Major players in the market are Turner Construction Co. , Clark group, AECOM, Swinerton, Hensel Phelps, Skansa, Lendlease, Holder Construction, Webcor and Walsh group. The global multifamily housing green buildings market is expected to grow from $97.
New York, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Multifamily Housing Green Buildings Global Market Report 2022" - https://www.reportlinker.com/p06193664/?utm_source=GNW
17 billion in 2021 to $116.63 billion in 2022 at a compound annual growth rate (CAGR) of 20%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $241.18 billion in 2026 at a CAGR of 19.9%.
The multi-family residential green buildings market consists of sales of multi-family residential green buildings and related services for occupation or rentals by households. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact, throughout a building’s life-cycle from siting to design, construction, operation, maintenance, renovation, and deconstruction.
The main types of multifamily housing green buildings are new construction and remodelling. Remodeling is the process of changing or modifying something’s structure, style, or shape.
Asia Pacific was the largest region in the multi-family residential green buildings market in 2021.Eastern Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Customers are more informed of the benefits and cost savings in the long run from sustainable and net-zero homes.Homebuyers are now well informed and are acknowledging the reference to healthier homes, quality construction, and high performance.
As per a report by The National Association of Home Builders’ (NAHB) authoritative, multi-family builders and remodelers said operating efficiency and long-term utility cost savings are the reason customers are convinced to invest in green construction of homes. Therefore, customer awareness on factors such as environmental impacts, sustainability, and long-term cost savings is driving the growth of the Multi-family residential green building market.
Consumers and Builders are targeting towards achieving more sustainable homes with a focus on minimizing carbon footprint by promoting self-sustainable homes, termed as Net-zero homes.A Net Zero home produces energy through various domestic renewable energy technologies such as solar panels, micro wind turbines, sinkholes, compost gas for its requirements.
It aims to produce at least as much energy as it consumes.Net zero home stock is projected to rise from 57,800 homes in 2019 to 534,500 homes in 2028.
Around 36% of multi-family home builders are building their homes green, 80% of them are dedicated green home builders with more than 90% of their projects green.The green builders are expected to grow to 47% by 2022 and are investing more in this segment.
These statistics show us an increasing trend of Net-zero homes in the Residential construction market.
Higher costs hinder the buyer and the supplier to invest more in multi-family residential green buildings.Green buildings cost higher than conventional homes and requires more initial investment.
High costs to construction firms would result in high costs to the buyers.As per Green Single Family and Multifamily Homes 2020, a new survey from the National Association of Home Builders and Dodge Data & Analytics, 86% of single family builders, 72% of single family remodelers and 74% of multifamily builders/ remodelers agreed that green buildings costs more than traditional home building.
In addition to this, the majority of owners rent these homes and the renters enjoy the benefits of a green home for no additional premium. This perception is further restraining the homeowners to expend more on green buildings.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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