Green Building Report Shows Growth of the Industry

A report from McGraw-Hill Construction (MHC) concludes the green building market will reach $10-$20 billion over the next five years.

According to the report, Green building accounted for 2% of nonresidential construction starts in 2004, valued at $3.3 billion, and projects it to grow to 5-10% of this sector by 2010, valued at $10-20 billion.

Over 70% of a representative sample of architects, engineers, contractors, and building owners anticipate sales growth from green building. 60% of this group are are specifying green building products now.

The report notes that pperating costs of green buildings are expected to be 8-9 lower than in conventional buildings, and have increased value by 7.5%.

The report is part of MHC’s effort to take a leadership position in the green building movement. The group is launching a green construction website, “GreenSource” at www.greensource.construction.com, offers custom green building research, and plans to launch a green building publication in 2006.

In conjunction with trade association US Green Building Council (USGBC), MHC has organized a pilot workshop at a top university to identify ways to introduce green building into the curriculum. “Green building is a tremendous growth area in design, construction, and building products, and McGraw-Hill Construction is dedicated to take an active role in fostering its development in terms of editorial coverage, information services, and working closely with key industry groups,” said Norbert W. Young, president of McGraw-Hill Construction. “Across the industry spectrum – – property owners, contractors, architects, engineers and building product manufacturers — green building has gained momentum due to the rise in energy costs and the cost of basic materials. We are filling the information void by creating the resources to bring all the parties together and help accelerate environmentally responsible building throughout the world.”