Product Code: PM3570
The global carbon credit market size is expected to reach USD 4,028.24 billion by 2032, according to a new study by Polaris Market Research. The report "Carbon Credit Market Share, Size, Trends, Industry Analysis Report, By Type (Compliance, Voluntary), By Project Type (Avoidance/Reduction Projects, Removal/Sequestration Projects), By End-use, By Region, And Segment Forecasts, 2023-2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Companies are increasingly realizing the importance of sustainability and the need to reduce their carbon footprint. Corporate social responsibility initiatives have become a priority for many organizations, driven by the recognition that sustainable practices and emissions reductions are beneficial for the environment and their reputation and long-term viability. Purchasing carbon credits allows companies to offset their emissions by investing in projects that reduce GHG emissions, thereby demonstrating their commitment to sustainability and acting against climate change.
Moreover, public awareness and concern about climate change have been growing, driving demand for carbon credits. Individuals and organizations are becoming more conscious of their environmental impact and are seeking ways to mitigate their carbon footprint. Carbon credits provide a tangible means for individuals and businesses to take responsibility for their emissions and support projects that contribute to emissions reductions or sustainable development.
Establishing carbon credit markets can provide several benefits. It creates economic incentives for companies to invest in emission reduction projects, promotes the development of clean technologies, and encourages sustainable practices. Furthermore, carbon credit markets can support the growth of renewable energy sectors and contribute to the overall transition to a low-carbon economy. Carbon credit growth in India will depend on the regulations and frameworks established under the Energy Conservation Bill 2022. These may include guidelines for project eligibility, certification processes, monitoring and verification mechanisms, and the overall governance of the market. It would be advisable to refer to the bill's specific provisions or follow any subsequent updates or notifications from the Indian government to obtain accurate and up-to-date information on the establishment of carbon credit markets in the country.
The requirement for companies to purchase carbon credits as part of regulatory compliance serves multiple purposes. Firstly, it helps to create a financial incentive for companies to reduce their emissions by providing a cost associated with carbon emissions. By internalizing the cost of emissions, companies are motivated to invest in cleaner technologies, energy efficiency measures, and other emission reduction initiatives.
Carbon Credit Market Report Highlights
Compliance segment emerged as the largest shareholder, due to regulated policies by the respective governments
Avoidance segment garnered largest share, owing to rise in renewable projects, and increasing necessity to offset carbon emissions
Power segment witnessed the highest growth rate, owing to rise in the investments in the power sectors and allied industries
The global players include: 3Degrees, Carbon Care Asia, CarbonBetter, ClearSky Climate Solutions, EKI Energy Services, Finite Carbon, NativeEnergy, South Pole, Torrent Power, and WGL Holdings
Polaris Market Research has segmented the carbon credit market report based on type, project type, end use, and region:
Carbon Credit, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Carbon Credit, Project Type Outlook (Revenue-USD Billion, 2019 - 2032)
- Avoidance / Reduction Projects
- Removal / Sequestration Projects
- Nature-based
- Technology-based
Carbon Credit, End Use Outlook (Revenue-USD Billion, 2019 - 2032)
- Power
- Energy
- Aviation
- Transportation
- Buildings
- Industrial
- Others
Carbon Credit, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Carbon Credit Market Insights
- 4.1. Carbon Credit Market - End Use Snapshot
- 4.2. Carbon Credit Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing implementation by government
- 4.2.1.2. Rise in partial use of carbon credits by companies
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Restoration of carbon emissions from one location to anothers
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Carbon Credit Market End Use Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Carbon Credit Market, by Project Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 5.3. Avoidance / Reduction Projects
- 5.3.1. Global Carbon Credit Market, by Avoidance / Reduction Projects, by Region, 2019-2032 (USD Billion)
- 5.4. Removal / Sequestration Projects
- 5.4.1. Global Carbon Credit Market, by Removal / Sequestration Projects, by Region, 2019-2032 (USD Billion)
- 5.5. Nature-based
- 5.5.1. Global Carbon Credit Market, by Nature-based, by Region, 2019-2032 (USD Billion)
- 5.6. Technology-based
- 5.6.1. Global Carbon Credit Market, by Technology-based, by Region, 2019-2032 (USD Billion)
6. Global Carbon Credit Market, by Type
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 5.3. Compliance
- 5.3.1. Global Carbon Credit Market, by Compliance, by Region, 2019-2032 (USD Billion)
- 5.4. Voluntary
- 5.4.1. Global Carbon Credit Market, by Voluntary, by Region, 2019-2032 (USD Billion)
7. Global Carbon Credit Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 7.3. Power
- 7.3.1. Global Carbon Credit Market, by Power, By Region, 2019-2032 (USD Billion)
- 7.4. Energy
- 7.4.1. Global Carbon Credit Market, by Energy, By Region, 2019-2032 (USD Billion)
- 7.5. Aviation
- 7.5.1. Global Carbon Credit Market, by Aviation, By Region, 2019-2032 (USD Billion)
- 7.6. Transportation
- 7.6.1. Global Carbon Credit Market, by Transportation, By Region, 2019-2032 (USD Billion)
- 7.7. Buildings
- 7.7.1. Global Carbon Credit Market, by Buildings, By Region, 2019-2032 (USD Billion)
- 7.8. Industrial
- 7.8.1. Global Carbon Credit Market, by Industrial, By Region, 2019-2032 (USD Billion)
- 7.9. Others
- 7.9.1. Global Carbon Credit Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Carbon Credit Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Carbon Credit Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Carbon Credit Market - North America
- 8.3.1. North America: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.3.2. North America: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.3.3. North America: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.3.4. Carbon Credit Market - U.S.
- 8.3.4.1. U.S.: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.3.4.2. U.S.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.3.4.3. U.S.: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.3.5. Carbon Credit Market - Canada
- 8.3.5.1. Canada: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.3.5.2. Canada.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.4. Carbon Credit Market - Europe
- 8.4.1. Europe: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.4.2. Europe.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.4.3. Europe: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.4.4. Carbon Credit Market - UK
- 8.4.4.1. UK: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.4.4.2. UK.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.4.5. Carbon Credit Market - France
- 8.4.5.1. France: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.4.5.2. France.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.4.5.3. France: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.4.6. Carbon Credit Market - Germany
- 8.4.6.1. Germany: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.4.6.2. Germany.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.4.7. Carbon Credit Market - Italy
- 8.4.7.1. Italy: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.4.7.2. Italy.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.4.8. Carbon Credit Market - Spain
- 8.4.8.1. Spain: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.4.8.2. Spain.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.4.9. Carbon Credit Market - Netherlands
- 8.4.9.1. Netherlands: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.4.10. Carbon Credit Market - Russia
- 8.4.10.1. Russia: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.4.10.2. Russia.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.5. Carbon Credit Market - Asia Pacific
- 8.5.1. Asia Pacific: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.5.4. Carbon Credit Market - China
- 8.5.4.1. China: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.5.4.2. China.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.5.4.3. China: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.5.5. Carbon Credit Market - India
- 8.5.5.1. India: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.5.5.2. India.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.5.5.3. India: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.5.6. Carbon Credit Market - Malaysia
- 8.5.6.1. Malaysia: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.5.7. Carbon Credit Market - Japan
- 8.5.7.1. Japan: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.5.7.2. Japan.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.5.8. Carbon Credit Market - Indonesia
- 8.5.8.1. Indonesia: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.5.9. Carbon Credit Market - South Korea
- 8.5.9.1. South Korea: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.6. Carbon Credit Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.6.4. Carbon Credit Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.6.5. Carbon Credit Market - UAE
- 8.6.5.1. UAE: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.6.5.2. UAE.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.6.6. Carbon Credit Market - Israel
- 8.6.6.1. Israel: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.6.6.2. Israel.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.6.7. Carbon Credit Market - South Africa
- 8.6.7.1. South Africa: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.7. Carbon Credit Market - Latin America
- 8.7.1. Latin America: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.7.2. Latin America.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.7.4. Carbon Credit Market - Mexico
- 8.7.4.1. Mexico: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.7.5. Carbon Credit Market - Brazil
- 8.7.5.1. Brazil: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
- 8.7.6. Carbon Credit Market - Argentina
- 8.7.6.1. Argentina: Carbon Credit Market, by Project Type, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina.: Carbon Credit Market, by End Use, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Carbon Credit Market, by Type, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. 3Degrees
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2.Carbon Care Asia
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. CarbonBetter
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. ClearSky Climate Solutions
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. EKI Energy Services
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Finite Carbon
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. NativeEnergy
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. South Pole
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Torrent Power
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. WGL Holdings
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development