Product Code: PM4306
The global decarbonization market size is expected to reach USD 6.59 billion by 2032, according to a new study by Polaris Market Research. The report "Decarbonization Market Share, Size, Trends, Industry Analysis Report, By Technology (Electric Vehicles, Renewable Energy Technologies, Carbon Removal Technologies, Energy Efficiency Solutions, Carbon Capture and Storage (CCS)); By Deployment Type; By Service Type; By End-Use; By Region; Segment Forecast, 2024- 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising demand for achieving a carbon-neutral economy through technological innovations, coupled with a comprehensive commitment to decarbonization across various organizations, will serve as a key growth driver. Additionally, adopting a comprehensive approach to decarbonization, providing clients worldwide with thorough assessments, creating pathways to carbon neutrality, and offering digital solutions for decarbonizing their digital and business operations are all pivotal factors contributing to the overall market expansion.
Internationally, the increasing need to mitigate environmental liabilities and reduce long-term operational risks is compelling companies to adopt advanced ecological technologies for safety. Numerous governmental agencies and organizations are imposing stringent rules and regulatory compliance measures across various industries, particularly concerning employee safety and health. It, in turn, will bolster the overall growth of the decarbonization market.
Climate change holds a prominent position within the focus of companies operating within the ESG framework, and the demand for solutions geared towards decarbonization is poised to surge. Integrating sustainability into digital transformation solutions will facilitate customers in their journey towards adopting a more environmentally responsible corporate approach. It involves viewing ecological considerations not only as a business opportunity but also as a risk management imperative. Consequently, heightening awareness of the impacts of climate change, achieving consensus on climate-related objectives, and formulating a robust and all-encompassing action plan will contribute to the progress of the market.
Decarbonization Market Report Highlights
The Electric Vehicle segment is expected to witness the fastest CAGR during the forecast period on account of increasing technological advancements.
On-premises segment accounted for the largest market share in 2023, which is mainly driven by flexibility, and cost-effectiveness.
The sustainable transportation services segment held a significant revenue share in 2023, mainly due to eco-friendly mobility solutions.
The oil and gas segment is expected to witness the highest growth during the forecast period due to sustainability and lower operational costs.
North America region accounted for the largest market share in 2023, owing to exponential growth in technology and rising R&D investments across its economies.
The global key market players include BP plc, Chevron Corporation, Enel S.p.A., General Electric Company, Hitachi, Ltd., Siemens AG.
Polaris Market Research has segmented the decarbonization market report based on technology, deployment type, service type, end-Use, and region:
Decarbonization, Technology Outlook (Revenue - USD Billion, 2019 - 2032)
- Electric Vehicles
- Renewable Energy Technologies
- Carbon Removal Technologies
- Energy Efficiency Solutions
- Carbon Capture and Storage (CCS)
Decarbonization, Deployment Type Outlook (Revenue - USD Billion, 2019 - 2032)
Decarbonization, Service Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Sustainable Transportation Services
- Carbon Accounting and Reporting services
- Waste Reduction and Circular Economy Services
Decarbonization, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)
- Manufacturing
- Oil & Gas
- Automotive & Transportation
- Agriculture
- Others
Decarbonization, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Decarbonization Market Insights
- 4.1. Decarbonization - Industry Snapshot
- 4.2. Decarbonization Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing consumer demand and social awareness is projected to spur the product demand
- 4.2.1.2. Renewable Energy Expansion
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Initial Costs
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Decarbonization Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Decarbonization Market, by Technology
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 5.3. Electric Vehicles
- 5.3.1. Global Decarbonization Market, by Electric Vehicles, by Region, 2019-2032 (USD Billion)
- 5.4. Renewable Energy Technologies
- 5.4.1. Global Decarbonization Market, by Renewable Energy Technologies, by Region, 2019-2032 (USD Billion)
- 5.5. Carbon Removal Technologies
- 5.5.1. Global Decarbonization Market, by Carbon Removal Technologies, by Region, 2019-2032 (USD Billion)
- 5.6. Energy Efficiency Solutions
- 5.6.1. Global Decarbonization Market, by Energy Efficiency Solutions, by Region, 2019-2032 (USD Billion)
- 5.7. Carbon Capture and Storage (CCS)
- 5.7.1. Global Decarbonization Market, by Carbon Capture and Storage (CCS), by Region, 2019-2032 (USD Billion)
6. Global Decarbonization Market, by Deployment Type
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 6.3. Cloud
- 6.3.1. Global Decarbonization Market, by Cloud, by Region, 2019-2032 (USD Billion)
- 6.4. On-Premises
- 6.4.1. Global Decarbonization Market, by On-Premises, by Region, 2019-2032 (USD Billion)
7. Global Decarbonization Market, by End-use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 7.3. Manufacturing
- 7.3.1. Global Decarbonization Market, by Manufacturing, by Region, 2019-2032 (USD Billion)
- 7.4. Oil & Gas
- 7.4.1. Global Decarbonization Market, by Oil & Gas, by Region, 2019-2032 (USD Billion)
- 7.5. Automotive & Transportation
- 7.5.1. Global Decarbonization Market, by Automotive & Transportation, by Region, 2019-2032 (USD Billion)
- 7.6. Agriculture
- 7.6.1. Global Decarbonization Market, by Agriculture, by Region, 2019-2032 (USD Billion)
- 7.7. Others
- 7.7.1. Global Decarbonization Market, by Others, by Region, 2019-2032 (USD Billion)
8. Global Decarbonization Market, by Service Type
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Global Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 8.3. Sustainable Transportation Services
- 8.3.1. Global Decarbonization Market, by Sustainable Transportation Services, by Region, 2019-2032 (USD Billion)
- 8.4. Carbon Accounting and Reporting services
- 8.4.1. Global Decarbonization Market, by Carbon Accounting and Reporting services, by Region, 2019-2032 (USD Billion)
- 8.5. Waste Reduction and Circular Economy Services
- 8.5.1. Global Decarbonization Market, by Waste Reduction and Circular Economy Services, by Region, 2019-2032 (USD Billion)
9. Global Decarbonization Market, by Geography
- 9.1. Key findings
- 9.2. Introduction
- 9.2.1. Decarbonization Market Assessment, By Geography, 2019-2032 (USD Billion)
- 9.3. Decarbonization Market - North America
- 9.3.1. North America: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.3.2. North America: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.3.3. North America: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.3.4. North America: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.3.5. Decarbonization Market - U.S.
- 9.3.5.1. U.S.: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.3.5.2. U.S.: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.3.5.3. U.S.: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.3.5.4. U.S.: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.3.6. Decarbonization Market - Canada
- 9.3.6.1. Canada: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.3.6.2. Canada: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.3.6.3. Canada: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.3.6.4. Canada: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.4. Decarbonization Market - Europe
- 9.4.1. Europe: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.4.2. Europe: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.4.3. Europe: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.4.4. Europe: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.4.5. Decarbonization Market - UK
- 9.4.5.1. UK: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.4.5.2. UK: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.4.5.3. UK: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.4.5.4. UK: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.4.6. Decarbonization Market - France
- 9.4.6.1. France: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.4.6.2. France: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.4.6.3. France: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.4.6.4. France: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.4.7. Decarbonization Market - Germany
- 9.4.7.1. Germany: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.4.7.2. Germany: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.4.7.3. Germany: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.4.7.4. Germany: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.4.8. Decarbonization Market - Italy
- 9.4.8.1. Italy: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.4.8.2. Italy: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.4.8.3. Italy: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.4.8.4. Italy: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.4.9. Decarbonization Market - Spain
- 9.4.9.1. Spain: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.4.9.2. Spain: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.4.9.3. Spain: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.4.9.4. Spain: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.4.10. Decarbonization Market - Netherlands
- 9.4.10.1. Netherlands: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.4.10.2. Netherlands: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.4.10.3. Netherlands: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.4.10.4. Netherlands: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.4.11. Decarbonization Market - Russia
- 9.4.11.1. Russia: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.4.11.2. Russia.: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.4.11.3. Russia: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.4.11.4. Russia: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.5. Decarbonization Market - Asia Pacific
- 9.5.1. Asia Pacific: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.5.2. Asia Pacific: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.5.3. Asia Pacific: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.5.4. Asia Pacific: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.5.5. Decarbonization Market - China
- 9.5.5.1. China: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.5.5.2. China.: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.5.5.3. China: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.5.5.4. China: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.5.6. Decarbonization Market - India
- 9.5.6.1. India: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.5.6.2. India.: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.5.6.3. India: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.5.6.4. India: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.5.7. Decarbonization Market - Japan
- 9.5.7.1. Japan: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.5.7.2. Japan.: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.5.7.3. Japan: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.5.7.4. Japan: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.5.8. Decarbonization Market - Malaysia
- 9.5.8.1. Malaysia: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.5.8.2. Malaysia.: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.5.8.3. Malaysia: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.5.8.4. Malaysia: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.5.9. Decarbonization Market - Indonesia
- 9.5.9.1. Indonesia: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.5.9.2. Indonesia.: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.5.9.3. Indonesia: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.5.9.4. Indonesia: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.5.10. Decarbonization Market - South Korea
- 9.5.10.1. South Korea: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.5.10.2. South Korea.: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.5.10.3. South Korea: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.5.10.4. South Korea: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.6. Decarbonization Market - Middle East & Africa
- 9.6.1. Middle East & Africa: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.6.2. Middle East & Africa: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.6.3. Middle East & Africa: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.6.4. Middle East & Africa: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.6.5. Decarbonization Market - Saudi Arabia
- 9.6.5.1. Saudi Arabia: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.6.5.2. Saudi Arabia: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.6.5.3. Saudi Arabia: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.6.5.4. Saudi Arabia: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.6.6. Decarbonization Market - South Africa
- 9.6.6.1. South Africa: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.6.6.2. South Africa: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.6.6.3. South Africa: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.6.6.4. South Africa: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.6.7. Decarbonization Market - Israel
- 9.6.7.1. Israel: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.6.7.2. Israel: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.6.7.3. Israel: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.6.7.4. Israel: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.6.8. Decarbonization Market - UAE
- 9.6.8.1. UAE: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.6.8.2. UAE: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.6.8.3. UAE: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.6.8.4. UAE: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.7. Decarbonization Market - Latin America
- 9.7.1. Latin America: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.7.2. Latin America: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.7.3. Latin America: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.7.4. Latin America: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.7.5. Decarbonization Market - Mexico
- 9.7.5.1. Mexico: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.7.5.2. Mexico: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.7.5.3. Mexico: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.7.5.4. Mexico: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.7.6. Decarbonization Market - Brazil
- 9.7.6.1. Brazil: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.7.6.2. Brazil: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.7.6.3. Brazil: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.7.6.4. Brazil: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
- 9.7.7. Decarbonization Market - Argentina
- 9.7.7.1. Argentina: Decarbonization Market, by Technology, 2019-2032 (USD Billion)
- 9.7.7.2. Argentina: Decarbonization Market, by Service Type, 2019-2032 (USD Billion)
- 9.7.7.3. Argentina: Decarbonization Market, by Deployment Type, 2019-2032 (USD Billion)
- 9.7.7.4. Argentina: Decarbonization Market, by End-use, 2019-2032 (USD Billion)
10. Competitive Landscape
- 10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
- 10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
- 11.1. ABB Ltd.
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Recent Development
- 11.2. BP plc
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.2.4. Recent Development
- 11.3. Chevron Corporation
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.3.4. Recent Development
- 11.4. Enel S.p.A.
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.4.4. Recent Development
- 11.5. General Electric Company
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.5.4. Recent Development
- 11.6. Hitachi, Ltd
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.6.4. Recent Development
- 11.7. Mitsubishi Heavy Industries, Ltd.
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.7.4. Recent Development
- 11.8. NextEra Energy, Inc.
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.8.4. Recent Development
- 11.9. Orsted A/S
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.9.4. Recent Development
- 11.10. Siemens AG
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Benchmarking
- 11.10.4. Recent Development
- 11.11. TotalEnergies SE
- 11.11.1. Company Overview
- 11.11.2. Financial Performance
- 11.11.3. Product Benchmarking
- 11.11.4. Recent Development
- 11.12. Ørsted A/S
- 11.12.1. Company Overview
- 11.12.2. Financial Performance
- 11.12.3. Product Benchmarking
- 11.12.4. Recent Development