Carvalhal's side matched the league leaders for large periods of the game but just could not find an equaliser following Rúben Neves' opener for the away side in the first-half. However, Carvalhal was left pleased with his side's efforts.
He said: "We prepared very well. It was very difficult for them to create goal situations. Our strategy I thought worked very well. We wanted a bit more in attack."
He added: "The first time they are near our goal, they achieve a goal on the second ball. After the game, we have the sensation that we must achieve more than we achieve. We play with quality and heart."
A tough ask for the Owls
It was always going to be a difficult game for the Owls as they headed into this game 21 points behind their opponents with a lengthy injury list. Carvalhal was keen to point out just how difficult it was to create chances against Wolves' solid defence.
He said: "It is not easy to play a team that is very organised like they are. They defended very well with five at the back and two midfielders. It is not easy to break them. They are all the time balanced."
The home crowd gave referee Darren Bond a frosty reception as he departed the pitch at half-time as they felt that he awarded a soft free-kick in the build up to Neves' opener. Carvalhal also felt that it was not a free-kick. He said: "It was not in my opinion. I do not want to talk about the referee. It is very difficult to control."
He added: "They have the luck in the game. We need this kind of luck to win this kind of game."
A lengthy injury list building at Hillsborough
Carvalhal has pointed out in recent weeks that Wednesday's recent dip of form that has now seen them go six games without a win has a lot to do with their lengthy injury list. Both Barry Bannan and Kieren Westwood were ruled out of this match late on as they became the latest to be sidelined.
He said: "We prepare the team with (Bannan) in it. In the last moment of training he jumped and felt a big pain near the stomach. He was very bad in that moment. When he woke up this morning, he felt very bad."
Joe Wildsmith was called up to the starting line-up at very late notice as Westwood pulled up with an injury in the warm up. Carvalhal said that the goalkeeper "felt a pain in his groin" and that "the doctor said he could not kick the ball."
Carvalhal was keen to point out that the Owls "have almost a (full) team out at the moment" with a total of nine players out injured. These include the likes of Jack Hunt, Tom Lees, George Boyd, Kieran Lee, Steven Fletcher, Sam Hutchinson, Fernando Forestieri and Bannan who are all very important players.
What next for Carvalhal?
Despite the result, Carvalhal was left proud of his side considering the situation they currently find themselves in and backs them to improve when players start to return from injury in the coming weeks.
He said: "I am proud about what my players have done tonight. We did exactly what we must do. We must give confidence to them. We will be better in the future."
The 52-year-old was questioned about his future as manager of the club but simply stated that "speculation is speculation" and that he has "a good relationship with the chairman."
The Owls will return to Hillsborough next weekend as they face promotion hopefuls Middlesbrough. Carvalhal stated that he will prepare his side as best as he possibly can to try and pick up the three points and begin to turn their fortunes around.
He said: "We will prepare the game very well to try to win the game. We must play like today but we must be more threat in attack. We must be more aggressive to try and achieve goals."