The good news is that the sustainable building industry is growing exponentially. In fact, so much so that industry research firm, IBISWorld, took notice and has added a report on the Green & Sustainable Building Construction industry to its Commercial & Institutional Buildings report. They reported there are many factors driving this growth including an upturn in total building construction as the space recovers from the real estate market collapse. In addition, more building project owners are concerned about the environment and interested in energy efficient products and sustainable materials to reduce costs. There are tax incentive programs and governmental guidelines also driving the interest in this sector.

“Many types of construction projects and activities will drive demand for green building construction, as property owners, developers and regulators increasingly emphasize environmental protection, energy conservation and cost savings,” says IBISWorld analyst, Kathleen Ripley.

In addition, according to Jerry Yudelson’s recent article, “Green building will continue to benefit from the Obama administration’s strengthened focus on greening the executive branch, with its commitment to a minimum of LEED Gold for all federal projects and focus on major energy-efficiency renovations.”

The IBISWorld report calls attention to Turner Construction’s, a GreenWizard user, prominent presence in the sustainable building construction. The report indicates that despite booming demand, profit margins have contracted slightly as operators increasingly compete for projects on price.

Highlights of the report based upon PRWire’s summary on green and sustainable building:
• Revenue increased from 2006 – 2011 at an average annual rate of 26.9% to $87.1 billion
• Revenue increased 13.3% increase in 2011 alone
• Revenue forecasted to increase at an average annual rate of 23% to $245.4 billion by 2016
• Revenue forecasted to increase at an average annual rate of 18.3% in 2012

More information on the report from PRWire
For more information, including latest trends, statistics, analysis and market share information, download the full report from IBISWorld on the Green & Sustainable Building Industry