Green Technology Global Market Report 2024

Description

Green technology, also recognized as sustainable technology or clean technology, encompasses the development and deployment of products, processes, and systems aimed at tackling environmental issues and lessening adverse impacts on the Earth. It encompasses technologies geared towards reducing energy consumption, harnessing renewable energy sources, mitigating pollution and greenhouse gas emissions, conserving natural resources, and fostering ecological sustainability.

The principal components of green technology encompass both solutions and services. Solutions denote comprehensive systems or applications integrating various green technology elements to address environmental challenges and accomplish specific objectives, such as carbon emissions reduction, energy conservation, or pollution mitigation. These technologies span across categories including the Internet of Things (IoT), cloud computing, artificial intelligence and analytics, digital twin, cybersecurity, and blockchain, with applications extending to non-residential, residential, and other sectors.

The green technology research report is one of a series of new reports from The Business Research Company that provides green technology market statistics, including the green technology industry's global market size, regional shares, competitors with an green technology market share, detailed green technology market segments, market trends and opportunities, and any further data you may need to thrive in the green technology industry. This green technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The green technology market size has grown exponentially in recent years. It will grow from $18.69 billion in 2023 to $23.6 billion in 2024 at a compound annual growth rate (CAGR) of 26.3%. The growth observed during the historical period can be attributed to several key factors, including the increasing awareness of the advantages offered by green technologies, a rising demand for biomass solutions, heightened urgency to address climate change concerns, a shift towards readily deployable climate technology solutions with shorter implementation timescales, and a growing inclination towards sustainable investment practices.

The green technology market size is expected to see exponential growth in the next few years. It will grow to $61.13 billion in 2028 at a compound annual growth rate (CAGR) of 26.8%. Anticipated growth in the forecast period is driven by a surge in corporate pledges towards achieving net-zero emissions, coupled with increased investments from emerging economies in green infrastructure. Heightened concerns surrounding climate change and environmental degradation, along with rising industrial and consumer awareness, further contribute to this trend. Additionally, government initiatives aimed at promoting the adoption of green technologies are expected to play a significant role. Major trends in this period include the adoption of data measurement technologies and software solutions to enhance efficiency, generate new revenue streams, and facilitate performance monitoring

The upward trend towards sustainable investing is poised to accelerate the expansion of the green technology market in the foreseeable future. Sustainable investing, also known as ESG (Environmental, Social, and Governance) investing, seeks to generate financial returns while considering environmental, social, and governance factors. As awareness of environmental and social issues grows, a broader range of investments is contributing to a sustainable future. Within this landscape, green technology plays a pivotal role, with capital directed towards companies developing environmentally friendly solutions to address global challenges while delivering financial returns and fostering sustainability. For instance, data from Thomson Reuters Lipper revealed that a record $649 billion flowed into ESG-focused funds globally in 2021, up from $542 billion in 2020, with ESG funds now representing 10% of all global fund assets. Thus, the increasing shift towards sustainable investing is a key driver of the green technology market's growth trajectory.

Leading companies in the green technology sector prioritize technologically advanced solutions to drive innovation, minimize environmental impact, and support the transition to a sustainable economy. Munich Re Specialty Group, the green technology division of Munich Re, launched the green solutions portfolio in May 2023 to bolster clients' net-zero ambitions. This initiative positions the group as a prominent provider of commercial specialty and primary green insurance risks by 2030. The green solutions portfolio encompasses existing green technology offerings alongside innovative risk solutions, targeting emerging as the preferred partner for sustainable risks within the London and Lloyd's markets. Leveraging Munich Re's global distribution network, the portfolio focuses on technologies such as photovoltaic, wind, carbon capture, and energy storage, offering access to intangible asset products such as cyber coverage.

In April 2021, Landis+Gyr AG, an energy management solutions company based in Switzerland, acquired True Energy A/S to strengthen True Energy's growth and market potential. This strategic move expands True Energy's offerings in new markets, driving the adoption of sustainable and climate-friendly energy solutions. True Energy A/S, headquartered in Denmark, specializes in providing climate-friendly energy solutions, aligning with Landis+Gyr AG's commitment to advancing green technology and sustainability.

Major companies operating in the green technology market are Alphabet Inc., Microsoft Corporation, Engie SA, Tencent Holdings Limited, General Electric Company, International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., Salesforce Inc., NEC Corporation, Adobe Inc., VMware Inc., Intuit Inc., Atos SE, Blackstone Inc., Wolters Kluwer N.V., Adani Green Energy Limited, OneTrust LLC, EKI Energy Services Limited, thinkstep Ltd., Verisae LLC, ClimatePartner Gmbh, 3 Degrees Inc., ProcessMAP Corporation, Sustainable Travel International Inc., Cool Effect Inc., Sensus B.V

North America was the largest region in the green technology market in 2023. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the green technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the green technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The green technology market consists of revenues earned by entities by energy auditing, consulting on sustainability initiatives, installation and maintenance of renewable energy systems, and waste management solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The green technology market also includes sales of solar panels, wind turbines, energy-efficient appliances, electric vehicles, and sustainable materials. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Component: Solutions; Services
2) By Technology: Internet Of Things (IoT); Cloud Computing; Artificial Intelligence And Analytics; Digital Twin; Cybersecurity; Blockchain
3) By Applications: Non-Residential; Residential
Covering: Alphabet Inc.; Microsoft Corporation; Engie SA; Tencent Holdings Limited; General Electric Company

Product Code: r17370

1. Executive Summary

2. Green Technology Market Characteristics

3. Green Technology Market Trends And Strategies

4. Green Technology Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Green Technology Market Size and Growth

5.1. Global Green Technology Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Green Technology Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Green Technology Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Green Technology Market Segmentation

6.1. Global Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solutions
Services
6.2. Global Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Internet Of Things (IoT)
Cloud Computing
Artificial Intelligence And Analytics
Digital Twin
Cybersecurity
Blockchain
6.3. Global Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Non-Residential
Residential
Other Applications

7. Green Technology Market Regional And Country Analysis

7.1. Global Green Technology Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Green Technology Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Green Technology Market

8.1. Asia-Pacific Green Technology Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Green Technology Market

9.1. China Green Technology Market Overview
9.2. China Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Green Technology Market

10.1. India Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Green Technology Market

11.1. Japan Green Technology Market Overview
11.2. Japan Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Green Technology Market

12.1. Australia Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Green Technology Market

13.1. Indonesia Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Green Technology Market

14.1. South Korea Green Technology Market Overview
14.2. South Korea Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Green Technology Market

15.1. Western Europe Green Technology Market Overview
15.2. Western Europe Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Green Technology Market

16.1. UK Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Green Technology Market

17.1. Germany Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Green Technology Market

18.1. France Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Green Technology Market

19.1. Italy Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Green Technology Market

20.1. Spain Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Green Technology Market

21.1. Eastern Europe Green Technology Market Overview
21.2. Eastern Europe Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Green Technology Market

22.1. Russia Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Green Technology Market

23.1. North America Green Technology Market Overview
23.2. North America Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Green Technology Market

24.1. USA Green Technology Market Overview
24.2. USA Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Green Technology Market

25.1. Canada Green Technology Market Overview
25.2. Canada Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Green Technology Market

26.1. South America Green Technology Market Overview
26.2. South America Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Green Technology Market

27.1. Brazil Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Green Technology Market

28.1. Middle East Green Technology Market Overview
28.2. Middle East Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Green Technology Market

29.1. Africa Green Technology Market Overview
29.2. Africa Green Technology Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Green Technology Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Green Technology Market, Segmentation By Applications, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Green Technology Market Competitive Landscape And Company Profiles

30.1. Green Technology Market Competitive Landscape
30.2. Green Technology Market Company Profiles
- 30.2.1. Alphabet Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Microsoft Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Engie SA
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Tencent Holdings Limited
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. General Electric Company
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Green Technology Market Other Major And Innovative Companies

31.1. International Business Machines Corporation
31.2. Cisco Systems Inc.
31.3. Schneider Electric SE
31.4. Honeywell International Inc.
31.5. SAP SE
31.6. ABB Ltd.
31.7. Salesforce Inc.
31.8. NEC Corporation
31.9. Adobe Inc.
31.10. VMware Inc.
31.11. Intuit Inc.
31.12. Atos SE
31.13. Blackstone Inc.
31.14. Wolters Kluwer N.V.
31.15. Adani Green Energy Limited

32. Global Green Technology Market Competitive Benchmarking

33. Global Green Technology Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Green Technology Market

35. Green Technology Market Future Outlook and Potential Analysis

35.1 Green Technology Market In 2028 - Countries Offering Most New Opportunities
35.2 Green Technology Market In 2028 - Segments Offering Most New Opportunities
35.3 Green Technology Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer