Climate Adaptation Market Report 2024

This Climate Adaptation market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The climate adaptation market size has grown rapidly in recent years. It will grow from $20.87 billion in 2023 to $23.11 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth during the historical period can be attributed to government policies and regulations, a rise in extreme weather events, increasing carbon emissions, funding for infrastructure projects, and urbanization.

The climate adaptation market size is expected to see rapid growth in the next few years. It will grow to $34.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth projected for the forecast period can be attributed to a rising demand for pest control measures, industrial expansion, population growth, improved water management, and heightened awareness. Key trends during this period include carbon removal technologies, technology-driven solutions, innovative approaches, automation, and machine learning.

The rise in carbon emissions is anticipated to drive the growth of the climate adaptation market in the future. Carbon emissions refer to the release of carbon compounds, primarily carbon dioxide (CO2) and methane (CH4), into the atmosphere, mainly from burning fossil fuels and industrial activities, significantly contributing to climate change and global warming. Factors such as population growth, increasing energy consumption, industrial expansion, urbanization, and a reliance on fossil fuels for energy production are all contributing to the rise in carbon emissions. As these emissions continue to increase, there is an urgent need to implement effective climate adaptation strategies, which has led to advancements in technology-based solutions such as carbon capture and storage (CCS) and direct air capture (DAC). These technologies are essential to the growth of the climate adaptation market. For example, a report from the Department for Energy Security and Net Zero, a UK government department, revealed that greenhouse gas emissions from domestic transport rose to 113.2 MtCO2e in 2022, representing a 2% increase from 2021. Consequently, the rise in carbon emissions is fueling the climate adaptation market.

Key players in the climate adaptation market are concentrating on developing advanced products, such as carbon management technologies, to improve efficiency, reduce emissions, and meet the growing demand for effective climate solutions across various industries. Carbon management technologies are innovative systems designed to capture, store, or mitigate carbon emissions from industrial processes, enabling organizations to achieve sustainability goals and comply with regulatory standards. For instance, in September 2024, Baker Hughes, a US-based energy technology company, introduced CarbonEdge, an advanced carbon management solution aimed at supporting climate adaptation efforts across multiple sectors. This solution offers real-time monitoring and analysis of carbon emissions, utilizing state-of-the-art sensor technology to provide accurate emission data, which helps industries optimize operations and effectively reduce their carbon footprints. Based on Baker Hughes' extensive experience in energy technology, CarbonEdge delivers reliable performance and significant environmental advantages for businesses striving to enhance their sustainability efforts.

In September 2022, Accenture, a global professional services firm based in Ireland, acquired Carbon Intelligence for an undisclosed amount. This acquisition bolsters Accenture's sustainability consulting expertise and underscores its commitment to helping businesses tackle the challenges posed by climate change while achieving substantial emissions reductions. Carbon Intelligence is a UK-based consultancy specializing in carbon and climate change strategy.

Major companies operating in the climate adaptation market are Exxon Mobil, Accenture plc, International Business Machines Corporation, PricewaterhouseCoopers International Limited, Baker Hughes, Jacobs Engineering, WSP Global, Xylem Inc., Mott MacDonald, Tetra Tech, Ramboll, Dewberry, Esri, RPS Group plc, Vaisala, Sierra Club, Campbell Scientific Inc., The Carbon Trust, Carbon Engineering ULC, DNV GL, ClimeCo LLC, AquaBounty Technologies, BARANI DESIGN Technologies, EcoMetrix Solutions Group, Arup Group Limited.

Asia-Pacific was the largest region in the climate adaptation market in 2023. The regions covered in the climate adaptation marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the climate adaptation marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Climate adaptation refers to the process of adjusting to the current or anticipated impacts of climate change. It involves modifying systems, practices, and behaviors to reduce negative effects while also capitalizing on any potential benefits.

The primary types of climate adaptation solutions include nature-based solutions, enhanced natural process solutions, technology-driven solutions, and early climate warning and environmental monitoring systems. Nature-based solutions (NbS) leverage natural ecosystems and processes to tackle environmental challenges such as climate change while benefiting society and biodiversity. Adaptation measures are applied across different enterprise sizes, including small and medium-sized businesses and large corporations, and are utilized by industries such as oil and gas, power generation, chemical and petrochemical, government, education, and others.

The climate adaptation market research report is one of a series of new reports that provides climate adaptation market statistics, including climate adaptation industry global market size, regional shares, competitors with a climate adaptation market share, detailed climate adaptation market segments, market trends and opportunities, and any further data you may need to thrive in the climate adaptation industry. This climate adaptation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The climate adaptation market consists of revenues earned by entities by providing services such as climate risk assessment, adaptation planning, policy development, capacity building, and monitoring and evaluation, to help governments, businesses, and communities prepare for and respond to the impacts of climate change. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The climate adaptation market also includes sales of resilient infrastructure solutions, water management systems, climate-resilient seeds, early warning systems, and green energy technologies. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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