The global climate adaption market size is expected to reach USD 49.24 billion by 2032, according to a new study by Polaris Market Research. The report “Climate Adaption Market Size, Share, Trends, Industry Analysis Report, By Type (Nature-Based, Technology-based, Enhanced Natural Process, Early Climate Warning & Environment Monitoring); End User; Region; Market Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Climate adaption refers to the process of adjusting systems, practices, and policies to minimize the negative impacts of climate change and to take advantage of potential opportunities. It involves proactive measures to enhance resilience against the effects of climate change, such as extreme weather events, rising sea levels, and shifting climate patterns.
The growing frequency and severity of climate-related disasters, such as hurricanes, floods, and wildfires, are driving demand for adaption solutions to protect lives, property, and economies. Also, governments and regulatory bodies are implementing policies and regulations that mandate climate adaption measures, creating a need for compliance and adaption solutions.
Various companies are launching carbon capture campaigns and investing in direct air capture technologies to reduce atmospheric CO2 levels. These initiatives help mitigate climate change impacts, which in turn drives demand for climate adaption solutions.
For instance, in November 2023, Climeworks launched its "Remove to Zero" campaign to highlight the importance of carbon removal technologies in combating climate change on a global scale.
In March 2019, Carbon Engineering Ltd. completed a significant equity financing round, securing USD 68 million. This investment represents the largest private funding in Direct Air Capture technology, which focuses on capturing carbon dioxide directly from the atmosphere to mitigate climate change.
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Key players are signing memorandums of understanding (MOUs) to collaborate on minimizing the impacts of climate change and pooling resources and expertise to enhance adaption and mitigation efforts.
For instance, in July 2023, Fluor Corporation announced an MOU with Carbfix to advance integrated carbon capture and storage (CCS) solutions. This collaboration aims to reduce the impacts of climate change, and such initiatives by key players are driving increased demand in the climate adaption market.
Climate Adaption Market Report Highlights
Polaris Market Research has segmented the climate adaption market report based on type, end user, and region:
By Type Outlook (Revenue - USD billion, 2019 - 2032)
By End User Outlook (Revenue - USD billion, 2019 - 2032)
By Regional Outlook (Revenue - USD billion, 2019 - 2032)
Climate Adaption Report Scope
Report Attributes |
Details |
Market Size Value in 2023 |
USD 20.85 billion |
Market Size Value in 2024 |
USD 22.90 billion |
Revenue Forecast in 2032 |
USD 49.24 billion |
CAGR |
10.0% from 2024 – 2032 |
Base Year |
2023 |
Historical Data |
2019 – 2022 |
Forecast Period |
2024 – 2032 |
Quantitative Units |
Revenue in USD billion and CAGR from 2024 to 2032 |
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Industry Trends |
Segments Covered |
|
Regional Scope |
|
Competitive Landscape |
|
Report Format |
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Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
For Specific Research Requirements |