The Green Construction Market is expected to be valued at USD 610.61 Billion in 2027 from USD 264.64 Billion in 2019, registering a CAGR of 11.0% through the forecast period. The market is observing substantial growth accredited to the rising demand for minimal energy consumption in buildings and infrastructure. The growing focus and need to minimize greenhouse gas emissions and the increasing emphasis on ensuring the facilities are environmentally sustainable are projected to bolster the market growth over the estimated timeframe.
The market growth is also driven by the augmenting awareness of green products through various application areas. Tax incentives offered by policymakers across the globe for private businesses to increase the usage of environmentally sustainable products are estimated to propel the demand of the market in the projected timeline. Moreover, the increasing initiatives are taken by the government to encourage the adoption of market products to minimize global warming and reduce the release of toxic gases into the environment, thereby driving the market expansion.
The augmenting development of infrastructure activities in the residential sector is projected to boost the use and awareness of these products accredited to the rapid urbanization and better living conditions, thereby driving the industry growth. The development and upgrades of such products allow for environmental conservation and smart social change, augmenting the market growth in the near future.
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Key Highlights from Report:
- The green roof sub-segment is projected to expand exponentially over the forecast duration owing to the growing global warming alerts, which is driving the demand for natural methods to mitigate the rising heat.
- The residential sub-segment is forecast to register a significantly high CAGR throughout the projected timeline. The rapid urbanization in emerging economies and the augmenting demand for environmentally safe and sustainable buildings are projected to contribute to the segment’s growth. Furthermore, the emergence of eco-friendly building materials produced by numerous manufacturers is adding traction to the market growth.
- The Asia Pacific market is projected to proliferate at a considerable growth rate during the estimated time span owing to the accelerated urbanization and the rapid expansion of the industrial sector in emerging regions.
- Major companies of the market include The Whiting-Turner Contracting Co., Bauder Ltd., Certain Teed Corporation, Binderholz GmBH, The Turner Corp., Gilbane Building Co., Clark Group, Forbo International SA, Hensel Phelps, and Alumasc Group plc, among others.
- In 2020, DuPont reported the development of the next-generation of Styrofoam™ Brand Insulation to reduce greenhouse gas emissions to confer high-performance modern building designs. The Styrofoam™ Brand Insulation is projected to lower GWP options, and it keenly follows the sustainability goals policies across the United States and Canada.
For the purpose of this report, Emergen Research has segmented the Global Green Construction Market on the basis of product, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Exterior Products
- Interior Products
- Building Systems
- Solar Products
Application Outlook (Revenue, USD Billion; 2017-2027)
- Residential Buildings
- Non-Residential Buildings
- Commercial & Office
- Hospitality & Leisure
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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