Green Building Market to Reach $10-$20 Billion in

New York, November 10, 2005--McGraw-Hill Construction (MHC) today released a report indicating the environmentally responsible "green building" market will reach $10-$20 billion over the next five years. The report was released at the U.S. Green Building Council (USGBC) Greenbuild conference in Atlanta. The analysis, Green Building SmartMarket Report, is part of a larger effort by MHC to take a leadership position in the green building movement. This includes: * Launch of a new online green construction resource center, "GreenSource" at www.greensource.construction.com. * The integration of the USGBC's LEED (Leadership in Energy and Environmental Design) registered projects into MHC's proprietary Network project data. * Custom green building research through MHC's architect panel and research group. * Designation of building products that have been labeled as "green" in MHC's new Network for products, which will launch in 2006. * Continual reporting of green building related stories in its premiere publications--Architectural Record and Engineering News-Record. * Launch of a new publication focused on green building design and construction in 2006. * In conjunction with USGBC, MHC has organized a pilot workshop at one of the nation's top universities to identify ways to introduce green building into the college and university curriculum. * Established green custom publishing capabilities. "Green building is a tremendous growth area in design, construction, and building products, and McGraw-Hill Construction is dedicated to take an active role in fostering its development in terms of editorial coverage, information services, and working closely with key industry groups," said Norbert W. Young, president of McGraw-Hill Construction. "Across the industry spectrum--property owners, contractors, architects, engineers and building product manufacturers--green building has gained momentum due to the rise in energy costs and the cost of basic materials. We are filling the information void by creating the resources to bring all the parties together and help accelerate environmentally responsible building throughout the world." In addition to serving industry professionals, consumers will find benefits in the new GreenSource website in terms of products and services. And, the launch of a new publication in 2006 will also give consumers and industry professionals unbiased guidance on designing and constructing environmentally responsible buildings. The research findings presented in MHC's new Green Building SmartMarket Report show: * Green building comprises approximately 2% of nonresidential construction starts in 2004, valued at $3.3 billion. * By 2010, the green building market is expected to be 5%-10% of nonresidential construction starts (excluding nonbuilding construction), valued from $10billion - $20billion. * Over 70% of a representative sample of architects, engineers, contractors, and building owners anticipate sales growth from green building. * 60% of architects, engineers and contractors are specifying and installing green building products in their construction projects. * Operating costs of green buildings expected to be between 8% and 9% lower than other buildings; green buildings expected to have increased values of 7.5%.

Print the Article