiency, sustainability, and smart building technologies. Regulatory pressures, corporate ESG goals, and the need for resilient, high-performance infrastructure are fueling investment in advanced MEP systems, retrofits, and comprehensive maintenance solutions, particularly in mission-critical sectors.
Total Assets Under Management (AUM)
Commercial and Industrial Construction Spending in United States
~Approximately 1.9 trillion USD (2023 estimate for total US construction spending, commercial/industrial components vary)
(5-7% CAGR)
- Driving factors include data centers, manufacturing, and infrastructure.
- Interest rate hikes may temper some new project starts.
- Strong demand for sustainable and high-performance buildings continues.
Total Addressable Market
500 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Building Management Systems
AI and machine learning are increasingly integrated into BMS to optimize energy consumption, predict maintenance needs, and enhance occupant comfort through autonomous control.
Digital Twins for Building Lifecycle Management
Digital twins create virtual replicas of buildings, enabling real-time monitoring, predictive analysis, and optimized design and operations throughout the building's lifecycle.
Advanced Prefabrication and Modular Construction
Increased use of off-site prefabrication and modular construction for MEP components streamlines installation, reduces waste, and improves quality and speed of project delivery.
Impactful Policy Frameworks
Inflation Reduction Act (IRA) 2022
The Inflation Reduction Act (IRA) of 2022 offers significant tax credits, rebates, and grants for energy efficiency improvements, renewable energy deployment, and electrification in commercial and industrial buildings.
The IRA directly incentivizes clients to invest in Legence's core services, driving demand for energy-efficient retrofits, renewable energy solutions, and sustainable building designs.
Building Performance Standards (BPS)
Various states and cities (e.g., New York City Local Law 97, Washington State Clean Buildings Act) are implementing mandatory Building Performance Standards (BPS) that set energy and emissions limits for existing large buildings, with penalties for non-compliance.
BPS create a strong regulatory push for building owners to upgrade their systems, increasing demand for Legence's energy auditing, optimization, and sustainability consulting services to ensure compliance and avoid fines.
ASHRAE Standard 90.1-2022
ASHRAE Standard 90.1-2022, 'Energy Standard for Buildings Except Low-Rise Residential Buildings,' provides minimum requirements for the energy-efficient design of new buildings and major renovations.
This updated standard raises the bar for energy performance in building design and construction, compelling developers and owners to seek Legence's expertise in designing and installing highly efficient MEP systems to meet compliance.
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