Green Building Market in India 2024-2028

Green Building Market in India 2024-2028

Market insights:In India, the green building market is experiencing a surge driven by several key insights. First and foremost, the Indian government has been actively promoting sustainability through initiatives like the Green Rating for Integrated Habitat Assessment (GRIHA) and the Leadership in Energy and Environmental Design (LEED) certification. These initiatives, along with supportive policies and incentives, are encouraging developers to adopt eco-friendly construction practices. The green building market in India is expected to reach ~INR 7,110.87 Bn by 2028, expanding at a CAGR of ~21.11% during the 2023 – 2028 forecast period.

Moreover, India's rapid urbanization and growing population are fueling demand for sustainable infrastructure, including green buildings, to mitigate environmental impacts and address resource constraints. Despite these positive trends, challenges such as upfront costs and lack of awareness remain barriers to widespread adoption. However, with ongoing government support, evolving consumer preferences, and continuous innovation, the green building market in India is poised for sustained growth, offering immense opportunities for developers, investors, and stakeholders alike.

Growth opportunities and recent trends:

The green building market is experiencing significant growth opportunities driven by various recent trends. Moreover, the increasing emphasis on carbon footprint reduction and energy conservation is driving the adoption of green building practices across residential, commercial, and industrial sectors. Additionally, the integration of sustainability criteria into building codes and certification standards is further accelerating market expansion. With growing investor interest in environmentally responsible projects and the potential for long-term cost savings, the green building market is poised for continued growth and innovation in the coming years.

Market influencers:

The green building market is significantly influenced by various factors that shape its growth and trajectory. Major market influencers in this domain include government regulations and policies promoting sustainability, such as energy efficiency standards and green building certifications. Technological advancements in materials and construction techniques also play a crucial role, driving innovation and cost-effectiveness in green building practices. Additionally, increasing awareness and concern about environmental issues among consumers and businesses are driving demand for eco-friendly buildings.

Economic factors, such as incentives for green investments and the cost savings associated with energy-efficient buildings, further bolster market growth. Moreover, the emergence of sustainable building rating systems and corporate sustainability goals are pushing developers and investors towards greener building practices. Overall, a combination of regulatory, technological, societal, economic, and corporate influences drives the green building market towards continued expansion and adoption worldwide.