Green-Roofs Market Records an Incremental Growth of USD 8.82 Billion During 2020-2024|Technavio
NEW YORK, April 21, 2021 /PRNewswire/ -- The green-roofs market is expected to grow by USD 8.82 billion during 2021-2025, according to the new report from Technavio. This marks a significant market slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. In addition, the report projects the market to accelerate at a CAGR of almost 14%.
The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
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Green-Roofs Market: Reduction in global warming due to green-roofs to drive growth.
Green roofs are plants grown on top of the buildings to reduce temperatures on roofs and decrease ambient temperature. Plants use heat and light energy from the sun in the process of photosynthesis and lower the heat in the environment. Green roofs decrease the emissions of greenhouse gases from air conditioning due to the temperature control effect. These benefits encourage various governments in developing supportive policies for the adoption of green roofs. Green roofs add plantation on roofs where most of the radiation from the sun can be absorbed. The controlled radiation effect also reduces global warming, which, in turn, will drive the demand for green roofs over the forecast period.
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As per Technavio, the better management of rainwater runoff flow will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Green-Roofs Market: Better management of rainwater runoff flow.
Rainwater is not absorbed into the ground made of concrete and asphalt. Hence, rainwater will flow into the sewage system or can also flood roads which causes additional expenses to remove water and dirt. With the adoption of green roofs, some of the rainwater gets stored in the drainage systems installed with green roofs while the rest of the rainwater gets absorbed by the soil. The runoff of rainwater in these drainage systems can be delayed as rainwater gets absorbed in the green roof. Succulent plants in green roofs absorb large quantities of water, thus increasing the amount of rainwater being retained. Thus, green roofs help in the better management of rainwater runoff flow which in turn drives the market.
"The integration of green-roof and solar photovoltaic systems will further boost market growth during the forecast period", says a senior analyst at Technavio.
Green-Roofs Market: Major Vendors
- Axter Ltd.
- Bauder Ltd.
- Bender GmbH & Co. KG
- Optigreen international AG
- RENOLIT SE
Green-Roofs Market: Segmentation Analysis
This market research report segments the green-roofs market by product (Extensive and Intensive), geography (Europe, North America, APAC, South America, and MEA), and application (commercial and residential).
The Europe region led the green-roofs market in 2020, followed by North America, APAC, South America, and MEA respectively. During the forecast period, the North America region is expected to register the highest incremental growth due to multiple benefits of green roofs.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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SOURCE Technavio
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