The modular construction and prefabricated materials market is predicted to balloon in value to $108 billion by 2025, driven by a lack of skilled labor and an increase in cost-cutting technology.
General contractors and owners are also leaning more towards prefabricated methods of construction because it provides flexibility in the structure design.
Unlike traditional materials and building sites where waste goes directly to a landfill, prefabricated materials are recyclable. Demountable partitions allow offices to enhance daylight and insulation for improved energy efficiencies, while reducing the volatile organic compounds (VOC) and air quality concerns associated with traditional drywall and finishing.
New York is breaking new ground with a comprehensive plan to make buildings across the state fully carbon-neutral.
A big part of the plan is retrofitting the millions of existing buildings in the state that were built before there was an energy code in effect. Among the programs to achieve this goal is RetrofitNY, a plan to deliver comprehensive deep energy retrofits to existing buildings that has been in development for more than four years.
As several other states work on exemplifying climate action on a state level, we expect to see others adopting a similar plan.
President Biden’s push for a net-zero building portfolio under EO 14057, will put increased focus on zero emissions technology.
Efficient, zero carbon buildings take advantage of available, cost-effective technology to reduce emissions while increasing health, equity and economic prosperity in local communities.
The most commonly used renewable energy technologies are on-site PV panels, solar water heaters, and off-site renewable energy systems, like solar power plants, hydropower plants, and wind turbines. We don’t only anticipate demand to increase – we also predict new technologies will make their way into the market.
Smart cities leverage data to optimize energy consumption and manage resources, so it’s no surprise that regenerative buildings are integral to their blueprints for water, waste, and energy management.
The Worldwide Smart Cities Industry is Expected to Exceed $2.5 Trillion by 2026.
Within the U.S., Congresses’ $1 trillion bipartisan infrastructure bill aims to create more sustainable, equitable cities.
Priorities within the bill include:
Big tech companies like IBM, Microsoft and Cisco, are also investing in smart cities. Despite initial investments required for smart cities, they’ve been proven to positively influence the economy, improve quality of life among residents, and benefit the environment over the long term. Austin, TX, Boston, MA, Boulder, CO, San Jose, CA, and New York City, NY are some of the notable smart cities within the U.S. and we’re expecting to see more cities pursuing sustainable building.
The Covid-19 pandemic has changed America’s downtowns, leaving commercial buildings empty.
As of late October of 2021, only 28 percent of Manhattan office workers had returned to their desks, with only 8 percent in office for five days a week. With 80 percent of employers planning to permanently change their remote work policies, empty commercial buildings are ripe for conversion to residential housing.