Carbon Verification Market, By Sector (Energy, Transportation ,Residential and Commercial Buildings, Industrial, Agriculture, Forestry, Water and Wastewater, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Af

Carbon Verification Market, By Sector (Energy, Transportation ,Residential and Commercial Buildings, Industrial, Agriculture, Forestry, Water and Wastewater, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).

The carbon verification market size is estimated to be valued at US$ 12.73 Bn in 2023 and is expected to reach US$ 64.16 Bn by 2030, exhibiting a compound annual growth rate (CAGR) of 26% from 2023 to 2030.

Figure 1. Carbon Verification Market Share (%), By Region, 2023

The carbon verification market consists of various products and services that help assess, verify and certify the amount of carbon emissions released by organizations. The main products in this market are carbon credits and carbon offsets. The carbon verification market refers to the market for assessing and validating reported carbon emission reductions through the use of methodologies and protocols. Carbon verification ensures that greenhouse gas emission reductions calculated and reported by organizations adhere to standards and methodologies which is agreed upon by regulators. It plays a vital role in mitigating climate change by certifying the authenticity of claimed carbon credits. The process involves an independent third party evaluator assessing an organization's greenhouse gas inventory, emission baseline, and monitoring plans to check conformance with various carbon accounting and reporting programs. Verification provides assurance to regulators and other stakeholders that reported emission reductions are real, measurable, and have resulted from implemented actions.

Market Dynamics:

The growth of the carbon verification market is driven by the increasing implementation of carbon pricing instruments worldwide.Carbon taxes and emission trading systems are compelling industries and organizations to curb their carbon footprint. This has increased the demand for carbon verification services to claim carbon credits. Stringent regulations and mandatory carbon reporting norms in regions like Europe are also propelling the market growth. However, the lack of uniform carbon accounting standards and methodologies poses a challenge for effective carbon verification and transnational carbon credit trading. The market witnesses opportunities in developing economies with high pollution levels adopting carbon reduction policies. New and emerging carbon offsetting programs also allow new revenue streams for carbon verification services.

Key features of the study:

• This report provides in-depth analysis of the global carbon verification market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global carbon verification market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include DNV GL, SGS SA, Bureau Veritas, TÜV NORD GROUP, Intertek Group plc, Carbon Trust, First Environment, Inc., ERM Certification and Verification Services, NSF International, UL LLC, Cotecna, SCS Global Services, KPMG International Cooperative, Deloitte Touche Tohmatsu Limited, and PwC.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The carbon verification market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Detailed Segmentation:

• Global Carbon Verification Market, By Sector:
• Energy
• Transportation
• Residential and Commercial Buildings
• Industrial
• Agriculture
• Forestry
• Water and Wastewater
• Other
• Global Carbon Verification Market, By Geography:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
• Top Companies in the Carbon Verification Market:
• DNV GL
• SGS SA
• Bureau Veritas
• TÜV NORD GROUP
• Intertek Group plc
• Carbon Trust
• First Environment, Inc.
• ERM Certification and Verification Services
• NSF International
• UL LLC
• COTECNA
• SCS Global Services
• KPMG International Cooperative
• Deloitte Touche Tohmatsu Limited
• PwC