According to a recent report issued by McGraw-Hill Construction, green building currently accounts for approximately 5% to 8% percent of the retrofit and renovation market. This represents a $2 billion to $4 billion marketplace for major projects.
The report further states that by 2014, this share will grow to 20% to 30%, making it a $10 billion to $15 billion market. Furthermore, researchers say indicators suggest higher levels of activity long-term for retrofits and renovations overall, reaching a tipping point in about 10 to 15 years.
McGraw-Hall says 70% of owners who have engaged in green retrofit or renovation activities are planning to continue for over 15% of future projects and 24% will do so on over 60 % of projects.