With the emergence and long-term Impact of COVID-19, Global Carbon Credit Market to reach USD XX Million by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Carbon Credit Market points towards a potential rise to USD XXX Million by 2030. The carbon credit market is a system designed to reduce greenhouse gas emissions by providing economic incentives for companies and organizations to reduce their carbon footprint. Carbon credits represent a certain amount of carbon dioxide or other greenhouse gases that can be emitted by an organization, and can be bought and sold on the carbon credit market.
The major driving factors for the Global Carbon Credit Market is rising government support and rising support for corporate social responsibility. Further, rising technological advancement and public awareness and advocacy is creating lucrative growth opportunities for the market over the forecast period 2023-2030.
Geographically, the global Carbon Credit market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Europe is currently the largest market for carbon credits, with the European Union Emissions Trading System (EU ETS) being the world’s largest carbon market. The EU ETS covers emissions from power generation, industry, and aviation, and has set a target of reducing emissions by at least 40% by 2030. North American carbon credit market is the fastest-growing, with California and Quebec participating in a joint carbon market, and other states and provinces considering joining. The Regional Greenhouse Gas Initiative (RGGI) is also a cap-and-trade system covering power plants in the northeastern US.
The global Carbon Credit market is highly competitive owing to the presence of several key players such as WGL Holdings, Inc. Enking International Green Mountain Energy Native Energy Cool Effect, Inc. ClearSky Climate Solutions Sustainable Travel International 3 Degrees Terrapass Sterling Planet, Inc., and others.
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Key findings of the study suggest:
- Global Carbon Credit Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the Sector segment, Energy emerged out as the leading market segment in 2022.
- Europe is anticipated to drive regional growth owing to the European Union Emissions Trading System (EU ETS) being the world’s largest carbon market. The EU ETS covers emissions from power generation, industry, and aviation, and has set a target of reducing emissions by at least 40% by 2030.
- North America is expected to grow at higher rate followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Sector:
- Energy
- Transportation
- Residential and Commercial Buildings
- Industry
- Agriculture
- Forestry
- Water and Wastewater
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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