The single-family housing green buildings market consists of construction, sales and maintenance of sustainable (green) single-family residential buildings, and related services for households. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact throughout a building`s life-cycle (design, construction, maintenance, operation, renovation and deconstruction).
The global single-family residential green buildings market is expected to decline from $119.63 billion in 2019 and to $116.46 billion in 2020 at a compound annual growth rate (CAGR) of -2.65%. 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 prevent and control such pandemic diseases in the coming years. The market is expected to recover and reach $150.95 billion in 2023 at a CAGR of 9.03%.