PUBLISHER: Allied Market Research | PRODUCT CODE: 1365847
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365847
According to a new report published by Allied Market Research, titled, "Green Facade Market," The green facade market was valued at $662.2 million in 2020, and is estimated to reach $1485 million by 2032, growing at a CAGR of 7.2% from 2023 to 2032.
A structure that is completely or mainly covered in plant material is known as a green facade. A scaffolding system is used in green facades with climbing plants to support the vines of plants that are rooted in the ground or containers. Urban environments benefit from green facades in terms of economy, environment, aesthetics, and physiology.
Growth in population and rise in disposable income of people facilitate a shift towards urban settlements. In addition, urban areas provide a chance to raise the level of living and quality of life for the general population. Growth in service and manufacturing industries is also a part of the rapid urbanization of the town. Globally, rapid urbanization is also being fueled by the growing population, and expanding government programs to construct urban settlements. The building and construction industry, which provides sectors for residential, commercial, industrial, and governmental activities, is in the lead of expanding urbanization. The building and construction sector is increasingly inclined toward using sustainable and environmentally friendly solutions in its products due to increasing concerns about air pollution, high temperatures, and noise pollution. Due to their effectiveness in lowering air pollution, managing noise, insulating against heat loss, and making adaptations, green facades are very popular. Owing to their great sustainability, green facades are becoming more and more well-liked globally. Therefore, the global market for green facades is expected to benefit from rise in urbanization.
In addition, vegetation on green facades is supplied with nutrients by the soil and water system underneath them. To keep them alive, it is necessary to ensure a steady supply of water and soil, as well as enough sunlight and nutritious food. Any spills carried on by a leak or by improper maintenance may damage the interior areas, compromise the structural integrity of the walls, and harm the plants. In addition, if the vegetation is not frequently inspected, insects may be drawn to it, which could be harmful to users. Regular conditioning, trimming, and other care are necessary to keep the vegetation under control and aesthetically acceptable to the audience. As a result, maintaining green facades needs a lot of money, time, effort, and specialized labor, all of which hinder the market expansion.
However, governments globally are being encouraged to adopt eco-friendly and sustainable policies, due to rising concerns about climate change. High temperatures brought on by climate change have already made millions of people vulnerable to heat exhaustion and severe heatstroke. The use of air conditioning to reduce temperatures is expensive and wasteful. To moderate temperatures, the government is therefore promoting facades made of greenery as a viable and efficient alternative. With their vegetation, green walls can provide cleaner air, lessen noise pollution, and provide thermal insulation. Green walls are promoted in residential, commercial, and industrial areas by advantageous rules, rewards, and moral persuasion. Therefore, advantageous government initiatives are expected to create lucrative global market prospects for green facades during the forecast period.
The green facades market is segmented into type, vegetation type, application, and region. By type, the market is categorized into ground based and wall structure based. The wall structure based segment dominated the market in 2020. By vegetation type, the market is segmented into divided into flower, shrubs, and other. The flower segment dominated the market in 2020. By application, it is classified into residential and commercial. The commercial segment dominated the market in 2020.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
In 2022, LAMEA was the key shareholder, and is anticipated to secure a leading position during the forecast period.
COMPETITION ANALYSIS
Key companies profiled in the green facades market report include, ELT India, Biotecture Ltd., Lang+Fulton, ANS Group Global Ltd., Green Roof Technology, GSky Plant System Inc., Green Fortune, LiveWall, LLC, Green Over gGrey, and Naava.
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