The global carbon offsets market size stood at USD 938.75 billion in 2022. The market is set to surge from USD 1,067.74 billion in 2023 to USD 2,549.42 billion by 2030, exhibiting a CAGR of 13.1% over the analysis period. 

Carbon offsetting involves numerous processes, such as carbon sequestration and carbon capture technologies. Carbon offsets are being favored by the increasing investments by traders and end-user industries in the carbon credit sector.   

Fortune Business Insights™ provides this information in its research report, titled “Carbon Offsets Market, 2023-2030”.

Source: https://www.fortunebusinessinsights.com/carbon-offsets-market-109080

COVID-19 Impact:

Fluctuations in Carbon Credit Prices on Stock Exchange Platforms Impacted Industry Growth

The pandemic led to a fluctuation in the prices of carbon credits on stock exchange platforms. This led to uncertainty among major players and investors. The period also recorded a drop in greenhouse gas emissions. These factors considerably affected industry expansion during the pandemic period.

Segmentation:

Compliance Market Accounted for Leading Share Due to Rising Investments in Various Projects

Based on type, the market is segmented into voluntary market and compliance market. The compliance market segment held a prominent share of the market in 2022. The increasing investments by companies in various carbon offset projects in light of carbon credits offered by the government are set to drive segment growth over the coming years.

Report Coverage:

The report presents an overview of the pivotal trends in the market. It also gives an account of the major factors touted to boost the global business scenario over the coming years. The major steps deployed by leading companies to strengthen their market have also been provided in the report.

Drivers and Restraints:

Market Value to Rise with Escalating Adoption of Carbon Offsets in Voluntary Projects

The growing participation of small emitters of greenhouse gases in carbon neutralization projects is driving the carbon offsets market growth. These small volunteers receive carbon credit for the neutralization of each ton of carbon. The credits can be used for trading on stock exchange platforms, which is one of the major factors responsible for creating revenue maximization opportunities for existing and new volunteers.