Climate Resilient Technologies Market Share

APAC Market Statistics

Asia Pacific industry is predicted to dominate majority revenue share of 36% by 2037. The Asia Pacific market is also anticipated to witness the largest revenue by the end of 2037, owing to increasing climate consciousness in nations such as China, India, Japan, and others. In Japan, the per-person carbon emission has indeed significantly decreased. The World Bank reports that Japan's per-capita carbon emissions decreased from 9.8 metric tons in 2013 to 8.5 in 2019. The growth of the market can be attributed to growing climatic concerns, and their impact on the economic and environmental sector. According to the World Bank, the region includes 13 of the 30 countries most vulnerable to the impacts of climate change. Without concerted action, the region could see an additional 7.5 million people fall into poverty owing to climate impacts by 2030.  Furthermore, there has been surging adoption of climate resistant technologies in the agriculture technologies in order to achieve higher productivity. Hence, it is expected to boost the growth of the market in the region. For instance, according to the India Brand Equity Foundation, the agricultural sector recorded a sharp increase in investments with a cumulative FDI inflow of USD 2,600.70 million between April 2000-June 2022. Furthermore, agriculture and allied activities recorded a growth rate of 3.9% in FY 2021-22.

North American Market Forecast

Moreover, the market in the North America region is anticipated to witness a significant growth over the forecast period. This can be attributed to the rising several natural disasters that the region faces such as flooding, drought, heat, etc. For instance, according to the National Centers for Environmental Information, the United States has experienced 341 climate and weather disasters since 1980, with total damages/costs exceeding USD 1 billion. The United States will experience 18 weather/climate disaster events in 2022 (including 1 flooding event, 1 drought event, 11 severe storm events, 3 tropical cyclone events, 1 winter storm event, and 1 wildfire event), and 60 events between 2020 and 2022. The combined cost of these 341 events is more than USD 2.475 trillion. In response to these disasters, the region is developing a resilience strategy in the form of climate resilient technologies, which help the climate anticipate and recover. For example, Canada and the United States signed the Paris agreement, a legally binding international climate change treaty. The agreement aims to limit global warming to below 2°C (preferably 1.5°C) compared to pre-industrial levels.