Green Roof Market

Green Roof Market Statics - 2027

The green roof market size was valued at $1,451.3 million in 2019 and is expected to reach $4,192.0 million by 2027, registering a CAGR of 15.6% from 2020 to 2027. A green roof is a layer of plants planted in a waterproofing system that is installed on a flat or sloped roof. It is an effective solution to cut down excessive heat produced during the day time in summers.

The COVID-19 pandemic has negatively affected the global green roofs market mainly due to the halt in international trade, ceased construction projects, and prolonged lockdowns.

Extensive and an intensive are two types of green roofs. Green roof is used in residential, commercial, as well as industrial areas. Increasing awareness about green roofing systems across various end users, such as residential and industrial, drives the growth of the market. 

Increase in residential construction and rapid urbanization in developing countries are some of the factors leading to the growth of the market. For instance, urbanization in India grew by 0.98% from 2018-2019. In addition, employment opportunities provided for educated and skilled individuals who can efficiently manufacture green roofs is another factor, which fuels the growth of the market. 

Moreover, the green roof market is projected to register a significant growth, owing to rising global warming, which in turn, leads to rise in demand for effective natural methods to reduce heat in the atmosphere. In addition, government initiatives to attract organizations or individuals for adopting a green roof product fuel the growth of the market. For instance, in September 2019, the Hamburg government gave a subsidy of 30-60% on installation cost of green roof systems; thereby providing a lucrative opportunity for the green roof market growth. Increase in construction of industrial, commercial, and residential buildings is expected to escalate the demand for green roof systems to regulate temperature of roof and surrounding areas. Further, government support to eliminate toxic greenhouse gases and reduce global warming is anticipated to create lucrative opportunities for the market during the forecast period.

However, lack of proper designing layout and guidelines for the installation of a green roofing is expected to hinder the growth of the market. Moreover, benefits of tax offered by governments to private companies are projected to provide lucrative opportunities for the growth of the green roof market.  

The novel coronavirus impacted various industries in several countries and regions. It originated as a crisis to human health, but now poses significant threats to worldwide trade, economy, and finance. In addition, packaging, raw material supply chains, and manufacturing activities have been halted on a global scale to retain quick transmission of the virus. In addition, the COVID-19 pandemic has shut-down the production of various sizes of green roof systems, owing to lockdown in major countries such as the UK, China, the U.S., India, Japan, and Germany. This has hampered the growth of the market significantly in the past few months, which is likely to continue during 2020.  

The global market is segmented based on type, distribution channel, application, and region. Based on type, the market is divided into extensive and intensive. The extensive segment generated the highest revenue in 2019. Based on distribution channel, the market is bifurcated into online and offline. The offline segment generated the highest revenue in 2019. Based on application, the market is classified into residential, commercial, and industrial. The commercial segment generated the highest revenue in 2019. 

Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2019, Europe was the highest contributor to the green roof market share. 

Competition Analysis

The key players profiled in the global green roof industry report include Axter Limited, Bauder Ltd, Green Roof Blocks, Optigrun International AG, Sempergreen Group, American Hydrotech Inc, Barrett Company, ArchiGreen Roof Ltd, Onduline Group SAS, and XeroFlor North America.

Major players in the green roof market adopted product launch, partnership, and acquisition as their key developmental strategies to expand their service portfolio. For instance, in August 2019, Barrett Company was acquired by Keen Family of Companies based in the U.S. The acquisition aimed to improve the portfolio of green roof and roofing system in the U.S.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging global green roof market trends and dynamics.  
• In-depth green roof market analysis is conducted by market estimations for the key segments between 2019 and 2027. 
• Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
• A comprehensive analysis of all the countries is also provided in the green roof market report.
• The global green roof market forecast analysis from 2020 to 2027 is included in the report.
• The key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry. 

 Green Roof Market Report Highlights