Climate Change Consulting Market Size, Share, Growth, and Industry Analysis, By Type (Corporate Strategy for Climate Change, Carbon Footprint Analysis, Renewable, Energy Development, Energy Efficiency, Strategic Advisory Services, Policy and, Economics, Emission Trading and Offsetting, Climate Adaptation Analysis &, Planning, Green Building Services and Others), By Application (Mining, Energy & Utilities, Government, Manufacturing, Transportation & Lo

Updated On: 29 April 2024

REPORT OVERVIEW

The global climate change consulting market size was USD 6441.77 Million in 2022. As per our research, the market is projected to touch USD 9130.38 Million by 2028, exhibiting a CAGR of 5.99% during the forecast period.  The global COVID-19 pandemic has been unprecedented and staggering, with the climate change consulting market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

In the specialised field of climate change consulting, businesses, governments, and organisations receive guidance, know-how, and solutions on issues pertaining to sustainability, mitigation, and adaptation to climate change. Consultants evaluate an organization's carbon emissions and make recommendations for lowering them. Consider the potential effects of climate change on communities and enterprises. Provide guidance on following environmental standards and laws. Consultants on climate change frequently have degrees in engineering, policy analysis, environmental science, or similar disciplines. It's critical in this sector to stay current on scientific research, policy, and technical developments.

COVID-19 Impact: Lockdowns and Restrictions Led the Priority Issues and Funding Challenges In turn Downgraded the Market Growth

The profession of climate change consulting has had numerous noteworthy effects as a result of the Covid-19 epidemic.  In the early stages of the epidemic, short-term health considerations trumped long-term worries about climate change. Numerous consultancy assignments were postponed or delayed. The pandemic's effects on the economy resulted in sector-specific budget cuts that had an impact on financing for climate change activities. Budgetary restrictions in the public and commercial sectors as a result of economic uncertainty impacted the financing of climate change consultancy initiatives. Notwithstanding obstacles, funding opportunities did arise, particularly for creative approaches that may deal with pandemic- and climate-related problems.

LATEST TRENDS

"Climate Risk Assessment and Technological Interference to Grow Market Potentially"

Assessing transition risks (changes in market, legislation, technology, and policy) as well as physical risks (the direct effects of climate change) for financial institutions and enterprises is becoming more and more important. Increased demand, spurred by programmes such as the Task Force on Climate-related Financial Disclosures (TCFD), for full and transparent financial disclosures relating to climate change. Applying artificial intelligence, machine learning, and sophisticated data analytics to risk assessment, decision-making, and climate modelling. IoT device implementation to support data-driven climate solutions by providing real-time environmental monitoring.

SEGMENTATION

By Type

Based on type the  climate change consulting  market is classified as corporate strategy for climate change, carbon footprint analysis, renewable, energy development, energy efficiency, strategic advisory services, policy and, economics, emission trading and offsetting, climate adaptation analysis &, planning, green building services and others.

By Application

Based on application the climate change consulting market is classified as mining, energy & utilities, government, manufacturing, transportation & logistics and others.

DRIVING FACTORS

"Regulatory Policies, Agreements and Initiatives to Speed Up the Market Growth"

Expert counsel is necessary to achieve compliance with the increasingly stringent environmental legislation and policies at both national and international levels. The requirement for continuing consulting services is driven by the dynamic nature of climate-related policies, such as carbon pricing schemes and emissions reduction targets. Consulting services are required to ensure that policies and practises are in line with the global aims of the worldwide commitment to combat climate change under agreements such as the Paris Agreement. The SDGs of the UN place a high priority on addressing climate change, which has led corporations and governments to look for consultancy help in reaching the SDGs.

"Financial Implications and Public Awareness to Raise the Market Share"

The need for consultancy services to direct government and corporate action in response to growing public awareness and concern about climate change issues has resulted in a demand for the services. More people are in need of consulting services to support these projects because environmental activists and non-governmental organisations (NGOs) raise awareness and push for policy reforms. As governments and corporations are forced to take action due to growing public awareness and concern about climate change challenges, there is a growing need for consulting services to help direct these initiatives. A rise in the need for consulting services to support these projects is caused by environmental activists and non-governmental organisations (NGOs) who raise awareness and influence policy. There is a growing need for consultation on risk assessment and mitigation methods as financial institutions and corporations become more aware of the financial concerns linked to climate change. There is a growing demand for consultancy support to deploy green bonds, sustainable investments, and other financial structures.

RESTRAINING FACTORS

"Complexities and Uncertainties to Restrain the Market Growth"

There are many different scientific, social, political, and economic aspects to the complex problem of climate change. Consulting solutions must fully address this complexity. It is difficult to identify and address climate issues on their own since they are frequently entwined with other global issues including poverty, inequality, and political instability. Because Earth's processes are complex and climate models have limits, it is difficult to predict the precise effects of climate change at particular areas and timescales. Human decisions and societal shifts have an impact on climate change, yet these factors are difficult to forecast with precision. These system complexities and the uncertain factors combined have a substantial influence on climate change consulting market growth.

REGIONAL INSIGHTS

"Asia Pacific Region to Dominate the Market with Renewable Energy Adoption and Sustainable Practices"

In terms of revenue, the Asia Pacific region dominated, accounting for the major climate change consulting market share. China, being among the top emitters of greenhouse gases globally, has been making significant investments in renewable energy and environmental consultancy services as a means of reducing its environmental footprint. India has experienced an increase in climate change consulting with an emphasis on sustainable development, especially in sectors like energy efficiency, climate resilience, and renewable energy. Due to their leadership in the adoption of sustainable practises and renewable energy, these nations are in high demand for consultancy services related to mitigating and adapting to climate change.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The industry is tremendously competitive, with numerous global and regional companies. Major players are contemplating numerous plans such as mergers and acquisitions, collaborations, the introduction of new and improved products, and joint ventures.

List of Market Players Profiled

• CH2M HILL Companies, Ltd. (Jacobs Engineering Group) (U.S.)
• Green Order (U.S.)Sustainability (U.K.)
• ICF International (U.S.)
• ClearSky (U.S.)
• KPMG International (The Netherlands)
• ERM Group, Inc (U.K.)
• Ramboll Environ, Inc. (U.S.)
• Bain & Company (U.S.)
• Deloitte (U.K).

REPORT COVERAGE

The report includes a SWOT analysis as well as information on potential developments.The examination of a variety of elements that encourage market expansion is included in the research report. This section also includes a wide range of market categories and applications that may have an impact on the market in the future. The details are based on current trends as well as historical turning moments.The current situation of the market's components and prospective growth areas in the coming years.