Carbon Reduced/Neutral Manufacturing Process Global Market Opportunities and Strategies to 2033

This report describes and explains the carbon reduced/neutral manufacturing process market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global carbon reduced/neutral manufacturing process market reached a value of nearly $1.96 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.3% since 2018. The market is expected to grow from $1.96 billion in 2023 to $2.64 billion in 2028 at a rate of 6.1%. The market is then expected to grow at a CAGR of 8.1% from 2028 and reach $3.91 billion in 2033.

Growth in the historic period resulted from the increased demand for clean energy sources, high environment impact of conventional power generation sources, strong economic growth in emerging markets and rise in fuel prices. Factors that negatively affected growth in the historic period were lack of financial incentives.

Going forward, the increasing awareness to reduce greenhouse gas emissions, rapid industrialization, increasing government support and increasing urbanization will drive the growth. Factor that could hinder the growth of the carbon reduced/neutral manufacturing process market in the future include uncertain regulatory landscape.

The carbon reduced/neutral manufacturing process market is segmented by activity into emissions reduction management, renewable energy management, waste management, product life cycle management and other activities. The emissions reduction management market was the largest segment of the carbon reduced/neutral manufacturing process market segmented by activity, accounting for 38.1% or $747.7 million of the total in 2023. Going forward, the renewable energy management segment is expected to be the fastest growing segment in the carbon reduced/neutral manufacturing process market segmented by activity, at a CAGR of 7.1% during 2023-2028.

The carbon reduced/neutral manufacturing process market is segmented by components into solutions and services. The solutions market was the largest segment of the carbon reduced/neutral manufacturing process market segmented by components, accounting for 60.4% or $1.18 billion of the total in 2023. Going forward, the solutions segment is expected to be the fastest growing segment in the carbon reduced/neutral manufacturing process market segmented by components, at a CAGR of 6.4% during 2023-2028.

North America was the largest region in the carbon reduced/neutral manufacturing process market, accounting for 35.1% or $688.4 million of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the carbon reduced/neutral manufacturing process market will be Asia-Pacific and North America where growth will be at CAGRs of 7.1% and 6.5% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 5.7% and 4.6% respectively.

The global carbon reduced/neutral manufacturing process market is concentrated, with a few number of large players operating in the market. The top ten competitors in the market made up to 81.2% of the total market in 2022. The market concentration can be attributed to the presence of large number of players in different geographies. Prominent players are acquiring the products and entering into partnerships with the other companies to consolidate their market positions across the globe, while others are distributing products. Veolia Environnement SA was the largest competitor with a 26.6% share of the market, followed by Suez SA with 20%, Schneider Electric SE with 15.5%, Engie SA with 6.8%, Covanta Holding Corporation with 4.2%, Clean Harbors, Inc with 3.2%, the Carbon trust with 1.9%, Climate Impact Partners Limited with 1.3%, ClimeCo LLC with 0.9% and EcoAct with 0.8%.

The top opportunities in the carbon reduced/neutral manufacturing process market segmented by activity will arise in the emissions reduction management segment, which will gain $270.3 million of global annual sales by 2028. The top opportunities in the carbon reduced/neutral manufacturing process market segmented by components will arise in the solutions segment, which will gain $433.9 million of global annual sales by 2028. The carbon reduced/neutral manufacturing process market size will gain the most in USA at $229.3million.

Market-trend-based strategies for the carbon reduced/neutral manufacturing process market include focus on the integration of digital twin technology to capture and cut emissions of greenhouse gases, introduce new and innovative solutions to expand their product portfolio and strengthen their market position, focus on strategic partnerships and collaborations to expand their product portfolio and geographic presence, focus on new facility expansions to expand their product portfolio and geographic presence and focus on investing in and developing new product solutions with artificial intelligence (AI) technology to strengthen their position in the market.

Player-adopted strategies in the carbon reduced/neutral manufacturing process market include focus on expanding operational capabilities through strategic acquisitions, focus on enhancing business capabilities through the launch of new products and focus on enhancing business operations through strategic collaborations and partnerships.

To take advantage of the opportunities, the analyst recommends the carbon reduced/neutral manufacturing process companies to focus on digital twin integration for carbon-neutral manufacturing, focus on technological innovation for carbon neutrality, focus on sustainable facility expansion for carbon neutrality, focus on AI-driven solutions for carbon neutrality, focus on renewable energy management segment for growth, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, focus on strategic pricing models for sustainability leadership, participate in trade shows and events, continue to use B2B promotions, focus on educational campaigns for market awareness and focus on targeting eco-conscious consumers for growth.