Multifamily Housing Green Buildings Global Market Report 2021: COVID-19 Growth And Change To 2030

Multifamily Housing Green Buildings Global Market Report 2021: COVID-19 Growth And Change To 2030

  • September 2021 •
  • 175 pages •
  • Report ID: 6151547 •
  • Format: PDF
Major players in the multi-family housing green buildings market are Turner Construction Co., Clark group, AECOM, Swinerton, Hensel Phelps, Skansa, Lendlease, Holder Construction, Webcor, and Walsh group.

The global multi-family housing green buildings market is expected grow from $40.93 billion in 2020 to $42.71 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $55.54 billion in 2025 at a CAGR of 7%.

The multi-family housing green buildings market consists of sales of multi-family residential green buildings and related services for occupation or rentals by households. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact, throughout a building’s life-cycle from siting to design, construction, operation, maintenance, renovation, and deconstruction.

The multifamily housing green buildings market covered in this report is segmented by type into new constructions remodelling projects.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Higher costs hinder the buyer and the supplier to invest more in Multi-family residential green buildings.Green buildings cost higher than conventional homes and requires more initial investment.

High costs to construction firms would result in high costs to the buyers.As per a report of the National Association of Home Builders (NAHB), building green homes costs 5% to 10% more than traditional homes to the builders.

However, more than one-third of the remodelers reported costs higher than 10%.In addition to this, the majority of owners rent these homes and the renters enjoy the benefits of a green home for no additional premium.

This perception is further restraining the homeowners to expend more on green buildings.

In October 2018, Structure Tone Inc., a New York-based green construction company, has acquired Ajax Building Corporation for an undisclosed amount. The acquisition was aimed to help Structure tone expand construction services to a global base and this acquisition expands its reach into the southeast US. Ajax Building Corporation is a construction company that offers services to build design, construction management, and building information modelling.

Customers are more informed of the benefits and cost savings in the long run from sustainable and net-zero homes.Homebuyers are now well informed and are acknowledging the reference to healthier homes, quality construction, and high performance.

As per a report by The National Association of Home Builders’ (NAHB) authoritative, multi-family builders and remodelers said operating efficiency and long-term utility cost savings are the reason customers are convinced to invest in green construction of homes. Therefore, customer awareness on factors such as environmental impacts, sustainability, and long-term cost savings is driving the growth of the Multi-family residential green building market.

Consumers and Builders are targeting towards achieving more sustainable homes with a focus on minimizing carbon footprint by promoting self-sustainable homes, termed as Net-zero homes.A Net Zero home produces energy through various domestic renewable energy technologies such as solar panels, micro wind turbines, sinkholes, compost gas for its requirements.

It aims to produce at least as much energy as it consumes.Net zero home stock is projected to rise from 57,800 homes in 2019 to 534,500 homes in 2028.

Around 36% of multi-family home builders are building their homes green, 80% of them are dedicated green home builders with more than 90% of their projects green.The green builders are expected to grow to 47% by 2022 and are investing more in this segment.

These statistics show us an increasing trend of Net-zero homes in the Residential construction market.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.