Green Technology in Construction Market Size is predicted to advance at a 8.2% CAGR during the forecast period for 2024-2031.
Green technology in the construction industry focuses on creating environmentally friendly and resource-efficient buildings and infrastructure. Green technologies describe environmentally friendly building solutions contributing to social and economic sustainability. The creation of energy from renewable sources is an alternative to fossil fuels, known to be destructive to the environment. This is why this solution is also called clean technology. In addition to reversing environmental damage, maintaining the environment is the primary objective of green technology. Green construction aims to minimize post-construction water, energy, and material use.
Additionally, it constructs zero-energy houses with reduced environmental impacts due to the utilization of sophisticated energy-saving technologies. Furthermore, Green building materials are becoming more popular as an alternative to conventional building supplies, which is expected to expand the market. The materials help mitigate climate change by lowering their carbon footprints. These materials are cost-effective and easy to maintain because they are energy-efficient and environmentally friendly. Compared to more conventional building materials, these advantages make them the clear winner.
However, the market growth is hampered by the high-cost criteria for the safety and health of Green Technology in the Construction Market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high green technology in construction because materials price fluctuations caused by rising demand from, and the relationship between supply and demand end-use industries are expected to limit market expansion. Compared to more conventional construction materials, these are more costly. Their prices can change based on designs, finishes, and fittings. The long-term benefits of green construction justify these materials' high initial investment prices. The COVID-19 pandemic severely affected the building industry and the economy as a whole. As a result of the pandemic, the building industry went through its darkest hour in the previous several decades. Construction projects worldwide have been halted or postponed due to a lack of available supplies, difficulties with logistics, an inadequate labour force, and general unpredictability.
Competitive Landscape
Some Major Key Players In The Green Technology in Construction Market:
- GE
- Siemens
- Holcim Group
- Johns Manville Corporation
- Knauf
- Kingspan Group
- Alumasc Group
- Saint-Gobain
- Andersen Corporation
- Koch Industries
- Interface Inc
- LG Hausys, Ltd
- Lixil Group
- Norbord Inc
- Owens Corning
- Other prominent players
Market Segmentation:
The green technology in the construction market is segmented based on type and application. Based on type, the market is segmented into HVAC Products and Water Solutions. As per the application segment, the market is categorised into Non-residential and Residential. Non-residential segment comprises Commercial & Office, Institutional, Industrial and Hospitality & Leisure.
Based On The Type, The Water Solutions Segment Is A Major Contributor To The Green Technology In Construction Market.
Water Solutions' green technology in the construction market is expected to lead with a major global market share. Purifying water is a crucial step toward a sustainable future. Disease prevention, wildlife and plant protection, and trash and recycling reduction are all benefits. Water treatment is necessary to ensure the safety of humans and other animals.
Non-Residential Segment To Witness Growth At A Rapid Rate.
The non-residential industry makes up the bulk of acrylic acid ester usage because long-term, environmentally conscious solutions are in high demand. Non-residential construction enterprises should prioritize sustainable design and building practices to maximize our planet's limited resources. Sustainable business practices are crucial to promote green building, energy savings, and resource protection, especially in countries like the US, Germany, the UK, China, and India.
In The Region, The North American Green Technology In Construction Market Holds A Significant Revenue Share.
The North American green technology in the construction market is expected to register a large market share in revenue in the near future. It can be attributed to the growing need for it in a wide range of construction, roofing, insulation, and other materials used in homes, businesses, and public buildings. In addition, Asia Pacific is estimated to grow rapidly in the global green technology construction market because of new low- and high-rise residential buildings, the remodelling of current buildings, and the building of brand-new industrial buildings.
Recent Developments:
- In Sept 2023, Kingspan unveiled a Sustainability Resource Center at the Greenbuild 2023 International Conference and Expo. The new website informed architects, general contractors, specifiers, and building owners about how the built environment affects the natural environment.
- In Oct 2022, Koch Engineered Solutions formed a strategic cooperation with ION Clean Energy. The alliance aimed to enhance plant design across several industries by integrating ION's advanced technologies with subject matter expertise from the companies in KES.
Green Technology in Construction Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 8.2 % from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
GE, Siemens, Holcim Group, Johns Manville Corporation, Knauf, Kingspan Group, Alumasc Group, Saint-Gobain, Andersen Corporation, Koch Industries, Interface Inc., LG Hausys, Ltd., Lixil Group, Norbord Inc., Owens Corning and other prominent players. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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