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Green Technology and Sustainability Market Trends

Report ID: GMI6743
Published Date: Sep 2023
Report Format: PDF

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Green Technology and Sustainability Market Trends

The adoption of solar, wind, and hydropower for clean energy generation is an emerging trend in the green technology and sustainability industry. As concerns over climate change intensify, there is a growing shift toward renewable energy sources that produce minimal greenhouse gas emissions. Advancements in technology have made these sources more cost-effective and accessible, attracting both businesses & governments that are aiming to reduce their carbon footprint and promote sustainable energy solutions.

The increasing popularity of Electric Vehicles (EVs) and the expansion of EV charging infrastructure are emerging trends in the green technology and sustainability market. With rising concerns about air pollution and climate change, there is a growing demand for eco-friendly transportation. This has led to the development of more affordable and efficient EVs. Simultaneously, governments and private entities are heavily investing in EV charging infrastructure to alleviate range anxiety and promote EV adoption. This trend aligns with the broader goal of reducing carbon emissions and fostering sustainable mobility solutions.

For instance, in September 2023, Tata launched the new Nexon EV with an innovative digital design. This Electric Vehicle (EV) contributes to the green technology and sustainability market by offering an eco-friendly & technology-driven transportation option, reducing emissions and promoting sustainable mobility.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of green technology and sustainability reached USD 14.3 billion in 2022 and is set to register over 19.5% CAGR from 2023 to 2032, due to the growing awareness of corporate social responsibility (CSR) initiatives worldwide.

The solution component segment held 67% of the market share in 2022, on account of the increasing demand for sustainable solutions with heightened efficiency and affordability.

North America market accounted for 36% of the market share in 2022, owing to the strong emphasis on environmental responsibility with many government policies & regulations promoting clean energy and sustainable practices in the region.

Schneider Electric, Salesforce, Inc., Microsoft, Enablon (Wolters Kluwer N.V.), Engie Impact, Sensus, CropX, and Taranis are some of the major green technology and sustainability companies worldwide.