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Vertical Garden Construction Market Expected to Reach $2468.3 Million by 2032—Allied Market Research

 
2022
Vertical Garden Construction Market

Report Code : A03902

quote The vertical garden construction market has witnessed a surge largely owing to increased popularity of living with nature and increasing demand for sustainable buildings. In addition, benefits of indoor vertical gardens in improving productivity and reducing stress of inhabitants is also positively affecting the adoption rate of vertical gardens. quote

Onkar Sumant - Manager
Construction and Manufacturing at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Vertical Garden Construction Market," The vertical garden construction market size was valued at $1081.7 million in 2022, and is estimated to reach $2468.3 million by 2032, growing at a CAGR of 8.6% from 2023 to 2032.

Commonly observed types of vertical gardens are indoor vertical garden wall or outdoor vertical garden wall. In 2022, the outdoor vertical garden wall segment held a larger vertical garden construction market share in terms of revenue as compared to the indoor vertical garden wall segment. Moreover, witnessing the growing popularity of outdoor vertical garden walls, it is estimated to grow with a higher CAGR. The key factors contributing to the rising popularity of outdoor vertical garden walls include their ability to enhance the appearance of the buildings, and the insulation it provides to the building if it is allowed to grow on the building façade. On the basis of garden type, the market is analyzed across different types of gardens such as green wall vertical garden, and green façades vertical garden, freestanding vertical garden, including others.

Among these garden types, the green wall vertical garden segment accounted for a higher market share in 2022. On the other hand, the green façades vertical garden segment is anticipated to grow with a higher CAGR during the forecast period. Adopting a green wall vertical garden can enhance the interior of a building and improve the mood of people living inside. In addition, these types of vertical gardens can easily be engineered for exterior applications. Moreover, green façades vertical garden can greatly enhance the exterior appearance of the building.

Depending on application, the market is categorized into residential and commercial. Among these, the commercial segment accounted for a substantial share in 2022, in terms of revenue. On the contrary, the residential segment is anticipated to grow with a higher CAGR during the forecast period. Green vertical gardens can vastly help commercial buildings to attract more people in case that commercial building is a shopping mall, retail shop, restaurant, and other such place. In addition, various countries also use vertical gardens to cover pillars of elevated highways.

However, the high maintenance cost of the façade garden is anticipated to restrain the market growth to a certain extent. Contrarily, the developments in the vertical garden construction industry such as the adoption of IoT in vertical gardens to monitor the health of soil and plants are expected to provide lucrative opportunities for vertical garden construction market growth.

In 2022, Asia-Pacific dominated the global vertical garden construction market, in terms of revenue, and the is anticipated to grow with the highest CAGR, owing to increased investments in the construction of buildings in countries such as India, China, Indonesia, Vietnam, and Singapore. In addition, growing disposable income of people in the region is also enabling them to buy and install vertical gardens at their homes. Government support for developing sustainable buildings also positively influences the vertical garden construction market outlook. 

However, various businesses in the vertical garden construction market had to stop their businesses in countries such as India, China, Singapore, the U.S., and countries in Europe during the pandemic. This break directly impacted the vertical garden construction industry. In addition, the lack of manpower and increased cost of raw materials constricted the supply of materials used for making various vertical garden components, which negatively influenced the growth of the vertical garden construction market.

However, owing to the introduction of vaccination, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly. However, the exponential growth of COVID-19 cases in China was an event of concern for the entire world. Moreover, the quantitative easing of the economy done during COVID-19 by many countries across the world led to worldwide inflation, which is having a very negative impact on the growth of all industrial sectors including the construction sector. In addition, inflation has also been boosted by the Ukraine-Russia war, which led to an increase in oil & gas prices.

Key Findings of the Study

  • The report provides an extensive analysis of the current and emerging vertical garden construction market trends and dynamics. 
  • Depending on the type, the outdoor vertical garden wall segment dominated the vertical garden construction market, in terms of revenue in 2022.
  • Depending on the garden type, the green wall vertical garden segment dominated the vertical garden construction market, in terms of revenue in 2022.
  • By application, the commercial segment accounted for the highest revenue share in 2022.
  • Asia-Pacific dominated the market in 2022 and is projected to dominate the vertical garden construction market forecast by registering the highest growth rate in the coming years.
  • The key players within the vertical garden construction market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the vertical garden construction industry.
  • The report provides an extensive analysis of the current trends and emerging opportunities in the market. 
  • In-depth vertical garden construction market analysis is conducted by constructing estimations for the key segments between 2023 and 2032.

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quote Vertical Garden Construction Market by Type (Indoor Vertical Garden Wall, Outdoor Vertical Garden Wall), by Garden Type (Green Wall Vertical Garden, Green Façades Vertical Garden, Freestanding Vertical Garden, Others), by Application (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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