The nonresidential green buildings market consists of sales of nonresidential 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 our 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 Nonresidential Green Buildings.
The global nonresidential green buildings market is expected to decline from $85.1 billion in 2019 and to $79.05 billion in 2020 at a compound annual growth rate (CAGR) of -7.1%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The criteria for green building constructions are expected to change in preparedness to prevention and control of such pandemic diseases in coming years. The market is then expected to recover and reach $103.08 billion in 2023 at CAGR of 9.3%.
