The U.S. green building market is accelerating at a dramatic rate, according to McGraw-Hill Construction’s “Green Outlook 2009: Trends Driving Change” report, released Nov. 18 at the Greenbuild International Conference and Expo in Boston. The value of green building construction starts was up five-fold from 2005 to 2008 (from $10 billion to $36-$49 billion), and could triple by 2013, reaching $96-$140 billion.
Construction’s Green Outlook 2009 estimates the value of the U.S. green
building market over the next five years, based on data found in the
McGraw-Hill Construction Network - powered by the Dodge database, construction
industry surveys, data analysis and analysis of other indicators, including
increases in LEED certification and government regulation.
business opportunities afforded by green building, even in the midst of a
global economic crisis, are real and recognized by industry players,” saidHarvey M. Bernstein, vice president of industry
analytics, alliances and strategic initiatives, McGraw-Hill Construction.
“Furthermore, green building has great potential to help tackle unemployment
through green jobs, and can address other societal issues, such as creating
healthier places where we live and work.”
building is the bright spot in an otherwise tough economy. U.S. Green Building
Council members report green building to be less affected by the down market
compared to non-green building, and homebuyers are willing to pay more for a
green home. Perceived economic benefits are driving green building, including
higher revenues, lower lifecycle costs and lower operating costs, but builders
and buyers are also motivated by health benefits, new government regulation and
pressure from global competition.
Construction attributes green building’s rapid expansion to growing public
awareness, an increase in government regulations and recognition of bottom-line
advantages. Since 2005, the perceived benefits of green building have increased
and differentiated as people become more knowledgeable about green building.
The decrease in operating costs is the most often cited benefit (13.6 percent,
up from 8-9 percent in 2005), followed by the increase in building values (10.9
percent, up from 7.5 percent in 2005).
information and specific green building projects can be found in the Green
Outlook 2009 Report and on theGreenSource
Web site. To order a copy of the report, visithttp://construction.com/market_research/default.asp.