The Global Green Construction Market size was valued at USD 264.64 Billion in 2019 and is anticipated to reach USD 610.61 Billion by 2027 at a CAGR of 11.0%.
Vancouver, BC -- (SBWIRE) -- 12/22/2020 -- The growing need to mitigate greenhouse gas emissions and develop environmentally sustainable buildings is driving the need for green construction. According to the latest analysis by Emergen Research, the global Green Construction Market is forecasted to attain a market valuation of USD 610.10 billion by 2027, growing at an annual growth rate of 11% throughout the projected timeline. Sustainable buildings or green construction diminish waste due to their low carbon footprint usage of renewable energy sources. The stringent regulatory policies for energy-efficiency in facilities significantly increase the demand for green construction across the world.
Key participants include Alumasc Group Plc, Binderholz GmBH, Bauder Ltd., Forbo International SA, Certain Teed Corporation, The Turner Corp., Clark Group, Gilbane Building Co., Hensel Phelps, and The Whiting-Turner Contracting Co., among others.
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The market growth can be attributed to the growing awareness of green products due to their extensive application in various industry verticals. The green construction market is observing an augmented demand attributable to the rising requirement for minimal energy consumption from the buildings. The accelerating use of environmentally sustainable products and the tax incentives associated with it are expected to propel the growth curve of the market. Moreover, the rising imitative from the government to mitigate global warming and GHG emissions are further anticipated to augment the industry growth.
Product Outlook (Revenue, USD Billion; 2017-2027)
- Exterior Products
- Interior Products
- Solar Products
- Building Systems
The rise in infrastructure activities in the residential sector is estimated to result in increased usage and awareness owing to the rapid urbanization coupled with better living conditions. This will drive the demand in the coming years. The development of such products enables environmental conservation as well as smart social growth as compared to the traditional gravel-ballasted tops, which results in the urban heat issue and water shortages.
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Application Outlook (Revenue, USD Billion; 2017-2027)
- Residential Buildings
- Non-Residential Buildings
- Commercial & Office
- Hospitality & Leisure
The market growth is fueled by the increased awareness of these products through rising application areas. Tax incentives provided by the policymakers all over the world to private businesses for the usage of environment-friendly products are expected to propel demand during the forecast period. The government is encouraging the growth of the market product to mitigate global warming and eliminate the release of hazardous gases.
Asia Pacific is forecasted to be the fastest-growing segment, with a CAGR of 11.5%, owing to the high demand for environmentally sustainable infrastructure in China and India. Moreover, the rising disposable income and rapid urbanization are anticipated to fuel industry growth. North America is forecasted to retain its dominant position due to the soaringdevelopment of residential houses and rising renovation products.
To identify the key trends in the industry and read full summary click on the link: https://www.emergenresearch.com/industry-report/green-construction-market
The research provides answers to the following key questions:
- What is the expected market size of the Green Construction market for the forecast period 2020 - 2027? What will be the growth rate of the industry during the estimated period?
- What are the major driving forces shaping the future of the Green Construction industry worldwide?
- Who are the major vendors in the industry and what are their strategies to reap more profits and reduce costs?
- What are the trends from the past and future that are likely to favor the progress of the Green Construction industry worldwide?
- What are the major threats and challenges that hinder the development of the industry?
- What are the opportunities in store for the business owners operating in the market?
The green construction market in the Asia Pacific region is likely to grow at the fastest rate in the forecast period owing to swift urbanization and growth of the industrial sector in the developing economies.
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