Latest News- Green-Roofs Market: Residential is expected to lead the Application segment during 2024-2028

The Green-Roofs Market is being driven by Reduction in global warming due to green roofs

The Green-Roofs Market is expected to grow at a CAGR of 10.39% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 7250.4 million. Green roofs, an eco-friendly building solution, can be enhanced with the integration of solar photovoltaic (PV) arrays, resulting in bio-solar roofs. This fusion of green roof technology and renewable energy systems aims to minimize greenhouse gas emissions and promote sustainable building development. The combination of these systems offers increased functionality and effectiveness through cooling and shading effects. Photovoltaic panels shield plants from excessive sunlight and water evaporation, fostering plant growth and facilitating cooling via evapotranspiration. Simultaneously, the green-roof plants protect the PV panels from extreme temperatures, ensuring optimal performance and energy efficiency. The shaded areas created by the PV panels on the roof further contribute to energy savings and reduced heat absorption. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Residential
  • Commercial
  • Industrial
• Product
  • Extensive
  • Intensive
• Geography
  • Europe
    • Germany
  • North America
    • Canada
    • US
  • APAC
    • Japan
    • Singapore
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Reduction in global warming due to green roofs
• Better management of rainwater runoff flow
• Supporting policies

However, the market also witnesses some limitations, which are as follows:

• Increased initial costs and long payback periods
• Competition from alternative products
• Issues due to improper installation

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Market Scope in Green-Roofs Market Research Report

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Research Analysis Overview

The Green Roofs Market encompasses the use of Living Roofs and Vegetated Roofs, which involve installing a waterproofing membrane and protective layer, followed by the growth of vegetation. Solar photovoltaic systems can also be integrated. This trend is driven by population growth, rising standard of living, and industrialization in densely populated cities. Local authorities promote sustainable urban development through green building practices, including modular systems, improved waterproofing, and rainwater/stormwater collection. Green technologies, such as these, address climate change concerns, provide energy efficiency, and mitigate heat island effects, noise pollution, and employee health issues in the Residential Construction Sector.

Market Research Overview

The global building products market encompasses businesses producing various components, including roofing and gutter materials, insulation, and home improvement products. According to Technavio, market size is determined by the consolidated revenue of manufacturers in this sector. Key growth drivers include the expansion of the construction industry, particularly in emerging economies, where there is a pressing demand for residential and healthcare infrastructure development to accommodate urbanization and population growth. Additionally, environmental concerns such as air pollution, carbon emissions, and climate change are fostering the adoption of eco-friendly solutions like green-roofs (i.e., vegetated roofs, blue roofs, and brown roofs) and insulation materials, which contribute to improved air quality, biodiversity, and energy efficiency. Architects increasingly incorporate these features into commercial applications, including commercial buildings, to meet sustainability goals and enhance aesthetic appeal.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/