Press release
Green Roof Market to Surge to $3.9B by 2028 with CAGR 16.5% Driven by Climate Change Mitigation and Urban Planning
Green Roof Market Report
The green roof market size is expected to see rapid growth in the next few years. It will grow to $3.9 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to climate change mitigation, urban planning policies, rising energy costs, health and wellness trends, global sustainability goals. Major trends in the forecast period include technological advancements, biodiversity and habitat creation, energy efficiency and insulation, collaboration in the industry, government incentives and regulations.
Market Overview -
A green roof refers to a layer of vegetation positioned on top of a waterproofing system installed on a level or slightly inclined roof. These offer shade, absorb heat from the atmosphere and lower air and roof surface temperatures.
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Increase In The Construction Of Industrial, Commercial, And Residential Buildings
An increase in the construction of industrial, commercial, and residential buildings is expected to propel the growth of the green roof market going forward. The construction of industrial, commercial, and residential buildings refers to a business that is engaged in the design, development, and construction of buildings using construction materials. Rising construction can promote heat generation and air pollution, which can be controlled by the installation of green roofs on top. For instance, in June 2021, according to a report published by Canada's national statistical agency, the investment in building construction increased from $14294 million in April 2019 to $19273 million in 2020. Furthermore, in the 2022 U.S. Construction Cost Trends report, in the U.S., there is a rise in residential construction which will continue to drive up demand for materials and labor, escalating competition and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic's onset. Therefore, increasing demand for construction & infrastructure developments will drive the green roof market.
Competitive Landscape -
Major companies operating in the green roof market report are Sika AG, ArchiGreen Roof Ltd., Axter Ltd., Barrett Company LLC, Columbia Green Technologies, Bauder Flat Roofs Limited, Optigreen International AG, Green Roof Blocks LLC, Sempergreen BV, XeroFlor North America LLC, ZinCo GmbH, Soprema SAS, Onduline Group, Geo Green Power Limited, Q-BOT Ltd., Open Utility Ltd., Sunvigo GmbH, Dow Chemicals International Private Limited, Plant-e BV, ICAX Ltd., Bürgerwerke eG, Alchemy Geopolymer Solutions, Optigrun International, Green Roof Outfitters, Tremco Inc., Bioroof Systems Inc., Vitaroofs, Tajima Industries Ltd., Liveroof LLC, Roofing Superstore Inc., Eco Green Roofs Ltd., Christian Mahlstedt BA
Development Of Innovative Solutions
The development of innovative and smart green roofs is a trend gaining popularity in the green roof market. Major market players are concentrating their efforts on creating innovative green roof systems to sustain their position in the green roof market. For instance, in July 2020, Knauf Insulation and Sempergreen BV, a Netherland-based company operating in direct-green solutions for green roofs, living walls, and ground cover, launched the detention roof. It is an innovative green roof concept. The efficacy of the retention roof has been carefully tested, and during periods of heavy rain, the roof stores the excess rainfall and delays the outflow of water. This makes it possible for the detention roof to adhere to regulatory water policies.
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Key Segments -
The green roof market covered in this report is segmented -
1) By Type: Extensive, Intensive
2) By Distribution Channel: Online, Offline
3) By Application: Residential, Commercial, Industrial
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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