Press release
Climate Tech Market Share, Size, Growth Trends, Opportunities And Forecast 2033
Climate Tech Market
The Business Research Company presents an extensive market research report on the Climate Tech Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The climate tech market size has grown exponentially in recent years. It will grow from $20.79 billion in 2023 to $26.12 billion in 2024 at a compound annual growth rate (CAGR) of 25.6%. The growth in the historic period can be attributed to increasing concerns about climate change and its impacts on the environment, growing awareness and demand for sustainable and eco-friendly solutions, government initiatives and policies promoting renewable energy and environmental sustainability, advancements in technology, rising investment in clean energy and climate-related projects, corporate commitments to reduce carbon footprint and adopt sustainable practices.
The climate tech market size is expected to see exponential growth in the next few years. It will grow to $63.42 billion in 2028 at a compound annual growth rate (CAGR) of 24.8%. The growth in the forecast period can be attributed to shift towards a circular economy and the adoption of circular supply chains, technological innovations in energy storage and grid modernization, demand for clean transportation solutions, including electric vehicles and alternative fuels, rising consumer awareness and demand for environmentally friendly products and services, increasing adoption of smart city initiatives and sustainable urban development, focus on sustainable agriculture and food production practices, and need for climate-resilient infrastructure and disaster preparedness. Major trends in the forecast period include renewable energy expansion, energy storage innovations, electric vehicle (EV) adoption, circular economy initiatives, and climate data analytics.
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Key Market Players:
Major companies operating in the climate tech market report are Microsoft Corporation, General Electric Company, IBM Corporation, BYD Auto Co. Ltd., Schneider Electric, Salesforce Inc, Climate Investor One, Wolters Kluwer N.V., Molten Ventures, ENGIE Insight Services Inc., Consensys, Form Energy, Intelex Technologies, Enablon North America Corp., Climeworks AG, AMP Robotics Corporation, Isometrix, Sensus, Taranis, Enviance Inc., Bedrock Energy, Breakthrough Energy Ventures, Trace Genomics, Hortau Inc., LO3 Energy
Market Drivers:
The government regulations and policies are expected to propel the growth of the climate tech market going forward. Government regulations and policies refer to the rules, guidelines, and initiatives implemented by governments to address climate change and promote sustainable development. Government regulations and policies help create a favorable environment for climate tech innovation, investment, and deployment, ultimately contributing to the transition to a more sustainable and low-carbon economy. For instance, in January 2021, according to US Climate 2021 Highlights, reported by the White House, a US-based organization 2021, the United States set ambitious climate targets, aiming to reduce its greenhouse gas emissions by 50-52% levels by 2030 and achieve 100% carbon pollution-free electricity by 2035. Therefore, government regulations and policies are driving the growth of the climate tech market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/climate-tech-global-market-report
The climate tech market covered in this report is segmented -
1) By Component: Climate Tech Solutions, Services
2) By Technology: Internet of Things (IoT), Artificial Intelligence (AI) And Analytics, Digital Twin, Cloud Computing, Security, Blockchain
3) By Application: Carbon Footprint Management, Green Building, Water Purification, Soil Condition Or Moisture Monitoring, Crop Monitoring, Forest Monitoring, Weather Monitoring And Forecasting, Air And Water Pollution Monitoring, Sustainable Mining And Exploration
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