The global green building market is estimated to garner a hefty amount of revenue and grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing emphasis on usage of renewable energy resources across the world, and rise in development of green building concept in several developed and developing regions. According to the International Energy Agency, the use of renewable energy increased by 3 percent in the year 2020. Also, the total share of renewables in global electricity generation jumped to 29% in 2020, up from 27% in 2019. Along with these, governments of developed nations have introduced incentives and policies for the encouragement of green construction, which is also expected to accelerate market growth in the forthcoming years. Furthermore, low maintenance and operational costs of green buildings, and rising focus on emission free construction are projected to offer ample growth opportunities to the market in the near future.
The market is segmented by product type into exterior products, interior products, building systems, solar products and others, out of which, the solar products segment is anticipated to hold the largest share in the global green building market. This can be accounted to the fact that installing solar equipment is highly cost-effective, increases access to energy and reduces carbon footprint. In addition, solar panels are considered a secure investment with maintenance, which in turn is predicted to boost the growth of the market segment in the future. Moreover, on the basis of application, the segment for non-residential buildings is assessed to acquire the largest share over the forecast period owing to the rapidly increasing urbanization, and surge in urban population globally. CLICK TO DOWNLOAD SAMPLE REPORT
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
On the basis of geographical analysis, the global green building market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the rising industrial growth, shift in focus towards renewable energy sources, and growing promotion of green buildings in the region. As per the data provided by the World Bank, the industrial growth increased up to 3.601 percent in 2017, up from 2.781 percent in 2016. Apart from these, increasing demand for green buildings in the real estate industry is evaluated to drive the region’s market growth in the coming years. Additionally, North America is anticipated to grab the largest market share during the forecast period ascribing to the presence of excellent infrastructure, high consciousness associated with environmental hazards and surge in disposable income in the region.
The global green building market is further classified on the basis of region as follows:
Our in-depth analysis of the global green building market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are growing emphasis on renewable energy resources across the world and rising development of green building concept in developed and developing regions.
The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2030.
Market barriers regarding construction of green building are estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the rising industrial growth, and growing promotion of green buildings in the region.
The major players in the market are BASF SE, Bauder Limited, Binderholz GmbH, E. I. du Pont de Nemours and Company, Forbo International SA, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, application, and by region.
The solar products segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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