Green Buildings Market Overview:
Green buildings market is projected to be worth USD 9,91,19,3 million by 2030, registering a CAGR of 17.48% during the forecast period (2022 – 2030), The market was valued at USD 4,50,80,0 million in 2021.
Materials used in green buildings are local and promote sustainability, allowing ample energy savings and adequate natural light. Therefore, green buildings offer an excellent alternative for environmentally friendly and long-lasting building solutions. Increasing demand for sustainable construction that can minimize energy consumption and improve performance, energy efficiency, and occupant’s comfort boosts market size.
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Competitive Analysis
List of the Key Companies Profiled in the Green Buildings Market Research Report are:
Bauder Limited (UK)
NATiVE (US)
Ginkgo Sustainability (Canada)
Green Build Products (I) Pvt. Ltd (India)
Kingspan Group plc (Ireland)
Saint Gobain S A (Germany)
E. I. du Pont de Nemours and Company (US)
SGS (Switzerland)
Green Building Store (UK)
Weinerberger AG (Austria)
The green buildings market witnesses several strategic initiatives, such as mergers & acquisitions, collaboration, expansion, and product launches. Leading industry players make strategic investments in R&D activities and expansion plans.
For instance, recently, on June 06, 2021, The CII-Indian Green Building Council (IGBC) announced signing a MoU with the Indian Institute of Architects (IIA) to strengthen the nation-wide green building movement & sustainable development in architectural design and planning. India is one of the top three countries across the globe in terms of the green building footprint, with over 6,548 green building projects running currently.
This engagement would help set new benchmarks in environmentally sensitive building design, resource conservation, and energy & environmental management globally. Also, the process would facilitate India to consolidate its leadership position in the global green buildings map.
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Rising Demand for Natural Disaster-Resistant Buildings Fuels Green Building Market Share
Widening scarcity of natural resources, such as groundwater and oils & gases levels, alongside adverse climatic conditions, promotes the need for green buildings. The rising demand for green buildings to provide energy-efficient housing solutions drive the green buildings market size.
Favorable government policies for the production and huge R&D investments made by construction technique developers are major green buildings market trends. Emerging nations worldwide present many untapped opportunities for the market, heading with government mandates and updated policies.
Besides, the growing construction and infrastructural activities worldwide alongside the rising preference for sustainable construction methods influence the green buildings market growth. With the vast demand and consumption of green buildings to build sustainable structures, the market share is estimated to accelerate further during the review period.
High Investments Required to Construct Green Buildings is a Major Setbacks
Moreover, volatility in price and the demand-supply gap in raw materials pose significant challenges for market growth. Nevertheless, energy codes pushing for higher thermal performance values in building walls would support market growth throughout the assessment period.
COVID 19 Impacts
The onset of COVID-19 promoted the green building concept more than ever. With social distancing rules, the pandemic has taken occupancy norms to different tangents, mandating building and office managers to guarantee compliance with regulations for a safe return to normality and optimize their energy consumption for employees working from home.
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Drivers
Most people around the world are concerned about the environment. They are also concerned about the effects of pollution on the environment. The masses are pressuring their governments to take action. Most governments around the world are responding. They are passing rules and regulations that require developers and contractors to use eco-friendly materials and solutions in their buildings. This factor has been a major driver of green building market growth.
Opportunities
The technologies needed to make green building materials have advanced tremendously in the past two decades. This has meant that companies have been investing much more in research and development. The objective has been to try to develop more advanced green building materials with more innovative applications and uses.
Segmentation
The report is segmented into products, applications, and regions. The product segment is sub-segmented into interior and exterior products. Similarly, the application segment is sub-segmented into residential and non-residential. By regions, the market is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Regional Analysis
The Asia Pacific region dominates the global green buildings market. The largest market share attributes to the growing consumer awareness of the benefits of green buildings. The region demonstrates high consumption potential and increasing production capacities. Moreover, ample raw material advantage and the availability of cost-competitive workforces are major driving forces behind the green buildings market growth in the region.
Also, the spurring rise in the construction industry due to the ever-increasing population and economic growth drive market growth. Additionally, increasing R&D expenditures to develop cost-competitive building materials and numbers of green building projects influence the regional market growth. Rising consumption of green construction materials in residential and commercial buildings boosts the green buildings market size.
India is not just the largest green buildings market in the region but also poised to become a world leader in the next couple of years. Due to the rapid economic growth, energy consumption in the country has increased substantially over recent years. Also, the growth in the commercial sector and the shift from rural to urban living has vastly influenced the living standards in India.
This, as a result, is expected to increase the demand for energy and subsequent emissions from the buildings sector, further promoting the need for concentrated efforts to bring down the energy consumption by buildings through various measures. Besides, the rise in construction activities and preference for green construction due to its positive impact on the overall environment and human health would help the market growth in the country.
Segmentation of Market covered in the research:
Information by Product (Interiors, Exteriors), Application (Residential, Non-residential), and Region and by Region (North America, Europe and Asia-Pacific)
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The global green building industry is eyeing for a momentous growth at 10.12% CAGR over the predicted years (2018-2023).
Some of the common materials utilized in the construction of such buildings include recycled plastic, grasscrete, timbercrete, rammed earth, wood, mycelium, straw bales, hempcrete and bamboo.
These factors as per the Market Research Future (MRFR) report include focus on superior quality products, rising need for renewable resources, consumers changing lifestyle, technological innovation, increasing funds for the development and commercialization of refueling infrastructure, and benefits over conventional technologies such as consumes less energy, reduces waste, conserves water and reduces emissions.
On the contrary, limited awareness regarding the utilization and advantages of eco-friendly materials used in construction in underdeveloped and remote regions and high production cost related to manufacturing packaging materials that are green may hamper the growth of the green building market over the predicted years.Key PlayersLeading players profiled in the green building market include Green Building Store (U.K.), Weinerberger AG (Austria), E. I. du Pont de Nemours and Company (U.S.), SGS (Switzerland), Saint Gobain S.A. (Germany), Green Build Products (I) Pvt Ltd (India), Kingspan Group plc (Ireland), Ginkgo Sustainability (Canada), Bauder Limited (U.K.), NATiVE (U.S.), and others.May 2019- The Williams Parkway Operations Centre has attained LEED Gold certification from the Green Building Council in Canada.
This is an administrative building having public and staff parking, green space, event terrace and a garden.
Exterior products are further segmented into building systems, solar products, HVAC systems, smart lighting and others.
