Their products and services will enable the efficiency improvements and technological innovations that are required to reduce significantly their customers' carbon footprint. Apart from the importance of avoiding emissions and combating climate change, this effort will open up valuable opportunities for mechanical engineering to tap new sources of growth – a market with a value of around 10 trillion euros. The VDMA and the Boston Consulting Group have published a joint study about this, which VDMA President Carl Martin Welcker and Markus Lorenz from the Boston Consulting Group talk about in this session .