Large
paragraph: The global Green Construction Market involves the construction of
structures and use of processes that are environmentally responsible and
resource-efficient throughout a building's life-cycle, from siting to design,
construction, operation, maintenance, renovation, and deconstruction. It also
involves using materials that conserve natural resources, minimize strain on
the environment, and reduce waste. The need for sustainable construction
techniques is rising due to increasing awareness about climate change and
environmental protection. The global Green Construction Market is estimated to
be valued at US$ 365.35 Bn in 2023 and is expected to exhibit a CAGR of 6.8%
over the forecast period 2023 to 2030, as highlighted in a new report published
by Coherent Market Insights.
Market key trends:
Increased focus on sustainability is one of the key trends driving the growth
of the green construction market. Governments across the globe are implementing
various policies and regulations to promote sustainable construction practices.
For instance, the European Union aims to make all new buildings climate neutral
by 2030. In the US, states like California have adopted stricter building codes
to reduce greenhouse gas emissions from buildings. Growing environmental
consciousness among consumers is also prompting builders to incorporate green
features like solar panels, water conservation systems, energy-efficient
materials in residential and commercial projects. The market is expected to
witness significant traction as sustainable construction is increasingly
becoming mainstream to reduce the carbon footprint of the built environment.
Segment Analysis
The global green construction market is divided into various segments based
on product, end-use sector and geography. Based on product, the market is
bifurcated into exterior products and interior products. The exterior products
segment currently dominates the market as they account for over 60% share. This
is because exterior construction products like green cement, renewable
materials and energy-efficient windows require less maintenance and have better
lifecycle performance.
Key Takeaways
The global Green
Construction Market Size is expected to witness high over the forecast
period of 2023 to 2030. Rapid urbanisation and increasing focus on
sustainability are driving the adoption of green building codes and standards
globally.
Regional analysis: North America
dominates the global green construction market and is expected to remain the
highest revenue generating region during the forecast period. Stringent
regulations regarding resource efficiency and leadership programs like ENERGY
STAR in the US are promoting green building practices in commercial and
residential properties.
Key players: Key players operating
in the green construction market are Johnson & Johnson Services, Inc., 3M,
Baxter, Coloplast A/S, Integra LifeSciences, Medtronic, Omeza, Cardinal Health,
Bactiguard AB, Noventure, Essity, Schulke & Mayr GmbH, Smith & Nephew
Plc., Convatec Group PLC, SANUWAVE and SANUWAVE Health, Inc., EO2 Concepts,
Wound Care Advantage, LLC., Healthium Medtech Limited, Arch Therapeutics, Inc.,
Hydrofera, Sanara MedTech Inc., Axio Biosolutions Pvt Ltd., and Gentell, Inc.
Strategic partnerships and product innovation are among the key strategies
adopted by these players to increase their market share.
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