Installing green roof systems is anticipated to provide lucrative opportunities for the growth.
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WILMINGTON, DELAWARE, UNITED STATES, March 22, 2024 /EINPresswire.com/ — The growth of the global green roof market is fueled by increasing awareness of green roof systems, the amplification of the greenhouse effect, and expansion in the residential construction sector. Despite this, the provision of tax benefits by governments to private industries for green roof installation is expected to offer enticing prospects for market players in the near future.
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.
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In terms of application, the commercial segment held the largest market share in 2019, contributing to approximately two-thirds of the global green roof market. Conversely, the industrial segment is predicted to demonstrate the highest compound annual growth rate (CAGR) of 17.1% during the forecast period.
Geographically, the market is analyzed across various regions including Asia-Pacific, Europe, LAMEA, and North America. The Asia-Pacific region is forecasted to exhibit the fastest CAGR of 18.3% during the forecast period. Conversely, Europe dominated the global green roof market in 2019, accounting for nearly two-fifths of the total market revenue.
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The report analyzes the market based on type, distribution channel, application, and region.
Depending on type, the market is bifurcated into extensive green roof and intensive green roof. The extensive segment generated the highest revenue in 2019.
Based on distribution channel, it is classifies into online and offline. The offline segment generated the highest revenue in 2019.
On the basis of application, the green roofs market is divided into residential, commercial, and industrial. The commercial segment generated the highest revenue in 2019.
Regional Analysis:
Region-wise, the global green roof market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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Top Runners:
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.
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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David Correa
Allied Market Research
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