Green building outlook strong despite soft economy

The U.S. green building market continues to accelerate, according to McGraw-Hill Construction‘s 2013 green construction outlook report. Green building has grown from $10 billion in 2005 to $78 billion in 2011. In 2012, the total market for non-residential and residential green buildings is expected to be worth $85 billion.

By 2013, that figure is projected to rise to between $98 billion and $106 billion. By 2016, this number is expected to reach $204 billion to $248 billion.

Green building is expected to represent 44 percent of all commercial and institutional construction in 2012, growing up to 55 percent by 2016.

Residential green construction is also on the rise. McGraw-Hill Construction expects green homes to comprise 20 percent of the market by the end of this year. In 2013, a 22 to 25 percent share by value is expected, equating to a $34 to $38 billion opportunity.