Carbon Accounting Market Size
| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 21.96 Billion |
| Market Size (2030) | USD 79.46 Billion |
| CAGR (2025 - 2030) | 29.33% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Carbon Accounting Market Analysis
The Carbon Accounting Market size is estimated at USD 21.96 billion in 2025, and is expected to reach USD 79.46 billion by 2030, at a CAGR of 29.33% during the forecast period (2025-2030).
- Over the medium term, factors such as growing corporate focus on achieving their sustainability goals and increasing stringent regulations and compliances over carbon emission measuring and regulations are expected to be among the most significant drivers for the carbon accounting market during the forecast period.
- On the other hand, the complexity of accumulating data and implementing carbon accounting methodology for accurate calculation is high, which is expected to pose a threat to the market during the forecast period.
- However, continued advancements in developing more innovative and efficient carbon accounting methodologies and software are ongoing. This factor is expected to create several opportunities for the market in the future.
- Asia-Pacific dominates the market and will likely register the highest CAGR during the forecast period. China, India, Japan, and others drive it due to the growing number of industries and infrastructural development activities in these countries.
Carbon Accounting Market Trends
The Power Utilities Segment to Witness Significant Growth
- The power utilities end-user segment is one of the most essential industries for carbon accounting as these segments are significant contributors to greenhouse gas emissions. These industries heavily rely on fossil fuels such as oil, coal, and natural gas for power generation. These sources are heavy emitters of greenhouse gases, which makes carbon accounting necessary for these companies to comply with the regulations and compliance requirements, along with informing investors and stakeholders.
- Utilities will identify the highest emitting sources by conducting extensive carbon accounting practices and developing strategies and policies to counter the growth and reduce emissions. These strategies and policies can include investing in renewable energy sources, improving efficiency, implementing carbon capture technologies, or adopting cleaner fossil fuel technology. Carbon accounting allows for assessing the carbon footprint across complex operational components like generation facilities, transmission/distribution systems, and supporting infrastructure, prioritizing efforts and optimizing resources.
- According to the International Renewable Energy Agency, the global imperative of reducing carbon emissions and adopting cleaner energy sources has led significant power utility companies to invest heavily in developing renewable energy power projects, significantly increasing the renewable energy installed capacity. In 2023, the global renewable energy installed capacity was around 3869.7 GW compared to 3396.32 GW in 2022, registering a growth rate of approximately 14%.
- Moreover, carbon accounting provides power utilities with crucial data to assess and mitigate risks posed by climate change, such as potential supply disruptions, infrastructure damage, and shifting consumer demands. This informs long-term resilient planning and sustainable investment decisions for a low-carbon future.
- For instance, in March 2024, GE Vernova, a primary renewable energy project developer and operator, announced that it would deploy carbon accounting software in Globeleq’s Azito Energie S.A. power plant in Cote D’Ivoire. This is the largest natural gas power plant in the country. GE Vernova expects the software to provide necessary information on carbon emissions and identify sources to develop more efficient processes and equipment.
- Therefore, as mentioned above, the power utilities segment is expected to witness a significant growth rate during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific will dominate the global carbon accounting market in the coming years. It is driven by rapid industrialization, population growth, and the increasing urgency to address climate change, as the region predominantly relies on fossil fuels to meet its energy demands. As manufacturing hubs and developing economies, countries like China, India, Japan, and Southeast Asian nations are major contributors to global greenhouse gas emissions. However, they are also actively pursuing sustainable development goals and implementing policies to curb their carbon footprints.
- The growing intensity of industrial activities and energy demands across Asia-Pacific drives the demand for robust carbon accounting practices to accurately measure, report, and ultimately reduce emissions. Multinational corporations operating in the region face stricter environmental regulations and reporting requirements, driving the adoption of sophisticated carbon accounting systems. Additionally, the region's focus on renewable energy development, such as solar and wind power, creates a pressing need for comprehensive carbon lifecycle analysis to quantify emissions savings.
- In November 2023, the Chinese government declared its intention to eliminate all restrictions on foreign involvement in manufacturing, showcasing the nation's ongoing commitment to embracing foreign enterprises. This progressive step is anticipated to foster growth in the Chinese manufacturing sector, subsequently influencing the overall manufacturing landscape and propelling the carbon accounting market forward during the forecast period.
- Moreover, the Asia-Pacific market has witnessed significant developments and investments in new clean technologies, infrastructure upgrades, and various other clean energy solution products and projects. This necessitates adopting carbon accounting methods to track and reduce carbon emissions and identify inefficient resources. This has led to collaboration with various international players and the development of more precise carbon accounting methodologies. The rising environmental consciousness among consumers and stakeholders in Asia-Pacific further fuels companies' demand for transparent carbon reporting.
- The large-scale development of manufacturing industries, such as batteries, automobiles, instruments, and equipment, presents enormous opportunities for international market players to explore carbon accounting service providers, software developers, and consulting firms catering to diverse industries.
- Thus, the Asia-Pacific region is expected to dominate the market segment during the forecast period.
Carbon Accounting Industry Overview
The global carbon accounting market is semi-consolidated. Some key players in this market (in no particular order) include Greenly, International Business Machines Corporation, ENGIE Impact, Persefoni AI, and Carbon Direct.
Carbon Accounting Market Leaders
-
Greenly
-
International Business Machines Corporation
-
ENGIE Impact
-
Persefoni AI
-
Carbon Direct
- *Disclaimer: Major Players sorted in no particular order
Carbon Accounting Market News
- March 2024: Greenly, a significant carbon accounting startup, announced that it secured funding for its series B round. The company raised USD 52 million in its Series B round. Investors aim to develop more precise carbon accounting methodologies and accurately deploy these solutions to increase the company’s market share globally.
- March 2024: Green Project Technologies, a prominent SaaS data management platform specializing in user-friendly, audit-quality carbon accounting, unveiled its Green Project White Label solution. This offering targets the ESG service market, providing a customizable platform that enables ESG service providers, including consulting firms, accountants, and other software providers, to integrate top-tier branded carbon accounting seamlessly into their current sustainability offerings.
Carbon Accounting Industry Segmentation
Carbon accounting, also known as carbon footprinting, measures, records, and reports the amount of greenhouse gas emissions (GHG) produced directly or indirectly by an organization, product, or activity.
It helps businesses and individuals understand their environmental impact and identify opportunities for reducing emissions to mitigate climate change.
The carbon accounting market is segmented by type, end users, and geography. By type, the market is segmented into cloud-based and on-premise. The market is segmented by end-user industries, such as oil and gas, power utilities, construction and infrastructure, telecommunication, food and beverage, and other end-user industries. The report also covers the size and forecasts for the carbon accounting market across major regions. Market sizing and forecasts are made for each segment based on revenue (USD).
| Type | Cloud Based | ||
| On Premise | |||
| End Users | Oil and Gas | ||
| Power Utilities | |||
| Construction and Infrastructure | |||
| Telecommunication | |||
| Food and Beverages | |||
| Other End Users | |||
| Geography [Market Size and Demand Forecast till 2029 (for Regions Only)] | North America | United States | |
| Canada | |||
| Rest of North America | |||
| Europe | Germany | ||
| France | |||
| United Kingdom | |||
| Italy | |||
| Spain | |||
| NORDIC | |||
| Russia | |||
| Turkey | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| India | |||
| Australia | |||
| Japan | |||
| South Korea | |||
| Malaysia | |||
| Thailand | |||
| Indonesia | |||
| Vietnam | |||
| Rest of Asia-Pacific | |||
| Middle East and Africa | Saudi Arabia | ||
| United Arab Emirates | |||
| Nigeria | |||
| Egypt | |||
| Qatar | |||
| South Africa | |||
| Rest of Middle East and Africa | |||
| South America | Brazil | ||
| Argentina | |||
| Colombia | |||
| Rest of South America | |||
| Cloud Based |
| On Premise |
| Oil and Gas |
| Power Utilities |
| Construction and Infrastructure |
| Telecommunication |
| Food and Beverages |
| Other End Users |
| North America | United States |
| Canada | |
| Rest of North America | |
| Europe | Germany |
| France | |
| United Kingdom | |
| Italy | |
| Spain | |
| NORDIC | |
| Russia | |
| Turkey | |
| Rest of Europe | |
| Asia-Pacific | China |
| India | |
| Australia | |
| Japan | |
| South Korea | |
| Malaysia | |
| Thailand | |
| Indonesia | |
| Vietnam | |
| Rest of Asia-Pacific | |
| Middle East and Africa | Saudi Arabia |
| United Arab Emirates | |
| Nigeria | |
| Egypt | |
| Qatar | |
| South Africa | |
| Rest of Middle East and Africa | |
| South America | Brazil |
| Argentina | |
| Colombia | |
| Rest of South America |
Carbon Accounting Market Research FAQs
How big is the Carbon Accounting Market?
The Carbon Accounting Market size is expected to reach USD 21.96 billion in 2025 and grow at a CAGR of 29.33% to reach USD 79.46 billion by 2030.
What is the current Carbon Accounting Market size?
In 2025, the Carbon Accounting Market size is expected to reach USD 21.96 billion.
Who are the key players in Carbon Accounting Market?
Greenly, International Business Machines Corporation, ENGIE Impact, Persefoni AI and Carbon Direct are the major companies operating in the Carbon Accounting Market.
Which is the fastest growing region in Carbon Accounting Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Carbon Accounting Market?
In 2025, the Europe accounts for the largest market share in Carbon Accounting Market.
What years does this Carbon Accounting Market cover, and what was the market size in 2024?
In 2024, the Carbon Accounting Market size was estimated at USD 15.52 billion. The report covers the Carbon Accounting Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Carbon Accounting Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Carbon Accounting Industry Report
Statistics for the 2025 Carbon Accounting market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Carbon Accounting analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
