Green Buildings to Expand a $277 Billion Market
By admin May 12, 2010 7:15 am IST
Green Buildings to Expand a $277 Billion Market
Rising energy costs and bottom-line economics provide energy-saving building technologies with a solid foundation for growth, says Lux Research.
Buildings consume more energy and materials than any other human activity – a reality that, for decades, has fueled interest in any improvements able to save energy and reduce costs. As energy prices continue to rise and resources dwindle, interest in green buildings has sparked a growing industry. According to a new report from Lux Research, the market for energy saving green buildings technologies will expand from $144 billion today to $277 billion in 2020, representing a 6.1% compound annual growth rate (CAGR).
Titled “Diamonds in the Rough: Uncovering Opportunities in the $277 Billion Green Buildings Market,” the report helps investors, suppliers, and commercial property owners gain a clearer grasp of current and emerging technologies, including those that offer the biggest growth opportunities. The report also marks the launch of the Lux Green Buildings Intelligence Service, which will provide clients with ongoing research on market and technology trends in green building technologies.
“The developed world’s 728 billion square feet of residential, commercial, and government floor space account for nearly 40% of its primary energy use, and consume 72% of its electricity,” said Michael LoCascio, a Senior Analyst at Lux Research. “But while there’s increasing interest in cost-saving green building technologies, the market remains poorly defined.”
Rather than take the conventional approach of measuring the market based on property values, Lux Research instead analyzed the revenue and growth potential of the market’s enabling technologies. It defines “green building technologies” as any service, equipment, or material that improves the energy efficiency or reduces net material consumption of a building over and above that of the standard used at the time of original construction.
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