The Global Carbon Neutrality Market Size is valued at 9.92 billion in 2022 and is predicted to reach 19.16 billion by the year 2031 at a 7.75% CAGR during the forecast period for 2023-2031.
Carbon neutrality, which is backed by government efforts, can aid in recording, monitoring, and lowering emissions emitted by houses and companies. Several governments and stakeholders throughout the world are constantly making policies and changes to minimize greenhouse gas and emission levels in the environment. According to the World Energy Outlook-2021, more than 120 nations declared new emission reduction targets for 2030, and governments representing over 70% of global CO2 emissions have vowed to achieve net zero emissions by 2050. Worldwide initiatives such as the Carbon Action Initiative and the Net-Zero Government Initiative have been launched to achieve these goals.
However, the emergence of COVID-19 has damaged numerous markets worldwide by disrupting distribution systems and logistics bottlenecks. Covid-19 and its spread caused alarm in most countries, and protecting the climate and investing in environmental improvement were not the administration's top priorities. Another issue affecting the carbon footprint management business in covid-19 was the termination of weather change-related research and development programs, which created a market vacuum for the carbon neutrality market.
Competitive Landscape:
Some of the Carbon Neutrality Market players are:
- ClimeCo LLC.
- Carbon Footprint Ltd.
- Green Mountain Energy Company
- Terrapass
- Schneider Electric
- ENGIE
- SAP
- EcoAct
- Climate Impact Partners
- ESG Enterprise
Market Segmentation:
The carbon neutrality market is segmented on the basis of activity, components, and verticals. Based on activity, the market is segmented as emissions reduction management, renewable energy management, waste management, product life cycle management, and others. The component segment includes solutions and services. By verticals, the market is segmented into manufacturing, shipping & logistics, energy & utilities, construction, automotive, food & beverages, and others.
Based On Activity, The Emissions Reduction Management Segment Is Accounted As A Substantial Contributor To The Carbon Neutrality Market
The emissions reduction management category is expected to hold a major share of the global carbon neutrality market in 2022. Emission reduction management in carbon neutrality entails putting in place particular methods to reduce or offset greenhouse gas emissions. This includes investigating and implementing renewable energy sources, lowering energy usage via energy efficiency measures, and offsetting emissions with carbon credits. The energy sector is accountable for around three-quarters of greenhouse gas emissions and is critical in avoiding the worst effects of climate change. Furthermore, replacing gas, polluting coal, and oil-fired electricity with renewable energy sources such as solar or wind will dramatically reduce carbon emissions.
The Services Segment Witnessed Growth At A Rapid Rate
The services segment is projected to develop at a rapid rate in the global carbon neutrality market. Carbon neutrality services can assist organizations and individuals in becoming more environmentally sustainable and reducing their environmental effects. Carbon footprint analyses to determine the sources of carbon dioxide emissions, carbon offsetting programs to minimize emissions, and investments in renewable energy sources are examples of services. Furthermore, the growing demand for automated carbon footprint computation to give consumers complete visibility into where carbon credits are created is driving revenue growth in this market.
The North American Carbon Neutrality Market Holds A Significant Revenue Share In The Region
The North America Carbon Neutrality Market is expected to register the highest market share in terms of revenue in the near future. This is due to the quick implementation of carbon pricing, growing demand for sustainability and renewable energy, and increasingly stringent waste management regulations. Furthermore, the Asia Pacific market is predicted to grow enormously throughout the forecast period.
Many governments in this region have set lofty goals and initiated measures to cut carbon emissions. Furthermore, governments recognize the need to cut carbon emissions and construct cities better positioned for climate change's effects as low-carbon cities proliferate in this region. Furthermore, low-carbon cities are ones that are meant to lower their carbon footprint by improving energy efficiency, improving transportation systems, and making better use of resources.
Carbon Neutrality Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 9.92 Bn |
|
Revenue forecast in 2031 |
USD 19.16 Bn |
|
Growth rate CAGR |
CAGR of 7.75 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Product, Application, and End-use |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
ClimeCo LLC., Carbon Footprint Ltd, Green Mountain Energy Company, Terrapass, Schneider Electric, ENGIE, SAP, EcoAct, Climate Impact Partners, and ESG Enterprise. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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