Green Buildings Segmentation
Application (Residential, Non-Residential Buildingss)
The non-residential segment in the green buildings market is anticipated to hold the largest share of about 68% during the forecast period. Rapidly increasing urbanization and the rise in urban populations across the globe are leading to market growth. In 2022, the proportion of urbanized population worldwide has increased to 57 %. It is also due to the growing demand for environmentally friendly and sustainable solutions. In addition, it is now necessary for all construction companies not directly involved in the housing sector to prioritize sustainability design and construction techniques so that they can take advantage of the planet's limited resources. Sustainable business practices are crucial to green buildings, reducing energy consumption, and protecting natural resources throughout the majority of countries. Furthermore, the growing concern over climate change has led to environmentally responsible and sustainable activities which have increased demand for green buildings materials in non-residential buildingss. According to a recent study, 72% of consumers reported buying more eco-friendly products than five years ago. In five years, the number of worldwide online searches for sustainable goods has risen by 71%. In the case of eco-friendly brands, 55% of consumers are willing to pay more.
Product (Exterior Products, Interior Products, Buildings Systems, Solar Products)
Green buildings market from the solar products segment is expected to account for largest revenue share of about 52% over the forecast period. The fact that solar installation is extremely cost efficient, increases access to energy, and reduces the carbon footprint can be accounted for. Furthermore, the investment in photovoltaic panels and their maintenance is regarded as a safe bet that will help to drive future market growth. In 2021, solar power accounted for around 4% of the world's energy supply. That's an increase from 3% in 2020. The total contribution of renewable energies to overall electricity generation was 38%, with the solar sector accounting for 11.5%. Overall, this gives the figure of 4.37%.
Our in-depth analysis of the global green buildings market includes the following segments:
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