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Buildings are responsible for 49 percent of global energy consumption and 47 percent of greenhouse gas emissions, says a new report by Pike Research, noting that the problem will get increasing focus in the decade, as total commercial and residential floor space will grow from 1.5 trillion square feet in 2010 to more than 1.9 trillion square feet by 2020.
“Construction of new buildings will experience dramatic growth during the next 10 years,” says research analyst Eric Bloom. “While the expansion of floor space within mature markets in North America and Western Europe will be relatively small, in the seven percent to eight percent range, the real story will be in urban centers of populous countries like China and India, where we anticipate building stock expansion of 61 percent and 51 percent, respectively, by 2020. This growth will be a major driver of surging energy demand.”
During the next decade, said Bloom, the fastest growing building category will be multi-unit housing, which will outpace the growth in single-family detached housing by a factor of 2.5 to 1. In commercial building markets, Pike Research forecasts that the biggest growth will come in retail space, followed by education and office buildings. Today, the residential building stock is about three times the size of the commercial building stock.
Pike Research’s report, “Global Building Stock Database”, provides data and forecasts on the size (both in terms of square meters and square feet) and growth of the global building stock from 2010 to 2020 as well as a qualitative analysis of key drivers and trends in the building stock. The database 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 more than 200 countries in seven regions worldwide. An Executive Summary of the report is available for free download on the firm’s website.