Carbon Management System Global Market Report 2024

The carbon management system market size has grown rapidly in recent years. It will grow from $11.38 billion in 2023 to $12.7 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth observed during the historic period can be attributed to several factors, including regulatory mandates, corporate sustainability commitments, escalating energy costs, mitigating reputational risks, and increasing pressure from investors.

The carbon management system market size is expected to see rapid growth in the next few years. It will grow to $19.83 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The anticipated growth in the forecast period can be attributed to several factors, including the proliferation of net zero emissions pledges, the implementation of carbon pricing mechanisms, the growing demand for Environmental, Social, and Governance (ESG) reporting and transparency, advancements in technology for carbon tracking, and the management of supply chain emissions. Major trends expected during this period encompass the integration with digital platforms, the emergence of carbon offset markets, the adoption of artificial intelligence for optimization, the growth of carbon capture and storage solutions, and the expansion of scope 3 emissions tracking.

The increasing industrial need for energy consumption is poised to drive the expansion of the carbon management system market in the future. Energy consumption refers to the utilization of energy by individuals and organizations to carry out various tasks or activities. This growing demand in the industrial sector is driven by the expansion of manufacturing operations, infrastructure development advancements, population growth, and urbanization, which necessitate more energy-intensive processes. Carbon management systems play a vital role by offering real-time monitoring of carbon emissions from industrial processes, enabling companies to pinpoint areas of inefficient energy consumption through precise emission measurements. For instance, in September 2021, the Department for Business, Energy and Industrial Strategy reported a 4.6% increase in energy consumption from 2020 to 2021, rising from 128 to 134 million tonnes of oil equivalent, underscoring the significant impact of industrial energy demand on the carbon management system market.

Key players in the carbon management system market are concentrating on developing systems integrated with dual-standard intelligent cloud carbon management to ensure accurate tracking, reporting, and reduction of carbon emissions. This dual-standard intelligent cloud technology enhances the efficacy and efficiency of carbon management systems, enabling organizations to better manage their carbon footprint and contribute to sustainability. For example, in November 2021, SGS S.A. introduced S-Carbon, a dual-standard digital carbon management intelligent cloud platform deployed on Azure. It adheres to both the international ISO 14064-1 standard and Chinese national standards for quantitative carbon emissions performance tracking. Leveraging Microsoft Azure's data storage and analysis technology, the platform facilitates robust and efficient data management and analysis critical for carbon emissions tracking and management.

In August 2022, Baker Hughes Company acquired Mosaic Materials Inc. for an undisclosed sum. This strategic move aims to leverage Mosaic Materials' expertise in metal-organic framework (MOF) materials to develop innovative technology for efficient CO2 capture from the atmosphere. Mosaic Materials Inc. specializes in material design for environmental remediation, carbon capture, and storage technology, aligning with Baker Hughes Company's commitment to advancing sustainable solutions in the energy sector.

Major companies operating in the carbon management system market are Onetrust LLC, TerraCycle Inc., AiDash Inc., Climeworks AG, The Carbon Trust, Svante Inc., LanzaTech Inc., Plan A UG, CarbonCure Technologies Inc., Carbon Clean Solutions Limited, Xpansiv Data Systems LLC, Pachama Inc., Optimum Energy LLC, C-Capture Limited, CarbonChain Limited, LogicLadder Technologies Pvt. Ltd., Aclima Inc., Global Thermostat LLC, AirCarbon Exchange (ACX), CarbonCloud AB, NCX, Carbon Upcycling Technologies LLC, TerraPass Inc., Verdani Partners LLC, Carbmee Technologies Pvt. Ltd., WattTime Corporation, Carbon Analytics Limited.

North America was the largest region in the carbon management system market in 2023. The regions covered in the carbon management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the carbon management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A carbon management system encompasses a suite of strategies, policies, and practices devised to monitor, diminish, and offset carbon emissions within an organization. This entails measuring the carbon footprint, establishing emission reduction objectives, implementing initiatives to curtail carbon emissions, and procuring carbon offsets to counterbalance emissions that cannot be eradicated. The objective of a carbon management system is to mitigate the impact of an organization's activities on climate change and contribute to a more sustainable future.

The primary components of a carbon management system consist of solutions and services. Solutions within the carbon management systems market encompass technologies, strategies, and services geared towards monitoring, reducing, and mitigating carbon emissions across diverse industries and sectors. These solutions are deployed via cloud-based and on-premises modes for energy management, greenhouse gas management, air quality management, sustainability, and other related areas. End-users of these systems include industries such as oil and gas, manufacturing, healthcare, information technology and telecommunications, among others.

The carbon management system market research report is one of a series of new reports that provides carbon management system market statistics, including carbon management system industry global market size, regional shares, competitors with a carbon management system market share, detailed carbon management system market segments, market trends and opportunities, and any further data you may need to thrive in the carbon management system industry. This carbon management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The carbon management system market consists of revenues earned by entities by providing services such as carbon offsetting, emission reduction strategies and sustainability reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. The carbon management system market also includes sales of emission monitoring equipment, energy monitoring devices, renewable energy systems, vehicle tracking systems, data logging equipment and remote monitoring systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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