Decarbonization Market
Decarbonization Market Size, Share & Trends Analysis Report by Service (Carbon Accounting & Reporting Services, Sustainable Transportation Services and Waste Reduction & Circular Economy Services), by Technology (Renewable Energy Technologies, Energy Efficiency Solutions, Carbon Removal Technologies and Carbon Capture and Storage (CCS)), and by End-User (Oil & Gas, Energy & Utility, Agriculture, Government, Automotive & Transportation, Aerospace & Defense and Manufacturing), Forecast Period (2023-2030)
Decarbonization market is anticipated to grow at a CAGR of 30.1% during the forecast period (2023-2030). Decarbonization in the industrial sector refers to attempts to minimize the industry's carbon footprint and transition to a more sustainable and low-carbon energy future. The growing adoption of CO2 capture absorption process technology is the key factor supporting the growth of the market globally. Various market players scale-up in decarbonization technology, carbon capture utilization and storage (CCUS), new energies, oil and gas emissions reduction, digital applications and advanced materials for decarbonization, and nature-based solutions.
The market players are also focusing on introducing decarbonization technology solutions that further bolster the market growth. For instance, in May 2023, ADNOC, launched a global competition to find innovations that reshape the global energy landscape. The decarbonization technology challenge is being supported by Amazon Web Services (AWS), bp, Hub71, and the Net Zero Technology Center. The competition was launched at the UAE Climate Tech Forum in Abu Dhabi, where over 1,000 global policymakers, innovators, and industrial leaders met to drive technological solutions for decarbonization.
Annual change in CO2 emissions by sector, 2021
Source: International Energy Agency
Segmental Outlook
The global decarbonization market is segmented on the service, technology, and end-user. Based on the service, the market is sub-segmented into carbon accounting & reporting services, sustainable transportation services and waste reduction & circular economy services. Based on the technology, the market is sub-segmented into renewable energy technologies, energy efficiency solutions, carbon removal technologies and carbon capture and storage (CCS). Further, on the basis of end-users, the market is sub-segmented into oil & gas, energy & utility, agriculture, government, automotive & transportation, aerospace & defence and manufacturing. Among the services, the sustainable transportation services sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of low- and zero-emission, energy-efficient, and affordable modes of transport, including electric and alternative-fuel vehicles, as well as domestic fuels.
The Carbon Capture and Storage (CCS) Sub-Segment is Anticipated to Hold a Considerable Share of the Global Decarbonization Market
Among the technology, the carbon capture and storage (CCS) sub-segment is expected to hold a considerable share of the global programmatic advertisement market. The segmental growth is attributed to the growing influence of carbon capture and storage (CCS) for reducing carbon emissions, which could be key to helping to tackle global warming. Through standardization with catch modular product, digitalization, and integrating the full value chain, Carbon Capture as a Service will not only accelerate the market, but also accelerate cost reductions. For instance, in July 2021, Aker Carbon Capture launched Carbon Capture as a Service, Carbon Capture Made easy™, an integrated offering that covers everything a customer needs to reduce emissions by CCS. As part of the service, Aker Carbon Capture deliver and operate the carbon capture facilities. Transport and storage are embedded in the service through strategic partnerships.
Regional Outlook
The global decarbonization market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to decarbonization in the oil and gas industry to reduce emissions associated with the extraction, processing, and transportation of oil and natural gas.
Global Decarbonization Market Growth, by Region 2023-2030
The North America Region is Expected to Grow at a Significant CAGR in the Global Decarbonization Market
Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the rising number of investments and initiatives in the green environment. For instance, in May 2023, the US Department of Energy (DOE) launched the Clean Fuels & Products Shot™, a new initiative that aims to significantly reduce greenhouse gas emissions (GHGs) from carbon-based fuels and products critical to our way of life. This is the seventh DOE Energy Earthshot, which focuses on reducing carbon emissions from the fuel and chemical industry through alternative, more sustainable sources of carbon to achieve a minimum of 85.0% lower GHG emissions as compared to fossil-based sources by 2035.
Furthermore, the adoption of sustainable transportation services using data and technology to optimize transportation services, reduce traffic congestion, and improve the efficiency of sustainability in transportation drives the growth of the market in the region. The key market players include Amazon Inc., Canadian Solar Inc., Microsoft, NextEra Energy, Inc., Tesla, Inc. and others.
Market Players Outlook
The major companies serving the decarbonization market include Accenture, Deloitte, IBM Corp., LanzaTech, Saipem S.p.A., Shell USA, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2023, United States Steel Corp. and CarbonFree Chemicals Holdings, LLC (CarbonFree) collaborated to pursue the capture of CO2 emissions generated from US Steel’s Gary Works manufacturing plant using CarbonFree’s SkyCycle™ technology.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global decarbonization market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. IBM Corp.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Saipem S.p.A.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Shell USA, Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Decarbonization Market by Service
4.1.1. Carbon Accounting & Reporting Services
4.1.2. Sustainable Transportation Services
4.1.3. Waste Reduction & Circular Economy Services
4.2. Global Decarbonization Market by Technology
4.2.1. Renewable Energy Technologies
4.2.2. Energy Efficiency Solutions
4.2.3. Carbon Removal Technologies
4.2.4. Carbon Capture and Storage (CCS)
4.3. Global Decarbonization Market by End Users
4.3.1. Oil & Gas
4.3.2. Energy & Utility
4.3.3. Agriculture
4.3.4. Government
4.3.5. Automotive & Transportation
4.3.6. Aerospace & Defense
4.3.7. Manufacturing
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Adform
6.2. Accenture
6.3. Aker Carbon Capture
6.4. Atos SE
6.5. British Telecommunications plc
6.6. Carbfix hf.
6.7. Carbon Clean Solutions Ltd.
6.8. Carbon Engineering Ltd.
6.9. CarbonFree
6.10. Climeworks
6.11. Deloitte
6.12. EnergyCAP, LLC.
6.13. Global Thermostat
6.14. Inter IKEA Systems B.V.
6.15. IsoMetrix
6.16. LanzaTech
6.17. Pattern Energy
6.18. Siemens AG.
6.19. Trinity Consultants, Inc.
1. GLOBAL DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY SERVICE, 2022-2030 ($ MILLION)
2. GLOBAL DECARBONIZATION ACCOUNTING & REPORTING SERVICES MARKET RESEARCH AND ANALYSIS BY REGION,2022-2030 ($ MILLION)
3. GLOBAL DECARBONIZATION SUSTAINABLE TRANSPORTATION SERVICES MARKET RESEARCH AND ANALYSIS BY REGION,2022-2030 ($ MILLION)
4. GLOBAL DECARBONIZATION WASTE REDUCTION & CIRCULAR ECONOMY SERVICES MARKET RESEARCH AND ANALYSIS BY REGION,2022-2030 ($ MILLION)
5. GLOBAL DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
6. GLOBAL DECARBONIZATION RENEWABLE ENERGY TECHNOLOGIES MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
7. GLOBAL DECARBONIZATION ENERGY EFFICIENCY SOLUTIONS MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
8. GLOBAL DECARBONIZATION CARBON REMOVAL TECHNOLOGIES MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
9. GLOBAL DECARBONIZATION CARBON CAPTURE AND STORAGE (CCS) MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
10. GLOBAL DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
11. GLOBAL DECARBONIZATION FOR OIL & GAS MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
12. GLOBAL DECARBONIZATION FOR ENERGY & UTILITY MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
13. GLOBAL DECARBONIZATION FOR AGRICULTURE MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
14. GLOBAL DECARBONIZATION FOR GOVERNMENT MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
15. GLOBAL DECARBONIZATION FOR AUTOMOTIVE & TRANSPORTATION MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
16. GLOBAL DECARBONIZATION FOR AEROSPACE & DEFENSE MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
17. GLOBAL DECARBONIZATION FOR MANUFACTURING MARKET RESEARCH AND ANALYSIS, 2022-2030 ($ MILLION)
18. GLOBAL DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
19. NORTH AMERICAN DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
20. NORTH AMERICAN DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY SERVICE, 2022-2030 ($ MILLION)
21. NORTH AMERICAN DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
22. NORTH AMERICAN DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
23. EUROPEAN DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
24. EUROPEAN DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY SERVICE, 2022-2030 ($ MILLION)
25. EUROPEAN DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
26. EUROPEAN DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY END USERS, 2022-2030 ($ MILLION)
27. ASIA- PACIFIC DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
28. ASIA- PACIFIC DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY SERVICE, 2022-2030 ($ MILLION)
29. ASIA- PACIFIC DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
30. ASIA- PACIFIC DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY END USERS, 2022-2030 ($ MILLION)
31. REST OF THE WORLD DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
32. REST OF THE WORLD DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY SERVICE, 2022-2030 ($ MILLION)
33. REST OF THE WORLD DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
34. REST OF THE WORLD DECARBONIZATION MARKET RESEARCH AND ANALYSIS BY END USERS, 2022-2030 ($ MILLION)
1. GLOBAL DECARBONIZATION MARKET SHARE BY SERVICE, 2022 VS 2030 (%)
2. GLOBAL DECARBONIZATION ACCOUNTING & REPORTING SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL DECARBONIZATION SUSTAINABLE TRANSPORTATION SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL DECARBONIZATION WASTE REDUCTION & CIRCULAR ECONOMY SERVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL DECARBONIZATION MARKET SHARE BY TECHNOLOGY, 2022 VS 2030 (%)
6. GLOBAL DECARBONIZATION RENEWABLE ENERGY TECHNOLOGIES MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL DECARBONIZATION ENERGY EFFICIENCY SOLUTIONS MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL DECARBONIZATION CARBON REMOVAL TECHNOLOGIES MARKET SHARE BY REGION, 2022 VS 2030 (%)
9. GLOBAL DECARBONIZATION CARBON CAPTURE AND STORAGE (CCS) MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL DECARBONIZATION MARKET SHARE ANALYSIS BY END-USER, 2022-2030 ($ MILLION)
11. GLOBAL DECARBONIZATION FOR OIL & GAS MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL DECARBONIZATION FOR ENERGY & UTILITY MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL DECARBONIZATION FOR AGRICULTURE MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL DECARBONIZATION FOR GOVERNMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
15. GLOBAL DECARBONIZATION FOR AUTOMOTIVE & TRANSPORTATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
16. GLOBAL DECARBONIZATION FOR AEROSPACE & DEFENSE MARKET SHARE BY REGION, 2022 VS 2030 (%)
17. GLOBAL DECARBONIZATION FOR MANUFACTURING MARKET SHARE BY REGION, 2022 VS 2030 (%)
18. GLOBAL DECARBONIZATION MARKET SHARE BY REGION, 2022 VS 2030 (%)
19. US DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
20. CANADA DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
21. UK DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
22. FRANCE DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
23. GERMANY DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
24. ITALY DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
25. SPAIN DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
26. REST OF EUROPE DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
27. INDIA DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
28. CHINA DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
29. JAPAN DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
30. SOUTH KOREA DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
31. REST OF ASIA-PACIFIC DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
32. REST OF THE WORLD DECARBONIZATION MARKET SIZE, 2022-2030 ($ MILLION)
