Green Roof Market – By Roof Type , By Application , By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030

Green Roof Market Overview:

Green Roof Market size is estimated to reach US$6.2 billion by 2030, growing at a CAGR of 15% during the forecast period 2024-2030. The advantages of green roof such as enhanced air quality, temperature regulation, decline in Greenhouse Gas (GHG) emissions, are the main factors driving the growth of the green roof market. This heightened awareness underscores the role these eco-friendly roofing solutions play in fostering sustainability and addressing pressing environmental concerns. This trend is expected to boost the growth of the Green Roof Market during the forecast period.The construction and maintenance of green roofs often involve the use of recycled and locally sourced materials, minimizing the environmental impact associated with traditional roofing systems. This commitment to resource conservation aligns with the principles of sustainable development which contributes to a positive outlook for the Green Roof industry during the forecast period.

Market Snapshot: 

Green Roof Market - Report Coverage:

The “Green Roof Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Green Roof Market.
 

 COVID-19 / Ukraine Crisis - Impact Analysis:  

• Amid the COVID-19 pandemic, the green roof market witnessed a major downfall in the growth and demand owing to the various economic and legal restrictions imposed in countries across the world. Construction sector was badly hit as only essential construction was permitted. This halted many activities across the globe which affected the operations and activities of the green roof market.
• The Russia-Ukraine war has introduced uncertainties in global markets, affecting various industries, including the green roof sector. Economic instability and geopolitical tensions have led to fluctuations in material prices, potentially impacting the cost of green roof installations. The war's broader economic repercussions may influence investment decisions and government policies, shaping the trajectory of the green roof market.

Key Takeaways:

• Dominance of Europe

Geographically, in the Green Roof market share, Europe is analyzed to hold the largest market share of 38% in 2023 attributed to its adoption of sustainable practices. In July 2023, the European Parliament approved the landmark Nature Restoration Law. One of the ecosystems addressed in the law is urban areas for which the European Commission proposes a framework of legally binding urban greening targets in public spaces and in the design of buildings. For the urban ecosystem the law mandates Member States to halt the net loss of urban green spaces by 2030 and increase the green spaces in cities by 3% in 2040 and 5% by 2050, compared to the area of green spaces in 2021, the baseline year. This approach aligns with Europe's robust investments in sustainable building solutions, solidifying its dominant role in the growing Green Roofs market.

• Extensive is the Largest Segment

In the Green Roof Market analysis, the extensive segment is estimated to be the largest by type. An extensive green roof represents a natural form of vegetation that is largely self-sustaining and evolving. According to an article by ITV in December 2023, Cambridge is top in the UK outside of London for lower maintenance extensive green roofs. According to a study by the University of Cambridge, there are 38 extensive green roofs in the city, covering a total area of 14,000 m2. This represents 0.14% of the total roof area of the city, which is higher than the national average of 0.05%. The study also found that Cambridge's extensive green roofs are mostly low maintenance, with 87% of them having no irrigation system and 79% of them having no fertilization. 

• Residential is the Fastest Growing Segment in the Market

According to the Green Roof Market forecast, the residential segment is estimated to register the fastest growth during the forecast period. Increasing awareness of environmental sustainability has prompted homeowners to embrace eco-friendly solutions, and green roofs align with this trend by offering energy efficiency and improved air quality. Moreover, government incentives and policies promoting sustainable building practices further encourage homeowners to invest in green roofs. For instance, the City of Toronto instituted an incentive/grant program known as the Eco-Roof Incentive Program that offers support for eligible green roof projects in the amount of $75.00 per sq. m of roof surface, up to a maximum of $100,000. 

• Reduction in Energy Consumption

The reduction in energy consumption serves as a main driver for the widespread adoption of green roofing. This eco-friendly solution significantly enhances a building's thermal performance, ensuring effective heat retention during colder months and mitigating solar heat absorption in hotter seasons. A study by Environment Canada revealed a remarkable 26% decrease in both summer cooling needs and winter heat losses with green roofs. By reflecting 27% of solar radiation, absorbing 60% through vegetation, and incorporating evapotranspiration, green roofing slashes building temperatures by up to 20°C. This leads to a substantial 25% to 80% reduction in air-conditioning requirements, contributing to year-round energy savings and cost-effective temperature control.

• Rising Sustainability Demand

The increasing demand for sustainability serves as a driver for the adoption of Green Roofs. As environmental consciousness gains prominence, businesses and individuals seek eco-friendly solutions to align with sustainable practices. Green roofs emerge as a great choice, offering a blend of ecological and economic benefits. They contribute to reduced energy consumption, improved air quality, and urban biodiversity. In response to this rising sustainability demand, industries are increasingly incorporating green roofs into building designs, not only meeting environmental regulations but also enhancing corporate social responsibility. This growing commitment to sustainability positions green roofs as a key strategy for organizations and individuals striving to make ecologically responsible choices in the construction environment.

• High Initial Capital Expenditure to Impede to Market Growth

One of the biggest challenges is the initial capital investment required for green roofs. Firstly, the materials used for green roofs, including specialized waterproofing, drainage systems, and soil substrates, can be more expensive than traditional roofing materials. Additionally, the installation process involves skilled labor and expertise in horticulture or landscaping, contributing to higher labor costs. The engineering requirements to ensure the structural integrity of buildings with green roofs further add to the overall expenses. The considerable upfront costs associated with materials, installation, and specialized expertise pose a significant barrier to widespread adoption. Such challenges could impede the growth of the Green Roof market.

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Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Green Roof Market. The top 10 companies in this industry are listed below:

1. Sika Group
2. Axter Limited
3. Bauder Ltd.
4. Green Roof Blocks
5. Optigrün International AG
6. Sempergreen International
7. Keene Building Products
8. Soprema SAS
9. Onduline Group SAS
10. ZinCo Group

Scope of Report: 

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