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According to the report, green nonresidential construction put in place totaled $13.4 billion in 2006, and by 2008 $21.2 billion of all new nonresidential construction will employ the use of green building principles. The growth in green construction has created a shift in perception among owners and the architectural and engineering communities.
“Construction industry stakeholders have embraced the green movement and sustainable design for its energy savings, worker productivity increases, and positive public perception,” stated the report.
In 2008, the three largest segments for nonresidential construction green building (offices, education, and health care) will account for more than 80 percent of total nonresidential green construction. Other segments such as lodging and commercial are also experiencing green construction growth, with a 20 percent gain expected from 2007 to 2008.
The three major trends pushing green building to the forefront of the construction industry’s consciousness include government initiatives, heightened residential demand for green construction, and improvements in sustainable materials.
“Green building will continue to grow. It is not a question of whether your firm should invest in understanding the green sustainable trend and how to produce sustainable projects, it’s how much should you invest and how fast,” said Rick Dutmer, consulting group manager for FMI. “Developing a strategy now to assess the capabilities of your firm, and create actions to take advantage of the sustainable opportunities is fundamental.”
For more information, visit www.fminet.com.
Publication date: 02/04/2008