- The growing awareness about the benefits and introduction of government policies are driving the need for the market.
- Market Size – USD 1.14 Billion in 2019, Market Growth - CAGR of 17.2%, Market Trends -Growing environmental concerns.
NEW YORK, June 23, 2020 /PRNewswire/ -- The global Green Roof market is forecast to reach USD 3.79 Billion by 2027, according to a new report by Reports and Data. The green roof market is projected to increase dramatically over the forecast timeframe as a result of the rising global alert, which in turn stimulates demand for successful natural methods to mitigate rising ambient heat. The effectiveness of green roofing in reducing emissions of toxic greenhouse gases in the atmosphere generated by multiple sources is one of the main reasons for green roof significant growth during the forecast period. Increasing the development of industrial, commercial, and residential buildings is anticipated to accelerate the heat from the atmosphere, which in turn is supposed to propel green roof demand growth. Additionally, government encouragement to the green roof to mitigate global warming and release of hazardous greenhouse gasses will help expand the green roof market in the coming years. Another factor for success for the green roof sector is the job prospects for professional people who can effectively produce green roofing.
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The lack of appropriate layout design and guidelines for installing living roofs is anticipated to pose a significant threat to the growth of this market. Additionally, unpleasant environmental conditions in regions such as the Middle East, such as intense temperatures, are likely to limit industry growth. Also, low-maintenance facilities are expected to continue posing a challenging market growth environment.
The COVID-19 impact:
Covid-19's spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of requirements relating to raw materials are becoming a problem for producers. To rationalize production the producers depended on derived demand as an intermediate commodity. The economic impact of the pandemic on firms and financial markets is not favorable either. Share market uncertainty and increasing economic growth are expected, impacting the market. Over the weeks, the sector has undergone a slowdown, which will persist over the coming months. The Asia Pacific region was most affected by this pandemic, with China at the forefront of the epidemic. Most initiatives in multiple countries have changed to a temporary halt. Production and supply were put on hold, resulting in losses for manufacturers, dealers, and consumers.
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Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented into the global Green Roof market on the basis of product, Distribution Channel, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.