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PORTLAND, Ore., Feb. 2, 2021 /PRNewswire/ Allied Market Research recently published a report, titled, Green Roof Market by Outlook (Extensive and Intensive), Distribution Channel (Online and Offline), and Application (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2020–2027 . As per the report, the global green roof industry generated $1.45 billion in 2019, and is projected to reach $4.19 billion by 2027, growing at a CAGR of 15.6% from 2020 to 2027.
Drivers, restraints, and opportunities
Increase in awareness regarding green roof systems, rise in the greenhouse effect, and growth in the residential construction sector drive the growth of the global green roof market. However, presence of substitutes and unfavorable climate conditions hamper the market growth. On the contrary, tax benefits offered by the government to private industries to install green roofs are expected to open lucrative opportunities for th