The global carbonoffsets market size stood at USD 938.75 billion in 2022. The market is setto surge from USD 1,067.74 billion in 2023 to USD 2,549.42 billion by 2030,
exhibiting a CAGR of 13.1% over the analysis period.
Carbon offsetting involves numerous processes, such as carbonsequestration and carbon capture technologies. Carbon offsets are being favored
by the increasing investments by traders and end-user industries in the carbon
credit sector.
Fortune BusinessInsights™ provides this information in its research report, titled “Carbon Offsets Market, 2023-2030”.
COVID-19 Impact:
Fluctuations in Carbon Credit Prices on Stock Exchange Platforms ImpactedIndustry Growth
The pandemic led to a fluctuationin the prices of carbon credits on stock exchange platforms. This led to
uncertainty among major players and investors. The period also recorded a drop
in greenhouse gas emissions. These factors considerably affected industry
expansion during the pandemic period.
Segmentation:
Compliance Market Accounted forLeading Share Due to Rising Investments in Various Projects
Based on type, the market is segmented into voluntary market andcompliance market. The compliance market segment held a prominent share of the
market in 2022. The increasing investments by companies in various carbon
offset projects in light of carbon credits offered by the government are set to
drive segment growth over the coming years.
Renewable Energy Segment RecordedMajor Share Owing to Benefit of Emission Reduction Offered by these Projects
By end-user, the market is divided into industrial, forestry and land,renewable energy, house hold and appliances, transportation, and others. The
renewable energy segment held a major share in the market in 2022. There has
been a growing demand for the removal of carbon from the environment. The
launch of renewable energy projects helps decrease carbon emissions, which is a
key factor favoring segment growth.
By geography, the market for carbon offsets has been studied acrossEurope, Asia Pacific, North America, and the rest of the world.
Report Coverage:
The report presents an overview of the pivotal trends in the market. Italso gives an account of the major factors touted to boost the global business
scenario over the coming years. The major steps deployed by leading companies
to strengthen their market have also been provided in the report.
Drivers and Restraints:
Market Value to Rise with EscalatingAdoption of Carbon Offsets in Voluntary Projects
The growing participation of small emitters of greenhouse gases incarbon neutralization projects is driving the carbon offsets market growth.
These small volunteers receive carbon credit for the neutralization of each ton
of carbon. The credits can be used for trading on stock exchange platforms,
which is one of the major factors responsible for creating revenue maximization
opportunities for existing and new volunteers.
