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Green Building Market Size, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3487

Green Building Market size will experience significant rise over 2021-2027 catalyzed by the increasing demand for infrastructure with lower greenhouse gas emissions. Investments in green building projects are rising due to increasing awareness pertaining to the environment as well as human health. Meeting the need for new construction through green buildings can spur sustainable, low-carbon economic growth in developed as well as emerging economies.              

Green building construction worldwide is gaining momentum owing to benefits like less energy consumption and reduced operational and maintenance costs. Governments, especially in developing countries, are offering new policies and initiatives to promote green construction. With rapid rates of urbanization, commercial expansion, and industrial development, emerging countries are creating favorable opportunities for the green building industry. According to the International Finance Corporation (IFC), green buildings represent a significant low-carbon investment opportunity in developing countries.

The residential green building market share is slated to expand rapidly during the forecast period 2021-2027. The expansion is attributable to the tightening regulations and policies mandating energy-efficient infrastructure. In July 2021, the U.S. International Code Council (ICC) had approved updates to the International Energy Conservation Code (IECC) building codes which could reduce energy costs in residential buildings by up to 8.6%. Various green building components in the market include interior and exterior products, solar components, building systems, among others.

In emerging economies, investments in energy-efficient residential townships and high-rise buildings are increasing in order to accommodate the burgeoning urban population in a sustainable way. Meanwhile in developed countries, growing number of residential renovation projects to enhance energy-efficiency and sustainability and meet the latest building codes is driving the residential green building market expansion.

North America green buildings market size in will witness commendable growth by 2027 led by the demand for energy-efficient infrastructure and increasing number of building revamp projects. The ongoing efforts by federal organizations mandating the use of greener technologies in construction will positively impact the regional growth. In May 2020, the U.S. Green Building Council (USGBC) had unveiled a new strategy to leverage Leadership in Energy and Environmental Design (LEED), the international green building rating system, to support green building projects in the post-COVID-19 era.

As per the new initiative, USGBC had updated existing LEED strategies to introduce new approaches to tackle the public health crisis. Such initiatives will supplement North America green building industry growth after the COVID-19 pandemic. 

DuPont de Nemours and Company, Kingspan Group plc, Ginkgo Sustainability, The Alumasc Group Plc, Green Building Store, Green Build Products Pvt Ltd, Lafarge, Forbo International SA, Owens Corning, Korte, Bauder Limited, Binderholz Gmbh, and E. I. Weinerberger AG are among the notable names in the green building market.

What is the impact of COVID-19 on green building industry trends?

The COVID-19 pandemic and subsequent disruption has negatively impacted green building market forecast. With most countries forced to go into lockdown, major construction and infrastructure projects were put on hold. Supply chain issues, work stoppages, and workforce shortages due to government measures to curb the spread of the coronavirus have created numerous challenges for the industry. These disruptions, however, are expected to be short term, and the market is anticipated to recover in the forthcoming years at a steady pace.

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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