Esoteric sustainability goals in annual reports are no longer enough.Regulation and mandates remain key market drivers
Boulder, Colorado., May 2, 2024 /PRNewswire/ — A new report from Guidehouse Insights analyzes key trends in sustainable manufacturing.
As climate change accelerates and governments around the world get more serious about reducing greenhouse gas (GHG) emissions, manufacturers are realizing that arcane sustainability targets in annual reports are no longer enough. . The global market for investments in the Industrial Internet of Things (IIoT), industrial renewable energy, power purchase agreements (PPAs), and carbon capture, utilization and sequestration technology (CCUS) in manufacturing, according to a new report from Guidehouse Insights. approaches. $62 billion will grow at a compound annual growth rate (CAGR) of 10.4% in 2024 and over the next 10 years. $150.8 billion The total will increase by 143% in 2033.
“Conceptually, sustainable manufacturing is not complicated. Manufacturers can make their factories greener in a variety of ways,” he says. richelle elberg, Principal Research Analyst at Guidehouse Insights. “But the devil is in the details, and the industry is far from achieving truly sustainable manufacturing. Government mandates continue to be a major barrier to widespread adoption of solutions, but end-user demand is leading manufacturing executives to see the writing on the wall. Masu. ”
Sustainability in manufacturing is rapidly moving from being a 'nice-to-have' to becoming a critical element in the competitive global industrial market. The report says that forward-thinking manufacturers are not only accelerating their sustainability efforts, but also increasing demands on their suppliers and other participants in the value chain to do the same.
report, sustainable manufacturinganalyzes key trends in sustainable manufacturing and investment forecasts in four key technology areas (digitization and IIoT technologies) that are at the core of making industrial processes more sustainable. Increasing renewable energy capacity with on-premises facilities. Increasing renewable energy capacity through PPAs. and CCUS. This report provides an overview of circular economy and recycling methodologies and discusses a number of lean manufacturing principles. Finally, we forecast global investments in core sustainable manufacturing technology segments by region and technology from 2024 to 2033. The report summary can be downloaded for free from the Guidehouse Insights website.
About Guidehouse Insight
Guidehouse Insights is the specialized market intelligence division of Guidehouse, providing research, data and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of the global clean technology market. The team's research methodology combines supply-side industry analysis, primary end-user research, and demand assessment with an in-depth study of technology trends to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About guide house
Guidehouse is a leading global provider of consulting services to public sector and commercial markets, with extensive capabilities in management, technology and risk consulting. By combining public and private sector expertise, we help our clients address their most complex challenges and navigate significant regulatory pressures with a focus on transformational change, business resilience, and technology-driven innovation. We will support you so that you can Across our range of advisory, consulting, outsourcing and digital services, we create scalable, innovative solutions that help our clients overcome complexity and position themselves for future growth and success. The company has more than 16,000 professionals in more than 55 locations around the world. Guidehouse is led by experienced professionals with proven and diverse expertise in traditional and emerging technology, markets, and agenda-setting issues that drive the national and global economy. For more information, please visit www.guidehouse.com.
*Information regarding the report included in this press release is sustainable manufacturing, is a summary and reflects Guidehouse Insights' current expectations based on market data and trend analysis. Market forecasts and expectations are inherently uncertain and actual results may differ materially from those described in this press release or report. To fully understand the assumptions underlying the report's conclusions and the methodology used to create the report, please read the full report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update the information contained in this press release or report.
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Cecil Fradkin For guide house insight
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