The Green Construction is Accelerating Towards Sustainability by Embedding Eco-Friendly Practices

The Green Construction is Accelerating Towards Sustainability by Embedding Eco-Friendly Practices

The green construction industry involves the practice of reducing the negative environmental impact of buildings by increasing efficiency and following ecological principles. This includes design, construction, operation, maintenance, renovation and demolition techniques with a focus on energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality and stewardship of natural resources.

The Global Green Construction Market is estimated to be valued at US$ 420.89 Bn in 2024 and is expected to exhibit a CAGR of 16.% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the green construction industry are JVC Kenwood Corporation, Tait Ltd., Thales Group S.A., Nokia Networks B.V., Raytheon Company, RELM Wireless Corporation, Airbus DS Communications, Inc., Motorola Solutions Inc., Harris Corporation and Hytera US Inc. Growing environmental awareness and regulatory push towards sustainability has fueled the demand for green construction practices globally. With increasing innovation, green construction is gaining traction across both residential and non-residential sectors. Major players are expanding their operations in emerging nations to tap the opportunities in high growth markets.

Market Key Trends

One of the major trends gaining traction in the Green Construction Market Trends construction market is the use of advanced building materials that are efficient and eco-friendly. Materials like cross-laminated timber, bamboo, recycled content materials and mass timber are increasingly used in modern construction projects. These innovative materials allow buildings to be constructed quicker with less impact on the environment compared to traditional materials.

Porter’s Analysis

Threat of new entrants: High initial capital requirements with new product development and innovation acts as a barrier. Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative material and Green Construction suppliers. Threat of new substitutes: Threat of new substitutes is high due to rapid technological advancement in construction material. Competitive rivalry: Intense competition exists among existing players to gain market share.

Geographical Regions

Green Construction Market Regional Analysis accounts for the major share in terms of value owing to stringent government regulations towards environment conservation and sustainability goals set by organizations. Asia Pacific region is expected to witness the fastest growth over the forecast period due to rapid urbanization and industrialization leading to increased construction activities in developing countries like China and India.

The green construction market in Europe is dominated by countries like Germany, France and United Kingdom holding over 50% share of the overall market in the region attributable to presence of advanced infrastructure, funding and subsidies provided by governing bodies for adoption of green technologies.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.

About Author - Ravina Pandya

Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.  LinkedIn Profile