Asia Pacific Green Buildings Market : Latest market Trends and Forecast are being done after considering the Impact of this Pandemic

Overview of Green Building Market

Green building materials do not contain lead and may contribute to energy and building construction savings in the long run. Green buildings are an optimal solution to counter global warming and its effects.

Despite the tremendous growth observed in the construction of green buildings across Asia Pacific region, some economies still lags considerable support owing to several key challenges including, government incentives and regulations, market awareness, high capital requirement, and lack of skilled professionals. However, the Asia Pacific region is witnessing a rise in the construction of new building every year owing to rapid urbanization, some Asian countries does not promote energy savings practices due to low electricity prices. For instance, countries such as Malaysia, Philippines, Vietnam and Indonesia have both voluntary and mandatory standards for energy conservation, whereas Thailand and Singapore governments have implemented mandatory regulations for conservation of energy on building energy performance requirements.

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The efficiency in adopting building energy regulations differs considerably from country to country attributed to absence of implementation or government regulations to drive green building initiatives. Certain countries are setting determined goals for green building program, but not all are accompanied with appropriate set of incentives or rules to support growth.

Furthermore, as per Green Building Market Report South East Asia 2014, high costs of building material is also restraining the growth of adoption of green buildings in most of the Asian countries. The International Finance Corporation introduced, EDGE (Excellence in Design for Greater Efficiency), a building design tool that provides an inexpensive alternative to an expensive certification system by offering economical energy efficiency solutions precisely designed for emerging economies in Asia Pacific.

Lack of awareness among stakeholders regarding the benefits offered by green building construction is yet another obstacle for encouraging building automation in the Asia Pacific region. According to a report published by the World Green Building Council along with Dodge Data & Analytics and United Technologies Corporation, absence of public awareness is measured to be one of the major challenge for the development of the green building market in India. Also, Lack of green skills is a key restraint in Asian countries for promoting energy efficient building policies and programs. However, during the near future, it is expected that the government of these economies will take considerable initiatives to promote building automation.

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Green Building Market : Segments

Product

Exterior Products
Interior Products
Application

Residential
Non-residential

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