Silicon Valley Mega Trends

The global market for climate technologies is expected to reach a market value of USD 147.5 billion by 2032, registering an annual growth rate of 24.2%. Within the U.S., California records the highest VC investments in climate technologies and also promotes them statewide.

Innovative climate technologies play a crucial role in decarbonizing and increasing the efficiency of the industry. This offers great market opportunities for German SMEs.

The future of mobility is electric, and the United States is on track to make this vision a reality. Sales of electric vehicles have surged by a remarkable 66%, with expected revenue reaching $61.18 billion by 2023. A significant portion of this growth story is taking place in California.

As German companies are pioneers in the field of electromobility, they have excellent opportunities to connect with the U.S. market.

The market for sustainable packaging is growing significantly and is expected to reach an estimated value of $470.3 billion by 2027. Globally, around $1.3 billion is being invested in the circular economy to increase recycling rates. California is leading the way, investing $270 million over the next three years to improve recycling systems and the circular economy.

Germany has been a global leader in the circular economy since 2012. The combination of Germany's lead in research and development with investments in the U.S. also holds great potential for innovation and sales growth.

The U.S. state of Washington is considered one of the best locations for aircraft manufacturing in the U.S. The aerospace cluster in Seattle is the largest in the world and is home to companies like Boeing. The air transport market is projected to grow by more than 5% annually between 2022 and 2027.

There is significant potential for collaboration between German and U.S. representatives from business and science in the field of sustainable aviation, particularly in alternative fuels and new, less carbon-intensive turbines.