The global green building market is forecasted to increase by a CAGR of 10.26% from 2018 to 2023. The factor contributing to this is a mounting pressure on countries to reduce their carbon footprints.
Office buildings consume 30% of the world’s energy. Distributed energy system will be used in both existing and new buildings to increase energy efficiency and to lower energy costs. Further, The World Green Building Council is running an initiative that has a goal to develop 100% net-zero carbon buildings by 2050.
However, the patent filing trends in green building in the US have been declining continuously since 2011. One reason for it could be high R&D cost of green building material because of which the players in construction industry are trying to first make use of available solution than to go ahead with new R&D.
