Green Roof Market is Expected to Reach $4.19 Billion by 2027

PORTLAND, OR, UNITED STATES, September 25, 2023 /EINPresswire.com/ -- As the world grapples with the escalating challenges of global warming and the greenhouse effect, innovative solutions are emerging to address these pressing concerns. One such solution is the widespread adoption of green roofs. These eco-friendly rooftop gardens not only mitigate the adverse effects of climate change but also elevate the quality of life for residents. In this article, we explore the factors driving the growth of the green roof market and the transformative impact of this sustainable trend.

Increase in greenhouse effect and global warming around the globe fuels the growth of the market. Increase in disposable income of the population and improvement in the standard of living in several developing economies is projected to cater to the growth of the green roof market. Moreover, government mandates to install green roofing for commercial areas are anticipated to drive the growth of the market. For instance, in April 2018, the government of France made it mandatory to install green roofs for all new commercial sectors, thereby providing lucrative opportunities for the growth of the market.

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Market Statics:
The global green roof market size accounted for $1.45 billion in 2019, and is expected to reach $4.19 billion by 2027, registering a CAGR of 15.6% from 2020 to 2027. In 2019, Europe region dominated the global market, in terms of revenue, accounting for about 39.5% share of the global market, followed by Asia-Pacific and North America.

The Environmental Imperative
The rise in greenhouse gas emissions and the resulting global warming phenomenon have necessitated urgent action to combat climate change. Green roofs, characterized by their lush vegetation and plant life, have emerged as a crucial tool in this battle. These roofs absorb carbon dioxide and release oxygen, effectively acting as natural air purifiers. By doing so, they help mitigate the greenhouse effect, contributing to a healthier planet.

Economic Progress and Quality of Life
Developing economies have witnessed significant growth in disposable income and a simultaneous improvement in the standard of living. This increase in affluence has paved the way for the expansion of the green roof market. People are increasingly investing in sustainable solutions that not only benefit the environment but also enhance their quality of life.

Residential Adoption
The adoption of green roof systems is not limited to commercial sectors alone. Countries like the Netherlands, Belgium, and Russia are planning to implement green roof systems in residential buildings. For instance, Rotterdam Zuid, a commercial complex in the Netherlands, installed green roof systems covering approximately 7,600 square meters of greenery in March 2020. This expansion into residential spaces signifies a growing awareness of the benefits of green roofs among homeowners and developers alike.

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The report analyzes the market based on type, distribution channel, application, and region. Depending on type, the market is bifurcated into extensive green roof and intensive green roof. The extensive segment generated the highest revenue in 2019. Based on distribution channel, it is classifies into online and offline. The offline segment generated the highest revenue in 2019. On the basis of application, the green roofs market is divided into residential, commercial, and industrial. The commercial segment generated the highest revenue in 2019.

Regional Analysis:
Region-wise, the global green roof market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Top Players:
The key players profiled in the global green roof market report include Axter Limited, Bauder Ltd, Green Roof Blocks, Optigrun International AG, Sempergreen Group, American Hydrotech Inc, Barrett Company, ArchiGreen Roof Ltd, Onduline Group SAS, and XeroFlor North America.

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David Correa
Allied Market Research
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