The Latin America, Middle East and Africa Decarbonization Market is expected to witness market growth of 13.7 % CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Decarbonization Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $80.20 billion by 2031. The Argentina market is registering a CAGR of 14.4% during 2024-2031. Additionally, the UAE market is expected to showcase a CAGR of 12.6% during 2024-2031.
Industrial processes, which account for a significant share of emissions, are also transforming. Sectors such as cement, steel, and chemicals, traditionally energy-intensive and heavily reliant on fossil fuels, are adopting innovative technologies to reduce emissions. Carbon capture, utilization, and storage (CCUS) is emerging as a critical solution for mitigating emissions from these hard-to-abate industries.
Additionally, CCUS technologies assist the industry in meeting decarbonization targets by capturing CO2 emissions at their source and either storing them underground or using them for industrial purposes. Additionally, adopting low-carbon manufacturing techniques, energy-efficient equipment, and circular economy practices further drives the market's growth.
The LAMEA region increasingly prioritizes decarbonization to align with climate targets and address region-specific challenges such as energy access, resource dependency, and economic diversification. The market is shaped by significant investments in renewable energy, government-led climate policies, and efforts to modernize sectors like aerospace and defense. Countries in the region are leveraging their natural resources, innovative programs, and international partnerships to accelerate decarbonization.
The Brazil market dominated the LAMEA Decarbonization Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $80.20 billion by 2031. The Argentina market is registering a CAGR of 14.4% during 2024-2031. Additionally, the UAE market is expected to showcase a CAGR of 12.6% during 2024-2031.
Industrial processes, which account for a significant share of emissions, are also transforming. Sectors such as cement, steel, and chemicals, traditionally energy-intensive and heavily reliant on fossil fuels, are adopting innovative technologies to reduce emissions. Carbon capture, utilization, and storage (CCUS) is emerging as a critical solution for mitigating emissions from these hard-to-abate industries.
Additionally, CCUS technologies assist the industry in meeting decarbonization targets by capturing CO2 emissions at their source and either storing them underground or using them for industrial purposes. Additionally, adopting low-carbon manufacturing techniques, energy-efficient equipment, and circular economy practices further drives the market's growth.
The LAMEA region increasingly prioritizes decarbonization to align with climate targets and address region-specific challenges such as energy access, resource dependency, and economic diversification. The market is shaped by significant investments in renewable energy, government-led climate policies, and efforts to modernize sectors like aerospace and defense. Countries in the region are leveraging their natural resources, innovative programs, and international partnerships to accelerate decarbonization.
List of Key Companies Profiled
- IBM Corporation
- Accenture PLC
- Siemens AG
- SAP SE
- Tesla, Inc.
- Shell plc
- Schneider Electric SE
- Google LLC (Alphabet Inc.)
- Microsoft Corporation
- BASF SE
Market Report Segmentation
By Deployment
- On-premises
- Cloud
By Technology
- Renewable Energy Technologies
- Energy Efficiency Solutions
- Electric Vehicles (EVs)
- Carbon Removal Technologies
- Carbon Capture and Storage (CCS)
By Service
- Sustainable Transportation Services
- Carbon Accounting and Reporting Services
- Waste Reduction and Circular Economy Services
By End-user
- Oil & Gas
- Energy & Utility
- Automotive & Transportation
- Agriculture
- Aerospace & Defense
- Government
- Other End-user
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Decarbonization Market by Deployment
Chapter 6. LAMEA Decarbonization Market by Technology
Chapter 7. LAMEA Decarbonization Market by Service
Chapter 8. LAMEA Decarbonization Market by End-user
Chapter 9. LAMEA Decarbonization Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- IBM Corporation
- Accenture PLC
- Siemens AG
- SAP SE
- Tesla, Inc.
- Shell plc
- Schneider Electric SE
- Google LLC (Alphabet Inc.)
- Microsoft Corporation
- BASF SE
Methodology
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