PUBLISHER: The Business Research Company | PRODUCT CODE: 1387950
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387950
“Multifamily Housing Green Buildings Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on multifamily housing green buildings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for multifamily housing green buildings? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The multifamily housing green buildings market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Multi-family residential green building involves the construction, renovation, repair, improvement, or demolition of multi-family housing structures designed to be environmentally sustainable, with a focus on detailed design and planning.
The primary categories of multi-family housing green buildings are new construction and remodeling. Remodeling entails modifying or altering the structure, style, or shape of existing multi-family housing. Various product types used in these projects include interior and exterior products. Additionally, multi-family residential green building projects can be classified into two main construction approaches such as full-green construction and semi-green construction, based on the extent of sustainability measures and practices implemented.
The multifamily housing green buildings market research report is one of a series of new reports from The Business Research Company that provides multifamily housing green buildings market statistics, including multifamily housing green buildings industry global market size, regional shares, competitors with a multifamily housing green buildings market share, detailed multifamily housing green buildings market segments, market trends and opportunities, and any further data you may need to thrive in the multifamily housing green buildings industry. This multifamily housing green buildings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The multifamily housing green buildings market size has grown rapidly in recent years. It will grow from $139.89 billion in 2023 to $167.67 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth during the historical period can be ascribed to factors such as heightened environmental consciousness, cost-effective practices, tenant-driven demand, and the attainment of building certifications.
The multifamily housing green buildings market size is expected to see rapid growth in the next few years. It will grow to $347.08 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The anticipated expansion in the forecast period can be credited to sustainability and climate change considerations, the adoption of smart building technologies, the proliferation of net zero buildings, and the integration of digital technologies. Prominent trends in the forecast period encompass the incorporation of renewable energy sources, the utilization of smart building technology, the adoption of sustainable materials, and the implementation of eco-friendly landscaping practices.
Informed customers increasingly recognize the advantages and long-term cost savings associated with sustainable and net-zero homes. Homebuyers are becoming more knowledgeable, emphasizing the benefits of healthier living spaces, superior construction quality, and enhanced performance in homes. Notably, a report by the National Association of Home Builders (NAHB) highlights that multi-family builders and remodelers cite operational efficiency and long-term utility savings as key drivers convincing customers to invest in environmentally friendly home construction. The rising customer awareness surrounding environmental impacts, sustainability, and long-term cost savings stands as a driving force behind the expansion of the multifamily housing green buildings market.
Anticipated growth in the multi-family residential green building market is propelled by increased investments in energy efficiency. Emphasizing reduced energy waste, energy efficiency strategies in multi-family residential green buildings involve sustainable construction techniques and materials that aim to curtail energy consumption within shared living spaces. A report by the International Energy Agency in 2021 underscores a notable surge in global investments in energy efficiency, soaring by 10% to almost USD 300 billion, particularly directed towards the building industry and transport sector. This surge in energy efficiency investments significantly drives the growth of the multi-family residential green building market.
The escalation in costs poses a challenge for both buyers and suppliers in their pursuit of investing further in the multifamily housing green buildings market. Green buildings, in contrast to conventional properties, entail higher construction expenses and necessitate more substantial initial investments. As reported by Smart CRE in May 2022, the average construction cost for a green building is approximately 2% higher than traditional properties. Notably, since most owners offer these homes for rent, renters often benefit from the advantages of a green home without paying an additional premium. This perception restrains homeowners from further investing in green buildings due to the cost differential, posing a constraint on the market's growth.
Consumers and builders are collaborating to spearhead the development of more sustainable residences, placing a strong emphasis on reducing carbon footprints by promoting the creation of self-sustaining homes, famously known as Net-zero homes. These homes aim to generate their energy using diverse domestic renewable energy technologies like solar panels, micro wind turbines, sinkholes, and compost gas, striving to produce an equal or greater amount of energy than they consume. Forecasts project a substantial surge in the Net-zero home stock, expected to rise from 57,800 homes in 2019 to an estimated 534,500 homes by 2028. Remarkably, around 36% of multi-family home builders are engaged in constructing green homes, with 80% categorized as dedicated green home builders, pursuing over 90% of their projects in the green home domain. An anticipated growth to 47% by 2022 reflects an upward trajectory in green building practices, showcasing a rising trend of net-zero homes within the residential construction market.
Key industry players within the multifamily housing green buildings market are introducing groundbreaking eco-friendly green cement alternatives such as ECOPlanet to address the growing demand for sustainability in construction. ECOPlanet represents a revolutionary line of green cement solutions committed to reducing carbon footprints by at least 30%. For instance, in July 2021, Holcim, a Switzerland-based building material company, introduced Ecoplanet, a green building solution that adheres to the world's most stringent sustainable building standards, including certifications like BREEAM (Building Research Establishment Environmental Assessment Method) and LEED (Leadership in Energy and Environmental Design). This innovative product follows the success of ECOPact, Holcim's comprehensive range of green concrete, already making a substantial impact across more than twenty global markets. The introduction of ECOPlanet signifies a pivotal step forward in the pursuit of sustainable and eco-conscious construction practices.
Major companies operating in the multifamily housing green buildings market include Turner Construction Co, Clark Group, AECOM, Swinerton, Hensel Phelps, Skanska, Lendlease, Holder Construction, Webcor, Walsh Group, Gilbane Building Co, Structure Tone, Whiting-Turner Contracting Co., Clayco, DPR Construction, PCL Construction Enterprises, Suffolk, Austin Industries, McCarthy Holdings, BL Harbert International, James G. Davis Construction, Hoffman Construction, Brasfield & Gorrie, David E. Harvey Builders, The Balfour Beatty US, Hathaway Dinwiddie Construction, Mortenson Construction, Sundt Construction, HITT Contracting, Power Construction, Gensler, Stantec, HOK, JE Dunn Construction, Suffolk Construction, The Whiting-Turner Contracting Co., McCarthy Building Companies Inc., Ryan Companies US Inc., The Beck Group, The Weitz Company, The Boldt Company, The Opus Group, The Korte Company
Asia-Pacific was the largest region in the multifamily housing green buildings market in 2023. Eastern Europe is expected to be the fastest-growing region in the multifamily housing green buildings market during the forecast period. The regions covered in the multifamily housing green buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the multifamily housing green buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The multifamily housing green buildings market includes revenues earned by entities by constructing or remodeling and renovating multifamily green buildings. This market includes the sales of residential housing general contractors (that is new construction, remodeling, or renovating existing residential structures), for-sale builders and remodelers of residential structures, residential project construction management firms, and residential design-build firms. The multifamily housing green building construction work performed includes new work, additions, alterations, maintenance, and repairs. A green building is an environment-sustainable building that is designed, constructed, and operated to minimize environmental impacts. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.