The Business Research Company’s report on the Green Technology and Sustainability Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the green technology and sustainability industry?
The exponential rise in fuel prices and increasing pollution levels are expected to propel green technology and sustainability market growth going forward. The rise in fuel prices refers to the surge in gasoline prices in the international market. Pollution is caused by many human activities, including using fossil fuels by industry and transportation and using synthetic fertilizers and pesticides in agriculture. Due to such reason, there is an increase in demand for green technology and sustainability to harness natural energy using solar panels, wind turbines, dams, and geothermal wells, among other things. For instance, in July 2024, according to The Environmental Protection Agency, a US-based agency, in 2022, U.S. greenhouse gas emissions rose by 0.2% compared to 2021. The total emissions for 2022 amounted to 6,343.2 million metric tons of CO2 equivalent. Therefore, the exponential rise in fuel prices and growing pollution levels will drive the green technology and sustainability market.
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What is the estimated market size of the green technology and sustainability sector by 2029, based on current forecasts?
The green technology and sustainability market size has grown exponentially in recent years. It will grow from $18.81 billion in 2024 to $23.41 billion in 2025 at a compound annual growth rate (CAGR) of 24.4%. The growth in the historic period can be attributed to investment and funding, renewable energy expansion, corporate sustainability initiatives, waste management solutions, energy efficiency programs, urbanization, and sustainable infrastructure.
The green technology and sustainability market size is expected to see exponential growth in the next few years. It will grow to $55.06 billion in 2029 at a compound annual growth rate (CAGR) of 23.8%. The growth in the forecast period can be attributed to consumer demand for sustainability, energy efficiency improvements, circular economy adoption, corporate sustainability commitments, climate change concerns. Major trends in the forecast period include climate change mitigation, investment in R&D, corporate sustainability commitments, circular economy initiatives, urban sustainability.
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Who are the top players in the green technology and sustainability market?
Major companies operating in the green technology and sustainability market are General Electric Company, Intelex Technologies Inc., Microsoft Corporation, ConsenSys, Salesforce.com Inc., Schneider Electric SE, Trace Genomics, ENGIE Insight Services Inc., LO3 Energy, Enablon, MineSense Technologies Ltd., Enviance, IsoMetrix Software, Oracle Corporation, Tech Mahindra Ltd., International Business Machines Corporation, Sunnova Energy International Inc., SunPower Corporation, Siemens Gamesa Renewable Energy SA, SolarEdge Technologies Inc., Brookfield Renewable Partners LP, Autodesk Inc., Evoqua Water Technologies Corp., Bloom Energy Corporation, Burcon NutraScience, JinkoSolar Holding Co. Ltd., Johnson Controls International PLC, Suntech Power Co. Ltd., Hanwha Q CELLS Co. Ltd., Trina Solar Co. Ltd.
What are the major trends in the green technology and sustainability market?
Technological advancements and the adoption of innovative technologies are the key trends gaining popularity in the green technology and sustainability market. Many players are investing heavily in technical improvements to deliver sustainable solutions and lessen their reliance on fossil resources. For instance, in November 2022, ABB Ltd., a Switzerland-based electrification and automation company, launched ABB Ability OPTIMAX, an energy management system for green hydrogen. This management system will assist hydrogen manufacturing companies in reducing electricity-related expenditures by up to 20%. It incorporates forecasting and intra-day planning and ensures that businesses can trade competitively with the grid.
Which geography holds the highest green technology and sustainability market share?
North America was the largest region in the green technology and sustainability market share in 2024. The regions covered in the green technology and sustainability market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the green technology and sustainability market?
The green technology and sustainability market covered in this report is segmented –
1) By Component: Solution, Services
2) By Technology: Internet of things (IoT), AI And Analytics, Digital Twin, Cloud Computing, Security, Block-chain
3) By Application: Green Building, Carbon Footprint Management, Weather Monitoring And Forecasting, Air And Water Pollution Monitoring, Forest Monitoring, Crop Monitoring, Soil Condition And Moisture Monitoring, Water Purification, Other Applications
Subsegments:
1) By Solution: Energy Management Solutions, Water Management Solutions, Waste Management Solutions, Sustainable Agriculture Solutions
2) By Services: Consulting Services, Implementation Services, Maintenance And Support Services, Training And Education Services
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How is the green technology and sustainability market defined, and what are its core characteristics?
Green technology (GT) and sustainability is a term to define innovative ways to make environmentally friendly changes and as an alternative source of technology that reduces fossil fuels and its effect on the human, animal, and plant health. It is used to conserves natural resources and the environment. The green technology process is used to reduce the amount of waste and pollution that are created during production and consumption.
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