Carbon Credit Market to exceed $343.6 Bn by 2032, Says Global Market Insights Inc.
Major carbon credit market participants include The Carbon Trust, Climate Impact Partners, South Pole, 3Degrees, VERRA, TerraPass, CarbonClear, PwC, EcoAct, ClimeCo, Ecosecurities, ALLCOT, Atmosfair, The Carbon Collective Company, Sterling Planet, WGL Holdings, Green Mountain Energy Company.
Selbyville, Delaware,, Feb. 07, 2024 (GLOBE NEWSWIRE) --
The carbon credit market is projected to reach USD 343.6 billion by 2032, as reported in a research study by Global Market Insights Inc.
The government's resolute commitment to mitigating climate change, in tandem with the introduction of diverse schemes and voluntary carbon offset initiatives, will accelerate the business growth. These concerted efforts aim to align with global environmental goals, encouraging both the public and private sectors to actively participate in carbon reduction initiatives, thereby fostering the market.
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The carbon credit market from the voluntary segment will secure a notable market share by 2032, propelled by an increasing emphasis on corporate social responsibility and sustainability. Companies are voluntarily offsetting their carbon footprints to align with environmental goals and enhance their reputations. This proactive approach, in line with growing consumer awareness, will position the voluntary segment as a significant contributor to the dynamic carbon credit industry, reflecting a commitment to mitigating climate change.
The renewable energy segment will gain a noteworthy carbon credit market share from 2024 to 2032, driven by a global shift towards sustainable practices. Investments in renewable energy projects, such as wind and solar, play a pivotal role in reducing carbon emissions. Governments and businesses increasingly seek carbon credits to offset their environmental impact, positioning this segment as a pivotal player in the evolving carbon credit industry.
Asia Pacific carbon credit industry will register significant expansion between 2024 and 2032, fueled by the region's robust economic growth coupled with an increasing focus on sustainable practices and environmental regulations. Governments and businesses in APAC are actively engaging in carbon offset initiatives, contributing to the region's pivotal role in shaping the market. With a commitment to mitigating climate change, Asia-Pacific will emerge as a key contributor to shaping the market outlook.
Some of the leading carbon credit market Companies including 3Degrees, South Pole, Terrapass, Sterling Planet, Inc., CarbonClear, PwC, WGL Holdings, Inc., EcoAct, ALLCOT, Green Mountain Energy Company, The Carbon Collective Company, Atmosfair, Ecosecurities, ClimeCo LLC., climate impact partners, Verra. These leaders are augmenting their industry share through diverse initiatives such as investing in sustainable projects, optimizing emissions reduction strategies, and engaging in carbon offset programs. These players are aligning their business practices with environmental sustainability, capturing a larger market share. Collaborations, adherence to international standards, and innovative carbon reduction technologies further strengthen their position in this dynamic market, fostering growth and environmental responsibility simultaneously.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Carbon credit industry 3600 synopsis, 2019 - 2032
Chapter 3 Carbon Credit Industry Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.5 Porter's Analysis
3.6 PESTEL Analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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