INTERNATIONAL NEWS - Indian and Chinese building sectors are the major growth drivers in this region. The Chinese building market is chiefly driven by demand for commercial building space. The commercial office buildings with an area between 100,000 and 150,000 square meters and residential developments spanning across more than 500,000 square meters of construction area will be in demand in China over the next 15 years. A growing market combined with favorable government policies mark the Asia-Pacific region as the next growth driver for the global green building industry in the coming years.
Green buildings help to reduce carbon dioxide emissions through low consumption of energy. The global carbon offset trading market stood at around US $100 billion in 2008. Globally, buildings account for 39% of total energy usage and 38% of the carbon dioxide emissions. Green buildings use 30% lesser energy than the conventional buildings and thus help to reduce CO2 emissions. Reduction of each ton of CO2 will lead to generation of one Certified Emission Reduction (CER) valued at around US $16 in the United States and around US $22 in Europe.
The World Green Building Council has promoted the cause for green buildings by initiating various programs at the global as well as regional level. The formation of respective Green Building Councils at the country level has boosted the adoption of green building systems in the mainstream construction industry. The Green Building rating system adopted by various green building councils help to identify the effectiveness of the building under consideration in its pursuit of energy efficiency.
The emergence of insurance products specifically for green buildings has helped to popularize the sustainable building systems. Environment pollution has been the cause behind numerous environmental calamities leading to loss of property and lives. The claims arising out of these losses have prompted insurance companies such as AIG and Sompo Japan to launch Green Building Insurance schemes.
GlobalData's new report "Global Green Building Market Analysis and Forecasts to 2015" identifies the various opportunities in the global green building industry. The global construction market grew at a CAGR of 5.24% during the period 2003-2008. Though the market faced a slowdown in 2008 due to the global financial crisis, the green building market grew at a positive rate. The report covers the existing as well as upcoming markets and identifies the industry dynamics in terms of the drivers, barriers and policies. This report can be helpful for an existing company or a new investor in the green building sector. The technical information provided in this report will help the reader garner a fair idea about how the technology behind various green building systems work which may enable further R & D activity to be carried out in this area. The market statistics provided in the report and the information about the major players may also help to devise strategies to gain competitive edge over the existing players.
Source: Global Markets Direct