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North America Carbon Credit Market Analysis
The voluntary North America carbon credit industry will surpass over USD 3 billion by 2034. The regional voluntary carbon credit market is experiencing rapid growth as businesses increasingly prioritize sustainability and adopt ambitious net-zero goals. Companies are leveraging carbon credits to offset residual emissions, focusing on projects with verified environmental and social benefits. Additionally, high demand for nature-based solutions such as reforestation and soil carbon sequestration are driving market activity across the region.
The forestry & land use segment will grow at a CAGR of over 15.5% through 2034. Afforestation and reforestation projects play a pivotal role in the carbon credit market, effectively capturing carbon while enhancing biodiversity and restoring ecosystems. As key "natural climate solutions," they integrate carbon sequestration with sustainable land management, delivering added benefits like biodiversity preservation and community support will contribute to the overall regional market growth over the forecast timeline.
The U.S. carbon credit market is projected to exceed USD 30 billion by 2034, driven by growing corporate sustainability initiatives and the rising adoption of voluntary offset mechanisms. Businesses are utilizing carbon credits to meet net-zero targets fueling demand for high-quality credits certified by rigorous standards. The integration of technologies such as blockchain and AI is improving transparency and streamlining trading processes. Additionally, rising strong emphasis on co-benefits, such as biodiversity conservation and community development, is further increasingly influencing investment decisions, thereby contributing to the market growth.
The Canada carbon credit market is gaining momentum driven by increasing corporate commitments to sustainability and rising demand for voluntary offsets. Businesses are actively investing in high-quality carbon credits, prioritizing projects with verified environmental and social benefits. Nature-based solutions, such as reforestation and wetland restoration, are particularly popular, alongside innovative approaches like carbon capture and utilization technologies. Companies are integrating carbon credits into broader net-zero strategies, focusing on projects that align with science-based targets.
What is the market share of forestry and land use in the North America carbon credit industry?
The forestry and land use segment is expected to grow at a CAGR of over 15.5% by 2034, driven by the rising adoption of afforestation and reforestation projects that integrate carbon sequestration with biodiversity conservation and ecosystem restoration.
How big is the North America carbon credit market?
The North America market size for carbon credit was valued at USD 20 billion in 2024 and is projected to reach USD 82.8 billion by 2034, driven by a CAGR of 15.8% during the forecast period, fueled by increasing corporate sustainability initiatives and the adoption of carbon credits for net-zero goals.
How big is the U.S. carbon credit market?
The U.S. carbon credit market is projected to exceed USD 30 billion by 2034, driven by growing corporate sustainability efforts, the adoption of voluntary offset mechanisms, and advancements in technologies like blockchain and AI for enhanced transparency.
Who are the major players in the North America carbon credit market?
Key players in the market include 3Degrees, Carbon Collective, Carbon Clean, Climeworks, CarbonCure Technologies, Conservation International, Enel X, Green Mountain Energy, WGL Holdings, Sterling Planet, South Pole, Terrapass, The Nature Conservancy, and Xpansiv.