The U.S. green building market is accelerating at a dramatic rate, potentially tripling over the next five years, according to “Green Outlook 2009: Trends Driving Change”
Source: McGraw-Hill Construction, New York
The U.S. green building market is accelerating at a dramatic rate, potentially tripling over the next five years, according to Green Outlook 2009: Trends Driving Change. Released by McGraw-Hill Construction at the Greenbuild International Conference & Expo in Boston, the report confirms a fivefold climb in the value of green building construction starts from 2005 to 2008 ($10 billion to $36 billionÒ$49 billion), and cites prospects for the market reaching the $96 billion to $140 billion range in five years. Green Outlook 2009 provides the first comprehensive insight into the future of this fast-growing segment of the construction industry, based on figures from McGraw-Hill Construction’s F.W. Dodge data, construction industry surveys, and data analysis, plus LEED certification and government regulation factors. Green building growth is phenomenal across the globe, and industry players recognize the business opportunities, even in the midst of economic crisis, says McGraw-Hill Construction’s Harvey Bernstein, vice president of Industry Analytics, Alliances and Strategic Initiatives. Our community can help solve the economic crisis while building a new energy economy by putting the greening of existing buildings at the top of our agenda, adds Rick Fedrizzi, chief executive officer of the U.S. Green Building Council, Greenbuild organizer. McGraw-Hill Construction attributes rapid market expansion to growing public awareness, an increase in government regulations, and recognition of bottom-line advantages. Since 2005, the perceived benefits of green building have increased and differentiated as people become more knowledgeable about green building. The decrease in buildingsÌ operating costs is the most often cited benefit (13.6 percent, up from 8Ò9 percent in 2005), followed by the increase in building values (10.9 percent, up from 7.5 percent in 2005). More information and specific green building projects can be found in the Green Outlook 2009 Report, copies of which can be ordered through http://construction.com/market_research/default.asp