India Carbon Market (2023-2029) | Companies, Industry, Outlook, Value, Share, Revenue, COVID-19 IMPACT, Growth, Size, Analysis, Forecast & Trends

Topics Covered in the India Carbon Market

India Carbon Market report thoroughly covers the market by product types and by applications. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Carbon Market Synopsis

India Carbon Market is estimated to gain momentum over the coming years underpinned by various growing factors such as the rising adoption of clean technology and energy efficiency measures. Additionally, the promotion of renewable energy sources and clean technologies are some major drivers of the carbon market, also incentives will be provided for the adoption of clean technology.  Under these programmes including corporate social responsibility (CSR) efforts, carbon neutrality goals, and carbon offset projects, many Indian companies are contributing to reducing the carbon rate and adopting sustainability initiatives is likely to boost India Carbon Market share in the country. 

According to 6Wresearch, the India Carbon Market size is estimated to augment during the forecast period 2023-2029 and it is currently worth over $1.4 billion. The promotion of renewable energy sources and clean technologies are some major drivers of carbon market, also incentives will be provided for the adoption of clean technology.  Technology Transfer and Collaboration practices can help India to adopt clean technologies. Additionally, some programmes include corporate social responsibility (CSR) efforts, carbon neutrality goals, and carbon offset projects, many Indian companies are contributing to reducing the carbon rate by start adopting sustainability initiatives. This is estimated to bolster the India Carbon Market growth. Furthermore, many initiatives have been taken by conducting educational initiatives and public campaigns to make the public aware of climate change and carbon emission reduction. These are some significant drivers of the carbon market. 

COVID-19 Influence on the India Carbon Market

COVID-19 had left an adverse impact on the India Carbon Market which is a part of the Asia-Pacific carbon market. The shutdown of all industries due to lockdown measures imposed by the government resulted in the Interruption of Carbon Reduction Projects, leading to delays in the project execution. The renewable energy sector faced several challenges supply chain disruptions, labor shortages, and financing difficulties, reducing the widening of the renewable energy sector. The carbon market has seen numerous fluctuations in carbon credit prices, which have made it difficult for businesses and investors to plan carbon mitigation projects.

Key Players of the India Carbon Market

Some of the prominent key players in the market are mentioned below. They are operating seamlessly and catering for their customers by providing a top-notch range of products. 

• Indian Renewable Energy Development Agency (IREDA): IREDA is a government-owned financial institution that promotes & encourages renewable energy and energy efficiency projects.
• The Energy and Resources Institute (TERI): TERI is a well-renowned research institute that focuses on various aspects of sustainable development.
• Indian Energy Exchange (IEX): While primarily a power exchange, IEX also plays a significant role in trading renewable energy certificates (RECs).

Government Initiatives Introduced in the India Carbon Market

Several government initiatives are presenting the growth of the market. One of the significant initiatives conducted by the National Action Plan on Climate Change (NAPCC), is a government framework that addresses climate change. They emphasize certain aspects of climate mitigation and adaptation. The government offers GST incentives for various energy-efficient and renewable energy products, making them more affordable to encourage their adoption. Renewable Purchase Obligations have made compulsory that a certain per cent of electricity use would come from renewable energy sources. The policy promotes the reduction in carbon levels. Smart Mission is another prominent government initiative that impacts positively market growth, as this policy aims to create green cities by integrating sustainable transportation, and infrastructure with the purpose of reducing carbon emissions. 

Market Analysis by Product Type

According to Nitesh Kumar, Research Manager, 6Wresearch, it is difficult to say which product type is being highly used as, its use depends on several factors such as technological advancements, industry demands, and economic factors.

Market Analysis by Applications

Based on application, all industries have high use of carbon as it is used in various processes across the various sectors such as automotive, aerospace, and construction. Carbon is lightweight which makes this more useful than others. 

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Carbon Market Overview
• India Carbon Market Outlook
• Market Size of India Carbon Market, 2022
• Forecast of India Carbon Market, 2029
• Historical Data and Forecast of India Carbon Revenues & Volume for the Period 2019 - 2029
• India Carbon Market Trend Evolution
• India Carbon Market Drivers and Challenges
• India Carbon Price Trends
• India Carbon Porter's Five Forces
• India Carbon Industry Life Cycle
• Historical Data and Forecast of India Carbon Market Revenues & Volume By Product Types for the Period 2019 - 2029
• Historical Data and Forecast of India Carbon Market Revenues & Volume By Amorphous Carbon for the Period 2019 - 2029
• Historical Data and Forecast of India Carbon Market Revenues & Volume By Graphite for the Period 2019 - 2029
• Historical Data and Forecast of India Carbon Market Revenues & Volume By Diamond for the Period 2019 - 2029
• Historical Data and Forecast of India Carbon Market Revenues & Volume By Applications for the Period 2019 - 2029
• Historical Data and Forecast of India Carbon Market Revenues & Volume By Automotive for the Period 2019 - 2029
• Historical Data and Forecast of India Carbon Market Revenues & Volume By Construction for the Period 2019 - 2029
• Historical Data and Forecast of India Carbon Market Revenues & Volume By Engineering Industries for the Period 2019 - 2029
• Historical Data and Forecast of India Carbon Market Revenues & Volume By Aerospace for the Period 2019 - 2029
• Historical Data and Forecast of India Carbon Market Revenues & Volume By Others for the Period 2019 - 2029
• India Carbon Import Export Trade Statistics
• Market Opportunity Assessment By Product Types
• Market Opportunity Assessment By Applications
• India Carbon Top Companies Market Share
• India Carbon Competitive Benchmarking By Technical and Operational Parameters
• India Carbon Company Profiles
• India Carbon Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Types 

• Amorphous Carbon
• Graphite
• Diamond

By Applications

• Automotive
• Construction
• Engineering Industries
• Aerospace
• Others

India Carbon Market: FAQs