Green Building Market Industry Overview, Trends and Growth Opportunities Forecas
Posted by Market Research Future on May 8th, 2018
The Global Green Building Market is a very dynamic market and is expected to witness high growth over the forecast period. Besides being good to the environment, green buildings are resource efficient throughout their life cycle. Most countries are adopting the green building concepts, with the rest of the countries following. Eco-friendly construction involves the use of materials and processes that are resource-efficient and environmentally responsible throughout the life cycle of a building. Emission reduction potential of green building materials, higher asset value of green buildings, growth in public awareness regarding green materials, and increase in market demand are the major factors driving market growth. In addition, reduced operating costs and enhanced worker productivity due to healthier indoor environment will add to market demand for green building materials
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Green buildings incorporate unique construction features that ensure efficient use of resources such as water and energy. Green buildings are characterized as those providing the required building performance over the building life-cycle whilst minimizing consumption of non-renewable resources and the environmental loadings to land, air and water. Manufacturers or designers of green buildings are trying to reduce dependency on energy from non-renewable sources such as coal. For this, they install solar panels to make use of energy from the sun, and design windows in a way that allows as much natural light as possible. These other methods ensure that the building uses energy in an efficient manner.
Governments across all regions are seen promoting and developing their construction & infrastructure sector as infrastructure development is seen as contributing growth and development in several ways. Some of their initiatives in achieving the ideal growth are reducing transaction costs, increasing the durability of capital goods, fostering higher trade and investment, expanding demand and supply diversification. The emerging nations are particularly bringing various reforms and regulations to boost their infrastructure growth.
Green building market is expected to be promising during the forecast period due to the major driving factors such focus on high-quality products, changing lifestyle of consumers and rising demand renewable resources. The green building market is undergoing various changes with evolving customer expectations, acceleration of technological innovation, and shifts in competitive market. Green technology helps reduce emissions, conserves water, reduces waste and consumes less energy than conventional technologies. Increasing number of funding commitments for the commercialization and development of refueling infrastructure, will be crucial factors for the growth of the market in the years to come. Global green building market is expected to be growing at a CAGR of 10.12% from 2017 to 2023.
Among developing countries, the share of buildings in total energy use and emissions is much lower. But rapid economic growth and industrialization in these countries is pushing a booming construction sector. Construction activities are increasing, across the globe, particularly in countries such as India and China. People have been focusing more on green construction due to its advantages such as reduction of overall impact on environment as well as human health. Also, it reduces the operating cost. Hence, growing interest in green construction, and the improved cost efficiency of traditional buildings methods have increased the demand for this technology.
The key players of global green building market include Alumasc Group Plc (UK), Amvik Systems (Canada), BASF SE (Germany), Bauder Limited (UK), Binderholz GmbH (Germany), E. I. du Pont de Nemours and Company (U.S.), Forbo International SA (Switzerland), Interface Inc. (U.S.), Kingspan Group plc (Ireland), and Owens Corning (U.S.).
The report for Global Green Building Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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