Global Green Roof Market Overview
The key driver impacting the green roof market is the expansion of the residential construction sector on account of the growing population and huge investment in green building real state companies. The usage of the living roof in the residential sector facilitates retaining and modifying the temperature of rainwater and acts as a natural filter, thus likely to create more green roof demand in the forecast period. For instance, As per World Economic Forum, the construction industry is expected to grow greatly in the coming years, to estimated revenues of $15 trillion by 2025. Residential housing accounts for 38% of the global construction volume. The Global ESG Benchmark for Real Assets (GRESB) report estimations show that in 2019, around 90 percent of Real Assets companies align their projects with green building rating standards for operations and construction. Certainly, green buildings stand as one of the largest global investment opportunities of the next decade, and it is estimated to be $24.7 trillion by 2030 by the International FinanceCorporation (IFC). Moreover, the tax benefits offered to private companies by governments across the globe for the adoption of green roofing materials and stringent rules and regulation enact by governments for reduction of high greenhouse gasses is estimated to be a significant factor that positively impacts market growth.
According to Value Market Research, the global green roof market size was valued at around USD 3.45 Billion in 2022 and is estimated to grow at a CAGR of about 18% during the forecast period of 2023 to 2030.
The high greenhouse gasses emissions from and residential and industrial sector and desirable properties and benefits of eco-friendly green roofs are estimated to augment green roof demand in the forecast period. For instance, the Commercial and Residential sector represents12.3 percent of 2018 greenhouse gas emissions, and the industrial segment represents 22.0 percent of 2018 greenhouse gas emissions. Due to growing population urbanization, this percentage is likely to grow at a significant rate. green roofs can be considered an energy-saving technology that provides benefits such as environmental friendliness and improvement of aesthetic and architectural qualities of buildings. However, the availability of cheaper substitutes may hamper the global green roof market in the long run. also, the lack of proper designing layout and guidelines for the installation of living roofs negatively impacts market growth. the current industry trends, such as the tax incentives that policymakers globally are providing to private businesses for the development of eco-friendly roofing products, are expected to provide market players with several market opportunities.
The green roof market is vast, with many local and global players. The key leaders follow different strategies to improve their market position, such as contracts, mergers, contracts, extending product portfolio, acquisitions, expansions, and product innovations to improve their market share globally. the known players included in the report are Optigreen International AG, Axter Ltd., Green Roof Blocks, Sempergreen, ZinCo GmbH, and Bauder Ltd.
In this research report, the green roof market is segmented by type, application, and region.
Analysis by Type:
By type, the report is categorized into extensive and intensive/. Extensive type dominates the type segment with over 50% share in 2020. It is due to the easy installation of extensive green roof systems along with rising environmental concerns. Moreover, the major adoption of the extensive green roofs across residential buildings, sheds, and garages thus, contributing to the high demand for extensive green roofs in the forecast period.
Analysis by Application:
By applications, the report is categorized as residential, commercial, and industrial. The residential segment dominates the application segment with over 45% share in 2020. It is due to the increasing demand for residential buildings owing to the rising global population. There is high adoption of green roofs as green roofing is beneficial for homeowners in improving the aesthetic features and air quality. Moreover, the rising awareness among people about the need for environmental protection drives the demand from the residential segment in the forecast period.
Analysis by Region:
In the regional outlook of the global green roof market, the Europe region dominates with a 30% market share during the forecast period. The growing research and innovation policies by the European Commission for implementing nature-based solutions are the critical factor driving regional growth. Moreover, the notable product demand in Germany is observed since the government in the country is incessantly designing and encouraging living roof policies that contribute to the development of the green roof market across North America.
Market Segmentation covered in the Report:
By Type
By Application
- Residential
- Commercial
- Industrial
By Region
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
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