Climate change consulting market

Climate Change Consulting Market, by Service Type (Corporate Strategy for Climate Change, Carbon Footprint Analysis, Emission Trading and Offsetting, Renewable Energy Development, Energy Efficiency, Policy and Economics, Climate Adaptation Analysis & Planning, Green Building Services), by Industry (Mining, Energy & Utilities, Government, Manufacturing, Transportation & Logistics, Others (Construction, Agriculture, Forestry, etc.)), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Request Free Sample

Aug 2022
CMI2537
307 Pages
Excel & Pdf
Information and Communication Technology

Summary

Increasing investments in sustainable environmental planning and development has provided growth opportunities for consulting services. Investors now-a-days are much more interested to invest in a company, which is actively providing solutions to sustainability challenges rather than focusing on harmful products such as tobacco, etc. Moreover, regulators are expected to start policing ‘responsible funding’ to promote sustainable investments. Governing authorities of countries are introducing various plans to increase the responsible investments. For instance, the DRAFT ACT Natural Resources Management Investment Plan of Australia has been put together by ACT Natural Resource Management (ACT NRM) in partnership with the community to determine current and future investment priorities for the ACT and region.

Recent Developments:

In March 2020, ERM, a consultancy that provides innovative solutions to sustainability challenges acquired M.J. Bradley & Associates LLC (MJB&A), a specialist energy, climate change and sustainability advisory company that provides strategic policy & regulatory advice on low carbon energy transition. With the acquisition of MJB&A, ERM plans to enhance its capability to operationalize sustainability through its corporate sustainability, climate change services and technical & operational air quality/climate change work.
In January 2019, global management consulting firm, A.T. Kearney, acquired business analytics and data management consultancy, Cervello. Cervello’s team of 120 data engineers, data scientists, and developers – some of whom are based in London – will work with A.T. Kearney’s consultants to bolster client performance and transformation programs.

Restraint:

Decreasing stringency on policies and regulations on climate change and carbon emissions

Federal agencies use social cost of carbon (SCC) to evaluate the economic harm caused by releasing more carbon dioxide in the atmosphere and increase in global warming. The Obama administration estimated this cost per ton to be around US$ 50 by 2020 post adjusting inflation, which led to implementation of stringent regulation regarding harmful gases emissions. However, the current Trump administration argues with the aforementioned facts stated by previous administration and stated that each ton of carbon dioxide emitted by a car or a coal plant in 2020 would only cost US$ 1 to US$ 7 in monetary loss, as the Obama administration considered the impact within the boundaries of the U.S. and not internationally. However, refusing to control carbon emissions in the U.S. can negatively impact the response from other countries, which may also relax their legislations on carbon emissions. This can result in increased global warming and drastic climate change.

Global Climate Change Consulting Market- Impact of Coronavirus (Covid-19) Pandemic:

The rapid outbreak of COVID-19 across the globe has significantly affected all industries globally. The situation caused significant deterioration in economic conditions and the government had to shut down commercial as well as educational sectors for a specific period. Strict containment measures have resulted in a drop of economic activities, the business environment of many organizations has changed. For instance, the ongoing and planned projects of construction, mining, and other industries have been delayed, or canceled. Due to lockdown, projects consulting projects were either postponed or canceled which impacted the business of consulting service providers.

On the other hand, COVID-19 has brought about short-term environmental benefits as a temporary reduction in carbon dioxide and other greenhouse gases, as people were forced to stay at home and industries such as mining, construction, and textiles remained closed for a period.

Climate Change Consulting Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 6.1 Bn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	5.7%	2030 Value Projection:	US$ 9.89 Bn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:	By Service Type: Corporate Strategy for Climate Change, Carbon Footprint Analysis, Emission Trading and Offsetting, Renewable Energy Development, Energy Efficiency, Policy and Economics, Climate Adaptation Analysis & Planning, Green Building Services By Industry: Mining, Energy & Utilities, Government, Manufacturing, Transportation & Logistics, Others (Construction, Agriculture, Forestry, etc.)
Companies covered:	ICF International, Inc., A.T. Kearney, Inc., McKinsey & Company, Inc., PricewaterhouseCoopers LLP (PwC), ERM Group, Inc., KPMG International, Coastal Risk Consulting, LLC, CH2M HILL Companies, Ltd. (Jacobs Engineering Group), Deloitte LLP, Ramboll Environ, Inc.
Growth Drivers:	Increasing awareness about the climate change laws and regulations across the world Increasing consulting demand from the chemical industry
Restraints & Challenges:	Decreasing stringency on policies and regulations on climate change and carbon emissions

North America held a dominant position in the Global Climate Change Consulting Market in 2021

Statistics:

North America held dominant position in the global climate change consulting in 2021, accounting for 33.0% share in terms of volume, followed by Asia Pacific region

Figure 1: Global Climate Change Consulting Market Share (%), By Region, 2021

North America is expected to account for the largest market share for the global climate change consulting market during the forecast period. Significant climate changes have already been observed in the U.S. These changes includes a rise in sea level, increase in air and water temperatures, increased frequency and intensity of heavy downpours, reduced frost days, and reduced snow cover, permafrost, glaciers, and sea ice. Climate change impacts are expected to become increasingly severe in North America. Hence, the U.S government, industries and organizations are approaching consulting firms that provide solutions on reducing the effect of climate change. Hence, North America region is expected to show significant growth in the climate change consulting market.

Europe region is expected to gain traction during the forecast period. Many organizations in European region are adopting various solutions regarding climate changes. These organizations approach consultancies for solutions and hence, various consultancies are providing sustainable solutions over climate change impacts. For instance, Trinomics B.V., an economic policy consultancy in the Netherlands, offers consulting services in helping public authorities tackle climate change challenges and provide solutions in the fields of climate finance, climate mitigation, and climate adaptation.

Green Building Services segment is expected to drive the Global Climate Change Consulting Market during the forecast period

Green building initiative drives growth of the energy efficiency segment of the climate change consulting market. Nowadays, technological advancements in the automotive industry are focused on less emissions, thereby fueling demand for climate change consulting services. Increasing awareness regarding use of renewable energy sources and corresponding government initiatives across different countries fuels the development of renewable energy projects and generates demand for climate change consulting services.

Figure 2: Global Climate Change Consulting Market (US$ Bn) Analysis and Forecast, 2022 - 2030

The global climate change consulting market was valued at US$ 6.12 Bn in 2021 and is expected to reach US$ 9.89 Bn by 2030, growing at a CAGR of 5.7% between 2022 and 2030.

Major players operating in the global climate change consulting market include ICF International, Inc., A.T. Kearney, Inc., McKinsey & Company, Inc., PricewaterhouseCoopers LLP (PwC), ERM Group, Inc., KPMG International, Coastal Risk Consulting, LLC, CH2M HILL Companies, Ltd. (Jacobs Engineering Group), Deloitte LLP, Ramboll Environ, Inc.

Table of Content

Table of Contents

*Browse 60 market data tables and 40 figures on "Global Climate Change Consulting Market- forecast to 2030”.

Segmentation

Detailed Segmentation

- Frequently Asked Questions -

What is the expected market size of the global climate change consulting market in 2030?

The global climate change consulting market is expected to reach US$ 9.89 billion by 2030.

What is the expected compound annual growth rate (CAGR) of themarket during the forecast period (2022-2030)?

The market is expected to witness a CAGR of 5.7% during the forecast period (2022-2030).

What is the primary factor contributing to the market?

Increasing consulting demand from the chemical industry is expected to drive the growth of the market.

Based on service type, which segment held the largest market share in the market in 2021?

Green building services segment held the largest market share among the service type segment in 2021.

Which region held the largest market share in the market in 2021?

North America held the largest share in the market in 2021.

Who are the key players operating in the market?

Key players operating in the market include ICF International, Inc., A.T. Kearney, Inc., McKinsey & Company, Inc., PricewaterhouseCoopers LLP (PwC), ERM Group, Inc., KPMG International, Coastal Risk Consulting, LLC, CH2M HILL Companies, Ltd. (Jacobs Engineering Group), Deloitte LLP, Ramboll Environ, Inc.