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Report Description

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 179.52 Billion

Market Size (2029)

USD 342.29 Billion

CAGR (2024-2029)

11.19%

Fastest Growing Segment

Residential Buildings

Largest Market

Germany

Market Overview

Europe Green Building Market was valued at USD 179.52 Billion in 2023 and is expected to reach USD 342.29 Billion by 2029 with a CAGR of 11.19% during the forecast period.

The Europe Green Building Market refers to the development and construction of environmentally sustainable buildings that prioritize energy efficiency, the use of renewable resources, and the reduction of environmental impacts. Green buildings are designed to minimize carbon emissions, optimize energy use, and promote healthier living environments through sustainable construction practices, eco-friendly materials, and innovative technologies like energy-efficient HVAC systems, solar panels, and water conservation mechanisms. This market is gaining momentum as governments and regulatory bodies in Europe enforce stringent building codes and energy-efficiency standards to achieve climate targets, such as those outlined in the European Union’s Green Deal and Paris Agreement. In addition, the growing public awareness of environmental issues and the desire for sustainable living are driving demand for green building projects, particularly in residential and commercial sectors. Businesses are increasingly adopting green construction practices to improve their corporate social responsibility (CSR) credentials and reduce operational costs through energy savings. The market will continue to rise as technological advancements in building materials and design, including smart energy systems and eco-friendly insulation, make green buildings more accessible and affordable. Moreover, government incentives and financial support, such as tax breaks and subsidies for energy-efficient construction, are further encouraging investment in the sector. As urbanization accelerates across Europe, especially in cities prioritizing sustainability, the demand for green buildings will increase, driven by the need for modern, environmentally friendly infrastructure. Furthermore, investors and real estate developers are recognizing that green buildings command higher property values and rental yields, making them an attractive investment opportunity. This combination of regulatory support, technological innovation, consumer demand, and financial benefits is expected to propel the growth of the Europe Green Building Market in the coming years, with significant expansion in both new construction and the retrofitting of existing structures to meet sustainability standards.

Key Market Drivers

Stringent Government Regulations and Policies Supporting Sustainability

One of the key drivers of the Europe Green Building Market is the increasingly stringent government regulations and policies focused on sustainability and environmental protection. European Union countries have committed to ambitious climate goals, as outlined in frameworks such as the European Green Deal and the Paris Agreement. These frameworks emphasize a transition to a low-carbon, resource-efficient economy. In order to meet these goals, governments are enforcing stricter energy efficiency standards and building codes for both new and existing constructions.

The European Green Deal aims to make Europe climate-neutral by 2050, a target that requires significant changes across multiple industries, particularly in the construction sector. National governments and regional authorities across Europe are introducing specific legislation aimed at reducing energy consumption and carbon emissions in buildings. For example, the Energy Performance of Buildings Directive (EPBD) mandates that all new buildings in the European Union must be nearly zero-energy buildings by the end of 2020. This directive also requires regular upgrades and renovations to the existing building stock to improve energy efficiency.

These government measures are driving market growth as property developers, real estate investors, and construction firms strive to comply with the new regulations. The penalties for non-compliance can be significant, both in financial and reputational terms. Therefore, businesses are increasingly adopting green building practices to avoid these risks while also benefiting from the positive economic incentives provided by governments. For example, many European Union countries offer financial incentives such as tax breaks, subsidies, and grants for green building projects. These incentives make green construction more attractive and feasible, further fueling the growth of the Europe Green Building Market.

Additionally, regulatory bodies are pushing for increased transparency and accountability in reporting environmental impact, with many countries requiring builders to disclose their carbon footprint and energy performance data. The enforcement of these policies will continue to drive market growth as businesses and consumers increasingly turn to green buildings as a solution for reducing environmental impact and meeting regulatory requirements.

Increasing Environmental Awareness and Consumer Demand for Sustainable Living

Another significant driver of the Europe Green Building Market is the rising level of environmental awareness among consumers and businesses. With growing concerns about climate change, resource depletion, and pollution, individuals and organizations are more focused than ever on reducing their environmental footprint. Green buildings are seen as an essential solution in this context, as they are designed to minimize energy consumption, reduce water usage, and lower carbon emissions while improving indoor air quality and comfort for occupants.

Consumers, especially in residential markets, are becoming more selective when purchasing or renting properties. They are increasingly prioritizing homes that align with their environmental values, which include energy-efficient homes, homes made from sustainable materials, and homes that minimize waste production. The demand for sustainable living spaces has encouraged developers to incorporate green technologies and designs into their projects. In turn, this has led to a surge in the construction of energy-efficient homes that utilize renewable energy sources, such as solar power, and incorporate water-saving technologies like rainwater harvesting systems.

In addition to residential consumers, businesses are also adopting green building practices to enhance their corporate social responsibility (CSR) profiles and meet the growing demand for sustainable office spaces. The demand for green offices is particularly strong in major European cities, where companies are keen to attract environmentally conscious employees and clients. By investing in green buildings, businesses can reduce their operational costs through energy savings and benefit from the positive brand image associated with environmental sustainability.

Furthermore, the financial advantages of green buildings are increasingly recognized. Properties that incorporate energy-efficient technologies tend to have lower utility costs, which makes them more attractive to potential buyers and tenants. The resale value of green properties is also higher compared to traditional buildings. As awareness of these benefits spreads, consumer demand for green buildings is expected to grow further, driving expansion in the Europe Green Building Market.

Advancements in Green Building Technologies and Materials

The Europe Green Building Market is also being propelled by rapid advancements in green building technologies and materials. In recent years, the development of innovative construction techniques and eco-friendly materials has made green building practices more cost-effective and accessible. These advancements are helping to overcome some of the barriers that previously limited the adoption of green building initiatives, such as high upfront costs and technical complexity.

One of the key areas of technological advancement is in energy-efficient building systems, such as smart heating, ventilation, and air conditioning (HVAC) systems that optimize energy usage based on real-time data. These systems are increasingly being integrated into green buildings to reduce energy consumption and lower utility costs. Similarly, advances in renewable energy technologies, such as photovoltaic solar panels and wind turbines, are enabling buildings to generate clean, renewable energy on-site. This not only reduces reliance on fossil fuels but also provides property owners with a sustainable energy source that can result in long-term cost savings.

The use of innovative materials is another critical factor driving market growth. Sustainable materials such as cross-laminated timber (CLT), recycled steel, and eco-friendly insulation are gaining popularity in the construction industry. These materials not only reduce the environmental impact of construction but also offer superior performance in terms of durability, thermal efficiency, and fire resistance. Additionally, the development of advanced green building materials, such as low-carbon concrete, is helping to lower the overall carbon footprint of construction projects.

The rise of digital technologies, such as Building Information Modeling (BIM), is also contributing to the growth of the Europe Green Building Market. BIM allows architects, engineers, and construction professionals to design, model, and simulate energy-efficient buildings with greater precision and accuracy. This technology enables the identification of potential energy inefficiencies early in the design process, leading to better-optimized buildings. As these technologies continue to evolve, the Europe Green Building Market is expected to expand further, driven by the growing adoption of cutting-edge, eco-friendly construction methods and materials.

 

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Key Market Challenges

High Initial Investment and Construction Costs

One of the major challenges facing the Europe Green Building Market is the high initial investment and construction costs associated with sustainable building practices. Green buildings often require advanced materials, energy-efficient technologies, and renewable energy systems, all of which can significantly increase the upfront costs of construction. For example, incorporating renewable energy technologies such as solar panels, geothermal systems, or wind turbines involves high capital expenditure. Additionally, sustainable materials like recycled steel, cross-laminated timber, and low-carbon concrete tend to be more expensive than traditional construction materials.

The cost of labor can also be higher for green building projects due to the need for specialized skills and expertise. Architects, engineers, and contractors involved in the construction of green buildings must be well-versed in energy-efficient design principles, building information modeling (BIM), and sustainable construction methods, which often results in higher fees compared to traditional construction projects. Moreover, the installation and integration of green technologies such as smart HVAC systems, energy-efficient lighting, and water-saving devices require advanced technical skills that can further drive up labor costs.

For many developers and property owners, these high upfront costs represent a significant barrier to entry into the green building market. While the long-term operational savings associated with energy-efficient buildings can offset these initial costs, the longer payback period may deter some investors, particularly those focused on short-term returns. Furthermore, in regions where financial incentives for green construction are limited or not well-publicized, the burden of high construction costs can be even more pronounced. This challenge is particularly acute for small and medium-sized enterprises (SMEs) that may lack the financial resources or access to credit needed to invest in green building projects. As a result, while the Europe Green Building Market is growing, the high initial investment required continues to be a significant obstacle for many stakeholders.

 

Complexity of Compliance with Diverse and Evolving Regulations

Another significant challenge in the Europe Green Building Market is the complexity of complying with the diverse and ever-evolving regulatory landscape. While government regulations supporting sustainability are driving market growth, the sheer number and complexity of these regulations can pose difficulties for developers, construction companies, and property owners. European Union-wide directives such as the Energy Performance of Buildings Directive (EPBD) and national building codes set stringent requirements for energy efficiency, water conservation, and the reduction of carbon emissions. However, these regulations can vary significantly from country to country, and even from region to region, making it difficult for businesses to ensure compliance across multiple markets.

For instance, in countries like Germany, the energy standards for green buildings are particularly strict, with detailed requirements for thermal insulation, renewable energy integration, and energy performance monitoring. In contrast, other European Union member states may have less stringent regulations, creating an uneven playing field for developers and construction firms operating in different markets. Navigating this patchwork of regulations requires significant expertise and resources, including legal and technical advice, which can add to the overall cost and complexity of green building projects.

Moreover, regulations in the green building sector are continually evolving as governments introduce new policies to meet climate goals and respond to technological advancements. Keeping up with these changes can be challenging for businesses, particularly small and medium-sized enterprises that may not have the capacity to dedicate resources to regulatory compliance. Failure to comply with the latest regulations can result in fines, project delays, and reputational damage, further deterring investment in the green building market. Additionally, as sustainability reporting and carbon accounting requirements become more stringent, businesses must invest in new tools and processes to accurately measure and report their environmental impact, adding yet another layer of complexity to green building projects.

 

Key Market Trends

Increasing Adoption of Smart Building Technologies

A prominent trend in the Europe Green Building Market is the increasing adoption of smart building technologies. As sustainability becomes a central focus of construction and building management, the integration of advanced technologies is helping optimize energy use, improve resource efficiency, and reduce the environmental footprint of buildings. Smart systems, such as automated heating, ventilation, and air conditioning (HVAC) controls, energy-efficient lighting, and real-time energy monitoring tools, are being widely adopted across green buildings to enhance operational performance.

The use of the Internet of Things (IoT) in green buildings is transforming the way energy consumption is managed. For example, IoT-enabled sensors can monitor energy use in real-time, automatically adjusting lighting and temperature settings based on occupancy patterns, thereby reducing energy waste. Similarly, building management systems (BMS) integrated with renewable energy sources, such as solar panels or geothermal systems, allow for seamless optimization of energy production and usage. This not only lowers energy costs but also significantly contributes to achieving net-zero energy goals, which are becoming increasingly important in the context of stricter European Union energy efficiency directives.

As these technologies continue to advance, their adoption in green buildings will further accelerate, driven by the need for more intelligent, resource-efficient structures. This trend also reflects the broader shift toward digital transformation in the construction industry, where smart solutions are becoming key enablers of sustainable practices.

 

Rising Demand for Energy-Efficient Retrofitting of Existing Buildings

Another significant trend in the Europe Green Building Market is the rising demand for energy-efficient retrofitting of existing buildings. Given that a large proportion of Europe’s building stock is aging and was constructed before the advent of modern sustainability standards, retrofitting offers a cost-effective way to improve energy efficiency, reduce carbon emissions, and extend the lifespan of buildings. Retrofitting involves upgrading insulation, installing energy-efficient windows and doors, and integrating renewable energy systems into existing structures, which can lead to substantial energy savings.

The European Union’s policy framework, particularly the European Green Deal, places significant emphasis on improving the energy performance of buildings. As a result, governments across Europe are introducing financial incentives and regulatory measures to encourage retrofitting projects. For instance, in countries such as France and Germany, tax rebates and grants are available to property owners who undertake energy-efficient upgrades. These policies are driving a surge in retrofitting activities, particularly in commercial and residential buildings, where energy consumption tends to be highest.

With the demand for sustainable development increasing, retrofitting is becoming a critical strategy for reducing energy consumption and emissions in Europe’s built environment. As retrofitting practices continue to evolve and new technologies emerge, the trend is expected to play a key role in the long-term growth of the green building market.

 

Growth of Green Building Certification Systems

The growth of green building certification systems is another key trend shaping the Europe Green Building Market. Certification programs such as Leadership in Energy and Environmental Design (LEED), Building Research Establishment Environmental Assessment Method (BREEAM), and the German Sustainable Building Council (DGNB) are gaining widespread recognition for their role in promoting sustainable building practices. These systems provide a structured framework for evaluating the environmental performance of buildings, offering a standardized way to measure aspects such as energy efficiency, water conservation, and indoor environmental quality.

Green building certification has become increasingly popular among property developers, investors, and tenants who are looking for ways to demonstrate their commitment to sustainability. Certified buildings are often seen as more valuable assets, as they not only deliver operational savings through reduced energy and water consumption but also enhance the building's marketability. In the commercial real estate sector, companies are choosing certified green buildings to align with their environmental, social, and governance (ESG) goals, thus driving demand for such structures.

As awareness of climate change and environmental responsibility continues to grow, certification systems are expected to play an even more important role in guiding sustainable construction practices. The increasing adoption of these certifications reflects a broader trend toward transparency and accountability in the building sector, positioning green buildings as a central component of Europe’s sustainable development agenda.

Segmental Insights

Product Type Insights

In 2023, the exterior products segment dominated the Europe Green Building Market and is expected to maintain its dominance during the forecast period. This can be attributed to the increasing demand for sustainable construction materials that enhance the energy efficiency and environmental performance of building exteriors. Exterior products, such as energy-efficient windows, advanced insulation materials, and sustainable roofing systems, play a crucial role in reducing energy consumption and minimizing carbon emissions. With growing regulatory pressure from the European Union’s Energy Performance of Buildings Directive, builders and developers are increasingly focusing on the integration of high-performance exterior solutions to meet stringent energy efficiency standards. Additionally, the adoption of green facades, solar panels, and smart shading systems has become more widespread, further boosting the demand for exterior products. The rising interest in passive design principles, which rely on optimized building orientation, natural lighting, and thermal insulation, also drives the focus on exterior products as key components of green building projects. Furthermore, government incentives and policies promoting energy-efficient buildings are encouraging property owners to invest in retrofitting and upgrading the external features of existing structures, further solidifying the dominance of this segment. As awareness of climate change and the need for sustainable infrastructure continues to grow, the demand for environmentally friendly exterior products is projected to remain robust throughout the forecast period, positioning this segment as a key driver in the ongoing development of the Europe Green Building Market.

 

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Country Insights

In 2023, Germany dominated the Europe Green Building Market and is expected to maintain its dominance during the forecast period. Germany’s leadership in this market is driven by its strong regulatory framework, government incentives, and widespread adoption of sustainable building practices. The country has been a pioneer in implementing rigorous energy efficiency standards, such as the Energy Performance of Buildings Directive, and it has an extensive network of financial incentives to promote green building initiatives. Programs like the German Energy Agency's KfW funding scheme offer substantial subsidies and low-interest loans for energy-efficient construction and renovation, encouraging widespread participation in sustainable development projects.

Germany’s focus on energy-efficient construction materials, renewable energy integration, and green technologies has further solidified its position as a leader in the green building market. The country’s commitment to achieving climate neutrality by 2045 has accelerated the adoption of green building practices, particularly in commercial and residential real estate sectors. Moreover, Germany’s well-established infrastructure for green building certification systems, such as the German Sustainable Building Council (DGNB), has enhanced the market’s growth by promoting sustainability in construction.

The country’s large-scale retrofitting projects aimed at upgrading its aging building stock have also contributed to its dominance in the green building sector. As Germany continues to prioritize sustainability in its urban development plans and environmental policies, it is expected to remain the leading market in the region. The combination of regulatory support, financial incentives, and strong market demand positions Germany to maintain its leadership in the Europe Green Building Market throughout the forecast period.

Recent Developments

  • In October 2024, Swiss construction company Holcim Ltd. is reportedly exploring the possibility of a dual listing for its North American division in both the US and Switzerland, according to sources familiar with the matter. Earlier in January, the company announced plans to spin off its North American operations into a separately listed entity on the US stock exchange, a move that could value the new business at over USD 30 billion. While a dual listing is one of the options under consideration, no final decision has been reached, said the sources, who requested anonymity due to the confidential nature of the discussions.
  • In April 2024, VINCI completed an investment of approximately USD 54 million in NatPower SA, a renewable energy development platform established in 2019, with operations primarily in Italy, the United Kingdom, and the United States. This investment includes the acquisition of 10% of the company’s share capital from its founder, Fabrizio Zago, and the Tyrus Capital fund. Additionally, the deal includes convertible bonds that would allow VINCI to increase its stake and potentially exercise an option to take control of NatPower SA.

Key Market Players

  • Skanska UK Plc
  • Compagnie de Saint-Gobain. 
  • Kingspan Holdings (Ireland) Limited
  • VINCI SA
  • Balfour Beatty plc
  • Bouygues (U.K.) Limited.
  • HOCHTIEF Aktiengesellschaft.
  • Strabag SE
  • CRH plc
  • Holcim Ltd.

By Product Type

By Application

By End-User Industry

By Country

  • Exterior Products
  • Interior Products
  • Residential Buildings
  • Commercial Buildings
  • Industrial Buildings
  • New Constructions
  • Renovations
  • Germany
  • Italy
  • France
  • Spain
  • Netherlands
  • Belgium
  • United Kingdom
  • Rest of Europe

Report Scope:

In this report, the Europe Green Building Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Europe Green Building Market, By Product Type:

o   Exterior Products

o   Interior Products

  •  Europe Green Building Market, By Application:

o   Residential Buildings

o   Commercial Buildings

o   Industrial Buildings

  • Europe Green Building Market, By End-user Industry:

o   New Constructions

o   Renovations

  • Europe Green Building Market, By Country:

o   Germany

o   Italy

o   France

o   Spain

o   Netherlands

o   Belgium

o   United Kingdom

o   Rest of Europe

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Europe Green Building Market.

Available Customizations:

Europe Green Building Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Europe Green Building Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.  Markets Covered

1.2.2.  Years Considered for Study

1.2.3.  Key Market Segmentations

2.    Research Methodology

2.1.  Baseline Methodology

2.2.  Key Industry Partners

2.3.  Major Association and Secondary Sources

2.4.  Forecasting Methodology

2.5.  Data Triangulation & Validation

2.6.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customer

5.    Russia Ukraine War Impact

6.    Europe Green Building Market Outlook

6.1.  Market Size & Forecast

6.1.1.  By Value

6.2.  Market Share & Forecast

6.2.1.  By Product Type (Exterior Products, Interior Products)

6.2.2.  By Application (Residential Buildings, Commercial Buildings, Industrial Buildings)

6.2.3.  By End-user Industry (New Constructions, Renovations)

6.2.4.  By Country (Germany, Italy, France, Spain, Netherlands, Belgium, United Kingdom, Rest of Europe)

6.3.  By Company (2023)

6.4.  Market Map

7.    Germany Green Building Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.  By Product Type

7.2.2.  By Application

7.2.3.  By End-user Industry

8.    Italy Green Building Market Outlook

8.1.  Market Size & Forecast

8.1.1.  By Value

8.2.  Market Share & Forecast

8.2.1.  By Product Type

8.2.2.  By Application

8.2.3.  By End-user Industry

9.    France Green Building Market Outlook

9.1.  Market Size & Forecast

9.1.1.  By Value

9.2.  Market Share & Forecast

9.2.1.  By Product Type

9.2.2.  By Application

9.2.3.  By End-user Industry

10. Spain Green Building Market Outlook

10.1.   Market Size & Forecast

10.1.1.   By Value

10.2.   Market Share & Forecast

10.2.1.   By Product Type

10.2.2.   By Application

10.2.3.   By End-user Industry

11. Netherlands Green Building Market Outlook

11.1.   Market Size & Forecast

11.1.1.   By Value

11.2.   Market Share & Forecast

11.2.1.   By Product Type

11.2.2.   By Application

11.2.3.   By End-user Industry

12. Belgium Green Building Market Outlook

12.1.   Market Size & Forecast

12.1.1.   By Value

12.2.   Market Share & Forecast

12.2.1.   By Product Type

12.2.2.   By Application

12.2.3.   By End-user Industry

13. United Kingdom Green Building Market Outlook

13.1.   Market Size & Forecast

13.1.1.   By Value

13.2.   Market Share & Forecast

13.2.1.   By Product Type

13.2.2.   By Application

13.2.3.   By End-user Industry

14. Market Dynamics

14.1.   Drivers

14.2.   Challenges

15. Market Trends and Developments

16. Europe Economic Profile

17. Company Profiles

17.1.   Skanska UK Plc.

17.1.1.   Business Overview

17.1.2.   Key Revenue and Financials  

17.1.3.   Recent Developments

17.1.4.   Key Personnel

17.1.5.   Key Product/Services Offered

17.2.   Compagnie de Saint-Gobain.

17.2.1.   Business Overview

17.2.2.   Key Revenue and Financials  

17.2.3.   Recent Developments

17.2.4.   Key Personnel

17.2.5.   Key Product/Services Offered

17.3.   Kingspan Holdings (Ireland) Limited

17.3.1.   Business Overview

17.3.2.   Key Revenue and Financials  

17.3.3.   Recent Developments

17.3.4.   Key Personnel

17.3.5.   Key Product/Services Offered

17.4.   VINCI SA

17.4.1.   Business Overview

17.4.2.   Key Revenue and Financials  

17.4.3.   Recent Developments

17.4.4.   Key Personnel

17.4.5.   Key Product/Services Offered

17.5.   Balfour Beatty plc

17.5.1.   Business Overview

17.5.2.   Key Revenue and Financials  

17.5.3.   Recent Developments

17.5.4.   Key Personnel

17.5.5.   Key Product/Services Offered

17.6.   Bouygues (U.K.) Limited.

17.6.1.   Business Overview

17.6.2.   Key Revenue and Financials  

17.6.3.   Recent Developments

17.6.4.   Key Personnel

17.6.5.   Key Product/Services Offered

17.7.   HOCHTIEF Aktiengesellschaft.

17.7.1.   Business Overview

17.7.2.   Key Revenue and Financials  

17.7.3.   Recent Developments

17.7.4.   Key Personnel

17.7.5.   Key Product/Services Offered

17.8.   Strabag SE

17.8.1.   Business Overview

17.8.2.   Key Revenue and Financials  

17.8.3.   Recent Developments

17.8.4.   Key Personnel

17.8.5.   Key Product/Services Offered

17.9.   CRH plc

17.9.1.   Business Overview

17.9.2.   Key Revenue and Financials  

17.9.3.   Recent Developments

17.9.4.   Key Personnel

17.9.5.   Key Product/Services Offered

17.10.Holcim Ltd.

17.10.1.   Business Overview

17.10.2.   Key Revenue and Financials  

17.10.3.   Recent Developments

17.10.4.   Key Personnel

17.10.5.   Key Product/Services Offered

18. Strategic Recommendations

19. About Us & Disclaimer

Figures and Tables

Frequently asked questions

Frequently asked questions

The market size of the Europe Green Building market was USD 179.52 Billion in 2023

The fastest growing segment in the Europe Green Building Market, by application, was the residential buildings segment. This growth is driven by increasing consumer demand for energy-efficient homes and supportive government policies promoting sustainable residential construction.

The challenges in the Europe Green Building Market include high initial investment costs and the complexity of compliance with diverse and evolving regulations. Additionally, there is a limited availability of skilled workforce and technical expertise, which hampers the growth of sustainable construction practices

The major drivers for the Europe Green Building Market include stringent government regulations and policies aimed at enhancing energy efficiency and sustainability. Additionally, increasing awareness of climate change and the growing demand for sustainable building materials and technologies are fueling market growth.

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