ShareGreen building outlook strong for non-residential and residential sectors
Green was expected to represent 44% of all commercial and institutional construction in 2012, growing to 55% by 2016. Green home and renovation activity are expected to grow to 20% in 2012 and 38% by 2016
Green was expected to represent 44% of all commercial and institutional construction in 2012, growing to 55% by 2016. Green home and renovation activity are expected to grow to 20% in 2012 and 38% by 2016.
The US green building market continues to accelerate, according to McGraw-Hill Construction's 2013 Dodge Construction Green Outlook report. The value of green building grew from USD10 billion in 2005 to USD 78 billion in 2011. In 2012, the total market was expected to be worth USD 85 billion, and by 2013, overall new green building is projected to rise to between USD 98 billion and USD106 billion. By 2016, this number is expected to reach USD 204 billion to USD 248 billion.
Residential green construction is also on the rise. It is estimated that at the end of 2012, green homes comprised 20% of the market, and in 2013 a 22-25% share by value is expected, i.e. a USD 34-38 billion opportunity. By 2016, this share by value is expected to increase to 29-38% (USD 89-116 billion).
The office market had the largest share of green with 54% in 2012.
Key points of the report include: health-related green building labels are entering into force in construction specifications; one-third of all home builders in the USA expect to be fully dedicated to building green by 2016; green construction jobs are following the green building market; 81% of executive leaders in corporate America believe the public expects them to engage in sustainability and 30% of senior executive officers report that they are greening two-thirds of the buildings in their portfolio, with 47% expecting to achieve this by 2015.
A green building is defined as one built to LEED or an equivalent standard, or one that is energy- and water-efficient and also addresses improved indoor environmental quality and/or resource efficiency.
The US green building market continues to accelerate, according to McGraw-Hill Construction's 2013 Dodge Construction Green Outlook report. The value of green building grew from USD10 billion in 2005 to USD 78 billion in 2011. In 2012, the total market was expected to be worth USD 85 billion, and by 2013, overall new green building is projected to rise to between USD 98 billion and USD106 billion. By 2016, this number is expected to reach USD 204 billion to USD 248 billion.
Residential green construction is also on the rise. It is estimated that at the end of 2012, green homes comprised 20% of the market, and in 2013 a 22-25% share by value is expected, i.e. a USD 34-38 billion opportunity. By 2016, this share by value is expected to increase to 29-38% (USD 89-116 billion).
The office market had the largest share of green with 54% in 2012.
Key points of the report include: health-related green building labels are entering into force in construction specifications; one-third of all home builders in the USA expect to be fully dedicated to building green by 2016; green construction jobs are following the green building market; 81% of executive leaders in corporate America believe the public expects them to engage in sustainability and 30% of senior executive officers report that they are greening two-thirds of the buildings in their portfolio, with 47% expecting to achieve this by 2015.
A green building is defined as one built to LEED or an equivalent standard, or one that is energy- and water-efficient and also addresses improved indoor environmental quality and/or resource efficiency.