Carbon Credit Market Size - By Type, By End Use & Forecast, 2023

List of Tables

Carbon Credit Market size is anticipated to expand at more than 14.2% CAGR from 2023-2023 driven by the surge in voluntary corporate commitments to mitigate environmental impacts.

Of late, multiple companies are proactively engaging in carbon credit programs to offset their emissions voluntarily for aligning with the sustainability and climate action goals. For instance, in April 2023, Spanish electricity provider Iberdrola SA formed a new business unit for creating nature-based carbon credits to reduce its worldwide carbon emissions. Such voluntary corporate commitments are surging the demand for carbon credits. Additionally, the increasing availability of green finance and investment options for encouraging businesses to allocate resources to carbon credit initiatives will further support the industry expansion.

The carbon credit industry is segmented into type, end-use, and region.

Based on type, the voluntary carbon credit market is projected to gain significant traction from 2023-2032 due to businesses and individuals increasingly prioritizing sustainability and environmental responsibility. Voluntary carbon credit allows entities to offset their carbon emissions voluntarily whilst contributing to global emission reduction goals. The rising awareness of climate change and the higher importance of corporate social responsibility will also boost the demand for voluntary carbon credits.

Carbon credit market from the renewable energy end-use segment witnessed high demand in 2022 and is set to exhibit a robust growth rate through 2032. Several companies are investing in renewable energy technologies while actively participating in carbon credit programs. Renewable energy initiatives, such as wind, solar, and hydropower projects, often generate carbon credits by reducing greenhouse gas emissions, further amplifying the demand for carbon credits in the renewable energy sector.

Regionally, the Asia Pacific carbon credit market is expected to witness healthy CAGR through 2032 due to heightened environmental awareness, the surge in government initiatives, and sustainable development goals. To cite an instance, in March 2023, world's fifth-largest CO2 emitter Japan announced plans to launch a carbon pricing program in phases beginning in April to incentivize industries to reduce emissions and attain carbon neutrality by 2050. Furthermore, the expanding industrialization, coupled with the strong commitment to green practices will drive the regional industry outlook.

Product Code: 7048

Chapter 1 Methodology & Scope

1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Unpaid sources

Chapter 2 Executive Summary

2.1 Carbon credit industry 360 degree synopsis, 2019 - 2032
- 2.1.1 Business trends
- 2.1.2 Type trends
- 2.1.3 End use trends
- 2.1.4 Regional trends

Chapter 3 Carbon Credit Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Vendor matrix
3.2 Regulatory landscape
3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.5 Porter's Analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
3.6 PESTEL Analysis

Chapter 4 Competitive Benchmarking

4.1 Innovation & sustainability landscape
4.2 Competitive landscape, 2023
- 4.2.1 Strategic dashboard

Chapter 5 Carbon Credit Market, By Type (USD Million)

5.1 Key type trends
5.2 Voluntary
5.3 Compliance

Chapter 6 Carbon Credit Market, By End Use (USD Million)

6.1 Key end use trends
6.2 Agriculture
6.3 Carbon Capture & Storage
6.4 Chemical Process
6.5 Energy efficiency
6.6 Industrial
6.7 Forestry & Land Use
6.8 Renewable Energy
6.9 Transportation
6.10 Waste Management
6.11 Others

Chapter 7 Carbon Credit Market, By Region (USD Million)

7.1 Key regional trends
7.2 North America
7.3 Europe
7.4 Asia Pacific
7.5 Middle East & Africa
7.6 Latin America

Chapter 8 Company Profiles

8.1 The Carbon Trust
8.2 Climate Impact Partners
8.3 South Pole
8.4 3Degrees
8.5 VERRA
8.6 TerraPass
8.7 CarbonClear
8.8 PwC
8.9 EcoAct
8.10 ClimeCo LLC.
8.11 Ecosecurities
8.12 ALLCOT
8.13 Atmosfair
8.14 The Carbon Collective Company
8.15 Sterling Planet Inc.
8.16 WGL Holdings, Inc.
8.17 Green Mountain Energy Company
8.18 The Carbon Collective Company