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IN THE NEWSNovember 15, 2021: ClimateAI to join the White House-backed ‘Agriculture Innovation Mission for Climate’. This initiative focuses on transformative climate action in the global agricultural sector.
October 22, 2021: Terrafuse AI launched a free public tool, Wildfire AI that can provide predictive modeling to track the wildfires.
Global Climate Resilient Technologies Market Highlights over 2022 – 2031
The global climate resilient technologies market is estimated to grow at a notable CAGR over the forecast period, i.e., 2022 – 2031. Climate resilience is the property of the climate to prepare for, recover from, and adapt to the impacts of human activities on the environment. Climate resilient technologies assist the climate to anticipate and recover, and minimizes the impact of daily human activities on the environment. The growth of the market can be attributed to the growing climatic concerns and environmental awareness amongst the people. Moreover, increasing focus on reducing energy consumption, transitioning vehicles to alternative fuels, and installing solar panels are estimated to boost the market growth. Further, the increase in carbon emissions across the world, is anticipated to boost the market growth. According to the data by the World Bank, 4.478 metric tons per capita carbon emissions were recorded in 2018 globally. Additionally, the adoption of climate resilient technology can help in improving access and utilization of energy, which is also expected to boost the market growth.
The market is segmented by end-user into agriculture, transportation, energy & utilities, healthcare, and others, out of which, the agriculture segment is anticipated to hold a substantial share in the global climate resilient technologies market over the forecast period on account of rising adoption of climate-resilient agriculture (CRA). CRA includes sustainably using existing natural resources with help of technologies to achieve long-term higher productivity. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
Global Climate Resilient Technologies Market Regional Synopsis
On the basis of geographical analysis, 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. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing climate awareness amongst the countries, such as, China, India, Japan, and others. In fact, the per capita carbon emission has witnessed a significant dip in Japan. As per the report by the World Bank, the per capita carbon emission of Japan was recorded 8.724 metric tons in 2018, down from 9.892 metric tons in 2013.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing environment awareness amongst the people, along with the presence of major market players in the region.
The global climate resilient technologies market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global climate resilient technologies market includes the following segments:
By Enterprise Size
By End-User
Growth Drivers
Challenges
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The growing environment awareness amongst people is estimated to boost the market growth.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022 – 2031.
The major players in the market are Alfa Laval AB, Cummins Power Generation Inc., LG Chem Ltd., Compagnie de Saint-Gobain S.A., Gro Intelligence, Inc., NCX Inc., TerraFuse, Inc., Climate AI, and Climavision Operating LLC.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by enterprise size, end-user, and by region.
The agriculture segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Higher investment needed for climate resilient technology is estimated to hamper the market growth.
The Asia Pacific region is anticipated to provide more business opportunities over the forecast period owing to the growing climate concerns in the region.
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