Nonresidential Green Buildings Market Report 2020-2023: COVID-19 Impact Analysis

Strategic Insights -

The global nonresidential green buildings market is expected to decline from $85.1 billion in 2019 to $79.05 billion in 2020, primarily due to the COVID-19 pandemic and resulting economic slowdown. However, the market is anticipated to recover and reach $103.08 billion by 2023, driven by increasing adoption of sustainable building practices and green technology. Living roofs or green roofs, which provide insulation, reduce energy costs, and increase wildlife habitat, are gaining popularity in green buildings.

Key Takeaways:

  • The global nonresidential green buildings market is expected to decline by 7.1% in 2020 due to the COVID-19 outbreak and subsequent economic measures.
  • The market is projected to recover and reach $103.08 billion by 2023, growing at a compound annual growth rate (CAGR) of 9.3%.
  • Living roofs or green roofs are increasingly being implemented in green buildings, offering benefits such as natural insulation, reduced storm water runoff, and increased wildlife habitat.
  • The criteria for green building constructions are expected to change in response to the pandemic, with a focus on preparedness and prevention.
  • [Names of major players in the market, such as Turner Corp., Clark Construction, Aecom, Swinerton, and Hensel Phelps, and their financial performances as listed in Tables 45-49.]

Statistics:

  • Global nonresidential green buildings market size: $85.1 billion (2019)
  • Projected market size for 2020: $79.05 billion
  • Projected market size for 2023: $103.08 billion
  • CAGR for 2020-2023: 9.3%
  • Expected growth rate for living roofs or green roofs adoption: 8% of new roofing installations
  • Anticipated reduction in city ambient temperature with greener roofing: 2%

Sources:

  • The Business Research Company, "Nonresidential Green Buildings Global Market Report 2020" (2020)
  • Table 1: Global Historic Market Growth, 2015-2019 ($ Billion)
  • Table 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F ($ Billion)
  • Table 45: Turner Corp. Financial Performance
  • Table 46: Clark Construction Financial Performance
  • Table 47: Aecom Financial Performance
  • Table 48: Swinerton Financial Performance
  • Table 49: Hensel Phelps Financial Performance