Farmington, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The Global Green Technology Market Is Expected To Grow From USD 65 Billion In 2022 To 2030, at a CAGR Of 7.5%. Green technology is the use of technology to protect natural resources and reduce pollution in the environment. These kinds of technologies are made to help solve problems with the environment. Renewable energy sources like solar, wind, and hydroelectric power are examples of green technologies. So are clean technologies like hybrid cars and fuel cells. Green technology also includes things like double-glazed windows and thermal insulation that save energy. This market is expected to grow because more people are learning about climate change and how it affects human health, more people want products and services that use less energy, and more people are worried about pollution in the environment.
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Recent Developments:
- In January 2020, GE Hitachi Nuclear Power and Terra Power collaborated to design and build a VTR for the US Department of Energy. The collaboration brings together a strong team of engineers and scientists with extensive experience in sodium reactor technology.
- In September 2019, Salesforce released Sustainability Cloud, a carbon accounting product for enterprises. Salesforce's Sustainability Cloud enables businesses to quickly track, analyze, and report reliable environmental data to help them reduce carbon emissions.
Regional Outlook:
Over the next few years, the Asia-Pacific green technology market is expected to grow a lot. This is because more people are becoming aware of energy conservation and sustainable development. In 2019, the region's share of revenue was more than 35%, and it is expected to continue to be the most important during the forecast period. This could be because the population is growing, people are moving to cities quickly, the economy is growing, or the weather is changing.
In the Asia-Pacific region, there have been more hurricanes and floods, which have knocked out power in several countries, including China, India, Japan, and Australia, over the past few years. Also, because of these natural disasters, governments around the world have made policies to encourage the use of renewable energy sources to make electricity. This will increase the demand for green technologies in the region by a lot over the next eight years, from 2020 to 2030.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 7.5 % from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 65 Billion |
| By Type | HVAC Products, Water Solutions, Other |
| By Application | Non-Residential, Residential, Other |
| By Companies | GE, Siemens, Spruce Finance, Vivint Solar, Eco-$mart, Aqualogic, Trane, JA Solar Holdings, Solar Spectrum, RUUD |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Growth Factors:
- Getting more people to understand the benefits of green technologies: More and more people are becoming aware of the benefits of using green technologies. This is making more people want to buy products with green technologies.
- People are becoming more worried about climate change and how it will affect the environment. This makes people want to buy things that help cut down on greenhouse gas emissions and save energy.
- Government programmes to encourage the use of green technologies: Governments all over the world have programmes like tax breaks, subsidies, and grants to encourage the use of green technologies. This helps make more people want to buy these and other products.
Key Segments Covered:
Top Market Players:
GE, Siemens, Spruce Finance, Vivint Solar, Eco-$mart, Aqualogic, Trane, JA Solar Holdings, Solar Spectrum, RUUD, and others.
By Type
- HVAC Products
- Water Solutions
- Other
By Application
- Non-Residential
- Residential
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
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