Portland, OR, March 18, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global green roof industry generated $1.45 billion in 2019, and is projected to reach $4.19 billion by 2027, growing at a CAGR of 15.6% from 2020 to 2027. The report offers an in-depth market analysis, emerging market trends, and key strategies.
Rise in awareness regarding green roof systems, increase in the greenhouse effect, and growth in the residential construction sector augment the growth of the global green roof market. On the other hand, presence of substitutes and unfavorable climate conditions restrain the market growth. Nevertheless, tax benefits offered by the government to private industries to install green roofs are anticipated ot present lucrative opportunities for the market players in the approaching time.
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- The outbreak of Covid-19 pandemic led to the shutdown of the manufacturing activities of green roof systems during the initial phase.
- The pause in international trade, ceased construction projects, and disruption in the supply chain further impacted the green roof market.
- Nevertheless, various regions have now entered recovering phases, as the government bodies have eased off the regulations to maintain economic benefits. With this the market is anticipated to recoup soon.
The report analyzes the market based on…