North America Green Buildings Market Size (2024 - 2029)

North America Green Buildings Market Analysis

The North America Green Buildings Market size is estimated at USD 206.5 billion in 2024, and is expected to reach USD 341.20 billion by 2029, growing at a CAGR of 10.57% during the forecast period (2024-2029).

Federal, state, and local environmental regulations in the United States and Canada incentivize green building practices. Building codes, energy efficiency standards, and emissions regulations promote sustainable construction and renovation projects.

Certification programs such as LEED (Leadership in Energy and Environmental Design), formed by the US Green Building Council (USGBC) and Green Globes, provide benchmarks and standards for sustainable building design, construction, and operation. These programs encourage adopting green building practices and offer recognition for environmentally responsible projects.

Advancements in green building technologies, including energy-efficient HVAC systems, smart building automation, renewable energy solutions (such as solar panels and wind turbines), and sustainable materials (such as recycled content and low-emission products), enhance building performance and sustainability.

Financial incentives such as grants, rebates, tax credits, and low-interest loans encourage investment in green building projects. Governments, utilities, and financial institutions offer these incentives to promote energy efficiency, renewable energy adoption, and sustainability.

Many governments provide tax credits for various green building initiatives. For instance, the U.S. federal government offers the Investment Tax Credit (ITC) for solar energy systems, allowing businesses and homeowners to deduct a particular portion of installing solar panels from their taxes. Specifically, as per the Inflation Reduction Act implemented by Congress in 2022, the ITC is 30% of the solar system cost until 2033 and will gradually reduce until it expires in 2035.

Similarly, some states offer tax credits for energy-efficient building upgrades, such as installing insulation, energy-efficient windows, or HVAC systems.

North America Green Buildings Industry Segmentation

Green buildings refer to structures designed, built, operated, and maintained in an environmentally responsible and resource-efficient manner throughout their lifecycle. These buildings aim to reduce their environmental impact while providing occupants with a healthy and comfortable space. Green building practices often involve incorporating renewable energy sources like solar panels, implementing efficient heating and air conditioning (HVAC) systems, maximizing natural light and ventilation, and utilizing water recycling and waste management technologies. A complete background analysis of the Brazilian commercial real estate market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact, is covered in the report.

The North American green buildings market is segmented by product (exterior products, interior products, and other products (building systems, solar systems, etc.)), end user (residential, office, retail, institutional, and other end users), and geography (United States, Canada, and Rest of North America). The report offers market size and forecasts for all the above segments in value (USD).