Green Roof Market to Witness Exponential Growth by 2025

06/apr/2020 10:45:59 Market Research News Contatta l'autore

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The global green roof market size is expected to reach USD 21.76 billion by 2025 registering a CAGR of 17.1%, according to a new report by Grand View Research, Inc. The growth is attributed to increasing product demand due to its benefits, such as reduced noise pollution, energy cost, and CO2 levels, increased lifespan of roofs, regulating building temperature, improved employee productivity and health, and increased building value. It also reduces and slows storm water runoff by absorbing and decreasing the velocity of the water, resulting in decreased flooding and pollution in the heavy rainfall areas.

Emphasis of city and policy planners on installing the green roof for better energy efficiency and to reduce costs and the impact of global warming is also expected to drive the market. For instance, San Francisco became the first major city in U.S. to mandate living roofs between 15 to 30% for most of the new construction under San Francisco’s Better Roofs Ordinance launched in January 2017. Denver also approved an initiative for newly built construction sites of area larger than 25,000 square feet.On the other hand, product installation and maintenance costs are acting as major restraints for the market growth.

Thus, various private companies and governments across the globe are launching subsidiaries and schemes to encourage the use of green roof. Based on type, the market is divided into extensive and intensive roofs. Extensive roof type segment held the largest market share of more than 86% in 2018 and will maintain its dominant position throughout the forecast years owing to the factors, such as low maintenance cost. Moreover, lesser capital cost per meter square and minimal irrigation and nutrient requirement will boost the product demand.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/green-roof-market

Further key findings from the study suggest:

  • Based on application, the residential segment is likely to have a significant growth due to rising product usage, especially in developed economies as a result of high per capita income
  • The commercial application is projected to be the largest as well as fastest-growing segment at a CAGR of 17.8% over the forecast period
  • Builders are increasingly installing green roofs as they receive rental premium. Tax credits, storm water fee credits, rebates, and development incentives are allotted to the constructors as substantial portion of green infrastructure cost
  • Intensive product type is estimated to witness the fastest CAGR from 2019 to 2025. Heavy weight and high maintenance and installation cost associated with these products tend to make up smaller market share of the segment
  • Some of the key companies of green roof market are Optigreen, Green Roof Blocks LLC, Axter Ltd., Hannor, and Bauder

Grand View Research has segmented the global green roof market on the basis of type, application, and region:

Green Roof Type Outlook (Revenue, USD Million, 2015 - 2025)

  • Extensive
  • Intensive

Green Roof Application Outlook (Revenue, USD Million, 2015 - 2025)

  • Residential
  • Commercial
  • Industrial

Green Roof Regional Outlook (Revenue, USD Million, 2015 - 2025)

  • North America
    • US.
  • Europe
    • Germany
    • UK.
    • Switzerland
  • Asia Pacific
    • China
    • Japan
  • Central & South America
    • Brazil
  • Middle East & Africa

About Grand View Research

 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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