Latest news with #GreenTransformation
Yahoo
13-05-2025
- Business
- Yahoo
Dialogue on Collaboration to Address Challenges: International Symposium on Global Climate Governance and Green Transformation in Shanghai
BEIJING, May 13, 2025--(BUSINESS WIRE)--The International Symposium on Global Climate Governance and Green Transformation was held in Shanghai on April 9. Experts from China, the U.S., Italy, Japan, South Korea, India, and international organizations — including representatives from Peking University, the Chinese Academy of Social Sciences (CASS), Shanghai Academy of Social Sciences, Tongji University, China Eastern Airlines (CEA), NYU Shanghai, the EU-Asia Centre, King's College London, and Kookmin University — engaged in constructive discussions on mechanisms for collaborative climate governance. Dr. Liu Yuanling, scholar from the Chinese Academy of Social Sciences (CASS), emphasized that climate change is a critical challenge for all humanity, and underscored its commitment to advancing climate governance through emission reduction, mitigation, and adaptation strategies, guided by the vision of building a "community with a shared future for mankind." Efforts to promote ecological civilization and a "Beautiful China" will continue alongside enhanced global cooperation. Furthermore, she referred to collaborating with stakeholders worldwide to actively contribute to addressing climate change. During the on-site case-sharing session, representatives from China Eastern Airlines (CEA) presented the company's practices and achievements in the field of sustainable aviation technologies. In recent years, CEA has made many notable breakthroughs in new energy airport equipment, driven by independent R&D and international collaboration. CEA's innovations have garnered global attention at industry exhibitions and facilitated multiple cross-border partnerships. This international symposium concluded successfully, offering valuable insights into global climate governance through the exchange of ideas. As emphasized in the discussions, effective climate actions must go beyond short-term policy shifts, strengthen mechanisms for cooperation, and promote joint efforts to advance green and low-carbon development on a broader scale. View source version on Contacts Company: Chinese Academy of Social Sciences, CASSContact Person: Liu YuanlingEmail: liuyuanling@ Website: Telephone: (86)18610846689
Yahoo
12-05-2025
- Business
- Yahoo
Japan Mobile Accessories Market to Worth Over US$ 34.23 Billion by 2033
Sony, Panasonic, and Apple thrive via cultural precision, demographic targeting, and ecosystem leverage, respectively. Their strategic alignment with Japan's tech-savvy, aging, and status-driven consumers cements dominance in this nuanced market. Chicago, May 12, 2025 (GLOBE NEWSWIRE) -- The Japan mobile accessories market was valued at US$ 18.40 billion in 2024 and is expected to reach US$ 34.24 billion by 2033, growing at a CAGR of 7.25% during the forecast period 2025–2033. Japan's mobile accessories market remains robust, underpinned by the nation's tech-savvy consumer base and relentless innovation. With over 96% smartphone penetration—among the highest globally—demand for accessories is sustainably high, driven by annual smartphone shipments of ~30 million units. Apple dominates handset sales (58% share), creating a loyal customer base for its MFi-certified accessories, which account for 65% of premium accessory revenue. However, local players like Sony carve niches through culturally resonant designs, such as anime-themed wireless earbuds (e.g., Demon Slayer collabs) that claimed 22% of Q1 2024 sales. Panasonic's durable, eco-conscious products, like bamboo-fiber cases and refurbished chargers, appeal to Japan's aging population and sustainability mandates, capturing 19% of rural markets. Key trends include 5G-compatible fast chargers (18% adoption growth) and ruggedized gear for harsh climates, such as Elecom's -20°C-rated power banks (¥12,800), popular in Hokkaido. Download Free Sample Copy: Emerging niches, policy shifts, and hybrid workstyles further fuel growth of the Japan mobile accessories market. The government's ¥2.4 trillion 5G rollout has spurred demand for low-latency earphones (30% YoY growth) and multi-device docks like Buffalo's One Cable Dock (¥28,000), which sold 720,000 units in 2023. Senior-focused products, such as Fujitsu's arthritis-friendly stylus (210,000 units sold), address Japan's aging population (29% over 65). Meanwhile, VTuber collaborations and gaming accessories, like Razer's 0.2ms-response earbuds (¥45,000), drive 27% of youth purchases. Conbini chains like Lawson leverage 'tech snack' corners (26% of sub-¥3k sales) for impulse buys, while Amazon Japan's logistics enable same-day delivery of essentials. Seasonal gifting cycles (31% of annual sales) and Green Transformation tax incentives (e.g., ¥2,000 rebates for solar chargers) sustain demand. With Japan prioritizing tech integration and sustainability, accessories that blend utility, cultural relevance, and eco-compliance will remain critical growth drivers. Key Findings in Japan Mobile Accessories Market Market Forecast (2033) US$ 34.24 billion CAGR 7.25% By Product Type Safety Devices (41.95%) By Pricing Range Mid-range ($40–$100) (52.80%) By Distribution Channel Offline (64.03%) Top Drivers High smartphone penetration rates drive demand for accessories. Growing preference for compact, multifunctional mobile accessory designs. Increased adoption of wearable tech integration in daily life. Top Trends Surge in demand for eco-friendly, recyclable accessory materials. Rising popularity of anime-themed and customizable accessory designs. Expansion of wireless charging-compatible device accessories market. Top Challenges Intense competition from domestic and international accessory brands. Regulatory compliance with stringent safety and quality standards. Consumer reluctance toward premium-priced accessories amid inflation pressures Cultural Influence on Premiumization: Omotenashi-Driven Product Design Japan's mobile accessories market is synonymous with omotenashi (customer-first perfectionism), where 79% of premium accessory sales are driven by ultra-durable designs and bespoke aesthetics. A 2024 survey by the Japan Electronics and Information Technology Industries Association (JEITA) revealed that luxury iPhone 15 cases from Porter Yoshida & Co., priced at ¥60,000–¥120,000, account for 12% of Tokyo's premium accessory revenue. These products emphasize hand-stitched leather and RFID-blocking tech, catering to high-net-worth individuals in neighborhoods like Ginza and Roppongi. Mid-tier brands leverage traditional craftsmanship to compete in the mobile accessories market of Japan. For example, Kyoto-based WACUL integrates kintsugi (gold-repair art) into tempered glass screen protectors (¥9,800), achieving 34% YoY growth in female buyers aged 30–50. Even value brands like QI-Case use washi paper from Tosa (Kochi Prefecture) for eco-friendly cases, capturing 9% of the ¥3,000–¥5,000 segment. Cultural sustainability is critical: 47% of consumers prioritize locally made materials, and Kyoto Prefecture's Artisan Accessories Initiative reports a 28% sales spike for prefectural-certified products since 2023. Regional Microtrends: Hokkaido's Rugged Needs vs. Tokyo's Smart City Tech Regional disparities in the Japan mobile accessories market are stark. In Hokkaido, where winter temperatures drop below -15°C, 62% of accessories sold are ruggedized, per Rakuten Insights (2024). Elecom's -20°C-rated power banks (¥12,800) dominate with 18% market share, while Snow Peak's outdoor-focused phone mounts (¥15,000) saw 22% sales growth in 2023–2024. Conversely, Tokyo's Society 5.0 smart city push has fueled demand for NFC-enabled accessories. KDDI's 'Smart Suica' wallet cases—embedded with prepaid transit cards—sold 530,000 units in Tokyo in Q1 2024 alone. Meanwhile, Panasonic's solar-powered phone straps (¥3,990) in the mobile accessories market, designed for the Tokyo Metropolitan Government's Green Tech Program, achieved 94% adoption among municipal workers. The Osaka Expo 2025 effect is already visible: Sharp's foldable solar chargers (¥22,000) saw 37% sales spikes in Kansai, driven by tourist pre-bookings. Policy-Driven Shifts: E-Waste Laws and 5G Infrastructure Impact Japan's Revised Recycling Act (April 2024) mandates that 85% of mobile accessories sold must be recyclable or biodegradable. This forced Anker to pivot to Sugi wood-based GaN chargers (¥7,800), slashing plastic use by 58% and winning 15% of eco-conscious buyers. Similarly, Panasonic's device refurbishment program in Osaka reduced e-waste by 8,000 metric tons in 2023, with ¥8,500 refurbished batteries ranking as its third-best-selling accessory. Moreover, the government's ¥2.4 trillion 5G expansion directly boosted sales of 5G-ready accessories. Docomo's '5G Pro Kit' (240W car charger + anti-interference cables) sold 410,000 units post-launch, with 92% customer satisfaction in the Japan mobile accessories market, per Nikkei (2024). Rakuten's 2024 data shows that 74% of users in Aichi and Fukuoka upgraded to 5G-compatible accessories in the past year, prioritizing low-latency earphones (¥18,000–¥45,000 range). Retail Rituals: Seasonal Gifting Cycles and Conbini Dominance Seasonal ochugen (summer) and seibo (year-end) gifting traditions drive 31% of annual accessory sales In Japan mobile accessories market. Mitsukoshi's ¥25,000+ designer power banks, featuring collaborations with artists like Yayoi Kusama, contribute 19% of their Q2 revenue. Meanwhile, Loft's 'Work & Play' gift bundles (¥8,800) sold 140,000 units in December 2023, with 68% purchased by corporate clients, per Loft sales reports. Moreover, convenience stores (conbini) dominate impulse purchases. Lawsons' 'Tech Snack' corners hold 26% market share in sub-¥3,000 accessories, with ¥990 USB-C cables and Sanrio-themed screen cleaners as top sellers. A 2024 FamilyMart survey found 72% of buyers aged 18–25 purchased mobile accessories during late-night visits, driven by 24/7 accessibility. Partner campaigns, like 7-Eleven's ¥1,490 'Gacha Chargers' (random anime designs), boosted foot traffic by 33% in Q1 2024. Emerging Niche: Accessories for Japan's Aging Population Japan's mobile accessories market is adapting to its super-aged society, where 29.1% of the population is over 65 (2024 Cabinet Office data). Specialized accessories targeting seniors have surged, driven by accessibility and healthcare needs. Fujitsu's "EasyGrip" stylus (¥6,800), designed with ergonomic handles for arthritis sufferers, sold 210,000 units in FY2023, per the company's annual report. Similarly, Zoff Mobile's clip-on magnifiers (¥4,500), which amplify smartphone screens by 200%, captured 22% of the senior accessory market, according to a 2024 Nikkei Aging Tech Survey. Voice-activated accessories are gaining traction among older adults. KDDI's Talking Power Bank (¥9,800), which announces remaining battery life in Japanese, achieved 89% adoption in nursing homes across Fukuoka and Hyogo. MedTech startups like CareTech Solutions also report a 145% YoY increase in sales of fall-detection phone straps (¥12,000), partly due to subsidies from 17 prefectures under Japan's Silver Tech Promotion Act. Nearly 41% of seniors prioritize accessories that integrate with healthcare apps like COCOKARA Health, reflecting Japan's focus on tech-enabled elder care. Gaming and VTuber Boom Drive Accessory Innovation Japan's ¥812 billion gaming industry (2024 Famitsu report) is reshaping the mobile accessories market through collaborations and tournament-grade tech. Bandai Namco's Monster Hunter-themed controller grips (¥7,990) sold out within 3 hours of their April 2024 launch, with 92% of buyers male and aged 18–35. VTubers (virtual YouTubers) like Kuzuha and Kizuna AI have driven ¥34 billion in accessory sales via exclusive merch. For example, Hololive's holographic phone stands (¥18,000) sold 65,000 units in Q1 2024, per Tokyo Anime News. Professional gaming demands low-latency gear in the Japan mobile accessories market. Razer's Japan-exclusive Hayabusa Pro wireless earbuds (¥45,000), with 0.2ms response times, command 31% of the competitive gaming segment. Meanwhile, domestic brand Elecom's cooling phone grips (¥3,990), which reduce overheating during live streams, saw 27% sales growth post-Collab with VTuber agency Nijisanji. The 2024 Osaka Esports Expo further boosted demand, with 74% of attendees purchasing at least one accessory, per event organizers. Workstyle Reform Driving Demand for Hybrid Office Essentials Japan's 2023 Workstyle Reform Law, mandating remote work options for 60% of companies, has fueled demand for hybrid office accessories. Buffalo's "One Cable Dock" (¥28,000), which connects up to 4 devices and integrates with Japan's My Number Card system, sold 720,000 units to government and corporate clients in 2023–2024, per METI. Noise-canceling headsets are also critical: Sony's WH-1000XM5 (¥42,800) dominates 38% of the B2B market, with 83% of remote workers citing reduced fatigue in a 2024 Rakuten Workplace Survey. "Digital detox" accessories are rising to address burnout in the Japan mobile accessories market. Nakabayashi's FocusBox (¥8,800), a time-lock smartphone case, sold 95,000 units in Q1 2024, driven by compliance with Japan's Right to Disconnect guidelines. Meanwhile, Omron's blue light-filtering clip-ons (¥3,200) are now reimbursed by 19% of employers under corporate wellness programs. With 68% of hybrid workers prioritizing ergonomic accessories, Sanwa Supply's foldable laptop stands (¥6,800) achieved 45% YoY growth. Need Custom Data? Let Us Know: Dominance Analysis: Sony, Panasonic, and Apple Collectively Hold over 38% Market Share in Japan's Mobile Accessories Market Sony's dominance in Japan's mobile accessories market with over 16.38% market share stems from its legacy of precision engineering and deep cultural alignment. The company holds 38% of Japan's premium wireless audio segment, driven by its WF-1000XM5 earbuds (¥34,800), which uniquely integrate AI-adaptive noise cancellation and 360 Reality Audio for immersive gaming and commuting—features prioritized by 72% of urban professionals in a 2024 JEITA survey. Sony leverages Japan's affinity for ecosystem loyalty: its accessories seamlessly pair with Xperia smartphones and PlayStation VR headsets, creating stickiness among users. Collaborations with anime franchises like Demon Slayer (limited-edition LinkBuds S) drive 19% of Q2 2024 sales, tapping into Japan's ¥2.6 trillion anime merch market. Additionally, Sony's Green Management 2025 initiative, which uses 85% recycled plastics in charging cases, aligns with Japan's eco-conscious shift, winning over 31% of sustainability-focused buyers. Panasonic commands 12% of Japan's mobile accessories market, rooted in reliability and tailored solutions for aging demographics. Its Toughbook Rugged Case (¥12,900), shockproof and water-resistant, is adopted by 65% of construction and elderly users in rural prefectures like Fukushima. The brand's Re-Make Program, refurbishing accessories with 1-year warranties, diverted 11,000 tons of e-waste in 2023, resonating with Japan's Circular Economy Law. Panasonic's Qi-enabled Power Banks (¥7,800) dominate conbini shelves, with a 33% share in sub-¥10k chargers, due to partnerships with Lawson and FamilyMart. Notably, its Care Connect line—featuring hearing aid-compatible Bluetooth neckbands (¥15,000)—serves 18% of seniors, per METI's Aging Tech Whitepaper. Regional distribution via ASKUL's logistics network ensures 48-hour restocking in Hokkaido and Kyushu, critical for maintaining rural loyalty. Apple controls 9.66% of Japan's mobile accessories market revenue, owing to iPhone's 58% market share and MFI certification's trust. AirPods Pro 2 (¥35,800) and MagSafe wallets (¥6,490) dominate, with 89% of iPhone owners buying at least one Apple accessory annually. Exclusive features like Suica card integration in Apple Watch bands (¥8,800) drive 41% of Tokyo-based sales, blending utility with status. Apple's retail strategy—flagship stores in Ginza and Shibuya—fuels "touch-and-try" conversions, contributing to ¥214 billion in 2023 accessory sales. Meanwhile, partnerships with SoftBank bundle accessories with 5G plans, capturing 31% of postpaid users. Despite premium pricing, Japan's "second wallet" mindset sees 63% of Gen Z purchasing Apple accessories as fashion statements, per Shinsei Bank's 2024 Consumer Report. Japan Mobile Accessories Market Major Players: Panasonic Corporation Sony Group Corporation Elecom Co., Ltd. Napolex Co., Ltd. Velbon Tripod Co., Ltd. Other Prominent Players Key Segmentation: By Product Type Power Accessories Batteries Chargers Wall Chargers Wireless Chargers Magnetic Wireless Chargers Charging Pads & Stands Car Chargers Charging Docks Power Banks Standard Fast Charging Solar Power Banks Cables & Adapters USB-C, Lightning, Micro-USB OTG Adapters Screen Magnifiers Stylus Pen NFC/Smart Tags Gaming Accessories Gamepads/Controllers Joy Sticks Cooling Fans Audio Devices Earphones Wired Wireless (Neckband) Earbuds (TWS) Headphones Wired Bluetooth Over-Ear/On-Ear/In-Ear Speakers Bluetooth Speakers Smart Speakers Rugged Speakers Safety Devices Screen Protectors/Guard Tempered Glass Privacy Glass Anti-glare Films Protective Cases & Covers Silicone/TPU/Leather/Hybrid Rugged Designer/Custom Mobile Holders & Mounts Memory & Storage Devices microSD Cards OTG Flash Drives Mobile Photography Accessories Selfie Sticks Clip-on Lenses LED Flash Accessories Others Smart Wearables SIM Card Ejector Tools Cleaning Wipes Skins/Stickers Others By Price Range Premium (Over $100) Mid-range ($40 - $100) Budget/Economy (Under $40) By Distribution Channel Online E-Marketplace Brand Websites Offline Supermarkets & Hypermarkets Retail Stores Specialty Stores Need More Info? Ask Before You Buy: About Astute Analytica Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements. With a team of experienced business analysts, economists, and industry experts, we deliver accurate, in-depth, and actionable research tailored to meet the strategic needs of our clients. At Astute Analytica, our clients come first, and we are committed to delivering cost-effective, high-value research solutions that drive success in an evolving marketplace. Contact Us:Astute AnalyticaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)For Sales Enquiries: sales@ Follow us on: LinkedIn | Twitter | YouTube CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@ Website: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
15-04-2025
- Business
- Forbes
Why Japan's Emerging Carbon Market Could Reshape Global Trading
Mt. Fuji and Tokyo skyline In a world increasingly obsessed with gigaton-scale solutions and trillion-dollar climate pledges, it's easy to overlook policy experiments that don't grab headlines. But every so often, a quiet reform starts to reshape the rules of the global climate game. Japan's carbon market is one of those. Over the past two years, Japan has been rolling out what could become Asia's second-largest emissions trading system. It's not flashy. It's not even mandatory—yet. But it may offer a new blueprint for carbon pricing in advanced and emerging economies alike, combining voluntary corporate participation, generous public funding, and a phased shift toward compliance. If you want to understand where global carbon markets are headed—not just in Brussels or Beijing, but in Jakarta, Seoul, or São Paulo—Japan is worth watching. Japan's 'GX' stands for Green Transformation, and the initiative is more than just a rebranding exercise. The GX-League, launched in 2022, convenes over 550 companies that collectively account for more than half the nation's emissions. Their participation is voluntary, but their commitment is real: each is expected to set climate targets, share data, and align their strategies with national net-zero goals. This isn't just a soft launch for corporate sustainability. It's a staging ground for future regulation. Then came the GX-ETS in 2023: a voluntary emissions trading system (ETS) that's really a dress rehearsal for the main act. By 2026, the GX-ETS will become a compliance-based regime, where major emitters must buy and trade allowances. And by 2033, it will feature auctions for those allowances—ushering in price discovery, market liquidity, and, potentially, a carbon cost that bites. In other words, Japan is building a carbon market with training wheels—and then slowly taking them off. One of the most underappreciated features of Japan's GX strategy is the scale of state support. The government has pledged a staggering $1 trillion over ten years to support decarbonization—channeling capital into carbon removal, low-carbon fuels, shipping pilots, hydrogen hubs, and steel decarbonization via biocoke. This isn't tinkering; it's climate industrial policy with a distinctly Japanese flavor: collaborative, consensus-based, and deeply rooted in corporate networks. Most of this funding will flow to GX-League members. That's intentional. Japan is betting on the private sector to lead the charge, backed by public capital and clear (if evolving) policy signals. There are questions—big ones—about fairness, market efficiency, and whether this system will ultimately deliver real emissions cuts. But there's also a quiet genius here. By pairing voluntary participation with public money, Japan is turning climate policy into a competitive advantage—and giving companies a reason to move early. Another piece of the puzzle is the Tokyo Stock Exchange's new carbon credit market. As of early 2024, 249 participants were trading J-Credits—domestic offsets tied to energy efficiency and emissions reduction projects. In April 2025, Tokyo added a new platform (the Tokyo Carbon Credit Market) using blockchain for transparency and ease of access. But here's the catch: J-Credits don't yet cover engineered carbon removal like direct air capture, and their compatibility with international systems like the EU ETS or Europe's Carbon Border Adjustment Mechanism (CBAM) is still unclear. Will Japanese credits be recognized abroad? Will they be convertible into other units? These questions matter—not just for Japan, but for the future of international carbon finance. For all its ambition, Japan's carbon market is still a work in progress. Critical details remain unresolved: What are the actual emissions caps by sector? Which companies will be subject to compliance rules? What qualifies as acceptable domestic content in clean energy or offset projects? These gaps are challenges—but they're also opportunities. The GX-ETS is still fluid enough that early movers (and savvy investors) could help shape its future architecture. For foreign companies, climate finance players, and Asian governments watching from the sidelines, Japan's carbon market is a living case study in iterative climate governance. Here's the big question: is Japan's carbon market a transitional model for leading economies—or an elaborate climate showpiece with limited bite? There's a case for optimism. Japan has built a platform that lowers the barrier to entry, provides real financial support, and aligns business incentives with national climate targets. It's a pragmatic response to political and economic constraints—and it's more ambitious than it looks. There's also a case for caution. Without hard caps, credible enforcement, and transparent benchmarks, voluntary markets can become performative. As the GX-ETS shifts from voluntary to mandatory, the world will see whether Japan is serious about market-driven decarbonization—or just buying time. Japan's carbon market may not yet move the global price of carbon. But it does something else—something arguably more important. It provides a testbed for a new kind of climate capitalism: cooperative, phased, publicly supported, and domestically led. If it works, the GX-League and GX-ETS could offer a replicable model for nations navigating the messy terrain between economic growth and emissions reduction. In a decade where climate ambition will be defined not just by targets but by market design, Japan's quiet revolution might just prove to be a tipping point. Disclaimer: I work for Canadian carbon removals project developer, Deep Sky
Trade Arabia
03-04-2025
- Automotive
- Trade Arabia
Five energy techs projected to reach $2t market by 2035
The global market for electric vehicles, electrolysers, heat pumps, solar photovoltaic (PV), and wind turbines is projected to nearly triple to reach $2.1 trillion by 2035, according to the International Renewable Energy Agency (IRENA). In its World Energy Transitions Outlook 2024, IRENA emphasised that carbon dioxide removal is one of the most dynamic sectors of the past decade, with the number of startups in the field increasing sevenfold. More than 140 companies are now developing carbon removal solutions, reported WAM. Around 30 carbon capture and storage facilities are currently operational across Europe, North America, Japan and the Middle East. However, most of these are small-scale plants, with only five facilities capturing over 1,000 tonnes of carbon dioxide per year. Their combined capture capacity exceeds 17,000 tonnes annually, although commercial agreements for carbon sales or storage remain limited. The agency highlighted a prominent example from the UAE: the project by Adoc and 44.01 in Fujairah, which converts captured carbon dioxide into rock. The venture successfully stored 10 tonnes of carbon dioxide in 2024 in under 100 days, making it one of the leading global innovations in energy technology. IRENA noted that public spending on energy research and development continues to rise, with global investment reaching $50 billion in 2023 — a five percent increase over 2022. Further growth is expected in 2024 and subsequent years. Preliminary estimates for 2024 indicate slower year-on-year growth in public energy R&D spending in the United States and Canada. In contrast, Japan and Norway are experiencing the largest increases. Japan's Green Transformation initiative is driving competitiveness in battery technologies, while Norway is significantly boosting funding for renewable energy and hydrogen R&D. The report also underlined the strong role of the private sector in advancing energy innovation. Corporate R&D spending in energy has grown at three times the pace of the GDP of IRENA member countries. Automotive companies are leading the charge, with 13 out of the top 20 firms by energy technology R&D budget coming from the vehicle manufacturing sector.
Al Etihad
02-04-2025
- Automotive
- Al Etihad
Five energy technologies projected to reach $2 trillion market by 2035
2 Apr 2025 15:27 ABU DHABI (WAM) The global market for electric vehicles, electrolysers, heat pumps, solar photovoltaic (PV), and wind turbines is projected to nearly triple to reach $2.1 trillion by 2035, according to the International Renewable Energy Agency (IRENA).In its World Energy Transitions Outlook 2024, IRENA emphasised that carbon dioxide removal is one of the most dynamic sectors of the past decade, with the number of startups in the field increasing than 140 companies are now developing carbon removal 30 carbon capture and storage facilities are currently operational across Europe, North America, Japan, and the Middle most of these are small-scale plants, with only five facilities capturing over 1,000 tonnes of carbon dioxide per year. Their combined capture capacity exceeds 17,000 tonnes annually, although commercial agreements for carbon sales or storage remain agency highlighted a prominent example from the UAE: the project by ADNOC and 44.01 in Fujairah, which converts captured carbon dioxide into venture successfully stored 10 tonnes of carbon dioxide in 2024 in under 100 days, making it one of the leading global innovations in energy noted that public spending on energy research and development continues to rise, with global investment reaching $50 billion in 2023 — a five percent increase over 2022. Further growth is expected in 2024 and subsequent estimates for 2024 indicate slower year-on-year growth in public energy R&D spending in the United States, and contrast, Japan and Norway are experiencing the largest Green Transformation initiative is driving competitiveness in battery technologies, while Norway is significantly boosting funding for renewable energy and hydrogen R& report also underlined the strong role of the private sector in advancing energy R&D spending in energy has grown at three times the pace of the GDP of IRENA member countries. Automotive companies are leading the charge, with 13 out of the top 20 firms by energy technology R&D budget coming from the vehicle manufacturing sector.
