Carbon Offset/Carbon Credit Trading Service Market Size, Share, Growth, Global Industry Analysis, by Purpose (Household, Industrial, Energy Industrial, and Others), By Downstream Industry (Renewable Energy, REDD Carbon Offset, Landfill Methane Projects, and Others), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2024 To 2032

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CARBON OFFSET/CARBON CREDIT TRADING SERVICE MARKET REPORT OVERVIEW

The global carbon offset/carbon credit trading service market size was valued at USD 0.2 billion in 2023 and is projected to touch USD 0.19 billion by 2032, exhibiting a CAGR of -0.8% during the forecast period. Asia-Pacific holds leading position in carbon offset/carbon credit trading service market share in 2023.

Carbon offset/ carbon credit trading is a credit that any person or any organization obtains to decrease its carbon footprint. It is the removal or reduction of emissions of carbon gases and other greenhouse gases such as carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), perfluorocarbons (PFCs), hydrofluorocarbons (HFCs), and sulfur hexafluoride (SF6). Offsets are measured in tons of carbon dioxide equivalent (CO2e). Carbon trading also known as carbon trading emissions trading is a market where there is buying and selling of credits which allows organizations to emit a certain limit of carbon dioxide.   

The growing demand for carbon offset/carbon credit trading services is due to increasing attention on greenhouse gases is expected to drive the market growth. An increase in government initiatives and investments to curb pollution is anticipated to facilitate market growth. The adoption of new and advanced technology is expected to pose an opportunity for the product. The benefits associated with green technology are expected to support market growth. Energy demands from various industries are expected to drive market growth. Increasing health awareness and medical problems supported the growth of service demand.     

COVID-19 Impact: Halt on Economic Activities to Hamper Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the global carbon offset/carbon credit trading service market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With the sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, there was a reduction in demand for carbon footprint management solutions. However, stringent rules and regulations led to a reduction in carbon footprints which positively affected the environment. Stringent rules and regulations led to lockdowns, social distancing, and the halting of operation activities. The demand for carbon footprint management solutions was resumed owing to resuming in the economic activities.

LATEST TRENDS

"Increasing Government Initiatives and Investments to Advance Market Progress"

The global carbon offset/carbon credit trading service market growth is anticipated to boost owing to government initiatives and investments. Government initiatives and investments to lower carbon emissions and curb environmental damage. Serious health and environmental damage caused by the imbalance in nature. Increasing industrialization and urbanization has led to unbalanced production of carbon. Number of countries and regions have implemented carbon tax to balance the carbon imbalances. Such policies by governments are anticipated to manage carbon footprints and also to have a scope of opportunities for countries. Such increasing investments and initiatives of the service is anticipated to drive the market growth.     

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CARBON OFFSET/CARBON CREDIT TRADING SERVICE MARKET SEGMENTATION

• By Type

Based on type; the market is divided into energy industrial, industrial, household, and others.

Industrial is the leading part of the type segment.

• By Application

Based on application; the market is divided into renewable energy, REDD carbon offset, landfill methane projects, and others.

REDD carbon offset is the leading part of the application segment.

DRIVING FACTORS

"Energy Demands from Various Industries to Support Market Growth"

The global carbon offset/carbon credit trading service market growth is anticipated to boost owing to its energy demands from various industries. Industrial sector is responsible for high energy demands and consumption. Majority of the energy is consumed by manufacturing sectors of businesses and is also increasing rapidly. Coal-powered energy sources are used for the majority of energy requirements. Such factors have enabled the government and industries to adopt many carbon footprint management solutions. Such applications of the service in various industries are anticipated to drive the market growth.

"Growing Medical Problems to Facilitate Market Expansion"

Increasing demand for carbon offset/carbon credit trading service is growing due to growing health awareness is expected to drive the market growth. There has been a preference for a pollution free environment amongst elderly population. Health problems and concerns amongst people are anticipated to fuel the service demand. Increasing medical applications due to carbon dioxide has led to diseases of respiratory tract and also other medical complications. Such growing demand due to health concerns is anticipated to fuel the demand in the carbon offset/carbon credit trading service market.   

RESTRAINING FACTORS

"High Initial Investments to Hamper Market Growth"

There are a number of factors that can push the growth of the carbon offset/carbon credit trading service market. Restraining factors such as high costs of initial investment, limited demand for carbon credits, and lack of preparation to start new market mechanisms. Such factors are anticipated to restrict and limit the market growth.   

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CARBON OFFSET/CARBON CREDIT TRADING SERVICE MARKET REGIONAL INSIGHTS

"Europe to Dominate Market Owing to Increasing Government Initiatives   "

Europe holds the largest part of the global carbon offset/carbon credit trading service market share due to growing initiatives by governments of the region. Effects to minimize global warming by controlling carbon emissions is also expected to drive the market growth. Growth in carbon footprint management solutions during the forecast period is anticipated to support the service demand. Governments of the region and international organizations have set the target to limit the global temperature which has propelled the growth for carbon offset/carbon credit trading service.  

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

LIST OF TOP CARBON OFFSET/CARBON CREDIT TRADING SERVICE COMPANIES

• Carbon Credit Capital (U.S.)
• Terrapass (U.S.)
• Renewable Choice (U.S.)
• 3Degrees (U.S.)
• NativeEnergy (U.S.)
• GreenTrees (U.S.)
• South Pole Group (Switzerland)
• Aera Group (France)
• Allcot Group (Switzerland)
• Carbon Clear (U.K.)
• Forest Carbon (Indonesia)
• Bioassets (Philippines)
• Biofílica (Brazil)
• WayCarbon (Brazil)
• CBEEX (China)
• Guangzhou Greenstone (China)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.