Green Facade Market
Green Facade Market
Green Facade Market size was valued at $662.2 million in 2020, and is projected to reach $1485 million by 2032, growing at a CAGR of 7.2% from 2023 to 2032.
WILMINGTON, DELAWARE, UNITED STATES, April 11, 2024 /EINPresswire.com/ -- Green Facades Market by Type (Ground Based and Wall Structure Based), Application (Residential and Commercial), and Vegetation Type (Flower, Shrubs, and Other): Global Opportunity Analysis and Industry Forecast, 2023–2032." According to the report, the green facade market was valued at $662.2 million in 2020, and is estimated to reach $1485.00 million by 2032, growing at a CAGR of 7.2% from 2023 to 2032.
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Green facades are architectural elements that involve the cultivation of plants on the vertical surfaces of a building or other structures. These vertical gardens can be affixed to external walls, interior walls, or freestanding buildings, creating a vibrant, living coating. To facilitate the growth of various plant species, green facades typically incorporate a framework or support system designed to hold the soil or growing medium.
Prime determinants of growth
The global green facade market is experiencing growth due to the rise in urbanization and industrialization and growth in awareness regarding environmental sustainability. However, high installation cost of green facades restrains the market growth to some extent. Nevertheless, government initiatives for energy efficient buildings is estimated to provide remunerative growth opportunities in the upcoming years.
Covid-19 Scenario
Due to the COVID-19 pandemic and the subsequent global lockdowns, the green facade market faced a downturn.
However, as the global situation started improving, the demand for green facades was restored back. This, in turn, presented various growth opportunities for companies operating in the green facade market.
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The flowers segment maintained its leadership status throughout the forecast period.
Based on vegetation type, the flowers segment held the highest market share in 2022, accounting for more than two-fifths of the global green facade market revenue and is estimated to maintain its leadership status throughout the forecast period, rise in demand for green building practices and sustainable design lead to increase in interest in flower green facades among developer, businesses, and homeowners. However, the shrubs segment is projected to manifest the highest CAGR of 8.0% from 2023 to 2032, Rise in concerns towards environmental sustainability and adoption of eco-friendly building materials propel the growth of the market.
The wall structure-based type segment maintains its leadership status throughout the forecast period.
Based on type, the wall structure-based segment held the highest market share in 2022, accounting for more than three-fourths of the global green facade market revenue and is estimated to maintain its leadership status throughout the forecast period, rise in adoption of wall structure-based green facades due to several advantages such as aesthetic looks to architect, developer, and property owner who are looking to enhance building and urban spaces, propel the growth of the market. However, Ground Based segment projected to manifest the highest CAGR of 8.5% from 2023 to 2032, owing to increase many governments and municipalities intensive for promoting green building practices and sustainable landscaping through regulation, incentive, and sustainability certification, encouraging the adoption of ground-based green facades.
The commercial segment to maintain its leadership status throughout the forecast period.
Based on application, the commercial segment held the highest market share in 2022, accounting for more than three-fifths of the global green facade market revenue and is estimated to maintain its leadership status throughout the forecast period, green facades are used to enhance the visual appeal of shopping malls and retail spaces. They create inviting and attractive entrances, improve the overall shopping experience, and even increase footfall. However, residential projected to manifest the highest CAGR of 8.1% from 2023 to 2032, Rise in use of green facades in residential sector due to their aesthetic appeal, environmental benefits, and the potential to enhance the quality of life for residents propel the growth of the market.
Asia-Pacific to maintain its dominance by 2032.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly half of the global green facade market revenue and is expected to rule the roost during forecast period. This is due to relatively easy environment guidelines and increase in disposable income of people across the region. However, LAMEA is expected to witness the fastest CAGR of 8.0% from 2022 to 2031, Owing to the increase in per capita income from developing regions such as Latin America.
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Leading Market Players: -
ELT India, Biotecture Ltd., Lang+Fulton, ANS Group Global Ltd., Green Roof Technology, GSky Plant System Inc., Green Fortune, LiveWall, LLC., Green Over Grey, Naava
The report provides a detailed analysis of these key players of the global green facade market. These players have adopted different strategies such as new product launches, business expansion, acquisition, collaboration, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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