Sunday, November 14, 2010

Green Building Market Grows 50% in Two Years

While good news it's also a mixed message in a collapsed construction industry. With investments there should be much more going on, not just in new construction under a green banner but upgrades to green. Especially in commercial and industrial existing as well as residential. To not only bring about a cleaner world for the generations to come but to save capital while creating jobs on the front end and long term jobs with the people needed to create quality products for business growth and consumer satisfaction and in many cases safety and more.

Despite Recession, Says McGraw-Hill Construction Report

Nov. 12, 2010 - The U.S. green building market is accelerating at a dramatic rate, says McGraw-Hill Construction's Green Outlook 2011: Green Trends Driving Growth report. The value of green building construction starts was up 50% from 2008 to 2010 — from $42 billion to $55 billion-$71 billion — and represents 25% of all new construction activity in 2010. According to projections, the green building market size is expected to reach $135 billion by 2015.

Green building is the bright spot in an otherwise tough economy, and in some sectors, that rate of growth has been remarkable. In nonresidential building, for example, the green building market share is even higher than the overall market. Today, a third of all new nonresidential construction is green — a $54 billion market opportunity. In five years, nonresidential green building activity is expected to triple, representing $120 billion to $145 billion in new construction (40%-48% of the nonresidential market) and $14 billion to $18 billion in major retrofit and renovation projects.

To break it down further, health care construction this year is expected to grow its green share to as much as 40% (valued at $8 billion-$9 billion in 2010) — phenomenal growth in just two years. Education (valued at $13 billion–$16 billion in 2010) and office green construction (valued at $7 billion–$8 billion in 2010) also remain strong sectors, showing high increases in market share, due in part to the fact that bigger projects are the most likely to "go green." This year, the U.S. Green Building Council's LEED specification is mentioned in 71% of all projects valued at over $50 million. {read rest}

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