Global Green Technology Market in Construction Industry 2017-2021
About Green Technology Market in Construction Industry
Green technology is a concept that promotes the creation and adoption of new technologies and innovations, which can minimize depletion and disturbance of natural resources. As a result, adoption of this technology across industries is driven by a standard set of goals. These goals mostly focus on creating sustainable technology solutions that significantly reduces the damage caused to the environment. With this objective, there is also a strong focus to invent products that can be reused for energy creation and consumption. Consequently, this technology helps industries in playing a vital role in contributing to a cleaner environment. This in turn, will help countries address challenges related to pollution, climate change, and resource depletion.
Technavio’s analysts forecast the global green technology market in construction industry to grow at a CAGR of 9.26% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global green technology market in construction industry for 2017-2021. To calculate the market size, the report considers the sales of green technology solutions sold for the construction market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Green Technology Market in Construction Industry 2017-2021
Technavio recognizes the following companies as the key players in the global green technology market in construction industry: GE, Siemens, aleo, and Spruce Finance.
Other Prominent Vendors in the market are: Vivint Solar, Inc., Trina Solar Limited, Eco-$mart, Inc, Aqualogic Inc, ALAN Manufacturing Inc, Trane Inc, JA Solar Holdings, Solar Spectrum, and RUUD.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is product localization. Most green technology solutions are unsuccessful, as they are not customized as per regional requirements. Vendors that intend to expand their geographic presence are working on innovative branding strategies by promoting aspects of the solution that addresses the specific region's requirements. For instance, in India, consumers tend to prefer the most affordable solutions. Hence, vendors ensure they promote this aspect of their product rather than completely emphasizing on the technical details of the solution.”
According to the report, one of the major drivers for this market is better maintenance of HVAC systems. Green technologies have resulted in HVAC technicians to be trained, resulting in improvement of their learning curve. As the adoption of green technologies for HVAC rises in the residential and commercial segments, trainers will learn how to maintain and repair the equipment, irrespective of the brand. They will also get well versed with building regulations, certifications, and codes. This will eventually result in undifferentiated maintenance service of HVAC. It will also increase the consumer's confidence to install more green technology based HVAC equipment.
Further, the report states that one of the major factors hindering the growth of this market is lack of awareness. One of the main challenges in green technology construction is the lack of awareness among people. People should be guided and informed regarding the benefits of green building. Promoting and creating awareness is the initial and biggest step to ensure the development of green buildings.
GE, Siemens, aleo, Spruce Finance, Vivint Solar, Inc., Trina Solar Limited, Eco-$mart, Inc, Aqualogic Inc, ALAN Manufacturing Inc, Trane Inc, JA Solar Holdings, Solar Spectrum, and RUUD.