A study on forecasting green infrastructure construction market

Abstract

Green growth has recently recognized as one of the main solutions for minimizing unpleasant environmental aspects of the construction industry. Leading by some of the developed countries, such as United States of America, outstanding changes to the construction practices have been made to change the industry more environment-friendly. This study tries to analyze the impacts of this green effort to the infrastructure market and to forecast future trends in terms of the market values. Market forecasting was performed targeting to three different regions, United States of America, Korea, and global construction market. Carbon trading, renewable energy as well as green building markets are analyzed since they have great impacts on the infrastructure construction in terms of going green. The forecasting results revealed that the green infrastructure market would rapidly grow in the next decade and consequently lead changes to the industry business practices. Lacking of market forecasting data could hamper the industry to less actively respond to greening movements. This study is intended to solve this problem and is one of the first attempts to quantify the impacts of green growth on the Korean infrastructure construction market.