$125+ Bn Climate Tech Market - Global Forecasts From 2024 To 2029: Initiatives To Bolster Carbon Capture Storage (CCS) Fuels Expansion
Date
10/28/2024 5:46:26 AM
(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 28, 2024 (GLOBE NEWSWIRE) -- The "Climate Tech market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The climate tech market is predicted to grow at a CAGR of 18.36% thereby reaching US$125.303 billion in 2029 from US$53.946 billion in 2024.
Growing global warming has bolstered the demand for innovative technologies to restore biodiversity, driving the demand for climate tech. Furthermore, the ongoing shift towards e-mobility, investment in renewable projects, and initiatives to bolster the study of climate change have further created a new framework for the market to prosper in the coming years.
Major weather & climate monitoring organizations are investing in improving their technical infrastructure to enhance the accuracy of their obtained results and measurements, which has further led to an upward market trajectory. However, the high associated investments for the development of such technologies may limit their expansion scope in certain nations that lack the basic infrastructure, thereby posing a challenge for the overall market growth.
Climate Tech Market Drivers: Initiatives to bolster carbon capture storage (CCS) capacity have positively impacted the overall market expansion.
Climate change has become one of the major issues which have hampered the global food security and biodiversity. Hence, various innovations, developments, and investments in technologies such as carbon capture storage (CCS) and renewable energy solutions are being implemented to reduce the negative impact of climate change.
Climate Tech Market Geographical Outlook
Asia Pacific is predicted to expand at a significant rate.
The climate tech market, region-wise, is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The market in the APAC regions is expected to show significant growth during the given timeframe. This growth is attributable to favorable investment in renewable energy projects and carbon capture technologies followed by EV transition in major regional economies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 146 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $53.95 billion |
| Forecasted Market Value (USD) by 2029 | $125.3 billion |
| Compound Annual Growth Rate | 18.3% |
| Regions Covered | Global |
Report Coverage:
Historical data & forecasts from 2022 to 2029 Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis Competitive Positioning, Strategies, and Market Share Analysis Revenue Growth and Forecast Assessment of segments and regions including countries Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
Some of the key companies profiled in this Climate Tech Market report include:
Google Microsoft IBM Orsted A/S Xylem IsoMetrix Intelex Technologies Pachama, Inc. ENGIE
The Climate Tech market is segmented and analyzed as follows:
By Type
Climate Modeling Prediction Tools Carbon Capture Technologies Others
By Product
By End-User
Agriculture Energy & Utilities Industrial Transportation Others
By Geography
North America South America Europe UK Germany France Italy Others
Middle East and Africa Saudi Arabia Israel Others
Asia Pacific Japan China India South Korea Indonesia Thailand Others
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