Carbon Credit Trading Platform Market Worth USD 317 Million by 2027, Growing at a CAGR of 24.4%: Report by MarketsandMarkets™

Carbon Credit Trading Platform Market Size to Reach USD 317 Million by 2027

Chicago, July 20, 2023 (GLOBE NEWSWIRE) — Carbon Credit Trading Platform Market size is projected to grow from USD 106 million in 2022 to USD 317 million by 2027, at a CAGR of 24.4% according to a new report by MarketsandMarkets. Increasing carbon emissions are the primary driver for global warming across the globe. Anthropogenic greenhouse gas emissions have increased since the pre-industrial era, driven largely by economic and population growth, and are now higher than ever. There is an urgent need to minimize the impact of carbon emissions on the environment. Producers must reverse and diminish carbon emissions by investing in renewable energies, securing new uses of CO2, adopting carbon capture technologies, and using carbon offset/carbon credits. This will drive the market for carbon credit trading platforms as there will be an increase in the exchange and trading of these carbon credits.

Browse in-depth TOC on “Carbon Credit Trading Platform Market”

118 – Tables
44 – Figures
184 – Pages

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Scope of the Report

The voluntary carbon market, by type segment, is expected to be the fastest-growing segment of the Carbon Credit Trading Platform Market. Voluntary carbon credits are significantly more fluid, unrestrained by boundaries set by nation-states or political unions. They also have the potential to be accessed by every sector of the economy instead of a limited number of industries.

The cap-and-trade segment, by system type, is projected to be the fastest growing segment of the Carbon Credit Trading Platform Market. Cap and trade, and baseline and credit systems aim to reduce global carbon emissions and maintain a sustainable planet for future generations. The cap-and-trade system controls carbon emissions that sets an upper limit on total emissions, allowing entities to tread according to their usage. It also creates a powerful economic incentive for significant investment in cleaner, more efficient technologies that help drive the market. The “trade” part gives companies flexibility. The growth of this segment can also be attributed to the increasing investments in decarbonization goals, along with clean energy projects in China, India, South Korea, and Australia.

Utilities segment is expected to grow at the fastest CAGR in the Carbon Credit Trading Platform Market. The Carbon Credit Trading Platform Market has been segmented, based on end use, into industrial, utilities, energy, petrochemical, aviation, and others. Others include forestry, agriculture, and waste. Carbon credits represent certain amounts of carbon reduced or removed from the air through nature or technology. The utilities are focused on executing decarbonization initiatives to tackle climate change, driving the demand for carbon credit trading platforms. The need for carbon trading and demand for carbon credits play a crucial role. The biggest increase in CO2 emissions in 2021 was observed in the utility sector during electricity and heat production, where it reached more than 900 Mt.

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