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Global Green Building Market Anticipated to Surge, New Report Reveals
Green Building Market
Dublin, April 01, 2024 (GLOBE NEWSWIRE) -- The "Green Building Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
Sustainable Building Trends on the Rise
The global market for green buildings is witnessing a significant uptick, driven by growing environmental consciousness and supportive governmental policies. As sustainable practices gain traction in the construction industry, a new industry report points to a robust Compound Annual Growth Rate (CAGR) expected throughout the forecast period of 2018-2028. Environmentally sustainable construction, which focuses on energy efficiency, renewable energy integration, and waste reduction, is becoming increasingly paramount in building design and operations.
Government Regulations Catalyzing Green Construction
Global initiatives and policy frameworks are key factors propelling the green building sector forward. Building codes mandating energy efficiency, certification incentives, and renewable energy installations are among several legislative efforts bolstering the industry's expansion. These policies not only steer the market but also underscore the economic benefits offered by green buildings — from reduced operational costs to enhanced property valuation.
Consumers and Corporates Drive Demand for Eco-friendly Spaces
A significant surge in demand for green buildings is also attributed to heightened public awareness of environmental impacts. With an emphasis on health and sustainability, both commercial and residential consumers are showing a marked preference for eco-friendly living and working spaces. This shift in consumer mindset, coupled with the intent of many businesses to minimize their ecological footprints, is fostering a market increasingly receptive to green building projects.
Cost Considerations in Green Construction Materials
Despite the market's growth, the higher initial costs associated with green building materials could pose challenges. The advanced or sustainable manufacturing required for these materials can introduce significant costs; however, their durability and lower maintenance requirements present a potential for cost recovery over time. The market is navigating these financial dynamics as it evolves.
Increased Interest in Green Infrastructure Projects
The landscape of green infrastructure is expanding, as the benefits it offers — from stormwater management to urban beautification — are embraced on a wider scale. Investment in green spaces and ecologically sound water systems is climbing, reflecting a commitment to both community well-being and environmental stewardship.
Market Segmentation Overview
The market is segmented by product type into exterior and interior categories, with applications spanning residential and non-residential sectors. Geographically, the market is analyzed across key regions, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Competitive Landscape in the Green Building Market
The market is characterized by a competitive set of players, such as Alumasc Group Plc and Certain Teed Corporation, among others. As companies continue to align with sustainability goals, the industry is expected to see a surge in innovative building solutions. This wave of innovation is making the green building sector a highly competitive and ever-evolving marketplace.
In summary, the green building market is poised for strong growth, stimulated by regulatory support, increasing public consciousness, and the inherent long-term economic benefits of sustainable construction practices. The industry's trajectory points toward a more environmentally responsible future in global construction trends.
Key Attributes
Report Attribute | Details |
No. of Pages | 180 |
Forecast Period | 2023 - 2028 |
Estimated Market Value (USD) in 2023 | $498 Billion |
Forecasted Market Value (USD) by 2028 | $998.87 Billion |
Compound Annual Growth Rate | 12.2% |
Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
Alumasc Group Plc
Bauder Ltd.
Binderholz GmBH
Certain Teed Corporation
Forbo International SA
Clark Group
The Turner Corp.
Hensel Phelps
Gilbane Building Co.
The Whiting-Turner Contracting Co.
For more information about this report visit https://www.researchandmarkets.com/r/rj2dgp
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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