The latest market report published by Credence Research, Inc. “Global Green Roof Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the global green roof market was US$ 7.1 Bn in 2018 and expected to progress with CAGR of 16.8% from 2019 to 2027, reaching US$ 28.7 Bn in 2027.
Government promotion for green roof, driving the market growth
Rooftops covered with grass, vegetable gardens, and lush foliage are now a common sight in many cities around the world. More and more private companies and city authorities are investing in green roofs, drawn to their wide-ranging benefits, which include savings on energy costs, mitigating the risk from floods, creating habitats for urban wildlife, tackling air pollution and urban heat, and even producing food.
An eco-friendly green roof primarily consists of a vegetation layer, which includes trees, plants, and shrubs. The major benefits of an eco-friendly green roof is reducing energy, greenhouse gas emissions, enhancing storm water management, and decreasing heat by regulating the temperature for the roof and the surrounding areas.
Furthermore, there is growing infrastructure development activities in China, India, and other ASEAN countries such as Singapore. In addition, these Asian countries showing tremendous growth in expansion of their manufacturing sector. Also, strong support from the government of these countries offering significant opportunity to manufacturers of eco-friendly green roofs. Companies across the globe are investing considerably in the eco-friendly green roof technology, due to stringent rules and regulation enacted by governments for reduction of greenhouse gasses.
Browse the full report at https://www.credenceresearch.com/report/green-roof-market
The overall green Roof market is competitive in nature and it is growing at moderate rate. The market players are adopting strategies such as launching innovative & new products, agreements, partnership & collaboration, and investment in R&D to stay competitive in the market.
• In September 2019, Sempergreen introduced a green roof for bus stops. The Dutch city of Wageningen has chosen to make the entire bus station more sustainable. The combination of green roofs with solar panels and a new LED screen ensures that the bus station is now fully self-sufficient.
Key Market Movements:
• Based on roof type, extensive segment captured the largest share in 2018. However, intensive green roof expected show good growth during the forecasted period.
• Based on end-user, commercial segment expected to show strong growth from 2019 to 2027.
• Based on region, Europe was the largest regional green roof market in 2018. On the other hand, North America expected to drive the market growth with the highest CAGR of 20.4% from 2019 to 2027.
List of Companies Covered:
• 3Green Roof Blocks
• Xero Flor
The Global Green Roof Market is Segmented into:
|Segmentation||Roof Type Segment (2017-2027; US$ Bn)|
|End-user Segment (2017-2027; US$ Bn)|
|Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page