Single-Family Housing Green Buildings Global Market Report 2022

Major players in the market are Turner Construction Co., Clark Group, AECOM, Hensel Phelps, Holder Construction, Whiting-Turner Contracting Co., The Gilbane Building Co., Skanska USA, Structure Tone and Webcor Builders.

The global single-family housing green buildings market is expected to grow from $105.26 billion in 2021 to $120.89 billion in 2022 at a compound annual growth rate (CAGR) of 14.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $209.34 billion in 2026 at a CAGR of 14.7%.

The single-family housing green buildings market consists of construction, sales and maintenance of sustainable (green) single-family residential buildings, and related services for households. Green construction refers to the practice of using sustainable building materials and construction processes to create energy-efficient buildings with minimal environmental impact throughout a building’s life-cycle (design, construction, maintenance, operation, renovation and deconstruction).

The main types of single-family housing green buildings are new constructions and remodeling projects.A remodelling project has a lot more levels and aspects than a renovation project.

It usually entails removing and reinstalling the structure and functionality of an area using trades including plumbing, electrical and carpentry.

Asia Pacific is the largest region in the single-family housing green buildings market in 2021.Africa is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Greater consumer interest has contributed to the growth of single-family residential green buildings.Customers, particularly millennials, are showing more interest in sustainable and net-zero energy homes considering the environmental concerns as sustainable (green) building design include the use of natural and renewable sources.

The increased awareness of the benefits associated with sustainable green practices such as less exposure to toxins and contaminants from building materials, reduced air pollution inside the residence, and improved environmental health/quality is propelling the market growth.

Consumers and builders are targeting towards achieving more sustainable homes and are focusing on minimizing carbon footprint by developing self-sustainable homes, termed as Net-zero homes.A Net-zero home produces its own energy locally and should aim to produce at least as much energy as it consumes.

According to the Net- Zero Energy Coalition, in 2019, there were 5,000 net-zero energy single-family home in USA. These statistics show a trend of Net-zero homes in the residential construction market.

Higher costs, in general, hinder the buyer and the supplier to invest more in any market.The same applies to single-family homes which are very expensive compared to other homes.

The high cost associated with green features and practices is a potential barrier to the expansion of the green building market.Green features and practices add 5 to 10% to construction costs and also increase remodeling costs by more than 10 percent.

Additionally, meeting high energy efficiency regulations can increase costs by $600 to $1,000 per unit.On top of these, obtaining green building certifications can also add significantly to the cost.

Therefore, addressing the high costs for green features and practices will be essential to ensure that green building practices continue to expand.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.