On November 23, Pike Research released a report detailing the state of the market for energy efficient buildings, as well as related services and equipment. According to the market research and consulting firm's data, the total global market for green housing and energy efficient buildings is expected to exceed $100 billion annually by 2017.
If this increase were to happen as expected, it would mark a more than 50 percent increase from the industry's current market value, which is just under $68 billion, according to the company. Overall, energy service companies represented the largest growth segment in the market. Revenues in this sector are expected to exceed $66 billion by 2017.
Driving this growth will also be the sale of related energy efficient products, such as heating, ventilation and air conditioning equipment and lighting upgrades, especially in the commercial sector. Still, despite the overall growth, individuals who are looking to make an impact by getting into business in the green building field may want to take a closer look at the data.
"The structure of energy-efficient building markets varies considerably from one country or region to another," research analyst Eric Bloom noted in a statement.
Due to this fact, Bloom suggests that service providers need to remain up-to-date on the changing dynamics in their chosen markets in order to truly benefit from the growth. As a result, those considering green jobs may want to take a closer look at certifications that can allow them to attain lucrative careers or investment opportunities in this burgeoning economic sector.
Even those who don't want to enter an exciting new career can draw conclusions from the study. For example, homeowners who want their real estate to be more appealing may want to make upgrades that can help them increase their energy use in the short-term, and the resale value of their investment long-term.