February 24, 2024
Climate Change Consulting Market

Climate Change Consulting Market Is Estimated To Witness High Growth Owing To Increasing Concerns Towards Environmental Protection

Climate change consulting involves providing advisory and consulting services to assess climate change risks, conduct climate impact or vulnerability assessments, assist in the design of mitigation and adaptation strategies, develop climate action plans and policies, and provide guidance for reporting requirements. Such consulting aids organizations and governments in tackling climate change challenges through strategic solutions and decision support. The need for climate change consulting is rising due to growing environmental concerns and stringent regulatory norms towards curbing greenhouse gas emissions.

The global climate change consulting market is estimated to be valued at US$ 7.86 Bn in 2024 and is expected to exhibit a 13% CAGR over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the climate change consulting market are Cato Manufacturing Ltd, Culver Props, Inc., Delta Electronics, Inc., Dowty Circuits Limited, Hartzell Propeller, Inc., McCauley Propeller Systems, Inc., Sensenich Propeller Service, Inc., and others. The key players are focusing on expanding into new regions through partnerships and acquisitions to increase their global footprint.

The key opportunities in the market include developing comprehensive climate change mitigation and adaptation strategies, drafting science-based decarbonization roadmaps and policies, creating carbon pricing mechanisms, assisting with climate risk disclosures and reporting frameworks. With growing concerns towards environmental sustainability, there is a surging demand for climate change consulting globally.

The climate change consulting market is witnessing high growth in regions like North America, Europe, Asia Pacific owing to stringent environmental regulations and carbon neutrality goals of various countries. Consulting firms are expanding their operations across global locations to assist organizations and governments worldwide in mitigating and adapting to climate change.

Market drivers

The major driver for the of the Climate Change Consulting Market Growth is the increasing concerns towards environmental protection and sustainability. Various industries and governments are seeking strategic guidance to reduce their carbon footprint and transition to a low-carbon economy. This is propelling the demand for advisory and consulting services which help design and implement climate change strategies, renewable energy programs, carbon pricing and reporting frameworks. Furthermore, stringent regulatory norms and climate disclosure requirements in many countries are also augmenting the growth of the climate change consulting market.

PEST Analysis

Political: Climate change consulting firms must adhere to climate change policies and regulations established by various governments. Changes in political priorities and support for climate action can impact demand.

Economic: Economic conditions influence budgets allotted towards climate change adaptation and mitigation initiatives which drive demand for climate change consulting services.

Social: Growing environmental awareness and concerns around climate change are increasing the social imperative for addressing its challenges through development and implementation of climate strategies and solutions.

Technological: Advancements in digital technologies, IoT, big data and analytics are enabling climate change consultants to offer more sophisticated services around risk assessment, scenario modelling and strategy formulation. Technologies also facilitate remote advisory services.

In terms of value, the North American and European regions account for over 60% share of the global climate change consulting market currently led by developed economies that are proactively investing in climate strategy development and implementation. The Asia Pacific region excluding Japan and China has emerged as the fastest growing regional market for climate change consulting services driven by the expanding economies in Southeast Asia that are increasing climate action and the need for expert advisory.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it