Global Carbon Offset/Carbon Credit Trading Service Market |
Posted: October 17, 2021 |
The global carbon offset/carbon credit trading service market was valued at USD 210.8 Million in 2019 and is projected to reach USD 841.0 Million by 2027, expanding at a CAGR of over 19.9% during the forecast period. A carbon offset is a calculable avoidance, sequestration or lessening of carbon dioxide (CO2), and other Green House Gas (GHG) releases. Carbon offsets are defined as project-based as they normally comprise specific projects or events that decrease or evade or appropriate emissions. Investments in carbon-offset projects, individuals can fund GHG-reduction processes applied by individuals to decrease their carbon tax legal responsibility, which costs lesser than what could be accomplished through investment in a company's operations. Carbon offset/carbon credits are marketplace structures for the reduction of greenhouse gases emission. The greenhouse gas emissions limits are set by governments or regulatory agencies. Some companies cannot achieve an immediate reduction in emissions economically. Consequently, the companies can buy carbon credits to comply with the emission cap. Companies with carbon offsets (greenhouse gas (GHG) emissions reductions) are generally rewarded with additional carbon credits. The selling of credit surpluses can be used to subsidize potential pollution reduction programs.
Segmental OutlookOn the basis of types, the carbon offset/carbon credit trading service market has been segmented into industrial, household, energy industry, and others. Industrial gases cause high amounts of global warming. The reduction of these gases is a very effective way to decrease greenhouse gases (GHG). Industrial gas offset projects are low-cost to conduct and produce large numbers of offsets; however, industries are reluctant to adopt the low-carbon economy. In terms of application, the market has been divided into renewable energy, REDD carbon offset, landfill methane projects, and others. Reducing Emissions from Deforestation and Forest Degradation (REDD) is a concept that has developed in the UN climate conferences as a way to reduce large-scale forest loss and allied CO2 emissions. Renewable Energy Certificates (RECs) and carbon offsets are both environmental supplies that can be used to address GHG emissions. Regional OutlookIn terms of regions, the global carbon offset/carbon credit trading service market has been fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe constituted significant share of the market in 2020. The market in Asia Pacific is projected to expand at a considerable CAGR during the forecast period. Competitive LandscapeThe global carbon offset/carbon credit trading service market is dominated by key players such as Carbon Credit Capital, Terrapass, Schneider Electric, 3Degrees, NativeEnergy, GreenTrees, South Pole Group, Aera Group, Allcot Group, Carbon Clear, Forest Carbon, Bioassets, Biofílica WayCarbon, CBEEX, and Guangzhou Greenstone.
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