Decarbonization Report 2024: Market Data & Innovation Insights

The decarbonization industry is transforming due to changing customer preferences and policies driven by global carbon reduction targets. This report explores key market data as well as areas of innovation and their implications for companies and governments worldwide.

The 2024 Decarbonization Report provides an overview of the latest advancements, trends, and investments that drive the global transition to a low-carbon economy. Highlighting the growth and innovation within the sector, this report covers key areas such as electrolyzers, carbon offset initiatives, and the broader green economy. With firmographic data on workforce expansion, funding rounds, and technological developments, the report highlights the role of decarbonization efforts in addressing climate change.

This report was last updated in July 2024.

This decarbonization report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights Decarbonization Report 2024


Executive Summary: Decarbonization Outlook 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 3100+ decarbonization startups developing innovative solutions to present five examples from emerging decarbonization industry trends.

  • Industry Growth Overview: The decarbonization market comprises over 75880 companies. The sector grew by 8.44% over the past year.
  • Manpower & Employment Growth: The industry employs 9.7 million individuals. Over 549900 new employees were added in the last year.
  • Patents & Grants: More than 124650 technologies received patents in the decarbonization market. Likewise, over 14430 companies received grants to support research and development.
  • Global Footprint: Key geographical hubs include the USA, UK, India, Germany, and Canada. Major urban centers driving decarbonization efforts are London, New York City, Sydney, Melbourne, and Houston.
  • Investment Landscape: The average investment value per funding round stands at USD 84.4 million. The industry closed more than 23000 funding rounds with over 7200 investors. More than 10040 companies received investments.
  • Top Investors: A few of the top investors include Investment Bank, Apollo, Encap Flatrock Midstream, and more. Together, they invested over USD 27 billion in the decarbonization market.
  • Startup Ecosystem: Five startups featured in this report include Toqua (decarbonizing shipping), AtmosZero (decarbonized steam), ExpectAI (climate action platform), Steady Energy (LDR-50 nuclear reactor solution), and COLIPI (renewable carbon fermentation).
  • Recommendations for Stakeholders: Investors should channel funds towards companies developing carbon capture technologies, renewable energy solutions, and green hydrogen projects to drive substantial environmental impact. Governments must implement policies and provide incentives for clean energy adoption while investing in research and infrastructure to support the transition to a low-carbon economy.

Explore the Data-driven Decarbonization Report for 2024

The Decarbonization Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The heat map illustrates the global distribution and concentration of decarbonization initiatives. It highlights the widespread nature of the market’s push towards a sustainable future. Our database includes over 3175 startups and 75880+ companies dedicated to advancing decarbonization efforts. Over the past year, the sector grew by 8.44%.

Over 124000 companies filed for patents to demonstrate research and development. Likewise, over 14400 companies received grants. The industry employs a global workforce of 9.7 million. It added over 549900 employees in the last year alone. Key geographical hubs driving these efforts include the USA, UK, India, Germany, and Canada, with major urban centers in London, New York City, Sydney, Melbourne, and Houston leading the decarbonization charge.

What data is used to create this decarbonization report?

Based on the data provided by our Discovery Platform, we observe that the decarbonization industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

  • News Coverage & Publications: More than 29170 publications focused on the decarbonization market.
  • Funding Rounds: The sector experienced financial backing as evidenced by over 23000 funding rounds documented in our database.
  • Manpower: The manpower is showcased with more than 9.7 million workers employed. It added over 549900 new employees in the past year alone.
  • Patents: More than 124650 decarbonizing technologies’ patents filed.
  • Grants: Over 14430 companies received grants.
  • Yearly Global Search Growth: The yearly global search growth of 126.25% highlights the industry’s prominence.

A Snapshot of the Global Decarbonization Industry

The decarbonization industry experienced growth and development, as demonstrated by the latest data. With a manpower of 9.7 million individuals, the sector added more than 549900 employees over the past year. The number of companies operating in this space grew, reaching over 75880.

Explore the Funding Landscape of the Decarbonization Industry

Investment in the decarbonization sector showcases an average investment value of USD 84 million per funding round. The industry closed more than 23000 funding rounds and attracted over 7200 investors. This financial support is directed towards more than 10040 companies, highlighting interest and commitment to advancing decarbonization technologies and solutions.

These decarbonization outlook figures underline the growing nature of the decarbonization market and emphasize its role in driving global sustainability efforts. The industry’s manpower, employee growth, and financial investments all point to its position in the global economy’s transition toward a more environmentally conscious future.

Who is Investing in Decarbonization?

The decarbonization segment attracts investments from top financial institutions, with a combined investment value of more than USD 27 billion. Here are the key investors and their contributions:

Explore the top trends in the decarbonization sector along with the firmographic insights:

  • The Electrolyzer trend experiences growth with 677 companies identified in this space. These companies employ a total of 91700 individuals, with 5600 new employees added in the past year. The annual trend growth rate for electrolyzers stands at 38.17%.
  • The Carbon Offset trend encompasses 2198 companies, which collectively employ 173900 individuals. Over the last year, this trend saw an addition of 14600 new employees. The annual trend growth rate for carbon offset initiatives is 4.95%.
  • The Green Economy trend includes 1441 companies and employs a total of 101600 individuals. Despite adding 5900 new employees over the past year, the sector faced challenges. This is reflected in its annual trend growth rate of -3.7%.

5 Top Examples from 3100+ Innovative Decarbonization Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

Toqua provides Decarbonizing Shipping

Belgian startup Toqua uses advanced AI for ship performance modeling to enable decarbonization. Its product, Ship Kernel, enhances ship performance models by integrating data from noon reports, sensor data, and maintenance events. Ship Kernels save fuel by improving route and speed optimization and maintenance planning. These models eliminate inaccuracies and provide data on fuel savings from retrofits and optimizations. Further, it provides speed over ground (SOG), revolutions per minute (RPM), and speed through water (STW). Moreover, it models directions of wave, wind, and current while providing fluctuations, structural deformations, or general wear and tear of the vessel.

AtmosZero offers Decarbonized Steam

US-based startup AtmosZero develops modular electrified boilers to generate decarbonized steam from ambient heat and electricity. Its system, AtmosZero Boiler 2.0, utilizes a heat pump technology to capture and convert air heat into high-temperature steam. This system integrates into existing infrastructures without requiring complex modifications. It increases efficiency by using less electricity and offers carbon-neutral steam at temperatures exceeding 200°C.

ExpectAI develops Climate Action Platform

UK-based startup ExpectAI develops the Adaptive Carbon Profile (ACP), a climate action platform using public data and AI. It integrates intellectual property to offer carbon insights. These AI-driven insights convert complex climate data into actionable steps and promote operational efficiency and profitability. This approach emphasizes impactful decisions over incremental changes.

Steady Energy creates LDR-50 Nuclear Reactor Solution

Finnish startup Steady Energy uses the LDR-50 nuclear reactor to produce emission-free heat at low temperatures and pressures. The LDR-50 technology features a compact design in which each reactor module generates a maximum heating power of 50 MW. It includes physically separated water circuits and the lowest pressure inside the reactor retains any possible leak inside the reactor. It utilizes the light water reactor technology to offer low lifecycle emissions and high energy density. This modular reactor suits centralized district heating and remains unaffected by weather or electricity cost fluctuations.

COLIPI ferments Renewable Carbon

German startup COLIPI produces Climate Oil by fermenting renewable carbon from organic byproducts and CO2 from point sources. The company uses microbial yeasts and hydrogen-oxidizing bacteria to harness biogenic carbon dioxide and industrial byproducts. Its patented gas fermentation bioreactor enhances carbon conversion efficiency. The power-to-liquid technology reduces production costs and promotes climate-neutral biomaterials. Climate Oil serves as a sustainable substitute for traditional vegetable oils and is used in cosmetics and surfactants, produced through yeast precision fermentation. Additionally, it uses bacterial gas fermentation to create sustainable aviation fuels and bioplastics.

Gain Comprehensive Insights into Decarbonization Trends, Startups, or Technologies

The 2024 Decarbonization Report emphasizes the progress and growth within the sector. The data details the advancements in electrolyzers and carbon capture solutions backed by investments and expanding workforces. Despite challenges in certain areas such as transportation or agriculture, the green economy continues to grow, in tandem with rising global awareness about sustainability. Get in touch to explore all 3100+ startups and scaleups, as well as all industry trends impacting decarbonization companies.

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