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Green Roof Market 2024-2033: Size, Global Industry Trends, and Growth Forecast
Green Roof Global Market Report 2024
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According to The Business Research Company's, The green roof market size has grown rapidly in recent years. It will grow from $1.8 billion in 2023 to $2.11 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to environmental awareness:, regulatory support, urbanization trends, building codes and standards, energy efficiency concerns.
The green roof market size is expected to see rapid growth in the next few years. It will grow to $3.9 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to climate change mitigation, urban planning policies, rising energy costs, health and wellness trends, global sustainability goals. Major trends in the forecast period include technological advancements, biodiversity and habitat creation, energy efficiency and insulation, collaboration in the industry, government incentives and regulations.
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Market Drivers and Trends:
The increase in demand for green buildings is expected to propel the growth of the green roof market going forward. Green building is the discipline of designing structures and employing procedures from site selection to design, construction, operation, service, remodeling, and deconstruction that are ecologically responsible and resource efficient. As green roofs are utilized to produce green buildings, the demand for these roofs is also expanding. For instance, in April 2022, according to a report published by CBRE India, a commercial real estate services and investments company, green building has received a lot of attention over the past five years. During that time, the supply of green certified buildings increased by 37%, adding 78 million square feet of certified stock. Therefore, the increasing demand for green buildings is driving the growth of the green roof market during forecast period.
The development of innovative and smart green roofs is a trend gaining popularity in the green roof market. Major market players are concentrating their efforts on creating innovative green roof systems to sustain their position in the green roof market. For instance, in July 2020, Knauf Insulation and Sempergreen BV, a Netherland-based company operating in direct-green solutions for green roofs, living walls, and ground cover, launched the detention roof. It is an innovative green roof concept. The efficacy of the retention roof has been carefully tested, and during periods of heavy rain, the roof stores the excess rainfall and delays the outflow of water. This makes it possible for the detention roof to adhere to regulatory water policies.
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Major Key Players of the Market:
Sika AG, ArchiGreen Roof Ltd., Axter Ltd., Barrett Company LLC, Columbia Green Technologies, Bauder Flat Roofs Limited, Optigreen International AG, Green Roof Blocks LLC, Sempergreen BV, XeroFlor North America LLC, ZinCo GmbH, Soprema SAS, Onduline Group, Geo Green Power Limited, Q-BOT Ltd., Open Utility Ltd., Sunvigo GmbH, Dow Chemicals International Private Limited, Plant-e BV, ICAX Ltd., Bürgerwerke eG, Alchemy Geopolymer Solutions, Optigrun International, Green Roof Outfitters, Tremco Inc., Bioroof Systems Inc., Vitaroofs, Tajima Industries Ltd., Liveroof LLC, Roofing Superstore Inc., Eco Green Roofs Ltd., Christian Mahlstedt BA
Green Roof Market 2024 Key Insights:
• The green roof market size is expected to see rapid growth in the next few years. It will grow to $3.9 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%.
• Increase In The Construction Of Industrial, Commercial, And Residential Buildings
• Development Of Innovative Solutions
• Europe was the largest region in the green roof market share in 2023
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