The Green Construction Market is estimated to be valued at US$ 365.35 Bn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Green construction focuses on minimizing environmental impact through efficient use of land, water, energy, materials and resources as well as protecting occupant health and improving employee productivity. Green construction materials and methods aim to reduce pollution and conserve natural resources. Some key advantages include lower operating costs, greater energy efficiency, compliance with environmental regulations and healthier indoor environment.

Market key trends:

The key trend toward sustainable construction materials and methods is expected to drive the green construction market growth over the forecast period. There is a rising demand for green building materials that have lower environmental footprint across their lifecycle such as renewable and recycled content materials. Construction companies are increasingly focusing on green construction techniques like efficient water and energy systems, renewable energy integration and reduced waste to lower project costs as well as gain a competitive advantage. Government support through favorable policies and incentives for green buildings is also promoting the adoption of sustainable construction practices.

Porter’s Analysis

Threat of new entrants: The Green Construction Market Size requires large investment for R&D to develop new green building materials and technologies, acting as a barrier for new companies.

Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of many vendors providing similar green building products and services.

Bargaining power of suppliers: Suppliers have moderate bargaining power as there are many substitutable raw material suppliers available in the market.

Threat of new substitutes: Threat is moderate as green building products are innovating to become more efficient substitutes to conventional materials.

Competitive rivalry: Intense due to the presence of many global and regional vendors competing on product quality, pricing and innovation.

SWOT Analysis

Strength: Green construction uses renewable and recyclable materials which reduces operational costs. Sustainable practices enhance brand image and attract environmentally conscious customers.

Weakness: Initial capital costs are higher than traditional construction methods. Installation of green technologies and products requires trained workforce.

Opportunity: Government regulations and incentivizes support widespread adoption of green building practices. Rising environmental awareness increases demand for sustainable construction solutions.

Threats: Economic slowdowns can impact discretionary spending on green premium products. Lack of standardized certification poses challenges in performance evaluation.

Key Takeaways

The global green construction market is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing environmental regulations on emissions and energy efficiency in buildings. Asia Pacific dominates the market currently due to supportive government policies and rapid urbanization in China and India.

Regional analysis: North America is the fastest growing region due to stringent energy codes and incentives such as tax credits for green buildings. Europe is another major market led by UK, Germany and Nordic nations with strong policy push for sustainability in the construction sector.

Key players: Key players operating in the green construction market are Alumasc Group Plc, Binderholz GmbH, Bauder Ltd, Forbo International SA, Certain Teed Corporation, The Turner Corp, Clark Group, Gilbane Building Co, Hensel Phelps, The Whiting-Turner Contracting Co. These companies compete based on their product portfolio, pricing, distribution network and innovation in green building materials.

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