Carbon Offset/Carbon Credit Market

Carbon Offset/Carbon Credit Market by Type (Voluntary Market, Compliance Market), Project Type (Avoidance/Reduction Projects, Removal/Sequestration Projects (Nature-based, Technology-based)), End-User and Region - Global Forecast to 2028

Report Code: EP 8607 Apr, 2023, by marketsandmarkets.com

[191 Pages Report] The global carbon offset/carbon credit market in terms of revenue was estimated to be worth $414.8 billion in 2023 and is poised to reach $1,602.7 billion by 2028, growing at a CAGR of 31.0% from 2023 to 2028. The voluntary carbon market continues to play a critical role in that transition by helping to channel funding into projects that reduce carbon emissions or remove carbon from the atmosphere. Since, the need to curb global warming has significantly increased, the carbon offsetting have become fundamental to achieving net-zero greenhouse-gas emissions.

Carbon Offset/Carbon Credit Market

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Carbon Offset/Carbon Credit Market

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Carbon Offset/Carbon Credit Market Dynamics

Driver: Rise in partial use of carbon credits by companies

As the world moves toward net zero targets,  companies are putting considerable effort and capital into decarbonization. Climate change usually requires a complete economic shift. The demand for carbon credits will significantly grow in the coming decades as the companies are focused on net zero targets and are working toward reducing carbon emissions. A carbon credit represents the right to emit greenhouse gases equivalent to one ton of carbon dioxide. Several businesses are now adopting this technique of partially using carbon credits, which is benefitting them significantly. They are getting involved in projects and activities that are helping them generate offsets. They use as many credits as they want according to the limit set for a project and if they have a few left, they are used later for another project. This not only helps them save a significant amount of money, which can aid them in investing in more such credits in the future when required. Hence, these factors help in driving the market for carbon offset/credits.

Restraint: Restoration of carbon emissions from one location to another

Forestry projects are particularly prone to leakage of offsets, which is difficult to quantify for forestry (and other offsets) projects. Different protocols indicate various approaches to quantify leakage so there is less consensus on the validity of any approach. For instance, there is a reduction in the harvest in North Carolina due to an improved forest management project. The project intensifies forest harvest in the Pacific Northwest or Indonesia. In this case, the project has only shifted the location of emissions, not leading to a net reduction. Hence, the location of emissions has changed and has caused emissions at another place, leading to the non-removal of carbon from the atmosphere.

Opportunities: Rising financial support to local communities

The demand for carbon credits will grow significantly in the coming decades. The voluntary offset market offers an opportunity to achieve global greenhouse emission reductions while addressing the development needs of developing countries. Involving developing nations in climate protection allows them to achieve carbon emission reduction and avoidance while earning revenues from selling their offsets. They can then use the revenues to finance development projects for the poor communities in their countries. Carbon projects are designed to maximize nature’s contribution to the fight against climate change. By protecting and restoring forests, grasslands, and other ecosystems, the increased carbon storage can be measured and turned into carbon credits, which leading companies and individuals can buy to help them meet their climate goals. The goal is to develop bankable carbon initiatives to show they can deliver conservation, community, and financial returns, to encourage others to replicate the model, and together achieve large-scale wins for climate, biodiversity, and livelihood across Africa.

Challenges: Fluctuating prices of carbon credits

The increasing price of carbon credits may act as a market challenge during the forecast period. For humankind to sustain a livable atmosphere on the planet, several countries have committed to achieving carbon neutralization. Countries mainly reduce carbon emissions by regulations through a carbon tax or by establishing a carbon market using economic stimuli. Energy factors had a long-term impact on the carbon market, and economic factors had a short-term shock on the carbon market, whereas the economic recession has led to fluctuations in the carbon market. According to the World Bank, carbon prices have risen sharply in the past year, and this is mostly due to the increased demand as decarbonization efforts accelerate. The rapid increase in the value of offsets reflects both the rising prices and the rising demand from corporate buyers leading to higher transacted offset volumes.

Carbon Offset Market Ecosystem

Prominent companies in this market include well-established, project developers and exchange partners. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include South Pole Group (Switzerland), 3Degrees (US), Finite Carbon (US), EKI Energy Services Ltd. (India), and NativeEnergy (US).

Carbon Offset/Carbon Credit Market  Size, and Share

The voluntary segment, by type, is expected to be the fastest market during the forecast period.

This report segments the carbon offset/carbon credits market based on type into voluntary and compliance. Voluntary market is free from regulations compelled by authorities in the compliance market. With the improvement in the transparency and clarity surrounding the quality of credits, the participants can actively participate in the voluntary market with reliability.

By End-User, the power segment is expected to be the largest during the forecast period

This report segments the carbon offset/carbon credits market based on end-user into industrial, power, energy, transportation, buildings, aviation, and others. Other end-users include forestry, agriculture, and waste. The power segment is expected to be the largest segment during the forecast period. The power sector is a large emitting sector and uses low-GHG technologies that are commercially available and hence they are the largest segment adopting carbon offsetting projects and schemes.

“Asia Pacific”: The fastest in the carbon offset/carbon credit market”

Asia Pacific is expected to fastest growing region in the carbon offset/carbon credit market between 2023–2028, followed by the Europe. ETS could become a major climate policy tool to help China realize its Nationally Determined Contribution (NDC) to the Paris Agreement on climate change and its long-term low-carbon strategy. Hence, these factors are expected to fuel the growth of the market in the Asia Pacific region.

Carbon Offset/Carbon Credit Market  Size, and Share

Key Market Players

The carbon offset/carbon credit market is dominated by a few major players that have a wide regional presence. The major players in the carbon offset market are South Pole Group (Switzerland), 3Degrees (US), Finite Carbon (US), EKI Energy Services Ltd. (India), and NativeEnergy (US). Strategies such as partnerships, collaborations, and mergers are followed by these companies to capture a larger share of the market.

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Scope of the Report

Report Metric

Details

Market size available for years

2021–2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD Million/Billion)

Segments covered

Carbon Offset/Carbon Credit Market by type, project type, end-user, and region.

Geographies covered

Asia Pacific, North America, Europe, RoW

Companies covered

South Pole Group (Switzerland), 3Degrees (US), Finite Carbon (US), EKI Energy Services Ltd. (India), and NativeEnergy (US), CarbonBetter (US), Carbon Care Asia Limited (China), Terrapass (US), Climetrek Ltd. (US), Carbon Credit Capital (US), Natureoffice GmbH (Germany), Climate Partner GmbH (Germany), Climate Trade (US), ForestCarbon (UK), Moss.Earth (Brazil), Bluesource LLC (US), TEM (Tasman Environmental Markets (Australia), Climate Impact Partners (US), Carbonfund (US), Climeco LLC (US)

This research report categorizes the market by type, project type, end-user, and region.

On the basis of by type, the carbon offset/carbon credit market has been segmented as follows:
  • Compliance Market
  • Voluntary Market
On the basis of project type, the market has been segmented as follows:
  • Avoidance/Reduction projects
  • Removal/Sequestration projects
    • Nature-based
    • Technology-based
On the basis of end-user, the carbon offset/carbon credit market has been segmented as follows:
  • Power
  • Energy
  • Aviation
  • Transportation
  • Industrial
  • Buildings
  • Others
On the basis of region, the market has been segmented as follows:
  • Asia Pacific
  • Europe
  • North America
  • RoW

Recent Developments

  • In November 2022, 3Degrees partnered with Merge Electric Fleet Solutions to provide actionable analysis and decades of expertise to existing and new fleet customers. 3Degrees will monetize Merge’s charging in the clean fuels states (CA, OR, WA) and offset all EV charging with RECs.
  • In August 2022, Johnson Controls collaborated with 3Degrees to accelerate the race to net zero. The collaboration fast-tracks net zero goals through carbon reduction services.
  • In August 2022, Siemens Smart Infrastructure and South Pole partnered to offer a full range of solutions and financing models for companies to reduce energy-related emissions.
  • In August 2021, South Pole partnered with Landcare NSW, to develop climate action projects across New South Wales, Australia. The partnership brings together South Pole’s global and local expertise as a project developer with Landcare NSW’s strong community network, creating opportunities for Landcare members across the whole state via the range of carbon and biodiversity project options available.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 24)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 INCLUSIONS AND EXCLUSIONS 
           TABLE 1 CARBON OFFSET/CARBON CREDIT MARKET, BY TYPE: INCLUSIONS AND EXCLUSIONS
           TABLE 2 MARKET, BY PROJECT TYPE: INCLUSIONS AND EXCLUSIONS
           TABLE 3 MARKET, BY END-USER: INCLUSIONS AND EXCLUSIONS
           TABLE 4 MARKET, BY REGION: INCLUSIONS AND EXCLUSIONS
    1.4 STUDY SCOPE 
           1.4.1 CARBON OFFSET/CARBON CREDITS MARKET SEGMENTATION
           1.4.2 GEOGRAPHIC SCOPE
    1.5 YEARS CONSIDERED 
    1.6 CURRENCY CONSIDERED 
    1.7 LIMITATIONS 
    1.8 STAKEHOLDERS 
    1.9 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 29)
    2.1 RESEARCH DATA 
           FIGURE 1 CARBON OFFSET/CARBON CREDIT MARKET: RESEARCH DESIGN
    2.2 DATA TRIANGULATION 
           FIGURE 2 DATA TRIANGULATION
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    2.2.2.1 Breakdown of primaries
                    2.2.2.2 Key data from primary sources
                               FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION,  AND REGION
                               FIGURE 4 MAIN METRICS CONSIDERED WHILE ANALYZING AND ASSESSING DEMAND FOR CARBON OFFSETS
    2.3 MARKET SIZE ESTIMATION 
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.3.3 DEMAND-SIDE ANALYSIS
                    2.3.3.1 Regional analysis
                    2.3.3.2 Country analysis
                    2.3.3.3 Demand-side assumptions
                    2.3.3.4 Demand-side calculations
           2.3.4 FORECAST
           2.3.5 IMPACT OF RECESSION
 
3 EXECUTIVE SUMMARY (Page No. - 38)
    TABLE 5 CARBON OFFSET/CARBON CREDIT MARKET SNAPSHOT 
    FIGURE 7 EUROPE DOMINATED MARKET, IN TERMS OF SHARE, IN 2022 
    FIGURE 8 COMPLIANCE MARKET TO HOLD LARGER SHARE OF MARKET, BY TYPE, FROM 2023 TO 2028 
    FIGURE 9 AVOIDANCE/REDUCTION PROJECTS TO HOLD LARGER MARKET SHARE,  BY PROJECT TYPE, THROUGHOUT FORECAST PERIOD 
    FIGURE 10 POWER SEGMENT TO HOLD LARGEST SHARE OF CARBON OFFSET/CARBON CREDITS MARKET,  BY END-USER, THROUGHOUT FORECAST PERIOD 
 
4 PREMIUM INSIGHTS (Page No. - 42)
    4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN CARBON OFFSET/CARBON CREDIT MARKET 
           FIGURE 11 INCREASING FOCUS ON NET-ZERO TARGETS TO DRIVE MARKET FOR CARBON OFFSETS BETWEEN 2023 AND 2028
    4.2 CARBON OFFSET/CARBON CREDIT MARKET, BY REGION 
           FIGURE 12 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN MARKET DURING FORECAST PERIOD
    4.3 EUROPE: MARKET, BY TYPE AND COUNTRY, 2022 
           FIGURE 13 COMPLIANCE MARKET AND GERMANY TO BE LARGEST SHAREHOLDERS IN EUROPEAN MARKET IN 2022
    4.4 MARKET, BY TYPE 
           FIGURE 14 COMPLIANCE MARKET TO ACCOUNT FOR LARGER SHARE IN MARKET IN 2028
    4.5 MARKET, BY PROJECT TYPE 
           FIGURE 15 AVOIDANCE/REDUCTION PROJECTS TO ACCOUNT FOR LARGER MARKET SHARE THAN REMOVAL/SEQUESTRATION PROJECTS IN 2028
    4.6 MARKET, BY END-USER 
           FIGURE 16 POWER SEGMENT TO DOMINATE CARBON OFFSET/CARBON CREDITS MARKET,  BY END-USER, IN 2028
 
5 MARKET OVERVIEW (Page No. - 46)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 17 MARKET DYNAMICS FOR CARBON OFFSET/CARBON CREDIT MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Growing need to reduce global warming and carbon emissions
                               FIGURE 18 GLOBAL ENERGY-RELATED CO2 EMISSIONS, 2010 TO 2021
                    5.2.1.2 Rise in partial use of carbon credits by companies
                               FIGURE 19 ANNUAL INVESTMENTS IN CLEAN ENERGY, ENERGY EFFICIENCY,  AND INFRASTRUCTURE PROJECTS (USD BILLION)
                    5.2.1.3 Increasing investments in carbon capture technologies
                               TABLE 6 SELECTED INVESTMENTS IN CARBON FOOTPRINT
           5.2.2 RESTRAINTS
                    5.2.2.1 Restoration of carbon emissions from one location to another
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing number of regulatory requirements and industry association standards
                               TABLE 7 STATUS AND SECTORS COVERED IN EMISSION TRADING SCHEMES WORLDWIDE, 2021
                               TABLE 8 CREDITS ISSUED, REGISTERED ACTIVITIES, AVERAGE 2021 PRICE, COVERED BY CREDITING MECHANISMS
                    5.2.3.2 Rising financial support to local communities
           5.2.4 CHALLENGES
                    5.2.4.1 Fluctuating prices of carbon credits
                               FIGURE 20 GLOBAL CARBON MARKET ANNUAL TRADING VALUE,  2012–2021 (USD BILLION)
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR CARBON OFFSET/CREDIT PROVIDERS
                    FIGURE 21 REVENUE SHIFT FOR CARBON OFFSET PROVIDERS
    5.4 TECHNOLOGY ANALYSIS 
           5.4.1 BLOCKCHAIN-LED PROJECT INITIATIVES
    5.5 MARKET MAP 
           FIGURE 22 MARKET MAP: CARBON OFFSET/CARBON CREDITS MARKET
           TABLE 9 CARBON OFFSET/CARBON CREDITS MARKET: ROLE OF COMPANIES IN ECOSYSTEM
    5.6 VALUE CHAIN ANALYSIS 
           FIGURE 23 MARKET: VALUE CHAIN ANALYSIS
           5.6.1 OFFSET PRODUCERS
           5.6.2 PROJECT DEVELOPERS/THIRD-PARTY ORGANIZATIONS
           5.6.3 BROKERS/EXCHANGE PARTNERS
           5.6.4 END-USERS/CARBON EMITTERS
    5.7 PRICING ANALYSIS 
           5.7.1 AVERAGE SELLING PRICE OF CARBON CREDITS, BY TYPE
                    TABLE 10 AVERAGE SELLING PRICE OF CARBON CREDITS, 2021 (USD/TON)
                    TABLE 11 REGION-WISE AVERAGE SELLING PRICE RANGE OF CARBON CREDITS,  BY TYPE, 2021 (USD/TON)
                    FIGURE 24 AVERAGE SELLING PRICE OF CARBON CREDIT TYPES, BY REGION
    5.8 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 12 MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
           5.8.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 14 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 15 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 16 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.8.2 CODES AND REGULATIONS RELATED TO MARKET
                    TABLE 17 MARKET: CODES AND REGULATIONS
           5.8.3 STANDARDS RELATED TO CARBON OFFSET/CARBON CREDIT
                    TABLE 18 CARBON OFFSET/CARBON CREDITS MARKET: STANDARDS
    5.9 INNOVATIONS AND PATENT REGISTRATIONS 
           TABLE 19 MARKET: INNOVATIONS AND PATENT REGISTRATIONS, JANUARY 2020–DECEMBER 2021
    5.10 PORTER’S FIVE FORCES ANALYSIS 
           FIGURE 25 CARBON OFFSET/CARBON CREDIT MARKET: PORTER’S FIVE FORCES ANALYSIS
           TABLE 20 MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.10.1 THREAT OF SUBSTITUTES
           5.10.2 BARGAINING POWER OF SUPPLIERS
           5.10.3 BARGAINING POWER OF BUYERS
           5.10.4 THREAT OF NEW ENTRANTS
           5.10.5 INTENSITY OF COMPETITIVE RIVALRY
    5.11 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 26 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR  TOP 3 END-USERS
                    TABLE 21 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USERS
    5.12 BUYING CRITERIA 
                    FIGURE 27 KEY BUYING CRITERIA FOR TOP 3 END-USERS
                    TABLE 22 KEY BUYING CRITERIA FOR TOP 3 END-USERS
    5.13 CASE STUDY ANALYSIS 
           5.13.1 BANCO SABADELL TO MOVE FORWARD WITH CARBON OFFSETTING WITH CLIMATE TRADE
                    5.13.1.1 Problem statement: 2021
                    5.13.1.2 Solution
           5.13.2 BEN & JERRY’S OFFSET PROVIDES SEED FUNDING FOR MORE SUSTAINABLE AGRICULTURE
                    5.13.2.1 Problem statement: 2021
                    5.13.2.2 Solution
           5.13.3 VOLKSWAGEN’S COMMITMENT TO ACHIEVING CLIMATE TARGETS
                    5.13.3.1 Problem statement: 2021
                    5.13.3.2 Solution
 
6 CARBON OFFSET/CARBON CREDIT MARKET, BY TYPE (Page No. - 77)
    6.1 INTRODUCTION 
           FIGURE 28 MARKET, BY TYPE, 2022
           FIGURE 29 VOLUNTARY MARKET: MARKET, BY TYPE, 2022
           FIGURE 30 COMPLIANCE MARKET: MARKET, BY TYPE, 2022
           TABLE 23 CARBON OFFSET/CARBON CREDIT MARKET, BY TYPE, 2021–2028 (USD BILLION)
           TABLE 24 COMPLIANCE MARKET: MARKET, BY TYPE, 2021–2028 (USD BILLION)
           TABLE 25 VOLUNTARY MARKET: MARKET, BY TYPE, 2021–2028 (USD BILLION)
    6.2 VOLUNTARY MARKET 
           6.2.1 REDUCING TRANSPARENCY ISSUES TO PROPEL DEMAND FOR CARBON OFFSETTING
                    TABLE 26 VOLUNTARY MARKET: MARKET, BY REGION,  2021–2028 (USD BILLION)
                    TABLE 27 VOLUNTARY MARKET: MARKET, BY REGION,  2021–2028 (MILLION TONS)
           6.2.2 FORESTRY AND LAND USE
           6.2.3 RENEWABLE ENERGY
           6.2.4 CHEMICAL PROCESSES/INDUSTRIAL MANUFACTURING
           6.2.5 ENERGY EFFICIENCY/FUEL SWITCHING
           6.2.6 OTHERS
    6.3 COMPLIANCE MARKET 
           6.3.1 INCREASING GOVERNMENT REGULATIONS TO ENCOURAGE MARKET GROWTH
                    TABLE 28 COMPLIANCE MARKET: MARKET, BY REGION,  2021–2028 (USD BILLION)
                    TABLE 29 COMPLIANCE MARKET: MARKET, BY REGION,  2021–2028 (MILLION TONS)
           6.3.2 EU ETS
           6.3.3 CALIFORNIA CAP AND TRADE
           6.3.4 OTHERS
 
7 CARBON OFFSET/CARBON CREDIT MARKET, BY PROJECT TYPE (Page No. - 86)
    7.1 INTRODUCTION 
           FIGURE 31 MARKET, BY PROJECT TYPE, 2022
           TABLE 30 CARBON OFFSET/CARBON CREDITS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
           TABLE 31 REMOVAL/SEQUESTRATION PROJECTS: MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
    7.2 AVOIDANCE/REDUCTION PROJECTS 
           7.2.1 RISING NEED TO PROTECT ECOSYSTEMS AND BIODIVERSITY TO DRIVE MARKET
                    TABLE 32 AVOIDANCE/REDUCTION PROJECTS: MARKET, BY REGION,  2021–2028 (USD BILLION)
    7.3 REMOVAL/SEQUESTRATION PROJECTS 
           7.3.1 GROWING NET ZERO TARGETS TO BOOST MARKET
                    TABLE 33 REMOVAL/SEQUESTRATION PROJECTS: MARKET, BY REGION,  2021–2028 (USD BILLION)
           7.3.2 NATURE-BASED
                    TABLE 34 NATURE-BASED: MARKET, BY REGION, 2021–2028 (USD BILLION)
           7.3.3 TECHNOLOGY-BASED
                    TABLE 35 TECHNOLOGY-BASED: MARKET, BY REGION,  2021–2028 (USD BILLION)
 
8 CARBON OFFSET/CARBON CREDIT MARKET, BY END-USER (Page No. - 91)
    8.1 INTRODUCTION 
           FIGURE 32 MARKET, BY END-USER, 2022
           TABLE 36 CARBON OFFSET/CARBON CREDITS MARKET, BY END-USER, 2021–2028 (USD BILLION)
    8.2 POWER 
           8.2.1 EXECUTION OF DECARBONIZATION INITIATIVES TO TACKLE CLIMATE CHANGE TO BOOST MARKET
                    TABLE 37 POWER: CARBON OFFSET/CARBON CREDIT MARKET, BY REGION, 2021–2028 (USD BILLION)
    8.3 ENERGY 
           8.3.1 COMMITMENT TO NET-ZERO CARBON EMISSIONS BY 2050 TO CREATE OPPORTUNITIES FOR VOLUNTARY CARBON CREDITS
                    TABLE 38 ENERGY: CARBON OFFSET/CARBON CREDIT MARKET, BY REGION, 2021–2028 (USD BILLION)
    8.4 AVIATION 
           8.4.1 IATA’S COMMITMENT TO ACHIEVE NET ZERO EMISSIONS BY 2050 TO ENCOURAGE AIRLINES TO ADOPT CARBON CREDIT TRADING PLATFORM
                    TABLE 39 AVIATION: MARKET, BY REGION, 2021–2028 (USD BILLION)
    8.5 TRANSPORTATION 
           8.5.1 HIGH RATE OF ADOPTION OF CARBON EMISSION REDUCTION STRATEGIES TO DRIVE MARKET
                    TABLE 40 TRANSPORTATION: MARKET, BY REGION, 2021–2028 (USD BILLION)
    8.6 BUILDINGS 
           8.6.1 INCREASING INVESTMENTS IN ENERGY EFFICIENCY TO ACCELERATE MARKET GROWTH
                    TABLE 41 BUILDINGS: MARKET, BY REGION, 2021–2028 (USD BILLION)
    8.7 INDUSTRIAL 
           8.7.1 INCENTIVIZING GLOBAL ACTION OF REDUCING CARBON EMISSIONS TO FUEL MARKET
                    TABLE 42 INDUSTRIAL: MARKET, BY REGION, 2021–2028 (USD BILLION)
    8.8 OTHERS 
           TABLE 43 OTHERS: MARKET, BY REGION, 2021–2028 (USD BILLION)
 
9 CARBON OFFSET/CARBON CREDIT MARKET, BY REGION (Page No. - 99)
    9.1 INTRODUCTION 
           FIGURE 33 ASIA PACIFIC TO WITNESS HIGHEST CAGR IN MARKET DURING FORECAST PERIOD
           FIGURE 34 MARKET, BY REGION, 2022 (%)
           TABLE 44 CARBON OFFSET/CARBON CREDITS MARKET, BY REGION, 2021–2028 (USD BILLION)
           TABLE 45 MARKET, BY REGION, 2021–2028 (MILLION TONS)
    9.2 EUROPE 
           9.2.1 RECESSION IMPACT ON EUROPE
                    FIGURE 35 SNAPSHOT: MARKET IN EUROPE
           9.2.2 BY TYPE
                    TABLE 46 EUROPE: CARBON OFFSET/CARBON CREDIT MARKET, BY TYPE, 2021–2028 (USD BILLION)
                    TABLE 47 EUROPE: MARKET, BY TYPE, 2021–2028 (MILLION TONS)
           9.2.3 BY PROJECT TYPE
                    TABLE 48 EUROPE: MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
                    TABLE 49 EUROPE: MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
           9.2.4 BY END-USER
                    TABLE 50 EUROPE: MARKET, BY END-USER, 2021–2028 (USD BILLION)
           9.2.5 BY COUNTRY
                    TABLE 51 EUROPE: MARKET, BY COUNTRY, 2021–2028 (USD BILLION)
                    9.2.5.1 Germany
                               9.2.5.1.1 Germany’s commitment to ambitious climate protection targets to drive market
                               TABLE 52 GERMANY: MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.2.5.2 UK
                               9.2.5.2.1 UK Emission Trading Scheme to incentivize decarbonization to boost market
                               TABLE 53 UK: MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.2.5.3 France
                               9.2.5.3.1 Carbon farming practices to fuel market
                               TABLE 54 FRANCE: MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.2.5.4 Spain
                               9.2.5.4.1 Emissions from large and complex refining industry to propel market
                               TABLE 55 SPAIN: MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.2.5.5 Rest of Europe
                               TABLE 56 REST OF EUROPE: MARKET, BY END-USER, 2021–2028 (USD BILLION)
    9.3 ASIA PACIFIC 
           9.3.1 RECESSION IMPACT ON ASIA PACIFIC
                    FIGURE 36 SNAPSHOT: MARKET IN ASIA PACIFIC
           9.3.2 BY TYPE
                    TABLE 57 ASIA PACIFIC: CARBON OFFSET/CARBON CREDIT MARKET, BY TYPE, 2021–2028 (USD BILLION)
                    TABLE 58 ASIA PACIFIC: MARKET, BY TYPE, 2021–2028 (MILLION TONS)
           9.3.3 BY PROJECT TYPE
                    TABLE 59 ASIA PACIFIC: MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
                               TABLE 60 ASIA PACIFIC: MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
           9.3.4 BY END-USER
                    TABLE 61 ASIA PACIFIC: MARKET, BY END-USER, 2021–2028 (USD BILLION)
           9.3.5 BY COUNTRY
                    TABLE 62 ASIA PACIFIC: MARKET, BY COUNTRY, 2021–2028 (USD BILLION)
                    9.3.5.1 China
                               9.3.5.1.1 Increasing number of low-carbon strategies to drive market
                               TABLE 63 CHINA: MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.3.5.2 Japan
                               9.3.5.2.1 Growing implementation of various schemes to meet climate goals to fuel market
                               TABLE 64 JAPAN: MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.3.5.3 South Korea
                               9.3.5.3.1 Rising number of free allowances to boost market
                               TABLE 65 SOUTH KOREA: MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.3.5.4 New Zealand
                               9.3.5.4.1 Growing implementation of NZ ETS to aid in lowering greenhouse gas emissions
                               TABLE 66 NEW ZEALAND: MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.3.5.5 Rest of Asia Pacific
                               TABLE 67 REST OF ASIA PACIFIC: MARKET, BY END-USER,  2021–2028 (USD BILLION)
    9.4 NORTH AMERICA 
           9.4.1 RECESSION IMPACT ON NORTH AMERICA
           9.4.2 BY TYPE
                    TABLE 68 NORTH AMERICA: CARBON OFFSET/CARBON CREDIT MARKET, BY TYPE, 2021–2028 (USD BILLION)
                    TABLE 69 NORTH AMERICA: MARKET, BY TYPE, 2021–2028 (MILLION TONS)
           9.4.3 BY PROJECT TYPE
                    TABLE 70 NORTH AMERICA: MARKET, BY PROJECT TYPE,  2021–2028 (USD BILLION)
                    TABLE 71 NORTH AMERICA: MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
           9.4.4 BY END-USER
                    TABLE 72 NORTH AMERICA: MARKET, BY END-USER, 2021–2028 (USD BILLION)
           9.4.5 BY COUNTRY
                    TABLE 73 NORTH AMERICA: MARKET, BY COUNTRY, 2021–2028 (USD BILLION)
                    9.4.5.1 US
                               9.4.5.1.1 Increasing number of net-zero targets to reduce carbon emissions to drive market
                               TABLE 74 US: MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.4.5.2 Canada
                               9.4.5.2.1 Exploring oil and gas industry emissions to boost market
                               TABLE 75 CANADA: MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.4.5.3 Mexico
                               9.4.5.3.1 Incentivizing local communities as well as maintaining forests to boost market
                               TABLE 76 MEXICO: MARKET, BY END-USER, 2021–2028 (USD BILLION)
    9.5 ROW 
           9.5.1 RECESSION IMPACT ON ROW
           9.5.2 BY TYPE
                    TABLE 77 ROW: CARBON OFFSET/CARBON CREDIT MARKET, BY TYPE, 2021–2028 (USD BILLION)
                    TABLE 78 ROW: MARKET, BY TYPE, 2021–2028 (MILLION TONS)
           9.5.3 BY PROJECT TYPE
                    TABLE 79 ROW: MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
                    TABLE 80 ROW: MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
           9.5.4 BY END-USER
                    TABLE 81 ROW: MARKET, BY END-USER, 2021–2028 (USD BILLION)
           9.5.5 BY REGION
                    TABLE 82 ROW: MARKET, BY REGION, 2021–2028 (USD BILLION)
                    9.5.5.1 South America
                               9.5.5.1.1 Rising number of REDD+ projects to drive market
                               TABLE 83 SOUTH AMERICA: CARBON OFFSET/CARBON CREDIT MARKET, BY END-USER, 2021–2028 (USD BILLION)
                    9.5.5.2 Middle East & Africa
                               9.5.5.2.1 Growing net-zero commitments by countries in MEA to boost market
                               TABLE 84 MIDDLE EAST & AFRICA: CARBON OFFSET/CARBON CREDIT MARKET, BY END-USER,  2021–2028 (USD BILLION)
 
10 COMPETITIVE LANDSCAPE (Page No. - 127)
     10.1 STRATEGIES OF KEY PLAYERS 
               TABLE 85 OVERVIEW OF KEY STRATEGIES DEPLOYED BY TOP PLAYERS, AUGUST 2020– DECEMBER 2022
     10.2 COMPANY EVALUATION QUADRANT 
             10.2.1 STARS
             10.2.2 PERVASIVE PLAYERS
             10.2.3 EMERGING LEADERS
             10.2.4 PARTICIPANTS
                       FIGURE 37 COMPETITIVE LEADERSHIP MAPPING: MARKET, 2022
     10.3 START-UP/SME EVALUATION QUADRANT, 2022 
             10.3.1 PROGRESSIVE COMPANIES
             10.3.2 RESPONSIVE COMPANIES
             10.3.3 DYNAMIC COMPANIES
             10.3.4 STARTING BLOCKS
                       FIGURE 38 MARKET: START-UP/SME EVALUATION QUADRANT, 2022
     10.4 COMPETITIVE BENCHMARKING 
               TABLE 86 CARBON OFFSET/CARBON CREDIT MARKET: DETAILED LIST OF KEY STARTUPS/SMES
               TABLE 87 MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS (STARTUPS/SMES)
     10.5 CARBON OFFSET/CARBON CREDIT: COMPANY FOOTPRINT 
               TABLE 88 BY TYPE: COMPANY FOOTPRINT
               TABLE 89 BY PROJECT TYPE: COMPANY FOOTPRINT
               TABLE 90 BY END-USER: COMPANY FOOTPRINT
               TABLE 91 BY REGION: COMPANY FOOTPRINT
               TABLE 92 COMPANY FOOTPRINT
     10.6 COMPETITIVE SCENARIO 
               TABLE 93 CARBON OFFSET/CARBON CREDITS MARKET: DEALS, JANUARY 2023–SEPTEMBER 2020
               TABLE 94 MARKET: LIST OF KEY PLAYERS OPERATING IN MARKET
 
11 COMPANY PROFILES (Page No. - 144)
(Business overview, Products offered, Recent Developments, MNM view)*
     11.1 KEY PLAYERS 
             11.1.1 EKI ENERGY SERVICES LTD.
                       TABLE 95 EKI ENERGY SERVICES LTD.: BUSINESS OVERVIEW
                       FIGURE 39 EKI ENERGY SERVICES LTD.: COMPANY SNAPSHOT (2021)
                       TABLE 96 EKI ENERGY SERVICES LTD.: PROJECTS OFFERED
                       TABLE 97 EKI ENERGY SERVICES LTD.: SERVICES OFFERED
             11.1.2 SOUTH POLE GROUP
                       TABLE 98 SOUTH POLE GROUP: BUSINESS OVERVIEW
                       TABLE 99 SOUTH POLE GROUP: PROJECTS OFFERED
                       TABLE 100 SOUTH POLE: SERVICES OFFERED
                       TABLE 101 SOUTH POLE GROUP: DEALS
             11.1.3 3DEGREES
                       TABLE 102 3DEGREES: BUSINESS OVERVIEW
                       TABLE 103 3DEGREES: PROJECTS OFFERED
                       TABLE 104 3DEGREES: SOLUTIONS OFFERED
                       TABLE 105 3DEGREES: DEALS
             11.1.4 FINITE CARBON
                       TABLE 106 FINITE CARBON: BUSINESS OVERVIEW
                       TABLE 107 FINITE CARBON: PROJECTS OFFERED
                       TABLE 108 FINITE CARBON: LAUNCHES
                       TABLE 109 FINITE CARBON: DEALS
             11.1.5 NATIVE ENERGY
                       TABLE 110 NATIVE ENERGY: BUSINESS OVERVIEW
                       TABLE 111 NATIVE ENERGY: PROJECTS OFFERED
                       TABLE 112 NATIVE ENERGY: SOLUTIONS OFFERED
             11.1.6 CLIMECO LLC
                       TABLE 113 CLIMECO LLC: BUSINESS OVERVIEW
                       TABLE 114 CLIMECO LLC: SOLUTIONS OFFERED
                       TABLE 115 CLIMECO LLC: DEALS
             11.1.7 CARBONBETTER
                       TABLE 116 CARBONBETTER: BUSINESS OVERVIEW
                       TABLE 117 CARBONBETTER: PROJECTS OFFERED
                       TABLE 118 CARBONBETTER: SERVICES OFFERED
             11.1.8 TASMAN ENVIRONMENTAL MARKETS
                       TABLE 119 TASMAN ENVIRONMENTAL MARKETS: BUSINESS OVERVIEW
                       TABLE 120 TASMAN ENVIRONMENTAL MARKETS: PROJECTS OFFERED
                       TABLE 121 TASMAN ENVIRONMENTAL MARKETS: SOLUTIONS/SERVICES OFFERED
                       TABLE 122 TASMAN ENVIRONMENTAL MARKETS: DEALS
             11.1.9 CARBON CARE ASIA LIMITED
                       TABLE 123 CARBON CARE ASIA LIMITED: BUSINESS OVERVIEW
                       TABLE 124 CARBON CARE ASIA LIMITED: PROJECTS OFFERED
             11.1.10 MOSS.EARTH
                       TABLE 125 MOSS.EARTH: BUSINESS OVERVIEW
                       TABLE 126 MOSS.EARTH: PROJECTS OFFERED
                       TABLE 127 MOSS.EARTH: SOLUTIONS/SERVICES OFFERED
                       TABLE 128 MOSS.EARTH: DEALS
             11.1.11 CLIMETREK LTD.
                       TABLE 129 CLIMETREK: BUSINESS OVERVIEW
                       TABLE 130 CLIMETREK: PROJECTS OFFERED
                       TABLE 131 CLIMETREK: SERVICES OFFERED
             11.1.12 CLIMATEPARTNER GMBH
                       TABLE 132 CLIMATEPARTNER GMBH: BUSINESS OVERVIEW
                       TABLE 133 CLIMATEPARTNER GMBH: PROJECTS OFFERED
                       TABLE 134 CLIMATE PARTNER GMBH: SOLUTIONS/SERVICES OFFERED
             11.1.13 TERRAPASS
                       TABLE 135 TERRAPASS: BUSINESS OVERVIEW
                       TABLE 136 TERRAPASS: PROJECTS OFFERED
                       TABLE 137 TERRAPASS: SERVICES OFFERED
             11.1.14 CLIMATE IMPACT PARTNERS
                       TABLE 138 CLIMATE IMPACT PARTNERS: BUSINESS OVERVIEW
                       TABLE 139 CLIMATE IMPACT PARTNERS: PROJECTS OFFERED
                       TABLE 140 CLIMATE IMPACT PARTNERS: SOLUTIONS/SERVICES OFFERED
                       TABLE 141 CLIMATE IMPACT PARTNERS: DEALS
             11.1.15 CARBON CREDIT CAPITAL
                       TABLE 142 CARBON CREDIT CAPITAL: BUSINESS OVERVIEW
                       TABLE 143 CARBON CREDIT CAPITAL: PROJECTS OFFERED
                       TABLE 144 CARBON CREDIT CAPITAL: SOLUTIONS/SERVICES OFFERED
                       TABLE 145 CARBON CREDIT CAPITAL: DEALS
             11.1.16 BLUESOURCE LLC
             11.1.17 CARBONFUND
             11.1.18 FOREST CARBON
             11.1.19 CLIMATE TRADE
             11.1.20 NATUREOFFICE GMBH
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
 
12 APPENDIX (Page No. - 184)
     12.1 INSIGHTS FROM INDUSTRY EXPERTS 
     12.2 DISCUSSION GUIDE 
     12.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     12.4 CUSTOMIZATION OPTIONS 
     12.5 RELATED REPORTS 
     12.6 AUTHOR DETAILS 

The study involved major activities in estimating the current size of the carbon offset/carbon credit market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

This research study on the carbon offset/carbon credits market involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, International Energy Agency, and BP Statistical Review of World Energy, to identify and collect information useful for a technical, market-oriented, and commercial study of the carbon offset market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The carbon offset/carbon credit market comprises several stakeholders such as offset producers, project developers/third-party organizations, brokers/exchange partners, end users/carbon emitters in the supply chain. The demand side of this market is characterized by the rising demand for reducing and removing carbon from the atmosphere. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:

Carbon Offset/Carbon Credit Market  Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the carbon offset/carbon credits market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
  • The industry’s value chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Carbon Offset/Carbon Credit Market Size: Tow-Down Approach

Carbon Offset/Carbon Credit Market  Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, the data triangulation and market breakdown processes have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand- and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Market Defenition

Carbon offset are tradeable credits that allow companies and countries to compensate hard-to-abate emissions by investing in projects, which avoid or remove emissions from the atmosphere elsewhere. There are two varieties of carbon projects such as carbon removal and carbon avoidance projects, either of which can generate credits an organization can purchase to offset their emissions.

Key Stakeholders

  • Government and research organizations
  • Energy service providers (private/government)
  • Utility platform and analytics vendors
  • System design and development vendors
  • System integrators/migration service providers
  • Consultants/consultancies/advisory firms
  • Environmental research institutes
  • Private or investor-owned utilities
  • Government and research organizations
  • State and national regulatory authorities
  • Investors/shareholders
  • Investment banks

Objectives of the Study

  • To define, describe, and forecast the carbon offset/carbon credit market, by type, project type, and end-user, in terms of value and volume
  • To describe and forecast the market size for four key regions: North America, Europe, Asia Pacific, and RoW, along with country-level market analysis
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the market growth
  • To describe the market value chain and several government regulations contributing to the growth of market
  • To strategically analyze the subsegments with respect to individual growth trends, prospects, and contributions of each segment to the overall market size
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders
  • To strategically profile the key players and comprehensively analyze their market share and core competencies
  • To analyze competitive developments such as agreements, product launches, partnerships, collaborations, and acquisitions in the market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Product Analysis

  • Product Matrix, which provides a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analyses and profiling of additional market players
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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