What are the recent trends in market size and growth for the climate tech market?
The climate tech market size has grown exponentially in recent years. It will grow from $26.12 billion in 2024 to $32.49 billion in 2025 at a compound annual growth rate (CAGR) of 24.4%. 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 $79.45 billion in 2029 at a compound annual growth rate (CAGR) of 25.0%. 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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How have varous drivers impacted the growth of the climate tech market?
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 April 2023, according to the International Energy Agency, a France-based intergovernmental organization, in 2022, Australia enacted the Climate Change Act, which significantly increases its emissions reduction target for 2030 and establishes a goal of achieving net zero emissions by 2050. Additionally, Australia joined the Global Methane Pledge, aligning with 130 other governments committed to collectively reducing methane emissions by at least 30% by 2030. This positions Australia among a growing number of nations taking ambitious steps to combat climate change. Therefore, government regulations and policies are driving the growth of the climate tech market.
What are the primary segments of the climate tech market?
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
Subsegments:
1) By Climate Tech Solutions: Renewable Energy Technologies, Energy Efficiency Solutions, Carbon Management Solutions, Climate Resilience Solutions, Sustainable Agriculture Technologies
2) By Services: Consulting Services, Implementation Services, Maintenance And Support Services, Data Analytics Services, Training And Education Services
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Which firms are leading the climate tech market?
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
How will industry trends affect the trajectory of the climate tech market?
Major companies operating in the climate tech market are developing innovative solution such as capital investment platform to accelerate the transition to sustainable energy and reduce greenhouse gas emissions. A capital investment platform is a digital marketplace that connects investors with projects focused on sustainable technologies, enabling them to fund initiatives that combat climate change. These platforms also provide tools for assessing the impact and returns of investments in environmental sustainability. For instance, in December 2023, Investcorp, Bahrain-based private equity company launched Climate Solutions Investment Platform. The platform offers targeted growth capital to companies focused on decarbonization solutions and climate-impact technologies, particularly those ready for rapid expansion. As part of the Innovate for Climate Tech coalition, which includes Masdar City, Tencent, and Catalyst, it utilizes a robust knowledge base and extensive networking to drive climate innovation. Furthermore, TanLIVE, a Tencent-powered digital platform, supports global climate initiatives by providing networking opportunities, project listings, and a curated ecosystem of technology and financial solutions. With over 1,000 users from various sectors, TanLIVE promotes collaboration among entrepreneurs, investors, and researchers to achieve meaningful climate actions.
Which geographic trends are shaping the climate tech market, and which region has the highest market share?
North America was the largest region in the climate tech market in 2024. The regions covered in the climate tech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Climate Tech Market Report 2025 Offer?
The climate tech market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Climate tech refers to technologies, innovations, and solutions aimed at addressing climate change challenges. These technologies are designed to reduce greenhouse gas emissions, increase energy efficiency, promote renewable energy adoption, enhance climate resilience, and support sustainable practices across various sectors.
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