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Carbon Credit Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
How Will the Carbon Credit Market Grow, and What Is the Projected Market Size?The carbon credit market has experienced exponential growth in recent years. It is forecasted to grow from $526.32 billion in 2024 to $694.62 billion in 2025 at a CAGR of 32.0%. This growth is attributed to international climate agreements, corporate social responsibility (CSR) renewable energy projects, forest conservation, reforestation, and emission reduction initiatives.
The carbon credit market is projected to reach $1,891.27 billion by 2029, with a CAGR of 28.5%. Growth is driven by climate finance, cap-and-trade systems, global carbon pricing, and emission reduction in supply chains. Major trends include offset programs, blockchain integration, and nature-based solutions.
What Key Elements Are Boosting Growth in the Carbon Credit Market?
The need to reduce global carbon emissions is driving the carbon credit market. Carbon credits offer financial incentives for businesses to reduce their carbon emissions. According to the United Nations Framework Convention on Climate Change, emissions must be cut by 45% by 2030 to limit global temperature rise, which supports the growth of the carbon credit market.
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Who Are the Major Industry Players Fueling Carbon Credit Market Expansion?
Major companies operating in the carbon credit market report are NRG Energy Inc., Atos SE, WGL Holdings Inc., Sterling Planet Inc., AltaGas Ltd., EKI Energy Services Limited, Aker Carbon Capture AS, South Pole Group AG, Base Carbon Inc., ClimatePartner Gmbh, Bluesource LLC, 3 Degrees Inc., Carbon Care Asia Limited, Sustainable Travel International Inc., Cool Effect Inc., NativeEnergy Inc., Carbonbetter Inc., ClimeCo Corporation, Tasman Environmental Markets Pty Ltd., Carbon Credit Capital LLC, Carbonfund.org Foundation Inc., Clearsky Climate Solutions LLC, Climate Impact Partners LLC, ClimateTrade Inc., Climetrek Ltd., Finite Carbon Corporation, Forest Carbon Ltd., Moss Earth LLC, NatureOffice Gmbh, Terrapass Inc.
Which Key Developments Are Influencing the Carbon Credit Market?
Leading companies in the carbon credit market are working on innovative solutions like blockchain-based systems to deliver reliable customer service. A blockchain-based solution uses blockchain technology to solve specific issues or improve existing processes. For example, in May 2023, Ernst & Young Global Limited, a UK-based professional services firm, launched EY OpsChain ESG, a blockchain solution for emissions and carbon credit traceability through tokenization. Built on Ethereum, this platform provides a verifiable view of CO2 emissions for businesses struggling to accurately track their carbon footprints. It offers transparency for consumers, business partners, and regulators, facilitating better-informed decisions on environmental, social, and corporate governance (ESG). EY OpsChain ESG adheres to InterWork Alliance for Carbon Emissions Tokens standards and allows enterprises to verify the authenticity of carbon offsets used to reduce their environmental impact. The solution operates on the belief that blockchain can connect corporate operations and global ecosystems across organizational boundaries.
How Is the Segmentation of the Carbon Credit Market Defined?
The carbon credit market covered in this report is segmented -
1) By Type: Compliance, Voluntary
2) By Project Type: Avoidance Or Reduction Projects, Removal Or Sequestration Projects
3) By End-Use: Power, Energy, Aviation, Transportation, Buildings, Industrial, Other End-Uses
Subsegments:
1) By Compliance: Regulated Carbon markets, Cap-And-Trade Programs
2) By Voluntary: Voluntary Carbon markets, Project-Based Offsets
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What Is the Leading Region in the Carbon Credit Market?
North America was the largest region in the carbon credit market in 2024. The regions covered in the carbon credit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is Covered In The Carbon Credit Global Market Report?
- Market Size Analysis: Analyze the Carbon Credit Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Carbon Credit Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Carbon Credit Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Carbon Credit Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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