India Voluntary Carbon Credit Market Outlook (2021-2027) | Size, companies, Share, industry, Revenue, Analysis, Forecast, Trends & COVID-19 IMPACT

India Voluntary Carbon Credit Market report comprehensively covers the market by types and by project types. India Voluntary Carbon Credit market report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Latest 2023 Development of the India Voluntary Carbon Credit Market

India Voluntary Carbon Credit Market is projected to witness robust growth in the forthcoming years on account of increasing awareness of the importance of reducing carbon emissions. This can be driven by corporate social responsibility, climate change concerns, and government regulations. In addition, the government of India has been taking several measures to promote sustainable development and reduce carbon emissions. Moreover, many Indian companies have already taken steps to reduce their carbon footprint and are increasingly looking to purchase voluntary carbon credits to offset their emissions. Apart from this, there has been an increased demand for carbon credits, driven by the growing interest in sustainability and climate action.

The Indian government has introduced several initiatives to encourage the growth of the voluntary carbon credit market. For instance, the Forest and Climate Change launched the National Carbon Offset Registry (NCOR) in 2021 which aims to provide a platform for the registration and trading of carbon credits. Indian companies and several organizations are increasingly collaborating with international carbon credit markets to access a broad range of projects and buyers. Thus, the India Voluntary Carbon Credit Market size is expected to witness significant expansion in the upcoming years. 

India Voluntary Carbon Credit Market Synopsis

India is well-positioned to become a global carbon offset supplier owing to its favorable geography enabling scaled development of the majorly preferred project types i.e. forestry & land use and renewable energy projects. However, the outbreak of the COVID-19 pandemic has resulted in a slowdown in projects, especially during 2020 and the market has recovered gradually over the next few years.

According to 6Wresearch, India Voluntary Carbon Credit market is expected to grow at a CAGR of 16.62% during 2021-2027. Supply from India has increased multifold over recent years and is further expected to continue its growth trajectory. However, the lack of government initiative to develop carbon credit markets and regulatory foresight has led to conservative growth expectations over the forecast period.

Market Analysis By Project Type

The agriculture sector held the highest revenue share in the overall India Carbon Credit Market. Additionally, major Indian companies such as Infosys, ACC cement, and Ambuja cement expressed interest in using offsets. The voluntary offset market in India is expected to showcase strong growth over the forecast period.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 6 Years Market Numbers.
• Estimated Data Starting from 2021 to 2027F.
• Base Year: 2021
• Forecast Data until 2027F.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• India Carbon Credit Market Overview
• India Carbon Credit Market Outlook
• India Carbon Credit Market Forecast
• Historical Data and Forecast of India Carbon Credit Market Transaction Values, for the Period 2017-2027F
• Historical Data and Forecast of India Carbon Credit Market Values, for the Period 2017-2027F
• Historical Data and Forecast of India Carbon Credit Market, By Types, for the Period 2017-2027F
• Historical Data and Forecast of India Carbon Credit Market, By Project Types, for the Period 2017-2027F
• Impact Analysis of Covid-19
• Market Drivers, Restraints, and Trends
• Key Performance Indicators
• Industry Life Cycle & Porter’s Five Force Analysis
• Market Opportunity Assessment
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• Voluntary
• Compliance

By Project Types

• Forestry & Land Use Project
• Transportation
• Industry
• Others