Decarbonization Market Set to Grow $6.59 Bn By 2032, 12.2% CAGR

Decarbonization Market Size Worth $6.59 Billion By 2032 | CAGR: 12.2%

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.

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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)

  • Cloud
  • On-Premises

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

Decarbonization Market Report Scope

Report Attributes


Market size value in 2024

USD 2.63 billion

Revenue forecast in 2032

USD 6.59 billion


12.2% from 2024 – 2032 

Base year


Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Technology, By Deployment Type, By Service Type, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa


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