Research Nester assesses the growth of global climate resilient technologies market which is anticipated to be on account of the growing demand for these solutions from the end-user industries such as agriculture, healthcare, and automotive.
New York – March 16, 2023 - Research Nester’s recent market research analysis on “Climate Resilient Technologies Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global climate resilient technologies market in terms of market segmentation by solution, enterprise size, application, and by region.
Rising carbon emission to cater to the demand for climate resilient technologies
All major industries, including the automotive, agricultural, healthcare, and many others, are seeing increased demand for stronger and more effective climate-resilient technology and goods as a result of the rise in carbon dioxide emissions. Using carbon capture technologies and switching to renewable energy sources are other ways to reduce or stop the rise in CO2 emissions. Massive disasters such as the current wildfire outbreak in Australia brought on by heatwaves and flash floods in Indonesia can be made more likely by rising carbon emissions. For instance, the chance of drought in the Horn of Africa region has increased owing to increasing sea temperatures brought on by climate change.
Furthermore, there has been a surge in demand for carbon credits around the world. More than one-third of the biggest publicly traded firms in the world as of November 2022 have declared net-zero ambitions. Some businesses plan to utilize the carbon credits they buy in combination with steps to offset emissions that are difficult to ultimately reduce their emissions' carbon footprint. The voluntary market had exceeded $1 billion in 2021, and by 2030, 1.5 to 2 gigatons of voluntary credits are expected to be demanded globally.
Some of the major growth factors and challenges that are associated with the growth of the global climate resilient technologies market are:
- Increasing carbon emissions across the globe
- Growing demand for climate resilient technologies in the agriculture sector
However, the high cost of climate resilient technologies, and the scarcity of awareness about climate resiliency are some of the major factors predicted to hinder the market growth in the coming years. There is a need for high investment in training and development associated with the new technologies. In addition, the infrastructure cost is also required in order to adapt to climate change for the filling of the infrastructure gap, and it is anticipated to restrain the growth of the global climate resilient technologies market.
The global climate resilient technologies market is segmented by solution into resilience solutions and services. The resilience solutions segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2035. Several resilience strategies are now being developed by many industries in order to lessen negative environmental effects, which is expected to drive the growth of the segment during the forecast period. For instance, natural infrastructure can defend against a range of climate change concerns like coastal flooding, riverine flooding, extreme heat in urban areas, and drought while simultaneously producing co-benefits such as species habitat and recreational activities. Furthermore, climate change will have a big impact on cities. For instance, according to the findings, if considerable investments are not made in making cities more resilient around the world, natural disasters may force more than 70 million urban dwellers into poverty by the end of 2030.
By region, the global climate resilient technologies market is segmented into five major regions including, North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in the Asia Pacific region is anticipated to garner the largest revenue of USD 468751 Million by the end of 2035. This can be attributed to the rapidly growing agriculture sector in the region. Furthermore, in order to increase productivity, climate-resistant technology has been rapidly adopted in agriculture. As a result, it is anticipated to foster the expansion of the market in the region. For instance, the agricultural industry had a strong growth in investments, with a total FDI inflow of USD 2,600.70 million between April 2000 and June 2022, according to the India Brand Equity Foundation. In addition, the growth rate for agriculture and related activities in the FY 2021–22 was 3.9%.
This report also provides the existing competitive scenario of some of the key players of the global climate resilient technologies market which includes company profiling of 3M, TerraFuse, Inc., ClimateAi, inc., Climavision, Challenergy Inc., Arup Group Limited, Kingspan Group, Saint-Gobain Group, Gro Intelligence, Inc., Nephila Capital Ltd., and others.