Research and Markets has announced the addition of Frost & Sullivan's new report "South African Market for Green Buildings" to their offering.
This research was conducted on the South African market for green buildings in order to identify those factors currently affecting its growth and development. Three of the nine categories for green building practices, as defined by the Green Building Council of South Africa, were analysed, namely energy management, water management and building materials management. Although a strict market definition was employed, participants in the broader market are also taken into consideration. Market dynamics such as challenges, drivers and restraints were identified and their relative impacts on the market were forecasted for the period 2010 to 2016.
This research service titled South African Market for Green Buildings provides a strategic overview of the total green buildings market in South Africa. It presents current trends in green building practices and the ways in which built environment professionals can take advantage of opportunities that are expected to arise within the market. In this research, Frost & Sullivan's expert analysts thoroughly examine the following market sectors: energy, water and building materials.
Green Awareness Rising in the South African Market for Green Buildings
The global built environment consumes considerable energy, water and natural resources, while producing copious greenhouse gases and waste. This has prompted builders to design and implement green building practices, which has provided a huge boost to the international green building markets over the last decade. Despite the lower lifecycle costs and reduced environmental impact, the South African market for green buildings faces several teething problems. These include a common misconception of the costs involved in green design and construction, as well as an overload of green information. These challenges are not likely to hold the market back for long as consumers environmental awareness and interest are rapidly increasing.
In addition, both corporate tenants and residential homeowners are demanding green initiatives in the design, construction and operation of buildings. Additionally, companies seeking to enhance their corporate social responsibility and market differentiation find that green buildings provide a unique avenue to meet the expectations of their socially aware stakeholders.
As South Africa emits comparatively low levels of greenhouse gases, companies in this region are not as concerned with climate change as they are with catering to the demands and expectations of their shareholders, stakeholders and clients. Many multinational companies operating in South Africa are headquartered in countries where green building is a necessity and are thus mandated by their executive boards to operate within green buildings, stimulating demand for green facilities in South Africa. A measure of green building market awareness is gauged by the number of companies applying to a green building council for membership, says the analyst of this research.
The Green Building Council of South Africa has experienced a membership growth rate of over 100 per cent per annum, since it opened for membership in May 2008, and is expected to grow for the next few years as the market develops. The councils targeted marketing campaigns and annual symposiums aim to educate consumers within the built environment, particularly corporate tenants. This fosters demand for the local supply of green products and services, which together, will drive the market.
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Energy management
- Water management
- Materials management