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The growth in green construction has created a shift in perception among owners and the architectural and engineering communities. Construction industry stakeholders have embraced the green movement and sustainable design for its energy savings, worker productivity increases and positive public perception, the FMI report states.
In 2008, the three largest segments for nonresidential construction green building - office, education and healthcare - will account for more than 80 percent of total nonresidential green construction. Other segments such as lodging and commercial are also experiencing green construction growth, with a 20 percent gain expected from 2007 to 2008.
Three major trends are pushing green building to the forefront of the construction industry’s consciousness: 1) an unprecedented level of government initiatives; 2) heightened residential demand for green construction; and 3) improvements in sustainable materials.
According to the Overview, the National Association of Home Builders Green Building Conference in April 2007 revealed that green building and remodeling is experiencing a level of demand that exceeds the current supply of qualified firms.
As the demand grows for green products and materials, the cost is mitigated. Today, many manufacturers are making green products, which leads to more competition and better pricing. In addition, distribution outlets for green materials are improving.
“Green building will continue to grow,” said Rick Dutmer, consulting group manager for FMI. “It is not a question of whether your firm should invest in understanding the green sustainable trend and how to produce sustainable projects, it’s how much should you invest and how fast. Developing a strategy now to assess the capabilities of your firm, and create actions to take advantage of the sustainable opportunities is fundamental.”
For more information about FMI’s 2008 U.S. Construction Overview, contact Candace Robertson at FMI Corp., 919/785-9359, email@example.com.