According to a new market research report, the global market for carbon credit trading platforms is expected to reach $317 million by 2027, up from an estimated $106 million in 2022, at a CAGR of 24.4% from 2022 to 2027. It is expected that the market will witness significant growth over the forecast period due to the surge in demand for carbon credits due to increased investments in carbon capture technologies and renewable energy adoption.
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Carbon markets are divided into two segments: voluntary carbon markets and regulatory/compliance carbon markets. There is a difference between these in terms of regulations, impact and market share, among other things. Financing projects to reduce carbon emissions helps stimulate the market for a voluntary carbon market. A few major players have a broad regional presence and dominate the switchgear market. The leading players in the carbon credit trading platform market include Nasdaq, Inc. (US), EEX Group (Germany), AirCarbon Exchange (ACX) (Singapore), Intercontinental Exchange, Inc. (US) and Xpansiv (US).
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This research report categorizes the carbon credit trading platform market by type, system type, end use, and region.
Based on species:
Voluntary carbon market
Regulated carbon market
Based on system type:
Cut and trade
Baseline and credit
Based on end use:
Industrial
Utilities
Energy
Petrochemical
Aviation
Others
Based on region:
North America
Asiatic-Pacific
Europe
Rest of the world
The utilities, followed by the industrial segment, are expected to become the largest segment, by end use, in the carbon credit market.
Based on end-use, utilities are expected to hold the largest market share during the forecast period. Energy companies are now focusing on ecology and pursuing innovative approaches and global best practices to significantly reduce CO2 emissions. The use of conventional fuel technologies with higher efficiency and less emission-intensive fuels, the evaluation and implementation of new and renewable energy facets demonstrate the commitment of companies to the environment. Carbon emissions from the energy sector and electricity companies are increasing rapidly; therefore, there is an urgent need to decarbonize these sectors, which will ultimately drive demand for carbon credits. The industrial segment market is growing due to increased emissions over the years due to heavy manufacturing and industrial activities. Heavy industries create maximum impact on the environment as their daily activities emit greenhouse gases, leading to global warming. These industries are focused on implementing decarbonization initiatives to address climate change, increasing demand for carbon credit trading platforms. The need for carbon trading and the demand for carbon credits play a crucial role.
Asia Pacific is expected to be the fastest growing market during the forecast period.
In Asia-Pacific, the leading national emissions trading system (ETS) is in the Republic of Korea. China is looking for an emissions trading system (ETS) that fits its context, offers flexibility, has no major flaws and can improve business operations. This aims to identify practical solutions for the successful design and implementation of national emissions trading systems in Asia, increase their consistency and harmonization and encourage connectivity at regional and international levels. Therefore, the demand for carbon credits to control carbon emissions will increase substantially, further driving the growth of the carbon credit trading platform market in this region.
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Recent developments
In July 2022, Aircarbon Exchange (ACX) signed a partnership agreement with the Nairobi International Financial Center (NIFC) and the Nairobi Securities Exchange (NSE) to develop a Kenyan carbon exchange during the official launch of the Nairobi International Financial Center (NIFC). . The partnership will create a carbon ecosystem in Kenya connected to ACX’s international order book, enabling buyers and sellers, international and domestic, to transact efficiently and transparently.
In March 2022, CarbonX, a carbon asset developer, signed a Memorandum of Understanding (MOU) with the AirCarbon Exchange (ACX) to jointly develop a carbon marketplace in Indonesia. The partnership will provide Indonesian carbon project developers with a domestic carbon market linked to ACX’s international order book. Furthermore, the carbon market will enable the growing Indonesian carbon market to scale up quickly.
In September 2021, CTX and IBAC will form a partnership to support voluntary climate change commitments in business aviation. The International Business Aviation Council (IBAC) represents more than 18,000 operators worldwide in the field of reducing aviation emissions.
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