Buildings in both the U.S. and Canada account for a major portion of each country's total resource consumption, while releasing substantial quantum of carbon dioxide into the atmosphere.
To reduce resource dependency and carbon footprint, the building industry attempts to reduce energy and operating costs while trying to enhance asset value over time. The market trend reflects a direct correlation to the burgeoning importance of green buildings in North America. Nearly all vertical segments within the green building products and services market offer environmentally sustainable alternatives today with positive end-user interest and account for a sizeable portion of the market.
"A significant challenge for market participants is the cost hurdle that frequently dampens end-user interest," says Frost & Sullivan Research Analyst Konkana Khaund. "However, as the level of competitiveness increases with more options surfacing in the market, price is expected to experience downward pressure, eventually allowing for their better market penetration."
New research from Frost & Sullivan (buildingtechnologies.frost.com), LEED and Beyond: Evolving Trends in Green & Intelligent Buildings in North America, finds that market earned revenues of over $12 billion in 2007 and estimates to reach $42.6 billion in 2015.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of LEED Standards and Evolving Trends in Green and Intelligent Buildings in North America, then send an email to Johanna Haynes, Corporate Communications, at jhaynes_pr[.]frost.com. Include your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
Half of the total energy consumed in the U.S. is by commercial, institutional or industrial buildings, and any increase in energy price is set to have a dramatic effect on the operating cost of these sectors. As such, new building projects must consider ways to lower bills through the efficient use of water, heat and electricity. This is where the adoption of LEED standards for environmentally sustainable design and performance, developed by the U.S. Green Building Council (USGBC), can help.
One obstacle to LEED adoption, however, is the high cost of certification, which can include data collection, administrative and commissioning costs. Expenses can reach up to $60,000; a prohibitive amount for many small- to medium-sized projects. Added to this, is the number of different rating systems within LEED itself.
In addition, differing outlooks on climate change and energy supply does confuse market perceptions and lead to the idea that green buildings are a fashion, not a confirmed market poised for significant expansion. To counter this, industry awareness of the benefits of high-performance green buildings is critical.
The maturity attained by the North American construction industry makes it imperative for participants to explore ways of adding valuable differentiators to their projects. "By adopting LEED, builders and designers have an opportunity to prove themselves as leaders and innovators in an industry now focusing intently on environmental, social and financial responsibility," observes Khaund.
LEED and Beyond: Evolving Trends in Green & Intelligent Buildings in North America is part of the Building Management Technologies Growth Partnership Service program, which also includes research in the following: North American Energy Recovery Ventilation Markets, North American Building Automation Systems Market, North American Markets for Integration of Building Security Systems with BAS, North American Zone Control Systems Markets, and European Green Buildings Markets,. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.
LEED and Beyond: Evolving Trends in Green & Intelligent Buildings in North America N321