{"id":457170,"date":"2021-03-15T07:00:39","date_gmt":"2021-03-15T11:00:39","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=457170"},"modified":"2021-03-15T07:00:39","modified_gmt":"2021-03-15T11:00:39","slug":"decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/","title":{"rendered":"Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdecimal { list-style-type: decimal }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research<\/b><\/p>\n<p class=\"bwalignc\"><i>Report highlights hydrogen as most promising new technology for significantly decarbonizing industrial operations<\/i><\/p>\n<p>FRANKFURT, Germany&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nHeavy industrial companies in Europe could generate more than 200 billion euros annually in net value through decarbonization by 2030, according to new research from Accenture (NYSE: ACN). Accenture\u2019s new report, \u201c<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.accenture.com%2Fus-en%2Finsights%2Fconsulting%2Fenergizing-industrial-decarbonization-europe&amp;esheet=52395342&amp;newsitemid=20210314005010&amp;lan=en-US&amp;anchor=Energizing+Industry&amp;index=1&amp;md5=f16bcad060fb2fb3dddce4582bff1895\">Energizing Industry<\/a>,\u201d reveals this decarbonization will require coordination between the public and private sectors.\n<\/p>\n<p>\nWhile future prices for carbon dioxide (CO<sub>2<\/sub>) emissions and green electricity remain uncertain, the research predicts the annual net value of industrial decarbonization will more than double between 2020 and 2030 \u2013 from around 100 to just over 200 billion euros per year. Accenture analysis of existing and emerging technologies suggests this figure will stabilize between 2030 and 2040.\n<\/p>\n<p>\nHowever, new technological innovations are expected to emerge, which could lead to growth in value continuing over time. Most transformative solutions, including electrification technologies and the process of capturing waste CO<sub>2<\/sub>, known as carbon capture, are not yet financially attractive compared to unabated natural gas, prompting many companies to focus on increasing efficiency in industrial processes.\n<\/p>\n<p>\n\u201cIndustrial companies across Europe are struggling with uncertainty around the fragmented regulatory environment, infrastructure challenges, the development of key technologies and their pricing,\u201d said G\u00f6tz Erhardt, a senior managing director at Accenture who leads the Resources industries group in Germany, Austria and Switzerland. \u201cThat\u2019s why decarbonization efforts are not progressing fast enough, despite the potential for innovation and value creation. However, public and financial support is at an all-time high, and, as key enablers of the energy transition, European industrial companies need to reimagine their operations at a faster pace.\u201d\n<\/p>\n<p><b>Hydrogen is the most promising technology for significant decarbonization progress in heavy industry<\/b><\/p>\n<p>\nThe report shows that firms are already taking action \u2013 40% of investments during the past five years were linked to decarbonization, including investments in renewables, hydrogen, intelligent cloud and energy distribution.\n<\/p>\n<p>\nEven so, an evaluation of all global CO<sub>2<\/sub> patent filings since 2013 revealed that the growth of new technologies or applications for the mitigation of or adaptation to climate change may be slowing. Instead, patents are increasingly focused on cost advantages and scale, indicating technological maturity.\n<\/p>\n<p>\nHowever, Accenture analysis reveals European industrial firms are still investing in some new areas. Chemical companies are spending heavily on 3D printing, biofuels, hydrogen and battery technology; energy companies are more focused on platform ecosystems, cloud technologies and renewable energy; and mining, metals and building materials companies are concentrating larger investments in energy distribution and chemicals, such as hydrogen.\n<\/p>\n<p>\nFor heavy industry, the report suggests hydrogen could significantly reduce emissions in operations, as it could partially replace conventional fuels. The total net value of hydrogen adoption is forecast to increase from around 20 to 100 billion euros annually between 2020 and 2040. As a comparison, switching to natural gas would follow a decreasing trend, from generating 11 billion euros in total net value in 2020 to 6 billion euros in 2040.\n<\/p>\n<p><b>Private and public sector coordination required to accelerate industrial decarbonization<\/b><\/p>\n<p>\nThe heavy industrial firm executives interviewed for this research indicated they are ready to drive the change required to accelerate industrial decarbonization, although it will be key to work with government leaders on this complex transition. Without robust action from the public sector, industrials will be at competitive risk, so innovation and collaboration between the sectors will be critical to ensure they can deliver additional value from industrial decarbonization.\n<\/p>\n<p>\nEuropean industrial firms could take these actions:\n<\/p>\n<ol class=\"bwlistdecimal\">\n<li>\nFocus quickly on driving efficiency and identify new business models, for example, by benchmarking against industry peers and leaders.\n<\/li>\n<li>\nAdopt new technologies, more expansive carbon-pricing efforts, joint investments and alliances across the value chain and improved supplier pre-qualification, based on carbon footprint.\n<\/li>\n<li>\nFoster an innovative entrepreneurial culture, enabling them to pivot to new opportunities ahead of their industry peers.\n<\/li>\n<\/ol>\n<p>\nAdditionally, targeted public sector intervention in the following areas could help facilitate a successful industrial transition to a carbon-free economy. This includes:\n<\/p>\n<ol class=\"bwlistdecimal\">\n<li>\nImplementing a framework that ensures companies are able to successfully internalize carbon&#8217;s hidden cost.\n<\/li>\n<li>\nSetting a precise and robust carbon price mechanism with a significant base price, increasing predictably over time as a guide to technological innovation and investment.\n<\/li>\n<li>\nStimulating the hydrogen economy on both the supply and demand sides through a broad set of measures, including quotas and tax breaks.\n<\/li>\n<\/ol>\n<p>\n\u201cIndustrial decarbonization in Europe is a major opportunity for both energy producers and industrial energy customers,\u201d added Erhardt. \u201cBut while they are capable of driving transformational change and redefining business models, they need support from the public sector, given the investments required and the uncertainty of the pace and scope of technological innovation. Successful industrial decarbonization requires a multi-faceted approach with the public and private sectors working in coordination to ensure Europe retains its competitive advantage.\u201d<strong><span style=\"font-weight:normal\" \/><\/strong><\/p>\n<p><strong>Research Methodology<\/strong><\/p>\n<p>\nAccenture\u2019s decarbonization value modeling analyzes the cost reduction potential from applying new energy technologies in selected heavy industrial sectors in Europe. The model addresses expected changes in the heavy industrial sector supply and demand and the impact on energy consumption, while comparing selected technology solutions based on the production, energy and emission costs, to predict the most attractive alternative to incumbent energy technologies. Additionally, in exploring how the energy transition has progressed in recent years, Accenture conducted a patent and investment analysis. To assess the qualitative implications of the energy transition for European industrial companies and validate the outcomes of the other analyses, Accenture also conducted expert interviews with a study group of 30 companies.\n<\/p>\n<p>\nIn this report, Accenture defines \u201cindustrial companies\u201d those that serve heavy industry, both the providers of energy (from the utilities and energy industries) as well as those that are significant energy consumers (chemicals, steel, metals and cement industries).\n<\/p>\n<p><strong>About Accenture <\/strong><\/p>\n<p>\nAccenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services\u2014all powered by the world\u2019s largest network of Advanced Technology and Intelligent Operations centers. Our 514,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.accenture.com&amp;esheet=52395342&amp;newsitemid=20210314005010&amp;lan=en-US&amp;anchor=www.accenture.com&amp;index=2&amp;md5=333f17cd1a8b6c1458eed111018ec692\">www.accenture.com<\/a>.\n<\/p>\n<p>\nDisclaimer: Copyright \u00a9 2021 Accenture. All rights reserved. Accenture and its logo are registered trademarks.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210314005010r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210314005010\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210314005010\/en\/<\/a><\/span><\/p>\n<p>\nDiana B\u00fcchner<br \/>\n<br \/>Accenture<br \/>\n<br \/>06173 94-69081<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:diana.buechner@accenture.com\">diana.buechner@accenture.com<\/a><\/p>\n<p>\nMatt Corser<br \/>\n<br \/>Accenture<br \/>\n<br \/>+44 755 784 9009<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:matthew.corser@accenture.com\">matthew.corser@accenture.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Germany Europe<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Data Management Technology Utilities Energy Software Networks<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research Report highlights hydrogen as most promising new technology for significantly decarbonizing industrial operations FRANKFURT, Germany&#8211;(BUSINESS WIRE)&#8211; Heavy industrial companies in Europe could generate more than 200 billion euros annually in net value through decarbonization by 2030, according to new research from Accenture (NYSE: ACN). Accenture\u2019s new report, \u201cEnergizing Industry,\u201d reveals this decarbonization will require coordination between the public and private sectors. While future prices for carbon dioxide (CO2) emissions and green electricity remain uncertain, the research predicts the annual net value of industrial decarbonization will more than double between 2020 and 2030 \u2013 from around 100 to just over 200 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-457170","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research Report highlights hydrogen as most promising new technology for significantly decarbonizing industrial operations FRANKFURT, Germany&#8211;(BUSINESS WIRE)&#8211; Heavy industrial companies in Europe could generate more than 200 billion euros annually in net value through decarbonization by 2030, according to new research from Accenture (NYSE: ACN). Accenture\u2019s new report, \u201cEnergizing Industry,\u201d reveals this decarbonization will require coordination between the public and private sectors. While future prices for carbon dioxide (CO2) emissions and green electricity remain uncertain, the research predicts the annual net value of industrial decarbonization will more than double between 2020 and 2030 \u2013 from around 100 to just over 200 &hellip; Continue reading &quot;Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-15T11:00:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210314005010r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research\",\"datePublished\":\"2021-03-15T11:00:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\\\/\"},\"wordCount\":1120,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210314005010r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\\\/\",\"name\":\"Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research - 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Accenture\u2019s new report, \u201cEnergizing Industry,\u201d reveals this decarbonization will require coordination between the public and private sectors. While future prices for carbon dioxide (CO2) emissions and green electricity remain uncertain, the research predicts the annual net value of industrial decarbonization will more than double between 2020 and 2030 \u2013 from around 100 to just over 200 &hellip; Continue reading \"Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-15T11:00:39+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210314005010r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research","datePublished":"2021-03-15T11:00:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/"},"wordCount":1120,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210314005010r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/decarbonization-of-european-heavy-industrial-companies-could-generate-more-than-200-billion-euros-annually-by-2030-according-to-accenture-research\/","name":"Decarbonization of European Heavy Industrial Companies Could Generate More than 200 Billion Euros Annually by 2030, According to Accenture Research - 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