Carbon Management System Market Overview
The carbon management system market is projected to reach USD 19.83 billion by 2026, registering a CAGR of 12.31% during the forecast period (2021-2026). The major driving force for the market is the introduction of various carbon emissions policies due to the demand for rapid decarbonization. The Carbon Research Management Initiative (CaMRI) is the latest program at the Center on Global Energy Policy (CGEP) that focuses on speeding up decarbonization and reducing climate change through carbon management. According to Eurostat’s latest information (February 2020), in 2018, the final consumption of electricity, gas, steam, and air-conditioning had an enormous carbon footprint (764 kg of CO2 per person) in the EU-27. This is anticipated to increase the utilization of the carbon management system in the European region.
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Carbon Management System Market – Geographical Overview
North America accounts for the largest carbon management system market share
The carbon management system market in the region remains a significant market as commercial, residential, and industrial consumers continue to drive adoption to realize energy savings. The US is currently ranked as the second-largest consumer of electricity after China. Further, the carbon management program launched in North America is a decisive step in establishing Airport Carbon Accreditation as the global standard for carbon management at airports. The launch ceremony also saw Seattle-Tacoma International Airport become the very first airport in North America to achieve certification within the program.
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Mordor Intelligence has segmented the global carbon management system market on the basis of offering, application, end-user verticals, and geography:
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