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
The global carbon offset/carbon credit market is estimated to grow from USD 414.8 Billion in 2023 to USD 1,602.7 Billion by 2028; it is expected to record a CAGR of 31.0% during the forecast period. Increasing investments in carbon capture technologies and solutions along with the rise in projects that are helping communities and creating social impact, is expected to drive the market.
“EU ETS: The largest segment of the carbon offset/carbon credit compliance market, by type “
Based on type, the carbon offset/carbon credit market has been categorized into the voluntary market and the compliance market. The compliance market, on the other hand, has been sub segmented into EU ETS (Emission Trading Scheme), California Cap and Trade, and others. The EU ETS is a cap-and-trade system i.e., organizations are only allowed to emit a certain amount of emissions, and they can trade allowances (EUAs), the ETS equivalent to carbon credits, with each other.
“Avoidance/Removal projects segment is expected to emerge as the largest segment based on project type”
Avoidance offset are generated from activities that reduce emissions by preventing their release into the atmosphere. Carbon avoidance via direct carbon reduction measures directly reduce carbon footprint. Carbon avoidance via carbon offsets and direct carbon reduction measures improves air quality, protects ecosystems, and aids in climate change mitigation. The effectiveness of carbon avoidance depends on the type of project and reliability to execute. Carbon avoidance via direct carbon reduction measures is effective because it cuts emissions at their source.
“By End-User, the Transportation segment is expected to be the fastest growing market during the forecast period.”
Based on end-user, the transportation segment is expected to be the fastest-growing segment during the forecast period. Reducing transport emissions is a priority for some of the governments worldwide. Motor vehicles accounted for a tremendously large share in the CO2 emissions from transportation. Personal vehicles and commercial trucks averaged more CO2 emissions per passenger mile or ton-mile than most other modes of transportation. Hence, the market is expected to grow significantly during the forecast period.
Europe is expected to be the second fastest-growing region in the carbon offset/carbon credit market
Europe is expected to be the second fastest region in the carbon offset/carbon credit market during the forecast period. The market growth in Europe can be attributed to the rising focus on decarbonization with the increased investments in green technologies in the region. Also, pledges such as carbon-free-world in countries such as Norway, Iceland, Ireland, Switzerland, Sweden, and Denmark act as a driving force for the European carbon offset/carbon credit market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The carbon offset/carbon credit market is dominated by a few major players that have a wide regional presence. The leading players in the carbon offset/carbon credit market are South Pole Group (Switzerland), 3Degrees (US), Finite Carbon (US), EKI Energy Services Ltd. (India), and NativeEnergy (US).
Research Coverage:
The report defines, describes, and forecasts the global carbon offset/carbon credit market, by type, project type, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the carbon offset/carbon credit market.
Key Benefits of Buying the Report
“EU ETS: The largest segment of the carbon offset/carbon credit compliance market, by type “
Based on type, the carbon offset/carbon credit market has been categorized into the voluntary market and the compliance market. The compliance market, on the other hand, has been sub segmented into EU ETS (Emission Trading Scheme), California Cap and Trade, and others. The EU ETS is a cap-and-trade system i.e., organizations are only allowed to emit a certain amount of emissions, and they can trade allowances (EUAs), the ETS equivalent to carbon credits, with each other.
“Avoidance/Removal projects segment is expected to emerge as the largest segment based on project type”
Avoidance offset are generated from activities that reduce emissions by preventing their release into the atmosphere. Carbon avoidance via direct carbon reduction measures directly reduce carbon footprint. Carbon avoidance via carbon offsets and direct carbon reduction measures improves air quality, protects ecosystems, and aids in climate change mitigation. The effectiveness of carbon avoidance depends on the type of project and reliability to execute. Carbon avoidance via direct carbon reduction measures is effective because it cuts emissions at their source.
“By End-User, the Transportation segment is expected to be the fastest growing market during the forecast period.”
Based on end-user, the transportation segment is expected to be the fastest-growing segment during the forecast period. Reducing transport emissions is a priority for some of the governments worldwide. Motor vehicles accounted for a tremendously large share in the CO2 emissions from transportation. Personal vehicles and commercial trucks averaged more CO2 emissions per passenger mile or ton-mile than most other modes of transportation. Hence, the market is expected to grow significantly during the forecast period.
Europe is expected to be the second fastest-growing region in the carbon offset/carbon credit market
Europe is expected to be the second fastest region in the carbon offset/carbon credit market during the forecast period. The market growth in Europe can be attributed to the rising focus on decarbonization with the increased investments in green technologies in the region. Also, pledges such as carbon-free-world in countries such as Norway, Iceland, Ireland, Switzerland, Sweden, and Denmark act as a driving force for the European carbon offset/carbon credit market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 40%, Tier 2- 35%, and Tier 3- 25%
- By Designation: C-Level- 35%, Director Levels- 25%, and Others- 40%
- By Region: North America- 10%, Asia Pacific- 60%, Europe- 15%, RoW- 15%
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The carbon offset/carbon credit market is dominated by a few major players that have a wide regional presence. The leading players in the carbon offset/carbon credit market are South Pole Group (Switzerland), 3Degrees (US), Finite Carbon (US), EKI Energy Services Ltd. (India), and NativeEnergy (US).
Research Coverage:
The report defines, describes, and forecasts the global carbon offset/carbon credit market, by type, project type, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the carbon offset/carbon credit market.
Key Benefits of Buying the Report
- High rate of adoption of carbon emission reduction strategies and execution of decarbonization initiatives to tackle climate change is a major driver for the carbon offset/carbon credit market.
- Product Development/ Innovation: New projects have been developed and the companies can now invest in a bundle of different projects apart from single projects as these projects help generate multiple climate, social, and biodiversity benefits.
- Market Development: The demand for quality carbon offset is high throughout due to the strong willingness of businesses to act on climate change and reduce their carbon emission to achieve the net zero targets. Project developers create and monetize carbon credits from a variety of activities, mostly nature based solutions such as forest conservation and afforestation. There is growing interest in offset credits generated from removal technologies such as direct air capture (DAC), carbon capture and storage (CCS), and bioenergy with carbon capture and storage (BECCS).
- Market Diversification: South Pole Group developed solutions to bring climate action which means to reduce the greenhouse emission of every business. The companies are working towards calculation, compensation, and understanding the reduction of carbon footprint.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like South Pole Group (Switzerland), 3Degrees (US), Finite Carbon (US), EKI Energy Services Ltd. (India), and NativeEnergy (US) among others in the carbon offset/carbon credit market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
TABLE 1 CARBON OFFSETS MARKET, BY TYPE: INCLUSIONS AND EXCLUSIONS
TABLE 2 CARBON OFFSETS MARKET, BY PROJECT TYPE: INCLUSIONS AND EXCLUSIONS
TABLE 3 CARBON OFFSETS MARKET, BY END-USER: INCLUSIONS AND EXCLUSIONS
TABLE 4 CARBON OFFSETS MARKET, BY REGION: INCLUSIONS AND EXCLUSIONS
1.4 STUDY SCOPE
1.4.1 CARBON OFFSETS 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
2.1 RESEARCH DATA
FIGURE 1 CARBON OFFSETS 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
TABLE 5 CARBON OFFSETS MARKET SNAPSHOT
FIGURE 7 EUROPE DOMINATED CARBON OFFSETS MARKET, IN TERMS OF SHARE, IN 2022
FIGURE 8 COMPLIANCE MARKET TO HOLD LARGER SHARE OF CARBON OFFSETS 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 OFFSETS MARKET, BY END-USER, THROUGHOUT FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN CARBON OFFSETS MARKET
FIGURE 11 INCREASING FOCUS ON NET-ZERO TARGETS TO DRIVE MARKET FOR CARBON OFFSETS BETWEEN 2023 AND 2028
4.2 CARBON OFFSETS MARKET, BY REGION
FIGURE 12 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN CARBON OFFSETS MARKET DURING FORECAST PERIOD
4.3 EUROPE: CARBON OFFSETS MARKET, BY TYPE AND COUNTRY, 2022
FIGURE 13 COMPLIANCE MARKET AND GERMANY TO BE LARGEST SHAREHOLDERS IN EUROPEAN MARKET IN 2022
4.4 CARBON OFFSETS MARKET, BY TYPE
FIGURE 14 COMPLIANCE MARKET TO ACCOUNT FOR LARGER SHARE IN CARBON OFFSETS MARKET IN 2028
4.5 CARBON OFFSETS MARKET, BY PROJECT TYPE
FIGURE 15 AVOIDANCE/REDUCTION PROJECTS TO ACCOUNT FOR LARGER MARKET SHARE THAN REMOVAL/SEQUESTRATION PROJECTS IN 2028
4.6 CARBON OFFSETS MARKET, BY END-USER
FIGURE 16 POWER SEGMENT TO DOMINATE CARBON OFFSETS MARKET, BY END-USER, IN 2028
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 17 MARKET DYNAMICS FOR CARBON OFFSETS 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 OFFSETS MARKET
TABLE 9 CARBON OFFSETS MARKET: ROLE OF COMPANIES IN ECOSYSTEM
5.6 VALUE CHAIN ANALYSIS
FIGURE 23 CARBON OFFSETS 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 CARBON OFFSETS 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 CARBON OFFSETS MARKET
TABLE 17 CARBON OFFSETS MARKET: CODES AND REGULATIONS
5.8.3 STANDARDS RELATED TO CARBON OFFSETS
TABLE 18 CARBON OFFSETS MARKET: STANDARDS
5.9 INNOVATIONS AND PATENT REGISTRATIONS
TABLE 19 CARBON OFFSETS MARKET: INNOVATIONS AND PATENT REGISTRATIONS, JANUARY 2020–DECEMBER 2021
5.10 PORTER’S FIVE FORCES ANALYSIS
FIGURE 25 CARBON OFFSETS MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 20 CARBON OFFSETS 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 OFFSETS MARKET, BY TYPE
6.1 INTRODUCTION
FIGURE 28 CARBON OFFSETS MARKET, BY TYPE, 2022
FIGURE 29 VOLUNTARY MARKET: CARBON OFFSETS MARKET, BY TYPE, 2022
FIGURE 30 COMPLIANCE MARKET: CARBON OFFSETS MARKET, BY TYPE, 2022
TABLE 23 CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 24 COMPLIANCE MARKET: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 25 VOLUNTARY MARKET: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
TABLE 27 VOLUNTARY MARKET: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
TABLE 29 COMPLIANCE MARKET: CARBON OFFSETS 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 OFFSETS MARKET, BY PROJECT TYPE
7.1 INTRODUCTION
FIGURE 31 CARBON OFFSETS MARKET, BY PROJECT TYPE, 2022
TABLE 30 CARBON OFFSETS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
TABLE 31 REMOVAL/SEQUESTRATION PROJECTS: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
7.3.2 NATURE-BASED
TABLE 34 NATURE-BASED: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
7.3.3 TECHNOLOGY-BASED
TABLE 35 TECHNOLOGY-BASED: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
8 CARBON OFFSETS MARKET, BY END-USER
8.1 INTRODUCTION
FIGURE 32 CARBON OFFSETS MARKET, BY END-USER, 2022
TABLE 36 CARBON OFFSETS 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 OFFSETS 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 OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
8.8 OTHERS
TABLE 43 OTHERS: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
9 CARBON OFFSETS MARKET, BY REGION
9.1 INTRODUCTION
FIGURE 33 ASIA PACIFIC TO WITNESS HIGHEST CAGR IN CARBON OFFSETS MARKET DURING FORECAST PERIOD
FIGURE 34 CARBON OFFSETS MARKET, BY REGION, 2022 (%)
TABLE 44 CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
TABLE 45 CARBON OFFSETS MARKET, BY REGION, 2021–2028 (MILLION TONS)
9.2 EUROPE
9.2.1 RECESSION IMPACT ON EUROPE
FIGURE 35 SNAPSHOT: CARBON OFFSETS MARKET IN EUROPE
9.2.2 BY TYPE
TABLE 46 EUROPE: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 47 EUROPE: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (MILLION TONS)
9.2.3 BY PROJECT TYPE
TABLE 48 EUROPE: CARBON OFFSETS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
TABLE 49 EUROPE: CARBON OFFSETS MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
9.2.4 BY END-USER
TABLE 50 EUROPE: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.2.5 BY COUNTRY
TABLE 51 EUROPE: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.2.5.5 Rest of Europe
TABLE 56 REST OF EUROPE: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.3 ASIA PACIFIC
9.3.1 RECESSION IMPACT ON ASIA PACIFIC
FIGURE 36 SNAPSHOT: CARBON OFFSETS MARKET IN ASIA PACIFIC
9.3.2 BY TYPE
TABLE 57 ASIA PACIFIC: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 58 ASIA PACIFIC: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (MILLION TONS)
9.3.3 BY PROJECT TYPE
TABLE 59 ASIA PACIFIC: CARBON OFFSETS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
TABLE 60 ASIA PACIFIC: CARBON OFFSETS MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
9.3.4 BY END-USER
TABLE 61 ASIA PACIFIC: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.3.5 BY COUNTRY
TABLE 62 ASIA PACIFIC: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.3.5.5 Rest of Asia Pacific
TABLE 67 REST OF ASIA PACIFIC: CARBON OFFSETS 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 OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 69 NORTH AMERICA: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (MILLION TONS)
9.4.3 BY PROJECT TYPE
TABLE 70 NORTH AMERICA: CARBON OFFSETS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
TABLE 71 NORTH AMERICA: CARBON OFFSETS MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
9.4.4 BY END-USER
TABLE 72 NORTH AMERICA: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.4.5 BY COUNTRY
TABLE 73 NORTH AMERICA: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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 OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 78 ROW: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (MILLION TONS)
9.5.3 BY PROJECT TYPE
TABLE 79 ROW: CARBON OFFSETS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
TABLE 80 ROW: CARBON OFFSETS MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
9.5.4 BY END-USER
TABLE 81 ROW: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.5.5 BY REGION
TABLE 82 ROW: CARBON OFFSETS 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 OFFSETS 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 OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
10 COMPETITIVE LANDSCAPE
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: CARBON OFFSETS 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 CARBON OFFSETS MARKET: START-UP/SME EVALUATION QUADRANT, 2022
10.4 COMPETITIVE BENCHMARKING
TABLE 86 CARBON OFFSETS MARKET: DETAILED LIST OF KEY STARTUPS/SMES
TABLE 87 CARBON OFFSETS MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS (STARTUPS/SMES)
10.5 CARBON OFFSETS: 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 OFFSETS MARKET: DEALS, JANUARY 2023–SEPTEMBER 2020
TABLE 94 CARBON OFFSETS MARKET: LIST OF KEY PLAYERS OPERATING IN MARKET
11 COMPANY PROFILES
(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
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
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
TABLE 1 CARBON OFFSETS MARKET, BY TYPE: INCLUSIONS AND EXCLUSIONS
TABLE 2 CARBON OFFSETS MARKET, BY PROJECT TYPE: INCLUSIONS AND EXCLUSIONS
TABLE 3 CARBON OFFSETS MARKET, BY END-USER: INCLUSIONS AND EXCLUSIONS
TABLE 4 CARBON OFFSETS MARKET, BY REGION: INCLUSIONS AND EXCLUSIONS
1.4 STUDY SCOPE
1.4.1 CARBON OFFSETS 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
2.1 RESEARCH DATA
FIGURE 1 CARBON OFFSETS 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
TABLE 5 CARBON OFFSETS MARKET SNAPSHOT
FIGURE 7 EUROPE DOMINATED CARBON OFFSETS MARKET, IN TERMS OF SHARE, IN 2022
FIGURE 8 COMPLIANCE MARKET TO HOLD LARGER SHARE OF CARBON OFFSETS 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 OFFSETS MARKET, BY END-USER, THROUGHOUT FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN CARBON OFFSETS MARKET
FIGURE 11 INCREASING FOCUS ON NET-ZERO TARGETS TO DRIVE MARKET FOR CARBON OFFSETS BETWEEN 2023 AND 2028
4.2 CARBON OFFSETS MARKET, BY REGION
FIGURE 12 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN CARBON OFFSETS MARKET DURING FORECAST PERIOD
4.3 EUROPE: CARBON OFFSETS MARKET, BY TYPE AND COUNTRY, 2022
FIGURE 13 COMPLIANCE MARKET AND GERMANY TO BE LARGEST SHAREHOLDERS IN EUROPEAN MARKET IN 2022
4.4 CARBON OFFSETS MARKET, BY TYPE
FIGURE 14 COMPLIANCE MARKET TO ACCOUNT FOR LARGER SHARE IN CARBON OFFSETS MARKET IN 2028
4.5 CARBON OFFSETS MARKET, BY PROJECT TYPE
FIGURE 15 AVOIDANCE/REDUCTION PROJECTS TO ACCOUNT FOR LARGER MARKET SHARE THAN REMOVAL/SEQUESTRATION PROJECTS IN 2028
4.6 CARBON OFFSETS MARKET, BY END-USER
FIGURE 16 POWER SEGMENT TO DOMINATE CARBON OFFSETS MARKET, BY END-USER, IN 2028
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 17 MARKET DYNAMICS FOR CARBON OFFSETS 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 OFFSETS MARKET
TABLE 9 CARBON OFFSETS MARKET: ROLE OF COMPANIES IN ECOSYSTEM
5.6 VALUE CHAIN ANALYSIS
FIGURE 23 CARBON OFFSETS 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 CARBON OFFSETS 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 CARBON OFFSETS MARKET
TABLE 17 CARBON OFFSETS MARKET: CODES AND REGULATIONS
5.8.3 STANDARDS RELATED TO CARBON OFFSETS
TABLE 18 CARBON OFFSETS MARKET: STANDARDS
5.9 INNOVATIONS AND PATENT REGISTRATIONS
TABLE 19 CARBON OFFSETS MARKET: INNOVATIONS AND PATENT REGISTRATIONS, JANUARY 2020–DECEMBER 2021
5.10 PORTER’S FIVE FORCES ANALYSIS
FIGURE 25 CARBON OFFSETS MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 20 CARBON OFFSETS 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 OFFSETS MARKET, BY TYPE
6.1 INTRODUCTION
FIGURE 28 CARBON OFFSETS MARKET, BY TYPE, 2022
FIGURE 29 VOLUNTARY MARKET: CARBON OFFSETS MARKET, BY TYPE, 2022
FIGURE 30 COMPLIANCE MARKET: CARBON OFFSETS MARKET, BY TYPE, 2022
TABLE 23 CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 24 COMPLIANCE MARKET: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 25 VOLUNTARY MARKET: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
TABLE 27 VOLUNTARY MARKET: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
TABLE 29 COMPLIANCE MARKET: CARBON OFFSETS 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 OFFSETS MARKET, BY PROJECT TYPE
7.1 INTRODUCTION
FIGURE 31 CARBON OFFSETS MARKET, BY PROJECT TYPE, 2022
TABLE 30 CARBON OFFSETS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
TABLE 31 REMOVAL/SEQUESTRATION PROJECTS: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
7.3.2 NATURE-BASED
TABLE 34 NATURE-BASED: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
7.3.3 TECHNOLOGY-BASED
TABLE 35 TECHNOLOGY-BASED: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
8 CARBON OFFSETS MARKET, BY END-USER
8.1 INTRODUCTION
FIGURE 32 CARBON OFFSETS MARKET, BY END-USER, 2022
TABLE 36 CARBON OFFSETS 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 OFFSETS 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 OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
8.8 OTHERS
TABLE 43 OTHERS: CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
9 CARBON OFFSETS MARKET, BY REGION
9.1 INTRODUCTION
FIGURE 33 ASIA PACIFIC TO WITNESS HIGHEST CAGR IN CARBON OFFSETS MARKET DURING FORECAST PERIOD
FIGURE 34 CARBON OFFSETS MARKET, BY REGION, 2022 (%)
TABLE 44 CARBON OFFSETS MARKET, BY REGION, 2021–2028 (USD BILLION)
TABLE 45 CARBON OFFSETS MARKET, BY REGION, 2021–2028 (MILLION TONS)
9.2 EUROPE
9.2.1 RECESSION IMPACT ON EUROPE
FIGURE 35 SNAPSHOT: CARBON OFFSETS MARKET IN EUROPE
9.2.2 BY TYPE
TABLE 46 EUROPE: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 47 EUROPE: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (MILLION TONS)
9.2.3 BY PROJECT TYPE
TABLE 48 EUROPE: CARBON OFFSETS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
TABLE 49 EUROPE: CARBON OFFSETS MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
9.2.4 BY END-USER
TABLE 50 EUROPE: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.2.5 BY COUNTRY
TABLE 51 EUROPE: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.2.5.5 Rest of Europe
TABLE 56 REST OF EUROPE: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.3 ASIA PACIFIC
9.3.1 RECESSION IMPACT ON ASIA PACIFIC
FIGURE 36 SNAPSHOT: CARBON OFFSETS MARKET IN ASIA PACIFIC
9.3.2 BY TYPE
TABLE 57 ASIA PACIFIC: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 58 ASIA PACIFIC: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (MILLION TONS)
9.3.3 BY PROJECT TYPE
TABLE 59 ASIA PACIFIC: CARBON OFFSETS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
TABLE 60 ASIA PACIFIC: CARBON OFFSETS MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
9.3.4 BY END-USER
TABLE 61 ASIA PACIFIC: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.3.5 BY COUNTRY
TABLE 62 ASIA PACIFIC: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.3.5.5 Rest of Asia Pacific
TABLE 67 REST OF ASIA PACIFIC: CARBON OFFSETS 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 OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 69 NORTH AMERICA: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (MILLION TONS)
9.4.3 BY PROJECT TYPE
TABLE 70 NORTH AMERICA: CARBON OFFSETS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
TABLE 71 NORTH AMERICA: CARBON OFFSETS MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
9.4.4 BY END-USER
TABLE 72 NORTH AMERICA: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.4.5 BY COUNTRY
TABLE 73 NORTH AMERICA: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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: CARBON OFFSETS 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 OFFSETS MARKET, BY TYPE, 2021–2028 (USD BILLION)
TABLE 78 ROW: CARBON OFFSETS MARKET, BY TYPE, 2021–2028 (MILLION TONS)
9.5.3 BY PROJECT TYPE
TABLE 79 ROW: CARBON OFFSETS MARKET, BY PROJECT TYPE, 2021–2028 (USD BILLION)
TABLE 80 ROW: CARBON OFFSETS MARKET, BY REMOVAL/SEQUESTRATION PROJECT TYPE, 2021–2028 (USD BILLION)
9.5.4 BY END-USER
TABLE 81 ROW: CARBON OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
9.5.5 BY REGION
TABLE 82 ROW: CARBON OFFSETS 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 OFFSETS 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 OFFSETS MARKET, BY END-USER, 2021–2028 (USD BILLION)
10 COMPETITIVE LANDSCAPE
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: CARBON OFFSETS 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 CARBON OFFSETS MARKET: START-UP/SME EVALUATION QUADRANT, 2022
10.4 COMPETITIVE BENCHMARKING
TABLE 86 CARBON OFFSETS MARKET: DETAILED LIST OF KEY STARTUPS/SMES
TABLE 87 CARBON OFFSETS MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS (STARTUPS/SMES)
10.5 CARBON OFFSETS: 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 OFFSETS MARKET: DEALS, JANUARY 2023–SEPTEMBER 2020
TABLE 94 CARBON OFFSETS MARKET: LIST OF KEY PLAYERS OPERATING IN MARKET
11 COMPANY PROFILES
(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
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
