Study: Green Roofing Vegetation Market to Grow 11% Annually Through 2023
CLEVELAND — A new study projects the green (vegetative) roofing market will increase 11 percent annually through 2023, bolstered in large part by incentives offered throughout parts of the U.S.
“Green (Vegetative) Roofing” is the name of the study from The Freedonia Group, a Cleveland-based industry research firm.
Through 2023, demand in the U.S. for complete green (vegetative) roofing systems is forecast to increase 11 percent per year to $278 million (16.9 million square feet).
The most significant advances are projected for cities that have adopted legislation mandating green roof installations and/or that offer related incentives (such as green infrastructure funding or credits for stormwater treatment fees).
According to the company, additional market drivers include the aesthetic and recreational benefits of green space amenities, urban heat island effect mitigation, improved building energy efficiency, and the contribution to improved air quality and biodiversity.
“The majority of green roofs will continue to feature extensive systems, as these assemblies are able to meet stormwater retention standards, LEED requirements, and other green building codes at a significantly lower cost than intensive systems,” the company says on its website.
“Nonetheless, higher-cost intensive vegetative roofs will continue to see significant use in large, highly congested cities where green spaces are scarce. The installation of rooftop gardens in these major metropolitan areas improves the ability of building owners in competitive real estate markets to attract tenants and to charge higher rental fees.”
One example of a new green roof is Philadelphia's Museum of the American Revolution, which earned the contractor recognition through the Asphalt Roofing Manufacturers Association's annual Quality Asphalt Roofing Case-Study (QARC) Awards program. Another example is the Suffolk County Community College in New York.
Freedonia reports that of the four U.S. regions in its study, the south is expected to remain the leading green roof market, bolstered by the relatively large number of installations each year in south Atlantic cities such as Washington, D.C., Atlanta, Baltimore, and Miami.
Green roofing suppliers in these areas benefit from significant government support for vegetative roofing, as well as from warm climates that support investments to improve energy efficiency. Other key metropolitan markets are in the middle Atlantic (New York), Pacific (San Francisco, Portland), and east north central (Chicago) subregions.
While each U.S. region will continue to see green roof demand rise rapidly from a small base, the fastest market growth is anticipated in the west, supported by mandates for vegetative roofing passed in San Francisco and Portland. (A recent mandate in Denver was revised to require cool roofs instead of costlier vegetative systems.)