Global Green Technology Market in Construction Industry 2017-2021: Top Drivers and Forecasts by Technavio

LONDON–(BUSINESS WIRE)–#ResearchTechnavio
market research analysts forecast the global
green technology market in the construction industry
to grow at
a CAGR of more than 9% during the forecast period, according to their
latest report.

The market study covers the present scenario and growth prospects of the
global green
technology market in the construction industry
market for
2017-2021. The report also lists HVAC solutions, water solutions, and
others as the three main end-user segments of which the HVAC solutions
segment accounted for close to 47% of the market share in 2016.

According to Jhansi Mary, a lead research analyst at Technavio,
“Buildings built using green technologies are resource-efficient across
the lifecycle of the building. This includes design, operation,
renovation and maintenance, and demolition. Although a green building
incurs comparatively higher costs during construction, the long-term
cost benefits associated with it and its contribution to the rise in the
overall value of the property are factors bolstering its adoption in the
residential and commercial construction markets.”

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Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global green technology market in the
construction industry:

  • Better maintenance of HVAC systems
  • Easy installations
  • Opportunities for international collaborations

Better maintenance of HVAC systems

Green technologies have resulted in HVAC technicians to be trained,
resulting in improvement of their learning curve. As the adoption of
green technologies for HVAC rises in the residential and commercial
segments, technicians will learn how to maintain and repair the
equipment, irrespective of the brand. They will also get well versed
with building regulations, certifications, and codes. This will
eventually result in undifferentiated maintenance service of HVAC
leading to increased consumer confidence in installing green technology
based HVAC equipment.

Easy installations

Leading vendors are developing green technology solutions for the
construction market, which are easy to understand and adopt to improve
the utilization rates. For instance, in air quality sensors, features
like demand-controlled ventilation adjusts air supply as per volume
requirements. Also, multi-sensors are used for simultaneous recording of
various parameters. This reduces the need for cabling activity.
Communicating sensors used for flush mounting indicate room’s air
quality via LED lights.

During construction, post plastering, and painting, these sensors can be
wall mounted and conveniently snapped onto the mounting plate. Aspects
like digital correction algorithms guarantee uninterrupted availability
of prompt measurement signal. Additionally, with frames from third-party
manufacturers, these sensors can be designed to blend with the
respective environment.

Opportunities for international collaborations

The adoption of green technology is high in most countries. However,
advanced technology solutions are offered by a few players that are
mainly concentrated in the developed countries. As a result, for
effective implementation and optimum ROI, regional companies enter into
collaborations with these companies to procure green technology
solutions. For instance, small and medium-sized European enterprises
envision huge revenue opportunities in the Chinese market. As Europe is
a pioneer in green technology, Chinese companies show keen interest to
collaborate with the European companies, making it a win-win situation
for all the stakeholders leading to the higher adoption of green

“Similarly, in India, favorable government policies and the booming
construction market is encouraging many global green technology
companies to enter the market. In 2015, through a joint venture,
SoftBank, Bharti Enterprises, and Taiwan’s Foxconn Technology proposed
to invest over USD 15 million in various solar energy projects in the
,” says Jhansi.

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Technavio Research
Jesse Maida
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