15/11/10 – Green Outlook Report tracks dramatic growth and green building for next five years
15 November 2010
The U.S. green building market is accelerating at a dramatic rate, according to 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 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.
In nonresidential building the green building market share is even higher than the overall market. Today, a third of all new nonresidential construction is green, accounting for 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.
"It’s an amazing area of opportunity at time when the construction market is extremely challenged," said Harvey M. Bernstein, vice president, Global Thought Leadership and Business Development, McGraw-Hill Construction. "In today’s economy, firms that specialize in green or serve this market are seeing a tremendous advantage and they’re doing good at the same time. Green building leads to healthier places for us to live and work in, lower energy and water use, and better profitability."