Esoteric sustainability goals in annual reports will no
longer suffice; Regulations and mandates remain a key market
driver
BOULDER, Colo.,
May 2,
2024 /PRNewswire/ -- A new report from Guidehouse
Insights analyzes major trends in sustainable
manufacturing.
As climate change accelerates and governments around the world
grow more serious about reducing greenhouse gas (GHG) emissions,
manufacturers are realizing that esoteric sustainability goals in
annual reports will no longer suffice. According to a new report
from Guidehouse Insights, the global market for investment in
industrial internet of things (IIoT), industrial renewables, power
purchase agreements (PPAs), and carbon capture, utilization, and
sequestration techniques (CCUS) in manufacturing will approach
$62.0 billion in 2024 and grow at a
compound annual growth rate (CAGR) of 10.4% over the next decade,
reaching $150.8 billion in 2033—a
143% overall increase.
"Conceptually, sustainable manufacturing is not complicated.
Manufacturers can make their factories greener in numerous ways,"
says Richelle Elberg, principal
research analyst with Guidehouse Insights. "However, the devil is
in the details, and the industrial world remains far from achieving
truly sustainable manufacturing. The costs and complexity involved
in upgrading 20th century facilities remain significant barriers to
broader deployment of sustainability solutions in manufacturing
worldwide, but increasingly, government mandates and end-user
demand are driving executives in manufacturing verticals to
acknowledge the writing on the wall."
Sustainability in manufacturing is quickly moving from a "nice
to have" to a table stake in the highly competitive global
industrial marketplace. Forward-thinking manufacturers are not only
accelerating efforts to become more sustainable but are also
increasingly demanding the same of suppliers and other participants
in the value chain, according to the report.
The report, Sustainable Manufacturing, analyzes major
trends in sustainable manufacturing and projected investment in
four key technology areas that will be core to rendering industrial
processes more sustainable: digitalization and IIoT technologies;
increased renewables capacity through on-premises facilities;
increased renewables capacity via PPAs; and CCUS. The report
provides an overview of circular economy and recycling
methodologies and describes numerous lean manufacturing principles.
Finally, it projects global investments in core sustainable
manufacturing technology segments by region and technology from
2024 through 2033. An executive summary of the report is available
for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the
dedicated market intelligence arm of Guidehouse, provides research,
data, and benchmarking services for today's rapidly changing and
highly regulated industries. Our insights are built on in-depth
analysis of global clean technology markets. The team's research
methodology combines supply-side industry analysis, end-user
primary research, and demand assessment, paired with a deep
examination 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 Guidehouse
Guidehouse is a leading global
provider of consulting services to the public sector and commercial
markets, with broad capabilities in management, technology, and
risk consulting. By combining our public and private sector
expertise, we help clients address their most complex challenges
and navigate significant regulatory pressures focusing on
transformational change, business resiliency, and technology-driven
innovation. Across a range of advisory, consulting, outsourcing,
and digital services, we create scalable, innovative solutions that
help our clients outwit complexity and position them for future
growth and success. The company has more than 16,000 professionals
in over 55 locations globally. Guidehouse is led by seasoned
professionals with proven and diverse expertise in traditional and
emerging technologies, markets, and agenda-setting issues driving
national and global economies. For more information, please visit
www.guidehouse.com.
* The information contained in this press release concerning
the report, Sustainable Manufacturing, is a
summary and reflects the current expectations of Guidehouse
Insights based on market data and trend analysis. Market
predictions and expectations are inherently uncertain and actual
results may differ materially from those contained in this press
release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report's
conclusions and the methodologies used to create the report.
Neither Guidehouse Insights nor Guidehouse undertakes any
obligation to update any of the information contained in this press
release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse
Insights
+1.646.941.9139
cfradkin@scprgroup.com
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SOURCE Guidehouse Insights