Key Market Insights
"Government promoting green roof for lowering global warming"
The popularity and implementation of the green-roof concept is gaining traction around the globe as it helps in lowering the temperature on roofs, thereby decreasing the ambient temperature. This is achieved by growing plants on rooftops that help absorb the radiation from the sun and reduce the urban heat island effect. It has not only helping to reduce room temperature but the consumption of electricity is also lowering in the metros. This, in turn, helping to slow the climate change process. As a result, various governments are introducing supportive policies such as subsidy, financial aid, and special investment summits to encourage the adoption of green roofs. Thus, the reduction in global warming due to green roofs is expected to drive market growth during the forecast period.
The rising construction of industrial, commercial as well as residential buildings is expected to increase the environmental heat, which in turn is expected to fuel the growth of green roof market. With the growing economic development and rising population, people are migrating towards cities. This has impacted the increasing construction of residential and commercial spaces across every region of the world. More buildings have negatively impacted the environment by reducing green cover and deforestation. To counter such a situation, many governments are adopting .green roof concepts that are a sustainable and eco-friendly way.
Roof Type Segment Analysis
"Extensive segment dominating the market"
Based on roof type, the global green roof market is segmented into extensive and intensive roofs. The extensive roof segment captured the largest market share in 2021. Factors such as low maintenance cost are driving the market growth. Moreover, the low capital costs per meter square and minimal irrigation and the nutrient requirement are likely to drive the product demand further. These roofs are used mainly in single residential buildings as they don’t need a pre-defined roof designed for gardening.
The intensive product segment is estimated to witness the fastest CAGR during the forecast period. Heavyweight and high maintenance and installation cost associated with intensive roof tends to make up a smaller market share of the segment in 2021. However, increasing the adoption of these products from commercial and industrial applications is expected to increase the market share in the near future. These roofs include grasses, shrubs, and even trees due to the high depth of planting.
Regional Analysis
"Europe dominating the global market by region"
Europe was the dominant regional market in 2021 accounting for a major share in the global market. During the forecast period, the region expected to maintain its leading position. Government policies and subsidiaries by the regional government are encouraging the adoption rate of more number of houses and commercial buildings. Countries like Germany and Switzerland have mandated the inclusion of green roofs on all flat roofs that are larger than 330 square feet of area. The green roof laws are backed by scientific evidence and are gaining momentum.
North America is estimated to be the fastest-growing region with a CAGR of 20.4% over the forecasted period. The Canadian city, Toronto was the first city in North America inked a law to have a green roof. This has influenced the demand for a green roof in the region. Under the Eco-Roof Incentive program, building owners receive $100 for every square meter of a green roof. Under this scheme, 420 new green roof permits were granted.
"Growing partnerships is keeping the market competitive"
The global green roof market is competitive. Prominent players operating in the green roof market are adopting strategies such as a partnership with other companies, acquisition of smaller players to increase their production capacity and geographical reach. Following is the list of players included in the published reports.
List of Companies Covered:
Key Industry Development:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Green Roof market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Roof Type
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End-user
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
