According to a new report published by Allied Market Research, titled, The global green roof market size accounted for $1.45 billion in 2019, and is expected to reach $4.19 billion by 2027, registering a CAGR of 15.6% from 2020 to 2027.
Green Roof Market Growth Factors
The escalating greenhouse effect and global warming are key drivers of the green roof market expansion. Rising disposable incomes and improved living standards in various developing economies are expected to further boost the adoption of green roofs. Additionally, government regulations mandating green roofing for commercial buildings are fueling market growth. For example, in April 2018, France introduced a mandate requiring all new commercial structures to incorporate green roofs, creating significant opportunities for market expansion.
Furthermore, countries like the Netherlands, Belgium, and Russia are exploring green roof installations for residential buildings. For instance, in March 2020, Rotterdam Zuid, a commercial complex in the Netherlands, implemented green roof systems covering approximately 7,600 square meters. The growing use of green roofs in hospitals and commercial projects also contributes to market growth. A notable example is the Despair Supermarket in Bologna, Italy, which, in April 2018, installed 3,200 square meters of green roofing, requiring 11,040 green roofing components. Such initiatives are anticipated to propel the green roof market forward.
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Market Dynamics:
A green roof consists of a layer of vegetation planted over a waterproofing system on a flat or slightly sloped roof, serving as an effective solution to reduce excessive heat during summer days. Green roofs are categorized into two types: extensive and intensive. They are utilized across residential, commercial, and industrial sectors. Growing awareness of green roofing systems among various end users, including residential and industrial segments, is a key driver of market growth.
The rise in residential construction and rapid urbanization in developing nations significantly contribute to market expansion. For example, India’s urbanization rate increased by 0.98% between 2018 and 2019. Additionally, the availability of employment opportunities for skilled and educated professionals capable of efficiently producing green roofs further propels market growth.
Green Roof Market Segmentation
By Outlook
Extensive
Intensive
By Distribution Channel
Online
Offline
By Application
Residential
Commercial
Industrial
By Region
North America (U.S., Canada, Mexico)
Europe (UK, Germany, France, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
Key Players:
The key players profiled in the global green roof market report include Axter Limited, Bauder Ltd, Green Roof Blocks, Optigrun International AG, Sempergreen Group, American Hydrotech Inc, Barrett Company, ArchiGreen Roof Ltd, Onduline Group SAS, and XeroFlor North America.
Major players in the green roof market adopted product launch, partnership, and acquisition as their key developmental strategies to expand their service portfolio. For instance, in August 2019, Barrett Company was acquired by Keen Family of Companies based in the U.S. The acquisition aimed to improve the portfolio of green roof and roofing system in the U.S.
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Key Findings Of The Study
- By type, the extensive segment dominated the global green roof market in 2019.
- Based on distribution channel, the offline segment is projected to generate high revenue globally.
- Depending on application, the commercial segment garnered a major share of the market in 2019.
- Region wise, Europe dominated the market in 2019.
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