Global green building market is a very dynamic market and is expected to witness high growth over the forecast period. Most of the countries are adopting the green building concepts, which involves the use of materials and processes that are resource-efficient and environmentally responsible throughout the life cycle of a building. Emission reduction potential, the higher asset value of green buildings, growth in public awareness regarding green materials are the major factors driving the market growth of green building.
Recent trend shows that the government is pushing green buildings for energy efficiency and sustainability in the building sector. This has resulted in several regulations, by-laws, codes, and standards related to green buildings. Some governments have introduced incentives and sanctions related to green building performance, and it is clear that there is a clear positive shift towards and smart green buildings globally. Construction activities are increasing, across the globe, focusing towards advanced controls and building energy management systems. Additionally, emission reduction potential of materials, the higher asset value of environmentally friendly buildings, growth in public awareness regarding energy efficient materials such as insulation and windows, also majorly drive the market growth.
The environmental impacts of buildings are enormous and use large amounts of energy, land, water, and raw materials for their construction and operation. It is responsible for large greenhouse gas emissions as well as emissions of other harmful air pollutants and also generate large amounts of waste and has serious impacts on plants and animals. These buildings combine unique construction features which ensures efficient use of resources and specifies required building performance over the building life-cycle while minimizing the consumption of non-renewable resources and the environmental loadings to land, air, and waters.
Factors such as reduce emissions, conserves water, reduces waste and consumes less energy than conventional technologies which growing the popularity towards green building. Increasing number of funding for the development infrastructure, playing an important factor for the growth of the market in the coming years. Global green building market is expected to be growing at a CAGR of 10.26% from 2017 to 2023.
The mission of Green Building Council is to advance sustainable property and drive the adoption of green building practices. Its main objective is encouraging green building programs, design practices, technologies, and operations as well as the focusing on green building initiatives into mainstream design, construction, and operation of buildings. USGBC’s LEED green building program is one of the programs for the design, construction, maintenance and operations of green buildings, homes, and communities.