Europe Carbon Neutral Market: Industry Analysis and Forecast (2023-2029)

Europe Carbon Neutral Market Overview:

A state of carbon neutrality is one in which no carbon dioxide is emitted. It will be able to achieve this by reducing or eliminating society's carbon dioxide emissions, or by balancing emissions with removals. Carbon neutrality is determined by a number of things. Pollution is minimised, and people's health is enhanced. Long-term economic growth and green job creation are boosted. Reducing climate change's impact on food security. Companies that achieve carbon neutrality fund the most cost-effective options for reducing emissions in the atmosphere. Companies can demonstrate their commitment to being carbon neutral as part of larger corporate coalitions campaigning for enhanced targets and climate ambition by becoming carbon neutral.

Though market forecasting through 2029 is based on real output, demand and supply of 2022, 2022 numbers are also estimated on real numbers published by key players as well all-important players across the world. Market forecasting till 2029 is done based on past data from 2017 to 2021 with the impact of global lock down on the market in 2022 and 2023.

Europe Carbon Neutral Market Dynamics:

The European Green Deal (EGD) has been proposed as a mission to make Europe the world's first carbon-neutral continent by 2050, while also strengthening European integration. With Chinese ambitions to peak carbon emissions in 2030 and establish carbon neutrality no later than 2060, the European Commission's proposal to cut greenhouse gas (GHG) emissions by at least 55 percent by 2030 has gained geopolitical clout (UN, 2020).

A European climate policy aiming for carbon neutrality by 2050 can only succeed if it transforms the economy to a new development path with widespread social and political backing from the start. This implies that it must be accompanied by demonstrable improvements in living standards for all European residents, regardless of geography or social group. Based on a body of studies on how climate policy might spur a shift to a new growth path.

People in European society prefer to conduct business with socially and ecologically concerned companies. Allowing employees to work toward carbon-neutral solutions encourages them to think outside the box when developing new products and services, which leads to increased income. One of the most important aspects of becoming carbon-neutral is to use renewable energy solutions as a power source. Electricity costs are significant for all businesses, especially large-scale commercial and industrial operations like manufacturing, office buildings, hospitality operations like restaurants and hotels, and retail. These are the various key factors that are expected to boost the growth of the Europe Carbon Neutral Market during the forecast period 2021-2027.

Europe Carbon Neutral Market Segment Analysis:

The Europe Carbon Neutral Market is segmented by Carbon Neutral Fuel, Vertical, and Component.

Based on the Carbon Neutral Fuel, the market is segmented into Biodiesel, Bio-ethanol, Bio-butanol, and others. Biodiesel segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. The Europe is the world leader in biodiesel production and use for transportation. With over 14 million tonnes consumed each year, it is the most frequently utilised biofuel in Europe today. Biofuels have the potential to accelerate the EU's transition to carbon neutrality. The European Union has initiated a drive to accelerate its energy and climate legislation in order to reach aggressive emissions-reduction objectives by 2030 and improve its chances of achieving carbon-neutrality by the middle of the century. These are the major benefits that are expected to drives the growth of this segment in the Europe Carbon Neutral market during the forecast period 2023-2029.

Based on the Vertical, the market is segmented into Manufacturing, Energy and Utilities, Residential and Commercial Buildings, Transportation and Logistics, IT and Telecom, and others. Energy and Utilities segment is expected to hold the largest market shares of xx% by 2029. In Europe, consumers, businesses, and utilities are creating and early adopting a number of technologies that will enable both power users and power suppliers to become carbon-neutral. Individual customers can now go "off the grid" with their own renewable energy sources, while enterprises and governments can use these technologies to achieve the same aim on a bigger scale. Energy efficiency technologies, generation technologies, grid technologies, and carbon sequestration are the four types of technology utilised in sustainable energy generation, as well as their impact on customer choice and future business models for utility companies in Europe. These are the key major drivers that are expected to drives the growth of the energy and utilities segment in the Europe Carbon Neutral market during the forecast period.

Europe Carbon Neutral Market Country wise Insights:

In Europe, Sweden is expected to dominate the Europe Carbon Neutral market during the forecast period 2021-2027. Sweden is expected to hold the largest market shares of xx% by 2029. Sweden committed to becoming a net-zero carbon emitter by 2045 in 2017, moving forward its initial schedule for carbon neutrality by five years. Sweden's low emission levels are due primarily to the country's reliance on sustainable energy sources. Hydroelectric and nuclear power, as well as wind power, provide the majority of Sweden's electricity. Renewable energy sources now account for more than 60% of total energy use.

Sweden has the highest carbon price in the world, at $137 per tonne, and is a leader in renewable energy consumption. According to World Bank data, its carbon emissions per person in 2018 were 3.5 tonne, far below the European Union average of 6.4 tonne. According to a report by sustainability investment firm Sustainalytics, Sweden is the world's most sustainable country, owing to its use of renewable energy sources and low carbon dioxide emissions. These are the various key factors that are expected to drives the growth of the Sweden in the Europe Carbon Neutral market during the forecast period.

United Kingdom (UK) is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. The carbon footprint of cars in the UK varies significantly depending on the type of vehicle and the type of gasoline used. In 2022, luxury vehicles had the greatest carbon footprint of all vehicle classes, with those powered by gasoline emitting 325 grams of CO2 per kilometre (g CO2e per km). Diesel-powered premium automobiles, on the other hand, emitted around 211g CO2e per km. Petrol cars, on average, have a higher carbon footprint than diesel ones. Battery electric vehicles (BEVs) emit significantly fewer emissions than their fossil fuel-powered counterparts in each market segment. Trains, local buses, and coaches, with the exception of BEVs, have the lowest carbon footprint in the UK.

The objective of the report is to present a comprehensive analysis of the Europe Carbon Neutral Market to the stakeholders in the industry. The report provides trends that are most dominant in the Europe Carbon Neutral Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Europe Carbon Neutral Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Europe Carbon Neutral Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Europe Carbon Neutral Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Europe Carbon Neutral Market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Europe Carbon Neutral Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Europe Carbon Neutral Market is aided by legal factors.

Europe Carbon Neutral Market Scope:

Europe Carbon Neutral Market Key Players

• Enablon (France)
• SAP (Germany)
• Schneider Electric (France)
• ENGIE (France)
• Puragen Activated Carbon (France)
• Silcarbon Aktivkohle GmbH (Germany)
• Carbon Neutral Britain (UK)
• Positive Planet (UK)
• Croda International (UK)
• SSE plc (UK)