Pune,India, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The Green Technology and Sustainability market Size is expected to grow from USD 13.76 billion in 2022 to USD 51.09 billion by 2029, exhibiting a CAGR of 20.6% during the forecast period, 2022-2029 This vital information is presented by Fortune Business Insights™, in its report, titled, “Green Technology and Sustainability Market Forecast, 2023-2029.” As per The global green technology and sustainability market size was valued at USD 11.49 billion by 2021.
Green technology and sustainability are services and solutions deployed across carbon footprint management, water pollution monitoring, air pollution monitoring, crop monitoring, and green buildings. The rising carbon footprint across the globe is expected to enhance the demand for solutions. Furthermore, rising government focus on developing a decarbonized economy may fuel the industry progress in the coming years.
Key Industry Development
General Electric declared that it shall supply renewable energy to approximately 42 Onshore Wind turbines to develop Clean Max Wind Hybrid Projects in India. This renewable energy is anticipated to be of totaling around 110MW.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 20.6% |
| 2029 Value Projection | USD 51.09 Billion |
| Base Year | 2021 |
| Green Technology and Sustainability Market Size in 2021 | USD 11.49 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 160 |
| Segments covered | Component, Industry, Region |
Key Takeaways-
- Green Technology and Sustainability Market is expected to flourish & reach USD 51.09 Billion in 2029
- The government aims to mobilize additional investments from state and local governments and the private sector to reach more than $5 trillion.
- High initial deployment costs may limit the adoption of green technologies and sustainability solutions among businesses.
- Green building technology has become one of the major trends within the construction sector.
- Green Technology and Sustainability Market Size in North America was USD 4.19 Billion 2021
Drivers & Restraints-
- The market for green technology and sustainability is expected to experience significant growth due to the increasing adoption of green data centers and cloud services for pollution monitoring.
- This, coupled with the growing industrial and consumer interest in sustainability, may lead to more investment in green technology. Moreover, rising greenhouse gas emissions and government initiatives for achieving zero emissions may further drive market growth.
- However, the high costs associated with implementing these services may act as a barrier to market progress.
Regional Insights-
The North American market is expected to dominate the green technology and sustainability market share due to the presence of a diverse range of green technologies, with the market reaching USD 4.19 billion in 2021 and expected to grow further in the future. Major market players have plans to expand their businesses worldwide, which may lead to industry growth. Meanwhile, in Europe, increasing government initiatives to demonstrate low carbon technologies and support for grid solutions, carbon capture and storage, and energy storage may enhance green technology and sustainability sales. The rapid transition toward a renewable energy future in India, Japan, Taiwan, China, and South Korea is expected to boost industry growth in the Asia Pacific region, further propelling the progress of the green technology and sustainability industry.
List of Key Players Mentioned in the Report-
- General Electric Company (U.S.)
- Enablon (Wolters Kluwer) (Europe)
- Salesforce.com, Inc. (U.S.)
- Microsoft Corporation (U.S.)
- Schneider Electric (France)
- Engie Impact (U.S.)
- Sensus (U.S.)
- Enviance (U.S.)
- Intelex Technologies Inc. (Canada)
- CropX Inc. (California)
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Major Table of Contents-
- Global Green Technology and Sustainability Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Solutions
- Services
- By Industry (USD)
- Air and Water Pollution Monitoring
- Carbon Footprint Management
- Crop Monitoring
- Fire Detection
- Forest Monitoring
- Green Building
- Soil Condition/Moisture Monitoring
- Sustainable Mining and Exploration
- Water Management
- Weather Monitoring and Forecasting
- Other
- By Region (USD)
- North America
- Europe
- Middle East & Africa
- Asia Pacific
- South America
- North America Green Technology and Sustainability Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Solutions
- Services
- By Industry (USD)
- Air and Water Pollution Monitoring
- Carbon Footprint Management
- Crop Monitoring
- Fire Detection
- Forest Monitoring
- Green Building
- Soil Condition/Moisture Monitoring
- Sustainable Mining and Exploration
- Water Management
- Weather Monitoring and Forecasting
- Other
- By Country (USD)
- United States
- Canada
- Mexico
- Europe Green Technology and Sustainability Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Component (USD)
- Solutions
- Services
- By Industry (USD)
- Air and Water Pollution Monitoring
- Carbon Footprint Management
- Crop Monitoring
- Fire Detection
- Forest Monitoring
- Green Building
- Soil Condition/Moisture Monitoring
- Sustainable Mining and Exploration
- Water Management
- Weather Monitoring and Forecasting
- Other
- By Country (USD)
- United Kingdom
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
TOC Continued…!
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FAQ:
How big is the Green Technology and Sustainability Market?
The market is projected to grow from USD 13.76 billion in 2022 to USD 51.09 billion by 2029, exhibiting a CAGR of 20.6% during the forecast period. How big is Green Technology and
Green Technology and Sustainability Market Sustainability Market in North America?
The market in North America stood at USD 4.19 Billion in 2021 and is expected to gain a huge portion of the market share in the coming years.
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