Firms in sub-Saharan Africa are rapidly adopting green building, and as this trend becomes increasingly pervasive, it has the potential to help spur future industry growth throughout the region, reports US construction market analysis company McGraw-Hill Construction.
Office and residential property markets will lead the green building sector’s growth in this region and, even in a sluggish market, these trends indicate that green building will represent an important area for market growth in the future, according to McGraw-Hill’s ‘Global Green Building Trends: Market Growth and Perspectives from Around the World’ report.
About 700 respondents from 45 countries participated in the survey, and 59% of sub-Saharan African respondents indicated that firms were building green on at least 16% of their projects. This is expected to grow to 93% by 2013, up from 16% in 2003, while, by 2013, about 44% of sub-Saharan firms are expected to be dedicated to green on at least 60% of their projects.
Meanwhile, 49% of sub-Saharan respondents expect rapid sales and profit growth from green, while 51% indicated that the top business reason for supporting green building was that “it is the right thing to do”, with 47% saying that the social drive behind it was to support the domestic economy and 74% of respondents indicating that a challenge for green building was higher first costs.
McGraw-Hill Construction industry analytics, alliances and strategic initiatives vice-president Harvey Bernstein tells Engineering News that green building is becoming a global movement.
“Firms around the world are awakening to the positive business, and the environmental and societal impacts of green building, and there is a growing need for market intelligence about global and regional trends. The level and nature of market activity vary by region, but, overall, we are seeing widespread growth as green becomes increasingly visible throughout the global marketplace,” says Bernstein.
“It’s important to recognise that buildings and infrastructure globally contribute 40% of the greenhouse-gas emissions that are forcing climate change,” says World Green Building Council (WGBC) executive director Andrew Bowerbank.
“This is more than what the transportation or manufacturing sectors contribute. It is critical now that industry leaders recognise current environmental opportunities in the marketplace and begin to collaborate to demonstrate effective solutions,” adds Bowerbank.
The report, which was produced in partnership with the WGBC, indicates that, by 2013, 53% of firms worldwide expect to be largely dedicated to green building on more than 60% of their projects, compared with the current 30%. The fastest-growing regional green build- ing market is Asia, where the number of firms largely dedicated to green building is expected to increase from the current 36%, to 73%, in 2013.