South Korea Decarbonization Market Size, Share, and COVID-19 Impact Analysis, By Technology (Renewable Energy Technologies, Energy Efficiency Solutions, and Electric Vehicles (EVs)), By Services (Sustainable Transportation Services and Carbon Accounting & Reporting Services), By Deployment (On-Premises and Cloud), and South Korea Decarbonization Market Insights, Industry Trend, Forecasts to 2035

South Korea Decarbonization Market Insights Forecasts to 2035

• The South Korea Decarbonization Market Size Was Estimated at USD 42,969.2 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 18.29% from 2025 to 2035
• The South Korea Decarbonization Market Size is Expected to Reach USD 272,719.9Million by 2035

According to a Research Report Published by Spherical Insights & Consulting, The South Korea Decarbonization Market Size is anticipated to Reach USD 272,719.9 Million by 2035, Growing at a CAGR of 18.29% from 2025 to 2035. In the context of ESG, climate change is a major concern for businesses, and there will be an increasing need for solutions connected to decarbonization.

Market Overview

Decarbonization is the process of reducing or eliminating greenhouse gas emissions, particularly from the energy and utility sectors, by switching to low-carbon and zero-carbon energy sources and technologies. This entails moving away from the production and consumption of fossil fuels and toward greener, more sustainable alternatives including electrification, renewable energy, and carbon capture and storage. Through decreased energy usage and waste reduction, reducing dependency on fossil fuels and increasing energy efficiency can result in significant operational cost savings. Decarbonization attracts investors and consumers who support businesses with excellent environmental standards, and it is in line with the expanding market need for sustainable goods and services. With governments and businesses making significant investments in these technologies, the growth of solar and wind energy capacity is a significant trend. Due to financial savings and environmental concerns, there is an increasing demand for energy-efficient insulation, lighting, and other items. To cut down on energy use and related emissions, energy efficiency initiatives are being put into place, such as building rules, appliance standards, and industrial energy audits.

Report Coverage

This research report categorizes the market for South Korea decarbonization market based on various segments and regions forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea decarbonization market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment South Korea decarbonization market.

Driving Factors

Increasing environmental awareness and stringent regulations push industries to adopt sustainable practices. Growing demand for energy-efficient solutions and electric vehicles further accelerates market growth. Advances in technology and supportive policies enhance deployment of decarbonization services and infrastructure.

Restraining Factors

Despite significant investments in renewable energy, the country struggles with an underdeveloped grid infrastructure, leading to inefficiencies in energy distribution and integration of intermittent renewable sources.

Market Segmentation

The South Korea decarbonization market share is classified into technology, services, and deployment.

• The renewable energy technologies segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea decarbonization market is segmented by technology into renewable energy technologies, energy efficiency solutions, and electric vehicles (EVs). Among these, the renewable energy technologies segment held a significant share in 2024 and is expected to grow at a substantial CAGR during the forecast period. Strong government policies, rising energy demand, and commitments to carbon neutrality. Expanding solar and wind infrastructure, along with investments in clean energy R&D, are driving rapid adoption and significant growth throughout the forecast period.

• The sustainable transportation services segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea decarbonization market is segmented by services into sustainable transportation services and carbon accounting & reporting services. Among these, the sustainable transportation segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The increasing demand for low-emission mobility solutions. Government incentives, rising adoption of electric and hydrogen vehicles, and expanding public transport infrastructure support growth. Growing environmental awareness and regulatory pressures further drive sustainable transportation’s significant market expansion.

• The on-premises segment dominated share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea decarbonization market is segmented by deployment into on-premises and cloud. Among these, the on-premises segment dominated share in 2024 and is expected to grow at a significant CAGR during the forecast period. Many organizations prefer in-house deployment for critical infrastructure management. Additionally, existing investments in on-premises systems and regulatory compliance requirements

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea decarbonization market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Hanwha Qcells
• Hyundai Engineering
• Doosan Fuel Cell
• Doosan Enerbility
• Hanwha Solutions
• Gridwiz
• SK Ecoplant
• POSCO Energy
• S-Energy
• EcoLinks
• SEMP World
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea decarbonization market based on the below-mentioned segments:

South Korea Decarbonization Market, By Technology

• Renewable Energy Technologies
• Energy Efficiency Solutions
• Electric Vehicles (EVs)

 South Korea Decarbonization Market, By Service

• Sustainable Transportation Services
• Carbon Accounting & Reporting Services

South Korea Decarbonization Market, By Deployment

• On-Premises
• Cloud