Press Release

Carbon Offset Market is Expected to be Dominated by North America Until 2028

The rising focus on reducing the carbon footprints is likely to propel the carbon offset market in the forecast period, 2024- 2028.


According to TechSci Research report, “Carbon Offset Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018–2028”, the carbon offset market is anticipated to register a robust growth due to the following factors such as, rise in partial use of carbon credits by companies, and rising financial support to local communities. A carbon offset and credit are a reduction or removal of emissions of carbon dioxide or other greenhouse gases made to compensate for emissions made elsewhere. There is no distinction between the phrases carbon offset and carbon offset credit.  In general, a carbon offset refers to a decrease in GHG emissions or an increase in carbon storage (such as through land restoration or tree planting) that is used to make up for emissions that happen somewhere else. A carbon offset credit is a transferable asset that has been verified by governments or independent certifying organizations to reflect a decrease in emissions equal to one metric tons of CO2 or another GHG.


The consistent market revenue growth can all be linked to growing concerns about global climate change, weather anomalies, global warming, and greater government initiatives to address rising carbon emissions by different countries. Furthermore, increased adoption of cutting-edge technologies, modernization and technological advancements in production methods, and increased market research & development activities in businesses contribute to market growth.


Private businesses and governmental organizations around the world are progressively putting their primary attention on energy efficiency. The expansion of the global economy has increased energy consumption rates and stressed the world's electricity grids. According to IEA analysis of the 2022 statistics from around the world, these CO2 emissions are on track to climb by roughly 300 million tons in 2022 to 33.8 billion tons in 2023, a significantly smaller rise than their spike of nearly 2 billion tons in 2021, which was the result of the swift worldwide rebound from the economic catastrophe brought on by the epidemic.


The United States Energy Information Administration predicts a 50% growth in global energy consumption over the next few years, with Asia as the primary consumer. Energy consumption is likely to rise during the following years. For instance, EMBER reports that with 4,646.87 million metric tons of CO2 emissions from power generation in 2021, while China's power sector emissions are much higher than those of the US, the nation's per-capita energy generation emissions are lower.


Browse over XX Market Data Figures spread through XX Pages and an in-depth TOC on "Global
Carbon Offset Market.”


Global carbon offset market is segmented into type, project type, end-user, and region. Based on type, the market is segmented into carbon compliance market and voluntary carbon market. Based on project type, the market is segmented into natural offsets and technological offsets. Based on end-user, the market is segmented into power, energy, aviation, transportation, industrial, buildings, and others. Based on region, the market is segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa.


Based on region, North America is the most significant shareholder in the global carbon offset market and is expected to grow during the forecast period. Due to various restrictions and significant efforts by the US government to limit GHG emissions, it is anticipated that the market for carbon offsets in North America would expand. For instance, the Affordable Clean Energy (ACE) Rule, which was published by the Environmental Protection Agency (EPA), aims to reduce greenhouse gas (GHG) emissions from fossil fuel-burning power plants that are already in operation. When expenses, domestic climate advantages, and health benefits are considered, the EPA may expect to gain between USD 120 million to USD 730 million year. Demand for carbon offsets is projected to rise because of future carbon footprint laws.


Based on type, the voluntary carbon segment dominates in the global carbon offset market because rules imposed by authorities in the compliance market are not present in the voluntary market. With increased openness and clarity surrounding the credit quality, participants may take an active role in the voluntary market with confidence.


Based on end-user, the power segment dominates in the global carbon offset market as the power industry is adopting carbon offsetting programmes and schemes, since it is a significant emitter of greenhouse gases and employs commercially accessible low-GHG technologies.


Major market players operating in the global carbon offset market are:

  • NativeEnergy, Inc.
  • 3Degrees Group, Inc.
  • Terrapass
  • EKI Energy Services Ltd.
  • Ecologi
  • Climeworks AG
  • Climate Vault, Inc.
  • Watershed Technology, Inc.
  • ClearCompany, Inc.
  • Carbonfund


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“The need for more sustainable energy sources and increased industrial energy consumption are driving the growth of the market for carbon offsets. Additionally, the market for carbon offsets is growing because of an increase in government initiatives and low-carbon policies. Furthermore, it is anticipated that the growing adoption trends of cutting-edge technologies, such as artificial intelligence, IoT, and big data, across industries will present lucrative opportunities for the expansion of the carbon offset market during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.


“Carbon Offset Market- Global Industry Size, Share, Trends, Opportunities, and Forecast, 2018-2028, Segmented By Type (Carbon Compliance Market, Voluntary Carbon Market), By Project Type (Natural Offsets, Technological Offsets), By End-User (Power, Energy, Aviation, Transportation, Industrial, Buildings, and Others), By Region and Competition”,
has evaluated the future growth potential of global carbon offset market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global carbon offset market.


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