BURLINGAME, Calif., Nov. 17, 2023 /PRNewswire/ — According to Coherent Market Insights, global Carbon Credit Market is estimated to be valued at US$ 25.35 billion in 2022 and is expected to exhibit a CAGR of 24.4% during the forecast period (2023-2030). The global carbon credit market is anticipated to show major growth over the forecast future. The growth is driven majorly by factors such as increasing partial use of carbon credits by organizations, as the world is moving toward net zero targets. To achieve these targets, companies are investing significantly into decarbonization through efforts and capital. Moreover, the financial support to local communities is growing. As a result, the global market is likely to gain substantial growth in the coming years.
Market Trends
The energy segment, among sector is gaining traction in the global carbon credit market. Wind power or solar power are utilized in injecting power to the grid. This further replaces the power produced from regular energy sources and reduces the carbon dioxide emissions. These project can give carbon credits in the form of Clean Development Mechanism (CDM) projects. Thus, energy segment is gaining traction and is further anticipated to propel growth of the global carbon credit market over the forecast period.
Request Sample Copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/4382
Key Market Takeaways:
Global Carbon Credit Market is expected to surpass US$ 145.04 Bn by 2030 and is anticipated to witness a CAGR of 24.4% during the forecast period 2023-2030, owing to increasing global warming around the world leading to increasing need for carbon credits.
On the basis of Sector, Energy segment is expected to hold a dominant position, owing to higher adoption of wind or solar energy to replace conventional sources of energy to further reduce emissions of carbon dioxide.
On the basis of region, Europe is expected to hold a dominant position over the forecast period, due to presence of countries such as Germany and the U.K. are considered prominent buyers of carbon credits. These countries are major buyers in the global carbon credit market.
Key players operating in the carbon credit market include Sterling Planet, Inc., WGL Holdings, Inc., terrapass, Enking International, 3 Degrees, Green Mountain Energy, Sustainable Travel International, Native Energy, Clear Sky Climate Solutions, and Cool Effect, Inc etc.
Carbon Credit Market Key Developments:
In November 2022, 3Degrees and Merge Electric Fleet Solutions announced partnership for offering actionable analysis as well as expertise to new and existing fleet customers. 3Degrees plans to monetize charging of Merge in the clean fuel states and offset every EV charger with RECs.
In August 2022, Johnson Controls and 3Degrees collaborated for acceleration of its race to net zero. With the collaboration, the companies will be able to fast-track net zero goals through carbon reduction services.
Read complete market research report, “Carbon Credit Market, By Sector, By Region and Segment Forecast 2023 – 2030“, Published by Coherent Market Insights.
Carbon Credit Market Segmentation:
By Sector:
Energy
Transportation
Residential and Commercial Buildings
Industry
Agriculture
Forestry
Water and Wastewater
By Region:
North America
By Country:
U.S.
Canada
Asia Pacific
By Country:
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Europe
By Country:
Germany
Italy
U.K.
France
Russia
Rest of Europe
Latin America
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Middle East and Africa
By Country/Region:
GCC Countries
South Africa
Rest of Middle East and Africa
Buy this Premium Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/4382
Find more related trending reports below:
Carbon Offset Market, By Project Type, By Geographical Location, By Carbon Offset Standards, By Industry Sectors, By Carbon Offset Mechanisms, By Market Participants, By Offset Project Duration, By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)
Carbon Verification Market, By Type of Carbon Credits (Certified Emission Reductions (CERs), Verified Carbon Units (VCUs), Gold Standard (GS) credits, Climate, Community and Biodiversity (CCB) Standards credits, American Carbon Registry (ACR) credits, Others), By End Use Industry (Energy and Utilities, Transportation, Agriculture and Forestry, Waste Management, Construction, Others), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
Buy Now Pay Later Platforms Market, By End-use Industry (Fashion & Garment Industry, Consumer Electronics, Cosmetic Industry, Healthcare, and Others), By Enterprise Size (SMEs and Large Enterprises), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030
Credit Risk Assessment Market, By Component (Software, Services), By Deployment Model (On-premises, Cloud), -By Organization Size (Large Enterprises, SMEs), By Vertical (BFSI, Telecom & IT, Healthcare, Government, Manufacturing, Retail, Others), By Technology (AI & ML enabled Credit Risk Assessment, Traditional Credit Risk Assessment), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Contact Us:Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights
Phone: US: +1-206-701-6702
UK: +44-020-8133-4027
Japan: +81-050-5539-1737
India: +91-848-285-0837
Email: [email protected]
Website: https://www.coherentmarketinsights.com
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/902389/1792653/Coherent_Market_Insights_Logo.jpg
SOURCE Coherent Market Insights
