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Nonresidential Green Buildings Global Market Report 2024 Market Size, Analysis, Trends, Overview And Forecast To 2033
Nonresidential Green Buildings Global Market Report
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According to The Business Research Company's, The nonresidential green buildings market size has grown rapidly in recent years. It will grow from $1034.1 billion in 2023 to $1160.01 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to environmental awareness and regulations, energy efficiency and cost savings, corporate social responsibility (csr), occupant health and productivity, market differentiation and brand image.
The nonresidential green buildings market size is expected to see rapid growth in the next few years. It will grow to $1853.45 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to stringent green building standards, global climate change mitigation goals, rising demand for healthy workspaces, financial incentives and tax credits, evolving tenant preferences. Major trends in the forecast period include water conservation measures, circular economy principles, carbon neutrality targets, health and wellness-centric design, government incentives and regulations.
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Market Drivers and Trends:
An increasing need for sustainable and eco-friendly solutions has contributed to the growth of the nonresidential green buildings market. According to the USGBC (U.S. Green Building Council) report, green buildings can reduce carbon emissions by 34% and consume 25% less energy than conventional buildings. For instance, in 2021, according to the annual ranking report from the US Green Building Council (USGBC), China is ranked first with 1,077 certified LEED projects that reduced carbon emissions, followed by Canada with 205 LEED projects and India with 146 LEED projects. It has now become essential for commercial construction companies to give priority to sustainable design and construction techniques to utilise our planet's finite resources in a sensible way. Encouraging sustainable business practises is an important reason for building green in most countries, for the conservation of energy and protection of natural resources. Moreover, increased concerns about global warming resulted in sustainable and eco-friendly activities, which increased the demand for the growth of nonresidential green buildings market.
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.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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
Nonresidential Green Buildings Market 2024 Key Insights:
• The nonresidential green buildings market size is expected to see rapid growth in the next few years. It will grow to $1853.45 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%.
• Rising Demand For Sustainable And Eco-Friendly Nonresidential Green Buildings
• Implementation Of Living Roofs Or Green Roofs
• Asia-Pacific was the largest region in the nonresidential green buildings market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
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Americas: +1 315 623 0293
Email: info@tbrc.info
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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