Major players in the market are Turner Corp. ; Clark Construction; AECOM; Swinerton; Hensel Phelps; Skanska; Whiting-Turner Contracting Co. ; Holder Construction; Webcor; Walsh Group. The global non-residential green buildings market is expected to grow from $859.
New York, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nonresidential Green Buildings Global Market Report 2022" - https://www.reportlinker.com/p06193666/?utm_source=GNW
52 billion in 2021 to $951.77 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. 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 $1354.59 billion in 2026 at a CAGR of 9.2%.
The non-residential green buildings market consists of sales of non-residential green buildings.Green Buildings, in its design, construction or operation, have minimal or no negative impacts on environment and climate but have positive impacts by preserving precious natural resources and improve the quality of life.
This practice creates and uses healthier and more resource-efficient models of construction, renovation, operation, maintenance and demolition. The market consists of revenue generated by the companies and people by the sale of non-residential green buildings.
The main product types of non-residential green buildings are interior products and exterior products.Interior products are low-impact natural materials, including natural clay plaster, natural fiber flooring, paperless drywall, and low VOC content paints and coatings, that replace synthetic materials in the interior finishes of green buildings.
The major components include roofing, insulation, framing, exterior siding, interior finishing, others and are used in office, education, hotels and restaurants, retail, institutional/ assembly, healthcare, and warehouse.
Asia Pacific is the largest region in the nonresidential 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.
Increased need for sustainable and eco-friendly solutions contributed to the growth of the non-residential green building market. According to the USGBC (U.S. Green Building Council) report, green buildings can reduce carbon emission by 34% and consume 25% less energy than the conventional buildings. For instance, in India, by the end of 2019, there were more than 5,723 green building projects registered and most of the projects are commercial spaces. It has now become essential for commercial construction companies to give priority to sustainable design and construction techniques to utilize our planets finite resources in a sensible way. Encouraging sustainable business practices is an important reason for building green in most countries for conservation of energy and protecting natural resources. Moreover, increased concerns of global warming resulted in sustainable and eco-friendly activities increased the demand for Non-residential green building market.
Living roofs or green roofs is increasingly being implemented in green buildings.A green roof is a roof of a building that is covered with vegetation and soil, or a growing medium, planted over a waterproofing membrane.
Green roofs last longer when compared to conventional roofs.They also reduce energy costs with natural insulation, reduce the temperatures (heat and cold) by absorbing and trapping them, and reduce storm water runoff, filters pollutants and carbon dioxide out of the air and increase wildlife habitat in built-up areas.
It is believed that to reduce the ambient temperature of the city by 2%, then 8% of roofing in the city must be greener.In the USA, around 25 cities have some sort of program to encourage green roofs and in Portland, Ore, it is mandatory to have vegetation cover 100% of the roofs on buildings in the central city over 20,000 square feet (with some exceptions).
Therefore, green roof is an emerging trend in nonresidential green building market.
Concern about affordability and perception that green is for a high-end projects is expected to limit the growth of the non-residential green building market.Green is associated with high end projects is a growing perception worldwide.
According to North American Dodge Data & Analytics green building trends report, nearly 37% in US and 36% in Canada perceived those green buildings are not affordable and are only meant for high end projects and 1/3 of respondents in Germany perceived accordingly.Similarly, around 41% of UAE, 32% of Southeast Asians and 37% of South Africans reported it as an obstacle and acting as one of the major challenges.
Decreasing affordability due to increased perception that green is for a high end project is limiting the growth of the market.
The countries covered in the nonresidential green buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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