Carbon Credits Market Size, Emerging Trends, Market Opportunities, Key Players And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Carbon Credits Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, the carbon credits market size has grown exponentially in recent years. It will grow from $26.78 billion in 2023 to $33.8 billion in 2024 at a compound annual growth rate (CAGR) of 26.2%. The growth in the historic period can be attributed to kyoto protocol implementation, clean development mechanism (cdm), voluntary carbon offset programs, renewable energy projects, corporate social responsibility (csr).

The carbon credits market size is expected to see exponential growth in the next few years. It will grow to $79.28 billion in 2028 at a compound annual growth rate (CAGR) of 23.8%. The growth in the forecast period can be attributed to paris agreement commitments, carbon pricing mechanisms, global sustainability initiatives, natural climate solutions, voluntary market growth. Major trends in the forecast period include blockchain technology integration, technology innovations, carbon credit standardization, increased corporate participation, technological innovations in monitoring, .

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Market Drivers and Trends:

The increase in global warming is expected to propel the growth of the carbon credit market going forward. Global warming refers to the long-term heating of the Earth's surface due to human activities, primarily the release of carbon dioxide (CO2) and other greenhouse gases into the atmosphere. The increase in global warming is addressed through the use of carbon credits, which incentivize and promote activities that reduce carbon dioxide and other greenhouse gas emissions. For instance, in August 2023, according to Copernicus EU, a Europe-based provider of Earth observation data, 2023 is currently the third warmest year to date, at 0.43 ºC above the recent average, with the average global temperature in July at 1.5 ºC above preindustrial levels. Furthermore, in January 2022, according to the US National Oceanic and Atmospheric Administration (NOAA), a US-based government agency, the annual temperature of Africa in 2021 was 1.33°C (2.39°F) higher than the continent's average, with West and North Africa experiencing an extremely warm year. Therefore, the increase in global warming is driving the growth of the carbon credit market.

Major companies operating in the carbon credit market are focusing on developing innovative technological solutions, such as the multi-activity carbon credit SaaS platform, to help the world meet its decarbonization targets. A multi-activity carbon credit SaaS platform is a software solution that generates high-quality carbon offsets from multiple mitigation activities by leveraging a variety of data sources and technologies. For instance, in September 2023, CERO Technologies, an India-based software company, launched a carbon credit generation SaaS platform. The platform is called the digital Measurement, Reporting, and Verification (dMRV) platform, which addresses supply constraints, inefficiencies, and credibility issues that currently exist in the market. The platform accelerates carbon credit calculation and verification by interfacing with high-quality data and generating high-quality carbon credits in real time.

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Major Key Players of the Market:

NRG Energy Inc. , Atos SE, WGL Holdings Inc., AltaGas Ltd., Aker Carbon Capture AS, South Pole Group AG, ClimatePartner Gmbh, Bluesource LLC, 3 Degrees Inc., EKI Energy Services Limited, Sustainable Travel International Inc., Cool Effect Inc., NativeEnergy Inc., ClimeCo Corporation, Tasman Environmental Markets Pty Ltd., Carbon Care Asia Limited, Carbon Credit Capital LLC, Carbonbetter Inc., Carbonfund.org Foundation Inc., Clearsky Climate Solutions LLC, Climate Impact Partners LLC, ClimateTrade Inc., Climetrek Ltd., Base Carbon Inc., Finite Carbon Corporation, Forest Carbon Ltd., Moss Earth LLC, NatureOffice Gmbh, Sterling Planet Inc., Terrapass Inc.

Carbon Credits Market 2024 Key Insights:

• The carbon credits market is expected to grow to $79.28 billion in 2028 at a compound annual growth rate (CAGR) of 23.8%.
• Rising Global Temperatures Fueling Surge In Carbon Credit Market
• Advancing The Carbon Credit Market Through Multi-Activity SaaS Platforms
• Europewas the largest region in the carbon credits market in 2023

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