Greentech Lead U.S: The U.S. green building market is
expected to be worth $85 billion, and by 2013, overall new green building
is projected to rise to between $98 billion and $106 billion, according to
McGraw-Hill Construction’s 2013 Dodge Construction Green
Outlook report.
The value of green building has seen growth from $10
billion in 2005 to $78 billion in 2011. In 2012, the total
market — non-residential and residential — is expected to be worth $85
billion, and by 2013, overall new green building is projected to rise to
between $98 billion and $106 billion. By 2016, this number is expected to
reach $204 billion to $248 billion.
According to the report, Green building remains a bright
spot in a still uncertain economy. Green is expected to represent 44 percent of
all commercial and institutional construction in 2012, growing up to 55 percent
by 2016. Residential green construction is also on the rise.
It is expected that by the end of 2012, green homes will
comprise 20 percent of the market, and in 2013 a 22-25 percent share by value
is expected, equating to a $34-$38 billion opportunity. By
2016, this share by value is expected to increase to 29-38 percent – an
estimated$89-$116 billion- based on the current single-family residential
construction forecast.
Segment wise, while education construction is down, green
has remained a stronghold at 45 percent, continuing to be the largest
opportunity for green building. The office market has the largest share of
green with 54 percent in 2012, a bright spot considering the overall expected
growth of the sector in the near term.
The growth in green building means not only a strong
outlook for green building, but also the benefits that go along with that: more
jobs, greater financial benefits from green and high performance buildings,
stronger competitive positioning for those firms that build green, and
healthier work and learning environments for our population.
Health-related green building labels are taking
force in construction specifications, growing more rapidly than any other
aspect of green. One third of all home builders in the U.S. expect to be fully
dedicated to building green by 2016.
Further the green construction jobs are following the
green building market; 35 percent have green jobs today. 81 percent of
executive leaders in corporate America believe the public expects them to
engage in sustainability – one of the key forces driving corporations to
institutionalize some green efforts. 30 percent of senior executive officers
report that they are greening two-thirds of the buildings in their portfolio –
with 47 percent expecting to do so by 2015.