Market Size of North America Green Buildings Industry
Study Period | 2020 - 2029 |
Market Size (2024) | USD 206.5 Billion |
Market Size (2029) | USD 341.20 Billion |
CAGR (2024 - 2029) | 10.57 % |
Fastest Growing Market | Americas |
Largest Market | Americas |
Major Players*Disclaimer: Major Players sorted in no particular order |
North America Green Buildings Market Analysis
The North America Green Buildings Market size is estimated at USD 206.5 billion in 2024, and is expected to reach USD 341.20 billion by 2029, growing at a CAGR of 10.57% during the forecast period (2024-2029).
Federal, state, and local environmental regulations in the United States and Canada incentivize green building practices. Building codes, energy efficiency standards, and emissions regulations promote sustainable construction and renovation projects.
Certification programs such as LEED (Leadership in Energy and Environmental Design), formed by the US Green Building Council (USGBC) and Green Globes, provide benchmarks and standards for sustainable building design, construction, and operation. These programs encourage adopting green building practices and offer recognition for environmentally responsible projects.
Advancements in green building technologies, including energy-efficient HVAC systems, smart building automation, renewable energy solutions (such as solar panels and wind turbines), and sustainable materials (such as recycled content and low-emission products), enhance building performance and sustainability.
Financial incentives such as grants, rebates, tax credits, and low-interest loans encourage investment in green building projects. Governments, utilities, and financial institutions offer these incentives to promote energy efficiency, renewable energy adoption, and sustainability.
Many governments provide tax credits for various green building initiatives. For instance, the U.S. federal government offers the Investment Tax Credit (ITC) for solar energy systems, allowing businesses and homeowners to deduct a particular portion of installing solar panels from their taxes. Specifically, as per the Inflation Reduction Act implemented by Congress in 2022, the ITC is 30% of the solar system cost until 2033 and will gradually reduce until it expires in 2035.
Similarly, some states offer tax credits for energy-efficient building upgrades, such as installing insulation, energy-efficient windows, or HVAC systems.
North America Green Buildings Industry Segmentation
Green buildings refer to structures designed, built, operated, and maintained in an environmentally responsible and resource-efficient manner throughout their lifecycle. These buildings aim to reduce their environmental impact while providing occupants with a healthy and comfortable space. Green building practices often involve incorporating renewable energy sources like solar panels, implementing efficient heating and air conditioning (HVAC) systems, maximizing natural light and ventilation, and utilizing water recycling and waste management technologies. A complete background analysis of the Brazilian commercial real estate market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact, is covered in the report.
The North American green buildings market is segmented by product (exterior products, interior products, and other products (building systems, solar systems, etc.)), end user (residential, office, retail, institutional, and other end users), and geography (United States, Canada, and Rest of North America). The report offers market size and forecasts for all the above segments in value (USD).
By Product | |
Exterior Products | |
Interior products | |
Other Products (Building Systems, Solar Systems, etc.) |
By End User | |
Residential | |
Office | |
Retail | |
Institutional | |
Other End Users |
By Geography | |
United States | |
Canada | |
Mexico |
North America Green Buildings Market Size Summary
The North America green buildings market is poised for growth, driven by a combination of federal, state, and local environmental regulations in the United States and Canada that incentivize sustainable construction practices. These regulations, along with building codes and energy efficiency standards, promote the adoption of green building practices. Certification programs such as LEED and Green Globes provide benchmarks for sustainable design and operation, encouraging the integration of energy-efficient technologies and renewable energy solutions. Financial incentives, including grants, tax credits, and low-interest loans, further stimulate investment in green building projects, supporting the transition towards more sustainable infrastructure.
The market is characterized by a competitive landscape with key players like Interface and Owens Corning offering sustainable materials and technologies. The integration of smart building and IoT technologies is transforming the industry, enhancing efficiency and reducing costs. Organizations are increasingly investing in renewable energy solutions and energy-efficient technologies to lower their carbon footprint and operating costs. Collaborative efforts among stakeholders, technological advancements, and a focus on sustainability are shaping the market dynamics. Regulatory changes, such as Canada's updated building code and the U.S. government's new energy standards, are expected to further influence the market, promoting energy efficiency and reducing greenhouse gas emissions.
North America Green Buildings Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Current Market Scenario
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1.2 Technological Trends
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1.3 Insights on Supply Chain/Value Chain Analysis of the Green Buildings Industry
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1.4 Brief on Different Structures Used in the Prefabricated Buildings Industry
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1.5 Cost Structure Analysis of the Green Buildings Industry
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1.6 Impact of COVID 19
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Exterior Products
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2.1.2 Interior products
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2.1.3 Other Products (Building Systems, Solar Systems, etc.)
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2.2 By End User
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2.2.1 Residential
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2.2.2 Office
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2.2.3 Retail
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2.2.4 Institutional
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2.2.5 Other End Users
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2.3 By Geography
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2.3.1 United States
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2.3.2 Canada
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2.3.3 Mexico
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North America Green Buildings Market Size FAQs
How big is the North America Green Buildings Market?
The North America Green Buildings Market size is expected to reach USD 206.5 billion in 2024 and grow at a CAGR of 10.57% to reach USD 341.20 billion by 2029.
What is the current North America Green Buildings Market size?
In 2024, the North America Green Buildings Market size is expected to reach USD 206.5 billion.