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Global Building Stock Will Expand 25 Percent by 2021, Driven by Growth in Asia Pacific, Forecasts Pike Research
By: Business Wire
Dec. 28, 2012 05:00 AM
A clear understanding of the extent and the qualities of the global building stock will be a key element in the effort to increase the overall energy efficiency of dwellings, businesses, and the cities in which they are located. This information will grow increasingly valuable as governments, businesses, and building owners focus more intently on the energy consumption of buildings worldwide. According to a recent report from Pike Research, a part of Navigant’s Energy Practice, the world’s collective building stock, both residential and commercial, will expand by 25 percent from 2012 to 2021, growing from 1.6 trillion square feet (SF), or 145 billion square meters (SM), to just under 2 trillion SF, or 182.5 billion SM, during that period. Much of this growth will occur in the Asia Pacific region, where the total building stock will grow by 47 percent over that timeframe.
“Commercial and residential buildings are responsible for 49 percent of the world’s energy consumption and 47 percent of global greenhouse gas emissions,” says senior research analyst Eric Bloom. “Much of this energy is consumed in an inefficient manner, and can be reduced through cost-effective measures. Such measures will be particularly critical in rapidly growing economies like China, where residential buildings will grow by 60 percent in the next decade, reaching more than 600 billion square feet by 2021.”
Of the 145 billion SM of total building stock in 2011, 75 percent was in residential buildings. On a global basis, both the commercial and residential segments will experience similar rates of growth in the next 10 years, according to the report. In some countries, such as the United States, the residential building stock will actually contract over time due to increased levels of urbanization and demographic shifts. By 2021, the study concludes, the total area of single-family homes in the United States will have decreased by nearly 4 billion SF.
The report, “Global Building Stock Database,” provides data and forecasts on the size and growth of the global building stock from 2011 to 2021 as well as a qualitative description of key drivers and trends in the building stock. The data covers eight commercial building types (office, retail, education, healthcare, hotels and restaurants, institutional/assembly, warehouse, and transport) and two residential building types (single-family detached and multi-unit residential) for seven regions worldwide. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant’s global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
*The information contained in this press release concerning the report, “Global Building Stock Database,” is a summary and reflects Pike Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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