Thanks in part to both consumer and governmental influence, green building trends are increasingly relevant to today’s construction professionals. Understanding how these trends vary around the world will help you better plan for your company’s future at home and abroad.
Driving Factors for Green Growth
In many developed economies, including the US, UK, Germany and Poland, the green building market has already reached a certain level of maturity, but continues to see moderate expansion. Developing economies, including Mexico, Brazil, Saudi Arabia and China have seen a much sharper increase in the percentage of construction projects that will meet green standards.
For most construction firms around the world, the top trigger for undertaking a green building project is client demand. The percentage of firms citing this trigger rose from 35 percent in 2012 to 40 percent in 2015. Increasingly strict environmental regulations are also encouraging investment in green projects.
In both cases, technological advancements support these green building trends. Both Germany and the UK plan to make BIM the standard for the design and management of construction projects, while Brazil and Saudi Arabia are moving in that direction.
Where the Jobs Are
Commercial construction, which includes office buildings, retail stores and hotels, is the top sector for green building worldwide. Some 46 percent of construction contractors expect to work on a green commercial project in the next three years. These projects are likely to be particularly popular in Germany, Poland, China and India. The UK and Australia, on the other hand, expect to see little in the way of new green commercial construction.
Institutional construction, such as schools and other government buildings, is the second strongest sector worldwide. In the US, however, it’s the sector where the highest percentage percentage of green construction projects are expected. 46 percent of US construction firms expect to take on a green institutional project in the next three years.
Retrofitting of existing buildings ranks as the third sector over all, but comes in first in the UK, South Africa and Singapore.
For more information on green building trends, contact Construction Monitor today.