Subject: MRR
Sustainable Manufacturing Market worth $367.2 billion by 2029 - Exclusive Report by MarketsandMarketstm
CHICAGO, May 6, 2024 /PRNewswire/ -- The global sustainable manufacturing market is expected to be valued at USD 215.4 billion in 2024 and is projected to reach USD 367.2 billion by 2029; it is expected to grow at a CAGR of 11.3 % from 2024 to 2029 according to a new report by MarketsandMarketstm. Several factors are propelling the growth of the Sustainable manufacturing market across diverse industries, including recycled materials, energy-efficient processes, and biobased materials. Regulatory policies, cost savings, and consumer demand for eco-friendly products drive the market for these offerings. Technological advancements, industry collaborations, and certifications enable efficient practices and promote the best standards, accelerating growth in the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140349832
Browse in-depth TOC on "Sustainable Manufacturing Market"
172 ? Tables
55 ? Figures
225 ? Pages
Sustainable Manufacturing Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 215.4 billion |
Estimated Value by 2029 | $ 367.2 billion |
Growth Rate | Poised to grow at a CAGR of 11.3% |
Market Size Available for | 2020?2029 |
Forecast Period | 2024?2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Offering, Sustainability, Technology, End-Use and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Supply Chain Complexities |
Key Market Opportunities | Increasing use of sustainable and eco-friendly materials in advanced technologies such as 3D printing |
Key Market Drivers | Heightened awareness of environmental issues about biodiversity and ecological imbalance |
The green hydrogen segment is expected to grow fastest during the forecast period.
Green hydrogen is a sustainable energy carrier because it is produced by electrolyzing water with renewable energy sources like solar or wind power, resulting in no greenhouse gas emissions. This makes green hydrogen a cleaner alternative to conventional production methods that use fossil fuels. The growth of green hydrogen is driven by the global shift towards decarbonization and carbon emissions reduction that aligns with climate targets. Technological electrolyzer advancements and lower renewable energy costs have made green hydrogen production more practical and affordable. Governments worldwide support green hydrogen with policies and incentives, especially in hard-to-decarbonize sectors like heavy industry and transportation. The combination of environmental, technological, and policy factors accelerates green hydrogen's growth as a sustainable energy carrier.
The recycled lithium-ion battery segment is projected to grow significantly during the forecast period.
Recycled lithium-ion batteries are expected to grow in the sustainable manufacturing market due to environmental, economic, and regulatory factors. Recycling lithium-ion batteries helps mitigate the environmental impact of mining and extracting raw materials such as lithium, cobalt, and nickel, often sourced from ecologically sensitive areas. Recovering valuable metals from spent batteries reduces the demand for new raw materials, conserving natural resources and reducing carbon emissions associated with mining and processing. Economically, recycling can lower costs by providing manufacturers with a more affordable and stable supply of critical materials while reducing the expenses associated with properly disposing of hazardous waste. Moreover, government regulations and policies worldwide increasingly mandate battery recycling and end-of-life management, driving the adoption of recycling practices. These factors and advancements in recycling technologies are propelling the growth of recycled lithium-ion batteries in the sustainable manufacturing market.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=140349832
Asia Pacific is expected to grow at a significant rate throughout the forecast period.
Asia Pacific sustainable manufacturing market is projected to grow at a CAGR of 10.7%. The major factors driving the growth of the sustainable manufacturing industry in Asia Pacific are advances in clean technology, renewable energy, and resource-efficient manufacturing processes enabling sustainable practices. Asian-Pacific countries, particularly Japan and South Korea, are leading in green technology research and development. Government support to drive industrialization will also boost the demand for sustainable manufacturing. Several governmental initiatives have been implemented across the region, each fostering industrial development. For example, China's "Made in China 2025," Japan's "Industrial Value Chain Initiative (IVI)," South Korea's "The Manufacturing Innovation Strategy 3.0 (Strategy 3.0)," and India's "Samarth Udyog Bharat 4.0" are anticipated to contribute to industrial progress significantly. These initiatives are expected to unlock growth prospects for the sustainable manufacturing market by creating conducive environments for advancement.
Key Players
The sustainable manufacturing companies includes significant Tier I and II players such as Veolia (France), Umicore (Belgium), Braskem (Brazil), Cirba Solutions (US), and NatureWorks (US), among others, among others, are some of the key players in the sustainable manufacturing market.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=140349832
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Industry 5.0 Market Size, Share, Statistics and Industry Growth Analysis by Technology (Digital Twin, Al in Manufacturing, Industrial Sensors, Augmented & Virtual Reality, Industrial 3D Printing, Robotics), Sustainability (Waste-to-Energy Conversion, Recycle, Material), Industry - Global Forecast to 2029
Lithium-ion Battery Market Size, Share, Statistics and Industry Growth Analysis Report by Type (NMC, LFP, LCO, LTO, LMO, NCA), Capacity (Below 3,000 mAh, 3,001 mAh?10,000 mAh, 10,001 mAh?60,000 mAh, Above 60,000 mAh), Voltage (Below 12V, 12V?36V, Above 36V), Application and Region - Global Forecast to 2032
Supercapacitor Market by Type (Double Layer Capacitors, Pseudocapacitors, Hybrid Capacitors), Electrode Material (Carbon, Metal Oxide, Conducting Polymers, Composites), Application (Automotive, Energy, Consumer Electronics) - Global Forecast to 2027
Smart Manufacturing Market Size, Share, Statistics and Industry Growth Analysis Report by Technology (3D printing, Al in Manufacturing, Automated guided vehicle, Condition Monitoring, Cybersecurity, Digital Twin, HMI, Machine Vision, MES, PAM, Robot, Sensor), Industry, Region - Global Forecast to 2028
Smart Manufacturing Platform Market by Type (Device Management, Connectivity Management, Application Enablement Platform), Application (Performance, Optimization, Asset & Condition Monitoring), Industry, Region (2021-2026)
About MarketsandMarketstm
MarketsandMarketstm has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarketstm is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoretm (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarketstm.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarketstm INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/sustainable-manufacturing-companies.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/sustainable-manufacturing.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
These press releases may also interest you
|
News published on and distributed by:
