Carbon Credit Trading Platform Market Forecast to Surpass $317 million by 2027 with a CAGR of 24.4%

According to a new market research report, the global carbon credit trading platform market is expected to reach USD 317 million by 2027 from an estimated USD 106 million in 2022, at a CAGR of 24.4% from 2022 to 2027. The global carbon credit trading platform market is expected to witness significant growth during the forecast period due to the surge in demand for carbon credits resulting from the increased investments in the carbon capture technologies as well as renewable energy adoption.

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The carbon markets are differentiated into two segments as voluntary carbon markets and regulatory/ compliance carbon markets. There is a difference between these in terms of regulations, impact and the share in the market, among other factors. The funding into projects for reduction of carbon emissions is helping to drive the market for voluntary carbon market. A few major players have a wide 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 based on type, system type, end-use, and region.
Based on type:

Voluntary Carbon Market
Regulated Carbon Market

Based on system type:

Cap and Trade
Baseline and Credit

Based on end use:

Industrial
Utilities
Energy
Petrochemical
Aviation
Others

Based on the region:

North America
Asia Pacific
Europe
Rest of the World

Utilities followed by the industrial segment is projected to emerge as the largest segment, by end use, in the carbon credit trading platform market

Based on the end use, utilities is projected to hold the highest market share during the forecast period. Power companies are now focusing on ecology and pursuing innovative approaches and global best practices for reducing carbon emissions significantly. The use of higher efficiency conventional fuel technologies and lesser emission-intensive fuels, evaluation and implementation of new and renewable energy facets demonstrate companies' environmental commitment. Carbon emissions from the power sector and electrical companies are increasing rapidly; therefore, there is an urgent need for decarbonization in these sectors, which eventually propels the demand for carbon credits. The market for the industrial segment is growing owing to the increased emissions over the years due to heavy manufacturing and industrial activities. Heavy industries are creating maximum environmental impact as their daily operations emit greenhouse gases, leading to global warming. These industries 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.

Asia Pacific is expected to be the fastest growing market during the forecast period.

In Asia Pacific, the leading national emission trading system (ETS) is in the Republic of Korea. China is seeking an emission trading system (ETS) that fits with its context, offers flexibility, is without major faults, and can improve operations. This seeks 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 a regional and international level. Hence, the demand for carbon credits to control carbon emissions will rise 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 collaboration agreement with the Nairobi international financial center (NIFC) and the Nairobi Securities Exchange (NSE) to develop a Kenya carbon exchange during the official launch of the Nairobi international financial center (NIFC). The partnership will establish a carbon ecosystem in Kenya connected to ACX's international client order book, allowing buyers and sellers, international and domestic, to transact efficiently and transparently.
In March 2022, CarbonX, a carbon asset developer, has signed a memorandum of understanding (MOU) with the AirCarbon exchange (ACX) to develop a carbon marketplace in Indonesia jointly. The partnership will provide Indonesian carbon project developers with a domestic carbon market linked to ACX's international client order book. Also, the carbon marketplace will allow the growing Indonesian carbon market to rapidly scale up.
In September 2021, CTX & IBAC -Partnership to support Business Aviation Voluntary Commitments on Climate Change. The International Business Aviation Council (IBAC) represents over 18,000 operators worldwide on Aviation emissions reductions.

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