Global Climate Adaptation Market Scope 2024, Forecast To 2033
12 Nov, 2024
The climate adaptation market has expanded rapidly, increasing from $20.87 billion in 2023 to $23.11 billion in 2024 at a CAGR of 10.8%. This growth is attributed to government policies, an increase in extreme weather events, rising carbon emissions, infrastructure funding projects, and urbanization. The climate adaptation market is projected to grow to $34.98 billion by 2028, at a CAGR of 10.9%. Growth is attributed to the rising demand for pest control measures, industrial growth, and population increase. Major trends in the forecast period include carbon removal technologies, technology-based solutions, innovative solutions, automation, and machine learning.
Major Driver In The Climate Adaptation Market
The increasing carbon emissions are expected to drive the growth of the climate adaptation market. Carbon emissions contribute to global warming and climate change, increasing the need for solutions like carbon capture and storage (CCS). According to the Department for Energy Security and Net Zero in February 2024, greenhouse gas emissions from domestic transport rose by 2%. The climate adaptation market is projected to grow from USD 9.51 billion in 2023, USD 10.25 billion in 2024, to USD 16.28 billion by 2028.
Request A Free Sample Of The Climate Adaptation Market ReportClimate Adaptation Market Competitive Landscape
Exxon Mobil, Accenture plc, International Business Machines Corporation, PricewaterhouseCoopers International Limited, Baker Hughes, Jacobs Engineering, WSP Global, Xylem Inc., Mott MacDonald, Tetra Tech, Ramboll, Dewberry, Esri, RPS Group plc, Vaisala, Sierra Club, Campbell Scientific Inc., The Carbon Trust, Carbon Engineering ULC, DNV GL, ClimeCo LLC, AquaBounty Technologies, BARANI DESIGN Technologies, EcoMetrix Solutions Group, Arup Group Limited
Key Climate Adaptation Market Trend
Companies in the climate adaptation market are focusing on products like carbon management technologies to improve efficiency, reduce emissions, and meet the demand for effective climate solutions. These technologies capture, store, or reduce carbon emissions from industrial processes. In September 2024, Baker Hughes, a US-based energy technology firm, launched CarbonEdge, a carbon management solution that provides real-time carbon emission monitoring and analysis across industries, helping businesses reduce their carbon footprint and optimize operations.
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Global Climate Adaptation Market Segmentation
The climate adaptation market covered in this report is segmented –
1) By Solution: Natural-Based Solutions, Enhanced Natural Process Solutions, Technology-Based Solutions, Early Climate Warning And Environment Monitoring Solutions
2) By Enterprise Size: Small And Medium-Sized Enterprises, Large Enterprises
3) By Industry: Oil And Gas, Power Generation, Chemical And Petrochemical, Government, Education, Other Industries
By Geography:The regions covered in the climate adaptation marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the climate adaptation market in 2023.
The Climate Adaptation Global Market Report 2024 furnishes information about the global climate adaptation market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.