As more and more sustainable construction options come to bear, the global market sector will grow to $571 billion in annual sales by 2013. That’s up from $455 billion last year, according to a recent report from NextGen Research.
Cement, insulation and green wood materials are expected to be the top performing subsectors of sustainable construction, which as a whole is expected to grow at 5 percent annually. Commercial office buildings will lead the charge, according to the report.
More and more manufacturers are gearing up for the market.
GE’s Hybrid Electric Water Heater (pictured), which will be produced at a plant in Louisville, Ky., has been designed to provide hot water in typical quantities that users demand but to use only about half the energy of conventional water heaters.
The water heaters are being made for commercial and residential uses, according to GE. The heaters employ technology that is designed to absorb heat in ambient air and transfer it into the water.
Despite the growth in the sustainable construction sector, there may not yet be evidence to support the notion that a construction company specializing in green or sustainable construction may be having better business results. According to Iain Audus, a senior consultant for Bureau Veritas corporate responsibility services, the numbers just don’t bear out the argument – at least not yet.
However, the fact that more and more construction projects are stipulating sustainable features means that construction companies need to be involved in the market, Audus writes at Construction News.