Climate Change Consulting services include the creation of different strategies to reduce carbon intensity in the market and diminish greenhouse emissions and alleviate Global Warming.
Covid-19 Impact & Market Status
It was due to the coronavirus (COVID-19) epidemic, manufacturing and sales of electronic equipment were adversely impacted. The market for Climate Change Consulting Services witnessed robust economic growth in the emerging markets. The effect of e-waste, the rise in the production of oil & gas contributed to pollution and thus leads to global warming. The growth of the Climate Change Consulting market is hampered by a shortage of skilled labourers, lack of awareness, and the covid-19 pandemic. Factors such as the rise in investments in metropolitan cities, a global collaboration of companies for the protection of the environment, the importance of sustainable development, government initiatives etc are likely to drive the market growth. However, the growing competition and demand due to the introduction of advanced technologies such as Artificial intelligence, robotics etc across the globe are likely to become contributing factors to the upliftment of the market.
The Climate Change Consulting Market is expected to reach US$ 9.89 Bn during the forecast period at a 5.7% CAGR.
In the market, the Renewable Energy Development Segment has a leading position.
In the Climate Change Consulting industry, the renewable energy development segment has a key role. During the forecast period, the category is expected to maintain its dominance. Renewable energy project development, strategy creation, technology selection and procurement, site processing and development, risk reduction, effective management, and other services are included in the renewable energy development services. All energy technologies such as hydro, bio-energy, geothermal, solar, and wind are included in Climate Change Consulting services for renewable energy development. Energy performance regulations such as the Energy Performance of Building Directive (EPBD) For Sustainable Buildings, Renewable Energy Integration, and Energy Certification Constraints in Metropolitan City Projects are driving the growth of this segment.
Supremacy of the North American region in the Climate Change Consulting Market
The North American region possesses the largest stake in the market and is likely to retain its position over the projection period. There have been several changes witnessed in the USA such as a rise in sea level, hike in air and water temperatures, increased frequency and intensity of extreme downpours, dipped frost days and snow cover, permafrost, melting of glaciers and sea ice etc. the impacts of climate change are a global concern and is anticipated to become more adverse in the North American region. It is due to the government backing with many favourable initiatives and rules& regulations in many states of the country, the USA recorded the highest share in terms of revenue in this region. The steps taken by large-scale enterprises to mitigate the risks and threats posed by climate change are likely to make an impact across the globe.
The Global market for Climate Change Consulting was valued at USD 5.3 billion in the year 2017. It is estimated to project USD 8.65 billion with a growing CAGR of 5% over the projection period.
The adoption of Climate Change Consulting services consists of a wide range of activities such as cultivating the different type of crops that suits the warmer and drier weather conditions, companies are now re-locating their core business operations from coastal areas to avoid sea-level rise vulnerabilities, and communities are altering its zones and making buildings way stronger to resist damages caused by extreme weather phenomenon.
The severe weather has disrupted the production process and reduced the availability of materials, as well as destroying communication lines and transportation routes. As a result, global governments are coming forward with various initiatives to mitigate the post effects of climate conditions. Moreover, the Canadian government has taken many practical actions given climate change which reduces greenhouse gas emissions (CHG) generated from vehicles, manufacturing and industrial units.
Greenhouse impacts have caused a significant shift in the global climate during the last few years. When fossil fuels such as coal, petrol, and other petroleum products are burned, greenhouse gases are released, resulting in CO2 emissions. Global warming is primarily caused by the process of producing excessive carbon emissions. This causes the globe to get warmer (the temperature of the earth rises). One of the most severe threats to natural resources and human security is global warming. Thus, the growing content of greenhouse gas emissions in the environment is putting millions of people at risk of penury and illness.
Raising concerns about carbon emissions in the environment and constantly increasing demand for climate change consultancy services by mining, small & medium and large enterprises, government, mining and other core sectors are assumed to lead to strategic action plans against global pollution and crisis during the forecast period. Moreover, the launch of a new suite of climate-change models is also expected to aid in the growth of the market.
Industries such as Manufacturing, Transportation, Mining and Government can come forward to contribute to maintaining the earth's resources by playing a major role in dropping greenhouse gas emissions. These firms can also help to alleviate the world's dire economic and financial situations, leading in enhanced economic development and growth. In the Climate Change Consulting sector, several players offer services to both government and commercial clients. Identifying the looming opportunities in the meantime in the dynamic environment and supply chain operations is a prominent factor for these industries. The steps to mitigate global warming severity are likely to bring lucrative growth prospects for the players in the Climate Change Consulting market. A significant technique deployed for diminishing greenhouse gas emissions is using CO2 absorption and carbon storage. It reduces the content of Co2 in the air. Another method of diminishing Co2 emissions is to plant as many saplings as possible as trees act like a sponge that absorbs and stores CO2 from the atmosphere.
The Major players operating in the global Climate Change Consulting industry include McKinsey & Company, Inc., ICF International, Inc., PricewaterhouseCoopers LLP (PwC), Coastal Risk Consulting, LLC, ERM Group, Inc., Deloitte LLP, KPMG International, CH2M HILL Companies, Ltd. (Jacobs Engineering Group), and Ramboll Environ, Inc. Major players operating in the global Climate Change Consulting market are more inclined towards implementing expansion strategies.
Latest Innovations in the Global Climate Change Consulting Market: A Snapshot
The Climate Change Consulting market has been witnessing exponential investments over the past few years as climate change becoming a global concern.
In March 2021
- Palatine Private Equity Company partnered with Anthesis (which is a sustainability consultancy) by a minority investment. this partnership intends to accelerate its mission to mitigate the severe outcomes of global climate change.
- RMS, a Catastrophe Risk Solutions Company, has announced the imminent release of a new suite of climate-change models that will help clients analyze the short- and long-term implications of climate change on their physical assets.
- Boston Consulting Group expanded its Centre for Climate Action to include a new sustainability product. The firm expanded its current Climate Action Center into a global BCG Centre for Climate & Sustainability.
Climate Change Consulting Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 8.65 billion|
|Growth Rate||CAGR of 5 % during 2021-2028|
|Segment Covered||Service Type, Industry, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||McKinsey & Company, Inc., ICF International, Inc., PricewaterhouseCoopers LLP (PwC), Coastal Risk Consulting, LLC, ERM Group, Inc., Deloitte LLP, KPMG International, CH2M HILL Companies, Ltd. (Jacobs Engineering Group), and Ramboll Environ, Inc.|
Key Segments of the Global Climate Change Consulting Market
Service Type Overview, 2018-2028 (USD Billion)
- Renewable Energy Development
- Energy Efficiency
- Corporate Strategy for Climate Change
- Carbon Footprint Analysis
- Strategic Advisory Services
- Climate Adaptation Analysis & Planning
- Policy And Economics
- Emission Trading and Offsetting
- Green Building Services
Industry Overview, 2018-2028 (USD Billion)
- Transportation And Logistics
- Energy & Utilities
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- The Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- North America