Wilmington, DE, Aug. 18, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Carbon Credit Trading Platform Market by Type (Voluntary, Compliance), by System Type (Cap and Trade, Baseline and Credit), by End-Use (Industrial, Utilities, Energy, Petrochemical, Aviation, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report. The Carbon Credit Trading Platform Market was valued at $112.4 million in 2022 and is estimated to reach $556.8 million by 2032, exhibiting a CAGR of 17.4% from 2023 to 2032.
The role of carbon credit trading platforms is pivotal in the global endeavor to combat climate change and advance environmentally responsible actions. These platforms serve as intermediaries for the exchange of carbon credits, representing the measure of carbon dioxide (or equivalent greenhouse gases) that an entity has diminished or eliminated from the environment. Through participation in carbon credit trading, corporations and entities balance their carbon emissions, support sustainable initiatives, and play a part in the collective effort to reduce greenhouse gas discharges.
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Prime determinants of growth
The adoption of corporate social responsibility among manufacturers across the globe and the implementation of stringent environmental regulations are some prime determinants that drive the growth of the global carbon credit trading market. However, limited awareness and participation and lack of uniform standards restrict market growth. Moreover, technological advancements and the expansion of the voluntary carbon market present new opportunities in the coming years.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $112.4 million |
| Market Size in 2032 | $556.8 million |
| CAGR | 17.4% |
| No. of Pages in Report | 243 |
| Segments covered | Type, System Type, End-Use, and Region. |
| Drivers | Implementation of stringent environmental regulations. |
| Adopting Corporate Social Responsibility (CSR) practices | |
| International Agreements and Protocols | |
| Opportunities | Technological Advancements |
| Expansion of Voluntary Carbon Market | |
| Restraints | Lack of uniform standards and regulations |
| Limited Awareness and Participation |
Impact Scenario
The Russia-Ukraine war had significant consequences for various sectors, including carbon credit trading.
- The conflict led to an increased uncertainty and volatility in global financial markets, including carbon credit trading platforms.
- Moreover, Ukraine plays a significant role in the European carbon market due to its emissions-intensive industries.
- If the war disrupts Ukraine's industrial output or energy infrastructure, it affects the availability and trading of carbon credits in the region.
- Political instability and armed conflicts tend to erode investor confidence.
- If the Russia-Ukraine war escalates or prolongs, it creates an atmosphere of uncertainty that dampen investor enthusiasm for carbon credit trading platforms.
- In addition, the war's geopolitical implications influence international cooperation on climate change and emissions reduction efforts.
The voluntary type of segment to maintain its leadership status throughout the forecast period
Based on type, the voluntary segment held the highest market share in 2022, accounting for nearly three-fourths of the global carbon credit trading platform market revenue and is estimated to maintain its leadership status throughout the forecast period. The rapid expansion of industrial sectors, which includes manufacturing plants, creates a substantial demand for carbon credit trading as they release harmful gases which cause the greenhouse effect.
However, the compliance segment is projected to manifest a CAGR of 17.9% from 2023 to 2032, as this type of carbon credit trading platform came into view due to harsh and strict regulation of government organizations to reach their zero-emission targets.
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The cap-trade segment to maintain its leadership status throughout the forecast period
Based on system type, the cap-trade segment held the highest market share in 2022, accounting for nearly three-fifths of the global carbon credit trading platform market revenue and is estimated to maintain its leadership status throughout the forecast period. It can be adjusted over time to respond to changes in emission reduction targets, technological advancements, and economic conditions.
However, the baseline credit segment is projected to manifest a CAGR of 17.6% from 2023 to 2032, owing to customized conservation strategies that reflect the specific ecological conditions of a particular area. This approach can be particularly effective in addressing local environmental challenges and protecting unique ecosystems.
The utilities segment to maintain its leadership status throughout the forecast period
Based on the end-use, the utilities held the highest market share in 2022, accounting for more than one-third of the global carbon credit trading platform market revenue and are estimated to maintain their leadership status throughout the forecast period. This is mainly due to the increase in the construction of solar farms, and wind farms for renewable power generation which can be used for the exchange of carbon credits.
However, the others segment including transportation (excluding aviation) and waste management end-use are projected to manifest a CAGR of 18.6% from 2023 to 2032, owing to the stringent regulations and safety standards imposed on these industries.
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Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global carbon credit trading platform market revenue and is likely to dominate the market during the forecast period. Furthermore, the Asia-Pacific region is expected to witness the fastest CAGR of 17.9% from 2023 to 2032. The Asia-Pacific region presents significant growth potential in carbon credit trading. Emerging markets, such as India, China, and Southeast Asian countries, have witnessed rapid industrial growth which will lead to increased demand for carbon credit trading. The increase in investment toward renewable energy sources is a factor that is anticipated to offer new growth opportunities for carbon credit trading in Asia-Pacific during the forecast period.
Leading Market Players: -
- Nasdaq Inc.
- European energy exchange AG
- Carbon trade exchange
- Xpansiv data systems Inc.
- CME group Inc.
- Climate impact x
- Carbonplace
- Likvidi technologies Ltd.
- Betacarbon pty Ltd.
- Carbonex Ltd.
The report provides a detailed analysis of these key players in the global carbon credit trading platform market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
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