Carbon Credit Trading Market Size, Industry Analysis Report By Types (REDD Carbon Offset, Renewable Energy, Landfill Methane Projects), By Applications (Industrial, Household, Energy Industry) & Region – Forecasts
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 225
- CATEGORY
- Banking & Finance
The global Carbon Credit Trading market size was valued at around USD 2000.67 million in 2021 and is expected to grow at a CAGR of 27.56% during the forecast period, reaching USD 9700.0 million by 2027. The authority to emit one tonne of carbon dioxide or the equivalence of another greenhouse gas is granted to the holder of a carbon credit, which is effectively an offset for the manufacturers of such gases. Reducing carbon dioxide and other greenhouse gases from industrial activity is the major objective of the generation of carbon credits in order to mitigate the effects of global warming. A method for reducing emissions of greenhouse gases is a carbon credit. Emissions limits for greenhouse gases are determined by regulatory or governmental bodies. The quick decrease in emissions may not be financially viable for some businesses. They can thus buy carbon credits to meet the emission cap. A significant development in the global Carbon Credit Trading market is the adoption of international carbon credit by numerous nations and state governments. The European Union has widely approved the Kyoto Protocol, and as a result, the EU started the EU Emission Trading Scheme (EU ETS) in the year 2015.
The Carbon Credit Trading Market - Growth Factors
The advantage of the carbon credit trading market is the infusion of private financiers to environmentally friendly ventures that would not have begun absent the market. These initiatives assist the environment in numerous ways, including preserving biodiversity, lowering pollution levels, and enhancing public health. Additionally, more businesses are investing in machine learning and artificial intelligence that contribute to sustainable development and the reduction of carbon emissions as a result of the advantages of unutilized carbon credits. The global carbon credit trading market is also being driven by the increase in businesses pursuing carbon neutrality. A new initiative has been started by the Institute of International Finance (IIF) to grow the market for carbon credit trading. Authorities all around the world may not need to exert as much effort to cut back on carbon and emissions of greenhouse gases if there is substantial demand for carbon credits. But a globally accessible, transparent, and easy-to-verify carbon credit trading market is a requirement for the world. The difficulty in determining the proper price of carbon credits is one of the issues with the existing market.
The Carbon Credit Trading Market – Market Trends
• The considerable increase is due to the continued emphasis on businesses reducing their carbon emissions and to the possibility of mandates from various nations.
• Non-profit organizations are utilizing them to fund as well as promote climate initiatives, and the expanding industry is expected to attract funds from financial institutions. This is considered the key trend of the Carbon Credit Trading Market.
• The enormous rise in people and corporations opting to offset their emissions by financing carbon-reducing initiatives in developing nations is largely due to the increasing concern about the global climate issue.
The Carbon Credit Trading Market – Segmentation
The Carbon Credit Trading market is segregated into type, application, and region.
Based on Types: The market is fragmented into:
• REDD Carbon Offset
• Renewable Energy
• Landfill Methane Projects
Based on Applications: The market is segregated into:
• Industrial
• Household
• Energy Industry
The Carbon Credit Trading Market –Regional Analysis
The largest market share is anticipated to be held by Europe throughout the forecasted period. The United Kingdom, Germany, and other industrialized European nations are regarded as significant buyers in the worldwide market for carbon credit trading. During the projection period, Asia Pacific is anticipated to have significant expansion. India is one of the market's up-and-coming nations for carbon credits. Indian businesses are allowed to sell excess credits to industrialized nations because India's greenhouse gas (GHG) emission is less than the carbon cap limit.
The Carbon Credit Trading Market – Key Market players
The major players in the market are CBEEX, Bioassets, Carbon Clear, Aera Group, South Pole Group, Green Trees, WayCarbon, Carbon Credit Capital, Allcot Group, and Forest Carbon.
Report scope
Global Carbon Credit Trading Market: Historical Years- 2018-2021
Global Carbon Credit Trading Market: Forecast Years- 2022-2030
Global Carbon Credit Trading Market 2022- USD 2000.67 Million
Global Carbon Credit Trading Market CAGR- 27.56%
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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