Australia Carbon Credit Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 6.70% (2024-2032)
The market reflects Australia growing commitment to sustainable practices and climate goals. With strong government support and rising corporate participation, it offers significant growth potential. According to the latest report by IMARC Group, the Australia carbon credit market size reached 17.2 million ACCUs in 2023. Looking forward, IMARC Group expects the market to reach 32.2 million ACCUs by 2032, exhibiting a growth rate (CAGR) of 6.70% during 2024-2032.
Download a sample copy of the Report: https://www.imarcgroup.com/australia-carbon-credit-market/requestsample
Australia Carbon Credit Industry Trends and Drivers:
Australia carbon credit market has grown a lot in recent years. This growth comes from more businesses and governments promising to reach net-zero emissions. The market runs under the Emissions Reduction Fund (ERF). This fund gives out Australia Carbon Credit Units (ACCUs) for projects that cut down or capture carbon. Examples include reforestation, soil carbon efforts, and renewable energy projects. Demand for ACCUs has risen sharply. Businesses are offsetting emissions to reach sustainability goals. This shift showed rising demand but also uncertainty about policy changes. The federal government has made reforms to improve the ERF's integrity. They introduced a new Carbon Abatement Integrity Committee. These changes have boosted investor confidence. Challenges persist. Project delays are happening because of labor shortages and land access issues. These factors may limit supply in the medium term.
The Australia carbon credit market is set to grow. New technologies and global connections will support this expansion. New methods help carbon projects. Remote sensing and AI analytics improve accuracy and scale. This is especially true in agriculture and forestry. The government is looking into international carbon trading partnerships. This includes possible deals with Southeast Asian countries. These efforts could create new opportunities for demand and investment. Voluntary demand is likely to increase. More companies are setting science-based targets. They also feel pressure from stakeholders to show real climate action. The market faces risks from policy changes. This includes possible changes to the Safeguard Mechanism’s baselines. It also includes new sectors that they may add. Worries about transparency and extra benefits from some projects can sway buyer choices. This could lead to a preference for high-integrity credits. The market has strong potential. But its path depends on balancing supply issues with strong demand. Trust in Australia carbon credit system is also key.
We explore the factors driving the growth of the market, including technological advancements, consumer behaviors, and regulatory changes, along with emerging Australia carbon credit market trends.
Australia Carbon Credit Industry Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Compliance
- Voluntary
Project Type Insights:
- Avoidance/Reduction Projects
- Removal/Sequestration ProjectsNature-based
Technology-based
End-Use Insights:
- Power
- Energy
- Aviation
- Transportation
- Buildings
- Industrial
- Others
Regional Insights:
- Australia Capital Territory & New South Wales
- Victoria & Tasmania
- Queensland
- Northern Territory & Southern Australia
- Western Australia
Competitive Landscape:
The competitive landscape of the industry has also been examined, along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current, and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals, licensing navigation, branding, marketing, and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
Street: Morgan Park QLD 4370
City/Town: Warwick
State/Province/Region: Queensland
Country: Australia
Zip/Postal Code: 4370
Email: sales@imarcgroup.com
Phone Number: +1-631-791-1145