Governments of various nations and private companies are launching a variety of subsidiaries and programs to increase the implementation of green roof systems.New York, United States, Oct. 05, 2023 (GLOBE NEWSWIRE) Green roofs are also known as vegetated roofs and living roofs. A green roof is a coating of planted flora on top of a waterproofing system installed on top of a completely flat or very gently sloping roof. “The global green roof market size is envisioned to reach USD 5,952 million
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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