Green Building Market: Current Analysis and Forecast (2021-2027)

Report Description

The global green building market was stood at US$ 500 billion in 2020 and is expected to showcase robust double-digit growth during the forecast period. As the trend towards going green continues, many countries are rewarding homeowners who take steps to heat and cool their homes more efficiently thereby giving a boost to the green building market. Moreover, the rise in construction activities majorly in developing countries and consumers’ preference for reliable, sustainable, and environment-friendly construction due to its positive impacts on the overall environment and human health is driving the green building market. Besides sustainable construction, governments across the globe are focusing and taking initiatives for the green economy.

During the Covid-19 pandemic in early 2020, the majority of the countries and region witnessed a country-wide lockdown. This has impacted the overall demand for green building materials. The majority of the decline was witnessed in the industrial sector, where countries had imposed shut down of manufacturing facilities to reduce the spread of Covid-19 by disrupting the supply chain of building materials. However, demand for building materials is expected to come to normal post-2020.

Insights Presented in the Report

“Amongst Product Type, exterior products held prominent market share in 2020.”

Based on product type, the green building market is bifurcated into exterior and interior products. Exterior products which include water harvesting systems, solar systems, smart lighting systems, Heat ventilation air conditioning systems, and water treatment plants are the most important components and are extensively used in green buildings, therefore, make exterior sub-segment hold a lucrative market share.

“Amongst Application, residential sector held lucrative market share in 2020.”

Based on application, the market is sub-segmented into the residential and non-residential sectors. Of both, the residential sector holds a significant market share owing to strict and supporting government policies to promote less energy consumption by using smart technologies. Residential high-rise buildings have to follow strict government norms while constructing a building. However, with rapidly increasing industrialization nonresidential sector is likely to grow fastest during the forecast period.

“Asia-Pacific represents as the considerable markets in the Global Green Building Market.”

For a better understanding of the market adoption, the report provides detailed analysis for major regions and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. The Asia-Pacific is expected to see a high growth for green building owing to increasing governments’ focus on sustainable development and availability of a cost-competitive workforce. Since the region is facing problems due to increasing pollution and scarcity of water. The Asia-Pacific consisting of countries like China, India, Bangladesh, Indonesia, Pakistan, and Japan which lies in top 11 most populated countries in the world. Region is running out of resources and facing imbalances due to over population, due to which governments are taking important steps to control the imbalances.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the green building were the three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the green building industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up/top-down approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the green building market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the green building market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by product type and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of green building globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of green buildings. Further, we conducted factor analysis using dependent and independent variables such as growing demand for clean energy due to the growing urban population, increasing government investment in green buildings, etc. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the green building industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global green building market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and sub-segments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of green building across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the green building in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global green building market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of material and application.

The Main Objective of the Green Building Market Study

The current & future market trends of the global green building were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of green buildings in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product type and application
• Defined analysis of the regulatory framework for the green building industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the green building for the major countries
• Major regions/countries analyzed in the report include North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World.
• Company profiles of the green building players and the growth strategies adopted by them to sustain in the fast-growing market

Deep dive country-level analysis of the industry