Blockchain in Energy Market Size - By Category (Private, Public), By Application (Power, Oil & Gas), 2025 - 2034

Blockchain in Energy Market Size

The global blockchain in energy market was valued at USD 3.1 billion in 2024 and is estimated to grow at a CAGR of 41.6% from 2025 to 2034. The growing digitization of energy infrastructure and the growth in the use of smart meters around the world will enhance product uptake. The growth in renewable energy sources driven by energy industry privatization and the initiative on electricity conservation by governments, will also support the use of blockchain in energy management. These technologies facilitate reliable tracking of energy, greater stability in the grid, and intelligent operations to make mass product integration.
 

The blockchain in energy market will evolve rapidly as decentralized energy infrastructure and safe transaction points grow more crucial. The IEA 2023 electricity market report states that electricity demand globally will grow at a rate of 3% per annum to 2025, and blockchain will facilitate enhancing renewable integration. This is just one of its many uses in efficiently managing distributed resources, leading to the market's growth.
 

The increased intrinsic support from government policies and initial programs propelling rapid adoption of applied blockchain into energy is both catalyzing innovation and giving regulatory certainty. From grants to structures that would pilot the potential of blockchain, governments are investing in it across the globe to enhance their energy security and transparency. In December 2023, at COP28, the UAE government launched a blockchain carbon trading platform. The move links carbon tokens to the reforestation process, which makes net-zero goals achievable and highlights government-led blockchain innovation.
 

Technological advancements in the smart grid will fuel blockchain adoption through enabling real-time energy management by secure, automatic means. Smart grids require accurate supply and demand matching, and blockchain smart contracts can enable a strong platform for real-time energy trades. For instance, LO3 Energy and Siemens' Brooklyn Microgrid Project use blockchain to enable P2P energy transactions and further facilitate over 30,000 transactions with a grid efficiency enhancement of 20% and a reduction in transaction costs by 30%.
 

Blockchain in Energy Market Trends

• The implementation of blockchain technology for real-time energy data management will enhance efficiency in hybrid grids with renewables and smart appliances by enabling safe and transparent tracking of data to optimize resources and minimize expenses. In June 2022, Shell, Accenture, and American Express Global Business Travel launched a pioneering blockchain-powered digital solution to scale Sustainable Aviation Fuel, enhancing efficiency and trust in energy management by securely tracking and verifying usage and emissions.
   
• Blockchain technology is becoming increasingly important in providing carbon offsets in the energy market and thus may help implement other sustainability policies. The enhanced ability of blockchain technology to provide secured verification and carbon credit tracking for tempering emissions has brought much attention to the market of offsets. Enel manages over 49 GW of renewable capacity, operates in 27 countries with 61 million end users, and serves 1.8 million km of grid network, using blockchain to track energy from renewable sources and manage EV charging systems.
   
• Growing integration of blockchain with IoT devices embedded in energy grids will spur automation for scalable power management. This will give an upgrade to smart grid operations through secure automated transactions and surveillance. Powerledger's TraceX platform, a blockchain-based REC marketplace, traded over 1.2 million RECs in January 2025, allowing users to complete applications in 30 minutes and save up to 72% on administrative costs. Integrated with M-RETS, it offers secure payments and real-time price discovery for businesses and brokers.
   
• Increased use of blockchain in cross-border energy trading will make global energy markets and sharing renewable resources possible. With nations collaborating to balance energy supply and demand, blockchain allows safe, open international transactions, reducing barriers and costs. In December 2022, Siemens demoed 'Pebbles,' a blockchain platform launched in 2018, enabling local energy trading without operators. Germany's BMWi highlighted blockchain's benefits, with related projects such as BloGPV, SMECS, and ETIBLOGG supporting secure energy markets.
   

Blockchain in Energy Market Analysis

• The blockchain in energy industry was valued at USD 2 billion, USD 2.4 billion, and USD 3.1 billion in 2022, 2023, and 2024, respectively. The industry is segmented into public and private based on category.
   
• The public sector is set to exceed over USD 43 billion by 2034 as governments increasingly turn to blockchain to achieve energy transparency and sustainability. This expansion comes because of renewable energy policies, demand for secure energy data management, and the growing focus to reduce carbon footprint through decentralized networks.
   
• Government driven blockchain adoption is improving the efficiency of the grid, bolstered by capital and regulatory schemes. In October 2023, the U.S. DOE allocated USD 3.5 billion for 58 grid projects under the GRIP Program. This further included a USD 50 million grant to National Grid for grid efficiency in New York and Massachusetts. Advanced technology, supports real-time energy management, driving the product landscape.
   
• The use of blockchain by the private sector in energy is expected to expand at a CAGR of 40.8% through 2034, due to demand for efficient trading of energy and decarbonization. Real estate accounts for approximately 40% of global carbon emissions as per 2023 data, highlighting the urgent need for decarbonization solutions. Siemens' Pebbles project aims to decentralize energy systems, potentially reducing energy costs by up to 21% and increasing earnings from energy supply by 165% through 6,700 peer-to-peer contracts daily. Additionally, the green bond market has grown at an annual growth rate of 50%, reflecting rising investor interest in environmentally impactful projects.
   

• Based on application, the blockchain in energy market is segmented into power and oil and gas. The power segment holds a market share of 68.6% in 2024 due to blockchain’s critical role in advancing renewable energy integration.
   
• Rising application of decentralized grids, open markets of trade, and efficient renewable management will get government support and penetration by technology in terms of power use. The Brooklyn Microgrid project, developed by LO3 Energy, utilizes blockchain technology to facilitate localized energy trading among residents. As of 2023, the U.S. has 692 microgrids generating a total of 4.4 GW of power, with over 212 microgrids commissioned in the last four years, contributing more than 419 MW.
   
• Blockchain-based oil and gas applications within the energy industry will grow at 41.7% CAGR till 2034, due to its immense advantages in relation to supply chain development. Additionally, improved commodity tracing, cost savings, cyber-protection against threats, and sustainability projects in fossil fuel operations will foster market patterns.
   

• North America region dominated 15.5% of the blockchain in energy market in 2024, which is expected to improve further by 2034. The U.S. market was valued at USD 240 million, USD 300 million, and USD 380 million in 2022, 2023, and 2024, respectively, driven by innovation and policy support.
   
• In the U.S., the growing demand for decentralized energy solutions will fuel the use of blockchain technology. This is attributed to the need for efficient and clear energy trading platforms. In December 2024, UrbanChain raised USD 62 million in its Series B funding round to enhance its blockchain-powered local energy communities. The company manages 150 GWh of power and has a pipeline of nearly 1.2 TWh. This funding will support its expansion into new markets and the enhancement of its AI and blockchain capabilities.
   
• The European blockchain in energy market is expected to expand at a CAGR of approximately 40% till 2034, led by robust regulatory backing and emphasis on renewable integration into energy. Decarbonization regulations, use of blockchain for smart grids, and cross-border energy trade, particularly in Germany, the UK, and France, will propel the industry growth. Some of the major drivers include the use of blockchain to certify renewable energy, such as the UK National Grid's release in November 2023 of a blockchain pilot.
   
• Asia Pacific blockchain in energy market is set to reach USD 13.1 billion by 2034 based on accelerated urbanization and state-funded renewable energy drives. Industrial opportunity would be spurred by growing consumption of energy, the integration of blockchain within microgrids and smart energy infrastructure investment largely within China, Japan and Singapore. In December 2023, Ant Digital Technologies and GCL Energy Technology launched the first blockchain Real World Asset project in China. The project included tokenization of solar assets of two power plants with a total capacity of 82 MW, thus raising USD 27.4 million.
   
• The Middle East and African market for blockchain in energy is projected to grow at a CAGR of approximately 42.6% through 2034, fueled by energy diversification and blockchain adoption in oil rich nations. Growth stems from digitizing energy supply chains, enhancing transparency, and integrating renewables, especially in the UAE and Saudi Arabia. UAE's DEWA launching blockchain-supported solar energy trade platform in March 2023. Dubai pilot is encouraging renewable energy usage in accordance with sustainability targets of the region.
   

Blockchain in Energy Market Share

• The top four players, IBM, Oracle, SAP, and Accenture, share a market position of 40.2% in the blockchain in energy segment. IBM leads this with its strong blockchain platforms specifically designed for energy trading and renewable integration, using its global experience to make decentralized energy systems efficient. Oracle supports this by emphasizing secure data management, making energy transactions transparent and secure on complex networks.
   
• Dominant players are emphasizing strategic collaborations with energy and technology firms to enhance blockchain implementation and operational efficiency across the energy sector. For example, Oracle's April 2024 partnership with Enact Systems to integrate blockchain into its solar energy solution. The collaboration enables the issuance of renewable energy certificates through smart contracts, exemplifying, partnerships play a crucial role in implementing real-world blockchain solutions for green power management.
   
• High profile players are also heavily investing in research and development to create blockchain technologies that blend seamlessly into smart grids and IoT devices to address the main challenges of the industry. This strategy is designed to improve scalability and interoperability to meet real-time data demands and compliance needs, particularly in rapidly expanding markets such as North America and Europe.
   

Blockchain in Energy Market Companies

• IBM is fortifying its presence in the blockchain energy sector with platforms for growing energy trading and incorporating renewable energy sources. IBM recorded revenue for the year ended 2024 at USD 62.7 billion and approximate EBITDA of USD 15.5 billion reported January 2025 with USD 6.9 billion for R&D investments as a statement of its innovative efforts.
   
• Oracle is growing its blockchain presence in the energy sector by embedding it into energy software services. Oracle reported sales of USD 52.9 billion and R&D spending of USD 8.9 billion for fiscal year 2024, which was announced in June 2024. Its solar credit tokenization is one of its blockchain efforts that reflect its impact in the energy sector.
   

Eminent players operating in the blockchain in energy industry are:

• Accenture
• Electron
• Greeneum
• IBM
• Infosys Limited
• Kaleido
• LO3 Energy
• Oracle
• Power Ledger
• SAP
• Sun Exchange
   

Blockchain in Energy Industry News:

• In April 2024, Enact Systems integrated Oracle Blockchain technology into its solar software platform that won an award. The blockchain platform allows the issuance of Renewable Energy Certificates and carbon credits, tokenized and linked to solar system performance and validated energy output.
   
• In March 2023, Power Ledger, a peer-to-peer energy trading blockchain platform joined hands with Kaleido, a blockchain platform developer, to boost the energy trading capabilities of its platform. The tie-up was to enable Power Ledger's platform to scale up and get more efficient so that houses and enterprises can directly exchange surplus renewable energy amongst themselves.
   
• In June 2022, American Express Global Business Travel, Shell, and Accenture developed Avelia, a blockchain-based digital solution for book-and-claim sustainable aviation fuel processes. This project is one of the largest SAF pilots, providing around 1 million gallons of SAF, which can power nearly 15,000 business flights between New York and London.
   

This blockchain in energy market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in “USD Billion” from 2021 to 2034, for the following segments:

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Market, By Category

• Public
• Private

Market, By Application

• Power
  • Grid Transactions
  • Peer to Peer Transactions
  • Energy Financing
  • Sustainability Attribution
  • Electric Vehicle Charging
  • Others
• Oil & Gas
  • Supply Chain
  • Operations
  • Trading
  • Security

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Netherlands
  • France
  • Spain
• Asia Pacific
  • China
  • Japan
  • Singapore
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Chile