The Nonresidential Green Buildings market has experienced rapid growth, progressing from $1034.1 billion in 2023 to $1160.01 billion in 2024, marking a CAGR of 12.2%. This growth is linked to increasing environmental awareness, energy efficiency, and corporate social responsibility. By 2028, the market is expected to reach $1853.45 billion, with a CAGR of 12.4%. Growth will be driven by stringent green building standards and the demand for healthy workspaces. Major trends will focus on water conservation, circular economy principles, and health-centric design.
Major Driver In The Nonresidential Green Buildings Market
The growth of the nonresidential green buildings market is propelled by an escalating need for sustainable and eco-friendly solutions in construction practices. According to the US Green Building Council (USGBC), green buildings boast significant environmental benefits, including a 34% reduction in carbon emissions and 25% less energy consumption compared to conventional buildings. Notably, China leads the global ranking with 1,077 certified LEED projects, followed by Canada and India. Commercial construction companies increasingly prioritize sustainable design and construction techniques to responsibly utilize finite resources. The imperative to adopt sustainable practices stems from heightened concerns about global warming, driving the demand for nonresidential green buildings and sustainable construction techniques. Projections for market size in 2023, 2024, and 2028 underscore the sector's promising growth trajectory.
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Nonresidential Green Buildings Market Competitive Landscape
Turner Construction Company, AECOM Technical Services Inc., Balfour Beatty Construction Inc., Whiting-Turner Contracting Company, The Whiting-Turner Contracting Company, Lendlease Americas Inc., Gilbane Building Company, PCL Construction Enterprises Inc., Hensel Phelps Construction Co., DPR Construction Inc., HITT Contracting Inc., The Walsh Group LLC, Clark Construction Group, Holder Construction Company, JE Dunn Construction Group Inc., Swinerton Builders, McCarthy Holdings Inc., Suffolk Construction Company Inc., Consigli Construction Company Inc., The Haskell Company, Ryan Companies US Inc., Austin Industries Inc., Skanska USA Civil Inc., The Beck Group Inc., The Weitz Company Inc., Mortenson Inc., The Boldt Company, Webcor Builders Inc., The Opus Group, The Korte Company, The Christman Company, The Barton Malow Company
Key Nonresidential Green Buildings Market Trend
Living roofs, or green roofs, are increasingly being implemented in green buildings. A green roof is a roof of a building that is covered with vegetation and soil, or a growing medium, planted over a waterproofing membrane. Green roofs last longer when compared to conventional roofs. They also reduce energy costs with natural insulation, reduce temperatures (heat and cold) by absorbing and trapping them, reduce storm water runoff, filter pollutants and carbon dioxide out of the air, and increase wildlife habitat in built-up areas. It is believed that to reduce the ambient temperature of the city by 2%, 8% of the roofs in the city must be greener. In the USA, around 25 cities have some sort of programme to encourage green roofs, and in Portland, Ore., it is mandatory to have vegetation cover 100% of the roofs on buildings in the central city over 20,000 square feet (with some exceptions). Therefore, green roofs are an emerging trend in the nonresidential green buildings market.
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Nonresidential Green Buildings Market Segmentation
The nonresidential green buildings market covered in this report is segmented –
1) By Product: Interior Products, Exterior Products
2) By Component: Roofing, Insulation, Framing, Exterior Siding, Interior Finishing, Other Components
3) By Application: Office, Education, Hotels and Restraurants, Retail, Institutional/ Assembly, Healthcare , Warehouse
By Geography:The regions covered in the nonresidential green buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the nonresidential green buildings market in 2023.
The Nonresidential Green Buildings Global Market Report 2024 furnishes information about the global nonresidential green buildings market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
