The global green roof market size is expected to reach USD 4.2 billion by 2027 registering a CAGR of 17% over the forecast period, according to anew report by Grand View Research Inc. Rising awareness about green roofs and their benefits, such as climate moderation, thermal cooling, and reduced storm water runoff, will drive the growth of this market.
Governments across the globe are implementing policies to encourage the adoption of green roof systems. In addition, many governments are offering financial incentives for the installation of these systems in an attempt to improve energy efficiency in both commercial and institutional buildings.
According to the European Federation of Green Roof and Green Wall Associations (EFB), the green roof area in London reached 1,507,934 square meters in 2017, which accounts for nearly 38.58% of annual increase.Key companies are increasingly investing in R&D to introduce low-maintenance green roof systems thereby minimizing the overall costs.
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Extensive roof type segment is expected to register the fastest CAGR of 16.9% from 2020 to 2027 owing to easy installation of these systems along with rising environmental concerns
In 2019, commercial applications led the global market with a share of more than 62%. The segment is projected to expand further at the fastest CAGR from 2020 to 2027
The growth of the commercial application segment can be attributed to the rising demand for green roofs in malls and office spaces
Europe is projected to account for the maximum share of the global market by 2027 on account of rising financial subsidies offered by the governments across several countries in the region
Asia Pacific is expected to register a notable growth over the forecast period on account of rapid industrialization coupled with increasing regulations pertaining to maintaining environment quality
Grand View Research has segmented the global green roof market on the basis of type, application, and region:
Green Roof Type Outlook (Revenue, USD Million, 2016 - 2027)
Green Roof Application Outlook (Revenue, USD Million, 2016 - 2027)
Green Roof Regional Outlook (Revenue, USD Million, 2016 - 2027)
Central & South America (CSA)
Middle East & Africa (MEA)
List of Key Players of Green Roof Market
Optigreen International AG
Green Roof Blocks
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