Strong government intervention makes the region a leader in green manufacturing technologies, finds Frost & Sullivan
LONDON, Oct. 26, 2015 /PRNewswire/ -- As the disastrous implications of global warming become clearer, the worldwide community has begun corrective actions in earnest to create a low carbon economy. A major part of these efforts involve the propagation of low carbon manufacturing technologies and techniques, which not only reduce the effects of global warming but also offer tremendous cost benefits in the long term.
New analysis from Frost & Sullivan, Technology Trends Impacting Low Carbon Manufacturing (http://www.frost.com/d67e), finds that renewable energy technologies, carbon capture and storage technologies, waste management solutions, and energy-efficient technologies are among the many enablers for low carbon manufacturing. Energy efficient best practices for industries, in particular, can directly impact their carbon footprint.
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In the industrial sector, low carbon technologies are creating a value proposition that rivals existing high-carbon technologies in terms of the societal benefits they offer. Nevertheless, wide-scale adoption by industries will require a significant boost in the commercial value of low carbon technologies.
"A crucial pillar of economies, the industrial manufacturing sector is also the biggest contributor to greenhouse gas emissions making its adoption to low carbon technologies vital for creating a sustainable, green economy world over," noted TechVision Research Analyst Karthik Vishal Lakshmanan. "The rapid adoption of low carbon manufacturing practices in this sector is thus an encouraging trend. However, strict policies mandating low carbon manufacturing practices are essential to ensure faster and widespread uptake across all industries."
In the European Union, governments' initiatives to promote low carbon manufacturing will ensure the steady uptake of enabling technologies. The United Kingdom, with its early commitments to considerably reduce its carbon footprint by 2020, will set new standards and benchmarks in low carbon manufacturing. For instance, the UK government earmarked a fund of one billion pounds to promote Advanced Propulsion Centre, a collaboration of innovators and industry experts to address low carbon technologies in the automotive sector.
"With the introduction of government policies to build a low carbon economy across the globe, novel business models and new markets for businesses have emerged," highlighted Lakshmanan. "Government policies have also created a huge resource pool for investment in low carbon technologies. Along with the support from non-governmental organisations and regulatory bodies, the strategies that are implemented to create a low carbon environment in all sections of the economy will bolster sustainable development and secure the future of the planet."
Technology Trends Impacting Low Carbon Manufacturing, a part of the TechVision subscription, provides an overview of the various technologies that facilitate low carbon emissions from the industrial manufacturing sector, key technological/business challenges influencing the implementation of these technologies, and emerging market needs likely to shape R&D efforts in the near future. The study also details budgetary trends in the automotive manufacturing segment and offers insights into the road ahead for adaptation of low carbon manufacturing in different industries.
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Technology Trends Impacting Low Carbon Manufacturing
SOURCE Frost & Sullivan