United Kingdom (UK) Carbon Neutral Market: Industry Analysis and Forecast (2023-2029)
United Kingdom (UK) Carbon Neutral Market size was valued at US$ 1.92 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 3.3% through 2023 to 2029, reaching nearly US$ 2.41 Bn.
Format : PDF | Report ID : SMR_230
United Kingdom (UK) Carbon Neutral Market Overview:
Climate awareness is rapidly spreading over the globe. Environmental regulatory frameworks are being put in place, and social trends toward climate-friendly consumerism are beginning to emerge. Companies are seeking to reduce their carbon footprint aggressively in response to shifting stakeholder needs and demands for products and businesses, as well as government goals. As the transition to a carbon-neutral economy advances, utilities have the opportunity to play a critical role in lowering carbon emissions while also profiting from new economic opportunities.
Though market forecasting through 2027 is based on real output, demand and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all-important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lock down on the market in 2020 and 2021.
United Kingdom (UK) Carbon Neutral Market Dynamics:
The net zero strategy lays forth a plan to reduce emissions across many sectors in order to fulfill the sixth carbon budgets, which run from 2033 to 2037. The remaining emissions are offset by removing carbon from the atmosphere, either through tree planting or through removal technology such as carbon capture. The UK has stated that it would fully decarbonize its electricity industry by 2035 in order to reach carbon neutrality by 2050. It planned to invest £120 million ($166 million) in nuclear projects and to expand renewable energy, including 40 gigawatts of offshore wind.
Gas with carbon capture and storage, as well as increased hydrogen and biofuels generation, all play a role. The UK is investing £140 million ($193 million) to speed up industrial carbon capture and hydrogen production. Investments in electrification of vehicles and their supply chains, money for railways, buses, and cycling, and a target to make 10% of aviation fuels from domestic waste, flue gases from industry, and carbon collected from the atmosphere by 2030 are all part of the transportation policy. Nature will receive £124 million ($171 million) to help restore 280,000 hectares of peatland in England by 2050. According to the government, the initiative will generate up to 440,000 jobs and £90 billion ($124 billion) in private investment by 2030.
Over half of the UK's major companies have pledged to erase their carbon footprint by 2050, with a combined market capital of over £1.2 trillion and annual turnover of over £700 billion. With today's achievement, promises have more than tripled in the last ten months, confirming British firms' position as global leaders in the transition to a low-carbon economy. The UK government is calling on the worldwide commercial sector to follow the UK's lead and join the UN Race to Zero as the world meets at the UN COP26 climate summit. These are the key drivers that are expected to drives the growth of the United Kingdom (UK) Carbon Neutral Market during the forecast period 2021-2027.
United Kingdom (UK) Carbon Neutral Market Segment Analysis:
The United Kingdom (UK) 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 2021-2027. The United Kingdom leads the world in biodiesel production and transportation use. It is the most commonly used biofuels in the UK today, with over 14 million tonnes consumed each year. Biofuels offer the potential to hasten the EU's carbon-neutral transition. The European Union has begun a push to speed up its energy and climate laws in order to meet strong emissions-reduction goals by 2030 and increase its chances of becoming carbon-neutral by the middle of the century. These factors are expected to drive this segment of the United Kingdom (UK) Carbon Neutral market during the forecast period 2021-2027.
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 2027. Consumers, businesses, and utilities in the United Kingdom are developing and testing a variety of technologies that will allow both power users and power suppliers to become carbon-neutral. Individual consumers can now go "off the grid" by using their own renewable energy sources, while businesses and governments can employ these technologies to accomplish the same goal on a larger scale. The four types of technology used in sustainable energy generation, as well as their impact on customer choice and future business models for utility companies in United Kingdom, are energy efficiency technologies, generation technologies, grid technologies, and carbon sequestration. These are the key drivers that are expected to drives the growth of the energy and utilities vertical segment in the United Kingdom (UK) Carbon Neutral market during the forecast period 2021-2027.
The objective of the report is to present a comprehensive analysis of the United Kingdom (UK) Carbon Neutral Market to the stakeholders in the industry. The report provides trends that are most dominant in the United Kingdom (UK) 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 United Kingdom (UK) 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 United Kingdom (UK) 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 United Kingdom (UK) 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 United Kingdom (UK) 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 United Kingdom (UK) 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 United Kingdom (UK) Carbon Neutral Market is aided by legal factors.
United Kingdom (UK) Carbon Neutral Market Scope:
United Kingdom (UK) Carbon Neutral Market Scope
Market Size in 2022
USD 1.92 Bn.
Market Size in 2029
USD 2.41 Bn.
By Carbon Neutral Fuel
North America- United States, Canada, and Mexico
Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe
Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC
Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa
South America – Brazil, Argentina, Rest of South America
United Kingdom (UK) Carbon Neutral Market Key Players
- Carbon Neutral Britain (UK)
- Positive Planet (UK)
- Croda International (UK)
- SSE plc (UK)
- Enablon (France)
- SAP (Germany)
- Schneider Electric (France)
- ENGIE (France)
- Puragen Activated Carbon (France)
- Silcarbon Aktivkohle GmbH (Germany)
Frequently Asked Questions
The segments covered in United Kingdom (UK) Carbon Neutral Market report are based on Carbon Neutral Fuel, Vertical, and Component.
Energy and Utilities vertical segment hold the largest market share in the United Kingdom (UK) Carbon Neutral Market by 2029.
Carbon Neutral Britain (UK), Positive Planet (UK), Croda International (UK), and SSE plc (UK) are the top key players in the United Kingdom (UK) Carbon Neutral Market.
The market size of the United Kingdom (UK) Carbon Neutral market is expected to reach US $2.41 Bn. by 2029.
The market size of the United Kingdom (UK) Carbon Neutral market was worth US $1.92 Bn. in 2022.
Chapter 1 Scope of the Report
Chapter 2 Research Methodology
2.1. Research Process
2.2. United Kingdom (UK) Carbon Neutral Market: Target Audience
2.3. United Kingdom (UK) Carbon Neutral Market: Primary Research (As per Client Requirement)
2.4. United Kingdom (UK) Carbon Neutral Market: Secondary Research
Chapter 3 Executive Summary
Chapter 4 Competitive Landscape
4.1. Market Share Analysis, By United Kingdom (UK), 2022-2029(In %)
4.2. Market Dynamics
4.2.6.PORTERS Five Force Analysis
4.2.7.Value Chain Analysis
4.3. United Kingdom (UK) Carbon Neutral Market Segmentation Analysis, 2022-2029 (Value US$ MN)
4.3.1. United Kingdom (UK) Market Share Analysis, By Carbon Neutral Fuel, 2022-2029 (Value US$ MN)
4.3.2. United Kingdom (UK) Market Share Analysis, By Vertical, 2022-2029 (Value US$ MN)
126.96.36.199. Energy and Utilities
188.8.131.52. Residential and Commercial Buildings
184.108.40.206. Transportation and Logistics
220.127.116.11. IT and Telecom
4.3.3. United Kingdom (UK) Market Share Analysis, By Component, 2022-2029 (Value US$ MN)
Chapter 5 Stellar Competition Matrix
5.1. United Kingdom (UK) Stellar Competition Matrix
5.2. Key Players Benchmarking
5.2.1. Key Players Benchmarking By Product, Pricing, Market Share, Investments, Expansion Plans, Physical Presence and Presence in the Market.
5.3. Mergers and Acquisitions in Industry
5.3.1. M&A by Region, Value and Strategic Intent
Chapter 6 Company Profiles
6.1. Key Players
6.1.1. Carbon Neutral Britain (UK)
18.104.22.168. Company Overview
22.214.171.124. Source Portfolio
126.96.36.199. Financial Overview
188.8.131.52. Business Strategy
184.108.40.206. Key Developments
6.1.2.Positive Planet (UK)
6.1.3.Croda International (UK)
6.1.4.SSE plc (UK)
6.1.7.Schneider Electric (France)
6.1.9.Puragen Activated Carbon (France)
6.1.10.Silcarbon Aktivkohle GmbH (Germany)
6.2. Key Findings