Green building to triple to US$140bn

Source: Exec Digital USA

Date :11/19/2008 2:25:03 AM

The green building market could expand threefold in five years, according to a new report from McGraw-Hill Construction.

Green building could buck the construction trend, expanding rapidly over the next few years, according to McGraw-Hill’s research. In the report, entitled "Green Outlook 2009: Trends Driving Change," the firm predicts that the green and eco-friendly construction will increase rapidly, despite the downturn in the industry.

The sector, which was valued at US$10 billion in 2005, is now thought to be worth as much as US$49 billion. If the industry triples as expected by 2013, it will be worth US$140 billion.

"Green growth is phenomenal across the globe," said McGraw-Hill Construction’s Vice President of Industry Analytics, Alliances and Strategic Initiatives, Harvey M. Bernstein. "The business opportunities afforded by green building, even in the midst of a global economic crisis, are real and recognized by industry players."

The report was released to coincide with the opening of the annual US Green Building Council’s annual conference.