Sources: Dodge Data & Analytics, New York; CP staff
A new report based on surveys of 2,000-plus architects, engineers, contractors, owners, consultants and real estate investors from 86 countries indicates significant international market growth for green construction projects in the last 10 years and demand for such building activity continuing to climb. Dodge Data & Analytics’ World Green Building Trends 2018 SmartMarket Report finds that green building principles will factor into more than 60 percent of survey participant projects by 2021.
“We’ve seen the shift toward more efficient, sustainable buildings,” says Chris Nelson, president, Commercial HVAC for Carrier Corp., the premier sponsor of research behind the SmartMarket study. “Green buildings [deliver] measurable benefits for owners, occupants and the public from reduced operating costs, improved indoor air quality and reduced energy consumption. The trends uncovered in this report reflect what we’re seeing in our business—building green is good for the public health, environment, and bottom line.”
“Enthusiasm for green building is clear in all major markets measured, and that is driven by the business benefits they receive, which have stayed consistent since 2012,” adds Dodge Industry Insights Research Director Donna Laquidara-Carr, Ph.D., LEED AP. “These benefits include eight percent operating cost savings in the first year and increased asset values of seven percent for new green buildings.”
The SmartMarket Report aims to analyze the level of green activity; impact of green building practices on business operations; plus, triggers most likely to spur further green market growth and challenges that may impede it. Among the latter, Dodge researchers find the perception that green building methods cost more than traditional construction has declined dramatically, from over three quarters of 2012 survey respondents to under half this year.
Dodge Data & Analytics undertook research in partnership with Carrier and support from the American Institute of Architects, Autodesk, U.S. Green Building Council and World Green Building Council. The World Green Building Trends 2018 SmartMarket Report is posted here.