Green Building Market Trends, Top Companies, Share, Growth And Forecast 2033

The green building market size has grown strongly in recent years. It will grow from $537.94 billion in 2023 to $588.37 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increasing awareness of climate change and environmental sustainability, rising adoption of green building practices, promotion in eco-friendly construction, rising energy costs and a focus on energy conservation encourage energy-efficient building designs, long-term operational cost reductions, automation for efficient building management.

The green building market size is expected to see strong growth in the next few years. It will grow to $851.01 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to growing concern about the environment, the introduction of rules and regulations to use eco-friendly materials and solutions, environmental benefits of sustainable building practices, positive impact on the health and well-being of the people, increasing government support for sustainable building practices. Major trends in the forecast period include efficient and innovative production processes, the issue green financing instruments, environmental and sustainable practices, renewable energy solutions, and technological innovations.

Market Overview -
Green building refers to the practice of planning, building, operating, and maintaining buildings with a resource-efficient and environmentally responsible approach. Green building aims to reduce buildings' negative environmental effects while increasing their beneficial benefits to the health and well-being of occupants and communities.

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Sustainable Building Practices Drive The Growth Of The Green Building Market
The rising interest in sustainable building practices is expected to propel the growth of the green building market going forward. Sustainable building practices involve designing, constructing, and operating buildings in an environmentally responsible and resource-efficient manner throughout their lifecycle. Sustainable building practices are on the rise due to growing environmental awareness, economic benefits for building owners, and regulatory requirements. Green buildings promote sustainable development by reducing resource consumption, minimizing pollution, and creating healthier and more resilient built environments for current and future generations. For instance, in February 2024, according to the US Green Building Council, a US-based non-profit organization, in 2023, there was a 9% surge in LEED (Leadership in Energy and Environmental Design), the most widely used green building rating system in the world, certifications compared to the preceding year, accompanied by an additional 21 LEED certifications for single-family homes in the residential sector. Moreover, there was a remarkable 51% uptick in new LEED project registrations during the same period. Therefore, rising interest in sustainable building practices is driving the growth of the green building market.

Competitive Landscape -
Major companies operating in the green building market are Robert Bosch GmbH, BASF SE, Siemens AG, General Electric Company, Raytheon Technologies Corporation, Panasonic Corporation, LG Electronics Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Daikin Industries Ltd., Johnson Controls International plc, CEMEX S.A.B. de C.V., DuPont de Nemours Inc., Owens Corning, Kingspan Group plc, Signify N.V., Binderholz GmbH, Forbo International SA, Interface Inc., Alumasc Group plc, Amvik Systems Inc., Bauder Ltd., Plastiblok Ltd.

Key Players Innovate Sustainable Solutions for Building Materials
Major companies operating in the green building market are focusing on innovative solutions, such as green concrete solutions, to enhance sustainability and energy efficiency. A green concrete solution is an environmentally sustainable alternative to traditional concrete that aims to reduce carbon emissions, minimize resource consumption, and promote overall sustainability in the construction industry. For instance, in January 2023, ACC Limited, an India-based cement producer company, launched ACC ECOMaxX in India, marking a significant advancement in green concrete solutions within the industry. This comprehensive range offers a remarkable 30-100% reduction in embodied carbon content compared to conventional concrete made with ordinary Portland cement (OPC). These products use cutting-edge Green Ready Mix Technology to reduce CO2 emissions by up to 100%. ACC ECOMaxX delivers greater durability and flawless finishing by utilizing novel CO2-reduced binders and optimal mix formulations. This high-performance green concrete solution is meticulously crafted to meet the sustainable construction requirements of contractors, developers, engineers, architects, and individual home builders alike.

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Key Segments -

The green building market covered in this report is segmented -

1) By Product Type: Exterior Products, Interior Products, Building Systems, Solar Products, Other Product Types
2) By Application: Residential, Non-Residential Buildings
3) By End-Use: Roofing, Flooring, Insulation

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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