APAC Green Buildings Market Size (2024 - 2029)

APAC Green Buildings Market Analysis

The APAC Green Buildings Market size is estimated at USD 136.90 billion in 2024, and is expected to reach USD 273.5 billion by 2029, growing at a CAGR of 12.23% during the forecast period (2024-2029).

• The Asia-Pacific region is home to 60% of the world's 4.3 billion inhabitants, with over 2 billion living in cities. The region is home to 16 out of the 28 world's largest cities (10 million or more people in each city), and the urban population is projected to grow to 3.3 billion by 2050.
• With the growing population, there is a demand for new buildings. Developing low and net zero carbon (NCC) buildings is key to improving people's quality of life, reducing environmental impact, and increasing economic opportunities. Green Building Councils are responding to the challenges and opportunities they face on the ground across the Asia-Pacific Region (APR).
• In most South and Southeast Asian countries, there are mandatory energy efficiency and environmental rating schemes in addition to voluntary schemes. For example, in India, the Energy Conservation Building Code of 2017 and in Sri Lanka, the Energy Building Code of 2020 set energy efficiency and renewable energy use standards.
• Both aim to accelerate the transition to green, energy-efficient buildings. In some cases, the two mechanisms work together to leverage each other's capabilities and resources to increase the multiplier effect in the construction sector. The current certification systems include the GRIHA certification in India, the Green Mark certification in Singapore, and the Greenship certification in Indonesia.
• The sector has evolved significantly since the first set of standards. The latest set of mandatory and optional building standards is putting pressure on the industry to accelerate the transition to net-zero. Net-Zero buildings in South & Southeast Asia include the Indira Paryavaran Bhawan Office building in New Delhi, India Bayalpata Hospital in Nepal, Nepal nzeb@sede campus building in Singapore Uni Kl British Malaysia Institute in Malaysia net zero buildings in South and Southeast Asia.

APAC Green Buildings Industry Segmentation

The green building market is for buildings designed, built, and operated sustainably. This includes buildings with energy efficiency, renewable energy, water efficiency, waste reduction, and indoor environmental quality.

The APAC green buildings market is segmented by product (exterior products, interior products, others (building systems, solar systems, etc.)), by end user (residential, office, retail, institutional, other end users), by geography (China, Japan, India, Australia, South Korea, and the Rest of APAC). The report offers market size and forecasts for the APAC green buildings market in value (USD) for all the above segments.