(MENAFN- GlobeNewsWire - Nasdaq) Carbon credit trading platform market size from USD 123.0 million in 2023 to USD 998.9 million in 10 years. Increasing interest of investors in carbon trading will drive the market's growth. Europe emerged as the largest global carbon credit trading platform market, with a 39.8% market revenue share in 2023.Newark, April 16, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 123.0 million carbon credit trading platform market will reach USD 998.9 million by 2033. Carbon credit trading platforms are vital in the global effort to combat climate change and advance sustainable practices. These online marketplaces enable the exchange of carbon credits, representing a unit of carbon dioxide (or comparable greenhouse gas) that a person or organisation has reduced or eliminated from the environment. Companies and organisations can offset their carbon emissions, support sustainable projects, and contribute to reducing greenhouse fuel emissions by exchanging carbon credits. Technological advancements are a major factor in the market expansion of carbon credit trading platforms.
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The tracking and trading of carbon credits has undergone a radical change because of the introduction of blockchain technology. Building trust and credibility in the market requires carbon credits to be transparent, secure, and traceable, all of which blockchain technology ensures. Furthermore, governments and global accords like the Paris Agreement have also contributed to expanding the carbon credit trading industry. Governments committed to achieving certain emission reduction goals frequently establish national or local cap-and-trade schemes, generating demand for carbon credits exchanged on online marketplaces. Furthermore, global collaboration and support for carbon discount programmes in developing countries have expanded market reach and impacted zero carbon emission ambitions.
Report Scope and Segmentation -
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 23.3% |
| 2033 Value Projection | USD 998.9 Million |
| Market Size in 2023 | USD 123.0 Million |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | by Type, System Type, End-User, Regions |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Carbon Credit Trading Platform Market Growth Drivers | Corporate sustainability initiatives |
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Key Insights on Carbon Credit Trading Platform Market
Europe will account for the largest market size during the forecast period.
The European Union Emissions Trading System (EU ETS) has imposed stringent environmental laws in Europe, driving demand for carbon credits and trading platforms. Furthermore, businesses aggressively search for carbon credits to offset their emissions because European nations have set high goals for carbon neutrality.
The voluntary segment dominated the market with the most significant revenue of USD 72.57 million.
The voluntary segment dominated the market with the most significant revenue of USD 72.57 million. The voluntary carbon market, in which players voluntarily offset their carbon emissions above and above legally necessary levels, is the voluntary component of the carbon credit trading platform market. Companies voluntarily purchased carbon credits to meet sustainability goals and enhance their green image.
The cap and trade segment dominated the market with the most significant revenue of USD 68.88 million.
The cap and trade segment dominated the market with the most significant revenue of USD 68.88 million. In the cap and trade segment of the carbon credit trading platform market, businesses are granted tradable permits, with the overall quantity of emissions allowed being capped. Companies that use more credits than they are allowed to must purchase them; those who have extra can sell them.
The utilities segment dominated the market with the most significant revenue of USD 30.75 million.
The utilities segment dominated the market with the most significant revenue of USD 30.75 million. Utilities increasingly use credit trading systems to engage in sustainable projects like renewable energy schemes and acquire carbon credits to reduce their environmental impact and turn carbon neutral. This pattern supports the carbon credit trading platform market while assisting utilities in meeting their emission reduction targets.
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Market Dynamics:
Drivers: Increasing interest from investors
The market for carbon credit trading platforms is expanding due to investors' growing interest in ecologically friendly and sustainable initiatives. With increased emphasis on environmentally conscious investments, investors increasingly seek opportunities to fund carbon-crediting initiatives.
Restraint: Fluctuating prices of raw material
Businesses may be discouraged from actively participating in the carbon credit trading platform market because of the volatility of carbon prices. Companies may be reluctant to participate in carbon credit projects due to concerns about their financial viability, as the volatility of carbon prices may impact the projects' potential profits. Widespread adoption is hampered by this volatility, which makes it more difficult for the market to draw steady demand from companies looking to use credit trading to offset their carbon emissions.
Opportunity: Technological advancement
Technological developments, such as using blockchain technology and other technologies, are improving the efficiency and transparency of trading carbon credits. Blockchain technology guarantees carbon credits' legitimacy and traceability, mitigating fraud and double-counting issues. The market is becoming more active, and transactions are becoming more seamless owing to these technological advancements.
Some of the major players operating in the carbon credit trading platform market are:
● CarbonX
● CBL Markets
● APX, Inc.
● Redshaw Advisors
● ClearBlue Markets
● South Pole
● AirCarbon Exchange (ACX)
● Markit (now IHS Markit)
● Climex
● Karbone
● EEX Group
● Bluesource
● ClimateCare
Key Segments cover in the market:
By Type:
● Compliance
● Voluntary
By System Type:
● Baseline and Credit
● Cap and Trade
By End-User:
● Utilities
● Petrochemical
● Industrial
● Energy
● Aviation
● Others
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About the report:
The global carbon credit trading platform market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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