With 2017 becoming smaller in the rearview mirror, the new year brings with it considerable promise and expectations to the fields of sustainable and green construction.
Both residential and commercial high-performance structures are expected to dominate the building industry as developers realize their long-term price and potential owners and occupants demand such advancements.
Numerous recent reports point to greater emphasis on sustainability during 2018 and beyond. Here is a look at what some of the research shows.
Greening green market
As green houses and buildings become commonplace, the green building market is expected to grow at a rate of 17 percent annually through 2022. Within four decades, the collective value of this global green building marketplace is anticipated to exceed a valuation of $245 billion, up from $158 in 2015.
Contributing to the growth is raising consumer awareness regarding energy efficiency and authorities supportive policies, based on Market Research Future. Increased demand has been spurred in part by reduced maintenance costs, operating costs and water demands of high performance structures.
Research also points to successful policies of the authorities for energy efficiency for having fueled the development of the marketplace which has been further reinstated by business advisors alike.
As green houses and buildings go up in a quick pace, the green building market is more often with producers to produce materials and products that reduce a structure total energy use and to produce a more sustainable building industry.
The new and current businesses are expected to invest more in research and development in the coming years to bring about additional products and substance that contribute further to energy savings within construction management, Market Research Future found.
Meanwhile, the green building industry will continue to see greater implementation of energy management systems to track the use of buildings to ensure optimal energy savings. And the international acceptance of solar energy has driven, and will continue to push, down prices for solar technologies.
The worldwide zero-energy buildings market is predicted to grow at an annual rate of 39.02 percent through 2021. Zero-energy buildings absorb just as much energy as they create.
Helping fuel the growth is continuing widespread use of renewable energy resources, according to research firm Technavio. The demand for energy will be unmet due to the absence of fossil fuels, researchers said.
The prognosis comes as public and commercial real estate in 2016 dominated the worldwide zero-energy buildings market, accounting for a share of about 82 percent.
The market in Europe, the Middle East and Africa (EMEA) is expected to witness significant improvement throughout the forecast period. That’s because of the high demand for photovoltaic (PV) installations from electricity utilities and residential businesses, which are the significant end-users of solar energy systems in the area. Advances in technology are also attracting interest from several vendors.
Commercial energy storage
The installation of solar arrays and wind farms has become more widespread over the past decade, thanks to reduced prices and technological advancements that have contributed to greater power output.
The International Energy Association anticipates that average yearly global renewable installations will be 80 percent higher than oil, coal and natural gas combined through 2040. And Navigant Research expects that the wind and solar PV installations — both in front of and behind the meter — will surpass 1,500 gigawatts cumulatively through 2026.
Annual earnings for energy storage connected to utility-scale solar and wind is expected to reach $9.6 billion by 2026. Revenue for behind-the-meter installations is expected to exceed $13 billion in the same timeframe.
That latter category includes industrial and commercial (C&I) and residential installations and is expected to account for nearly 70 percent of renewables incorporated with storage capability over the next ten years.
The most important driver for the two C&I and residential deployments combining renewables with energy storage is reduced electricity prices.
Commercial air conditioners
The industrial air purifier marketplace is anticipated to grow at an annual rate of 4.93 percent through 2021, driven in large part by green-building efforts.
The growth of demand for industrial property leasing of green buildings is fueling demand for components which improve air quality, reduce operating costs and improve occupant comfort. Green buildings make extensive use of air conditioners, thus making the demand, study shows.
Another contributor to the expected growth is increased commercial building in emerging markets. Rapid urbanization and economic growth have led to a rise in the building of malls, hospitals, commercial buildings, hotels and production facilities.
Vertical gardens rising
Vertical garden building is expected to grow 11 per cent this year, led by widespread green initiatives, reports 360MarketUpdates.
Vertical gardening is a method of growing plants up or from a wall. A relatively new industry, it has gained popularity in recent years because of increasing concerns associated with environmental protection. The process of vertical garden construction requires skilled labour with knowledge about horticulture. Vertical gardens are usually installed across an entire wall or up in high places, as a result, an airtight safety management system must be in place before any labourers begin work.
The worldwide vertical garden building market is expected to benefit from the government initiatives around the world to restrict carbon footprint, study shows. Many vertical gardens are being — and will continue to be — installed inside buildings. Interior gardens are constructed to offer scenic beauty to the construction and absorb pollutants for a cooling effect.
With increasing environmental concerns, governments across the world are pushing mandates and standards to promote vertical garden construction as one of the very important environmental solutions for your business, study found.