Yahoo Finance Green Roof Market is Expected to Grow at a CAGR of 16.20%, Reaching a Valuation of US$ 5.37 Billion from 2022-2030, Contrive Datum Insights
According to a market research study published by Contrive Datum Insights, Europe held the largest Green Roof Market share, is anticipated to expand at a CAGR of 15.72% over the next five years
Farmington, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The Green Roof Market size was valued at USD 1.41 Billion in 2022 and is projected to reach USD 5.37 Billion by 2030, growing at a CAGR of 16.20% from 2023 to 2030. Sometimes green roofs are called grass roofs, living roofs, or sedum roofs. It is an extension of a building's existing roof that is partially or entirely covered with plants and a growing medium atop a waterproofing membrane. It requires a minimum of high-quality waterproofing and additional layers, such as a root-repelling system, drainage and irrigation system, filter cloth, lightweight growing medium, and plants.
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Green roof systems may be constructed in a modular fashion, with drainage layers, growing media, filter fabric, and plants already arranged in mobile, frequently overlapping grids. They can also be constructed in a loose-laid or built-up manner, where each component is fitted individually. It includes placing a "enclosed" green space on top of human-made structures. Additionally, this green space could be below, at, or above grade, but it would always be distinct from the ground. It can be installed on a variety of structures, from businesses and industries to residential residences.
Green Roof Market Recent Developments:
In March 2020, Green Roof Blocks manufactures roof garden modules and paks providing simple solutions for green roof systems. The Green Paks green roof system brings simplicity to green buildings for less money than other garden capes products. Each Green Pak is a completely self-contained module made of long-lasting, unique knitted high-density polyethylene.
In August 2019, Keene Family of Companies announces an addition to its portfolio. Barrett Company has been acquired and will join the Keene Family of Companies: Keene Building Products, Dependable, LLC, Continental Products, Ltd, and Keene Village Plastics. Barrett was founded in 1928 by Emmett R. Barrett, Sr., and his father Noah Barrett.
Green Roof Market Segmentation Analysis:
By 2027, extensive type is anticipated to account for more than fifty percent of the market. Because it is simple to build large green roof systems and more people are concerned about the environment, this market sector is projected to expand. The depth of the soil in these systems ranges between 1.6 and 6 inches. A huge green roof is typically utilized on residences, barns, and garages. The product is simple to instal and is frequently added to existing roofs. Sedums and grasses with shallow roots and minimal water requirements are the most typical plants employed.
In 2019, commercial applications represented the largest segment of the green roofs market, and they are anticipated to increase at the highest rate over the next five years, at a CAGR of 17.6%. Living roofs mitigate the negative effects of urban hardscape by restoring a natural landscape without requiring significant alterations to the city's infrastructure. One of the most frequent applications of living roofs is in the commercial sector. This consists of commercial centres and complexes, schools, offices, and government structures. Most intense green roof systems are utilised in commercial buildings.
Regional Outlook:
Based on a review of geographical trends, the Global Green Roof Market is segmented into North America, Europe, Asia-Pacific, and the rest of the globe. Europe held the largest market share in 2019 and is anticipated to expand at a CAGR of 15.72 percent over the next five years. In recent years, climate change and extreme weather have made it plain to European policymakers that they must make adjustments and devise a clear plan of action to prevent at least some of the consequences of reckless human behaviour. The European Commission has initiated a plan known as the Green Infrastructure Strategy to address such issues.
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Scope of Report:
Report Attributes | Details |
Growth Rate | 16.20% from 2023 to 2030 |
Market Size in 2022 | USD 1.41 Billion |
Revenue Forecast by 2030 | USD 5.37 Billion |
By Type | Extensive, Intensive |
By Applications | Residential, Commercial, Industria |
By Companies | Axter Limited, Bauder Ltd, Green Roof Blocks, Optigrun International AG, Sempergreen Group, American Hydrotech Inc, Barrett Company, ArchiGreen Roof Ltd, Onduline Group SASand, XeroFlor North America, and Others |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 to 2030 |
Green Roof Market Dynamics:
The market for green roofs is expanding as more people learn about the systems and how they may be utilised in various settings. In residential areas, green roofing materials are extremely popular, and governments around the world offer tax incentives to private enterprises that use them. Existing and new city buildings are undergoing extensive roof repairs, and new regulations for the installation of solar photovoltaic systems and living roof systems are being implemented. The fact that green roofs would lower the rate of global warming is anticipated to drive the market for green roofs. The green-roof concept is growing in popularity and usage around the world because it helps reduce roof temperatures, which in turn reduces the ambient temperature. This is accomplished by increasing the number of plants on rooftops, which assist absorb the sun's rays and lessen the impact of the urban heat island.
The industry is expanding due to factors such as increased housing construction and urban migration in developing nations. From 2018 to 2019, India's population increased by 0.98 percent. The fact that educated and qualified individuals who can construct green roofs competently can find employment in the industry also contributes to the market's expansion. However, a green roof will be more expensive to instal than a conventional flat roof since the structure below it may need to be reinforced to support the additional weight. When a green roof is utilised in place of a conventional roof, the capital expenditures increase by two to three times. Due to their high initial price, green roofs are not utilised as frequently as they should be.
Green Roof Market Key Segments Covered:
Top Market Players:
Axter Limited, Bauder Ltd, Green Roof Blocks, Optigrun International AG, Sempergreen Group, American Hydrotech Inc, Barrett Company, ArchiGreen Roof Ltd, Onduline Group SASand, XeroFlor North America, and Others.
By Product Type
Extensive
Intensive
By Application
Residential
Commercial
Industria
Regions and Countries Covered
North America: (US, Canada, Mexico, Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
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