Connect with us

Technology

Singapore Carbon Credit Market to Reach US$ 55.14 Million by 2030, Rising at a CAGR of 21% | Report by CoherentMI

Published

7 months ago

on

BURLINGAME, Calif., Feb. 16, 2024 /PRNewswire/ — CoherentMI published a report, titled, Singapore Carbon Credit Market was valued at US$ 14.5 Million in the year 2023 and is anticipated to reach US$ 55.14 Million by 2030, at a CAGR of 21% during forecast period 2023-2030.

Market Dynamics:

The Singapore government has taken significant initiatives to reduce carbon emissions in the country, which is expected to drive the growth of the carbon credit market in the region. The government has implemented the Carbon Pricing Act, which imposes a price on carbon emissions from industries. This act encourages companies to reduce their carbon footprint and adopt cleaner technologies. Additionally, the government has also launched the National Climate Change Strategy, which aims to reduce Singapore’s greenhouse gas emissions by 36% by 2030. These initiatives create a favorable environment for companies to invest in carbon credits, thereby driving the growth of the market.

Furthermore, the increasing awareness among businesses about the environmental impacts of their operations and the growing need to align with sustainable practices are also fueling the demand for carbon credits. By purchasing carbon credits, companies can offset their carbon emissions and contribute to environmental sustainability.

Singapore Carbon Credit Market Report Snapshot:

Report Coverage

Details

Study Period

2023 – 2030

Base Year of Estimation

2022

CAGR

21.0 %

Largest Market

Singapore

Market Concentration

High

Major Players

Climate Impact X, Carbon Credit Capital, Carbonbay, Southpole, Triple Oxygen and Among Others.

Segments Covered

By Project Type, By Trading Type, By End User

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Trends

• Mainstreaming of Carbon Credits and Trading
• Live Streaming Taking Off

Key Market Takeaways:

The Singapore Carbon Credit Market Size is anticipated to witness a CAGR of 21% during the forecast period 2023-2030, owing to the growing demand for renewable energy projects.On the basis of project type, the renewable energy segment is expected to hold a dominant position, owing to the increasing focus on clean energy generation and reducing carbon emissions. Additionally, over the counter trading is expected to dominate the market in terms of trading type, due to its flexibility and ease of use.On the basis of region, Singapore is expected to hold a dominant position over the forecast period. Singapore’s commitment to environmental sustainability and its efforts to promote carbon neutrality make it an ideal market for carbon credit trading.Key players operating in the Singapore Carbon Credit Market include Climate Impact X, Carbon Credit Capital, Carbonbay, Southpole, and Triple Oxygen. These players contribute to the market’s growth through their expertise and services in carbon credit trading. Their presence in the market strengthens the overall trading ecosystem and provides market participants with a variety of options for carbon credit trading.

Market Trends:

One of the key trends in the Singapore Carbon Credit Market is the growing adoption of carbon offset projects by businesses. Companies are investing in projects that aim to reduce carbon emissions or remove carbon dioxide from the atmosphere, such as renewable energy projects, afforestation programs, and energy efficiency initiatives. This trend is driven by the desire of businesses to demonstrate their commitment to sustainability and meet their corporate social responsibility goals.

Another trend in the market is the emergence of blockchain technology in the carbon credit market. Blockchain can provide a transparent and secure system for tracking and trading carbon credits. It enables verification of carbon emissions reductions and ensures the integrity and authenticity of carbon credits. This technology has the potential to streamline the carbon credit market and increase trust among participants.

Recent Developments 

In September 2022, Carbonbay announced the launch of its carbon trading and offsetting platform tailored for Asia Pacific markets. The platform enables organizations to buy carbon credits and helps develop regional offset projects.In November 2020, Carbon Credit Capital launched the world’s first regulated tokenized carbon credits called Carbon Tokens. Each token represents one carbon credit and can be traded on digital exchanges.

Read complete market research report, “Singapore Carbon Credit Market Size And Share Analysis – Growth Trends And Forecasts (2023 – 2030)“, Published by CoherentMI.

Market Opportunities:

Growing Demand for Renewable Energy Projects

The Singapore Carbon Credit Market is anticipated to witness a CAGR of 21% during the forecast period 2023-2030, owing to the growing demand for renewable energy projects. Renewable energy is expected to be the dominating segment in terms of project type, holding a dominant position. This can be attributed to the increasing awareness about climate change and the need to transition to cleaner energy sources. As Singapore aims to reduce its carbon footprint and promote renewable energy generation, there is a significant opportunity for carbon credit trading in this sector.

Rapid Development of Over the Counter Trading

Another market opportunity in the Singapore Carbon Credit Market is the rapid development of over the counter trading. Over the counter trading is expected to be the dominating trading type in the market. This can be attributed to its flexibility and ease of use, allowing participants to directly negotiate and trade carbon credits without the need for a centralized exchange. As a result, over the counter trading provides a more efficient and customized approach to carbon credit trading, leading to its growing popularity in the market.

In conclusion, the Singapore Carbon Credit Market presents significant market opportunities in the form of growing demand for renewable energy projects and the rapid development of over the counter trading. With Singapore’s commitment to environmental sustainability, the market is poised for growth in the coming years. Key players in the market play a crucial role in facilitating carbon credit trading and contributing to the market’s overall growth.

Singapore Carbon Credit Market Segmentation:

By Project TypeRenewable energyEnergy efficiencyWaste managementForestry and land useHousehold devicesFuel switchingOthersBy Trading TypeOver the counterExchange TradedMerchandiseProject BasedOthers (futures, options etc)By End UserCorporationsGovernmentsBroker & ExchangeProject DevelopersIndividualsOthers (NGOs, public sector agencies etc.)

Purchase this Exclusive report here: https://www.coherentmi.com/industry-reports/singapore-carbon-credit-market/buyNow

Top Questions Answered in this Report:

1.  What factors are impeding the growth of the Singapore Carbon Credit Market?

2.  What are the primary drivers fueling the growth of the Singapore Carbon Credit Market?

3.  Which segment dominates as the leading component in the Singapore Carbon Credit Market?

4.  Who are the key players actively participating in the Singapore Carbon Credit Market?

5.  Which region is expected to take the lead in the Singapore Carbon Credit Market?

6.  What is the projected CAGR of the Singapore Carbon Credit Market?

Find More Trending Reports Below:

Carbon Strips Market is Segmented By Product Type (Carbon Strip 10.0mm x 0.4mm x 1000mm, Carbon Strip 15.0mm x 4.0mm x 1000mm, and Carbon Strip 25.4mm x 0.8mm x 1000mm), By Application (Radio-Controlled (RC) Planes/Helicopters, Unmanned Air Vehicles (UAVs), Stunt/Power Kites, Robots, and Mechanical Control Mechanisms), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa). The report offers the value (in USD billion) for the above-mentioned segments.

Magnesium Rod Market is Segmented By Type (Purity 99%, Purity 99.9%, and Purity 99.99%), By Application (Heater, Gas Pipeline, Water Tank, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa). The report offers the value (in USD billion) for the above-mentioned segments.

Specality Cement Market is Segmented By Product (Single Axis, Dual Axis, and Azimuth-altitude dual axis), By Application (Utility, Commercial, and Residential), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa). The report offers the value (in USD billion) for the above-mentioned segments.

About Us:

At CoherentMI, we are a leading global market intelligence company dedicated to providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. Moreover, CoherentMI is a subsidiary of Coherent Market Insights Pvt Ltd., which is a market intelligence and consulting organization that helps businesses in critical business decisions. With our cutting-edge technology and experienced team of industry experts, we deliver actionable intelligence that helps our clients make informed decisions and stay ahead in today’s rapidly changing business landscape.

Contact Us:

Mr. Shah
Senior Client Partner – Business Development
CoherentMI
Phone:
U.S.: +1-206-701-6702
U.K: +44-020-8133-4027
JAPAN: +81-50-5539-1737
INDIA: +91-848-285-0837
Email: sales@coherentmi.com
Website: https://www.coherentmi.com

Logo: https://mma.prnewswire.com/media/902389/Coherent_Market_Insights_Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/singapore-carbon-credit-market-to-reach-us-55-14-million-by-2030–rising-at-a-cagr-of-21–report-by-coherentmi-302064012.html

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Keuka College Notifies Individuals of Data Security Incident

Published

58 mins ago

on

September 20, 2024

By

KEUKA PARK, N.Y., Sept. 20, 2024 /PRNewswire/ — Keuka College has learned of a data security incident that may have involved personal information.

On April 25, 2024, the College identified suspicious activity within its network environment and immediately took steps to secure the environment, restore its systems, and began an investigation to determine the nature and scope of the issue. Keuka College also engaged independent cybersecurity specialists to assist with the process. The comprehensive investigation, which concluded on August 21, 2024, could not determine definitively whether personal information related to current and former students and employees was affected.

Keuka College maintains a variety of records which can include: name, Social Security number, Driver’s license number, student id number, financial account information, and date of birth. Current students and employees were contacted by the College in May and provided with one year of free credit and identity monitoring services.

Keuka College has established a toll-free call center to answer questions about the incident and address related concerns. Call center representatives are available Monday through Friday from 9:00 am to 9:00 pm Eastern Time and can be reached at 1-833-913-7557. Please be prepared to provide the engagement number, B131983, for reference.

View original content:https://www.prnewswire.com/news-releases/keuka-college-notifies-individuals-of-data-security-incident-302254623.html

SOURCE Keuka College

Continue Reading

Technology

TeraBox Celebrates 2nd Anniversary of Its Massively Popular Referral Program

Published

58 mins ago

on

September 20, 2024

By

Continuously expanding webmaster signups, especially in multiple regions, along with new highs in webmaster payouts, has ensured the smooth operation and continuous development of the project.

TOKYO, Sept. 21, 2024 /PRNewswire/ — TeraBox (“TeraBox” or “the Company”), a globally trusted cloud storage service headquartered in Tokyo, recently celebrated the second anniversary of its hugely popular Referral Program, a testament to the smooth operation and continuous development of the project. The number of webmaster signups, including in multiple new regions, continued to increase steadily with webmaster payouts reaching new highs.

TeraBox reveals some of its impressive Referral Program data.

TeraBox’s total number of webmasters worldwide reached over one million.The highest daily income of webmasters reached over $10,000, with the top earner making nearly $180,000.The total number of shares by all webmasters exceeds 500 million.

The network of webmasters spans across the globe, including countries such as India, Indonesia, the United States, Latin America, Middle East, and South Korea. Moreover, as TeraBox’s influence continues to grow, the platform is excited to welcome many new webmasters from an expanding range of countries and regions.

TeraBox has achieved significant milestones, demonstrating its sustainable growth and increasing user impact. The journey started with the Webmaster Center launch in August 2022. Following this, several optimizations were implemented, including a self-withdrawal feature that simplified earnings management for webmasters and increased their engagement. Additionally, the Growth Analysis tool provided webmasters with valuable insights into their operational performance, enabling more effective decision-making.

As a result of these enhancements, both the number of participating webmasters and their earnings have seen remarkable increases. Looking ahead, the upcoming launch of the Webmaster App in September 2024 is set to further elevate user engagement and convenience, solidifying TeraBox’s position as an industry leader.

About TeraBox

TeraBox, developed by Flextech Inc. in Japan, is a leading global cloud storage solution. Headquartered in Tokyo, TeraBox proudly serves over 320 million users globally, providing an easy yet powerful way to store and manage data. With its generous 1TB of free storage, TeraBox ensures that your files are safe, secure, and accessible from anywhere. As a secure, reliable, and convenient service, TeraBox is certified with ISO 27001, ISO 27701, and ISO 27018, offering individual users around the world the opportunity to register for 1TB (1024GB) of free storage.

Photo – https://mma.prnewswire.com/media/2510913/image_5016964_39376930.jpg

View original content:https://www.prnewswire.co.uk/news-releases/terabox-celebrates-2nd-anniversary-of-its-massively-popular-referral-program-302254411.html

Continue Reading

Technology

Industrial Rack and Pinion Market to Grow by USD 998.6 Million (2024-2028), AI Redefining Market Landscape Amid Rising Demand for Machine Tools – Technavio

Published

2 hours ago

on

September 20, 2024

By

NEW YORK, Sept. 20, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global industrial rack and pinion market size is estimated to grow by USD 998.6 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 9.45%  during the forecast period. Growth of industrial manufacturing leading to increase in demand for machine tools is driving market growth, with a trend towards increasing demand for stairlifts in offices. However, availability of substitutes for rack and pinion systems  poses a challenge. Key market players include Apex Dynamics Inc., ATLANTA Antriebssysteme GmbH, B and B Manufacturing Inc., Commercial Gear and Sprocket Co. Inc., GAM Enterprises Inc., Gudel Group AG, HMK Automation Group Ltd., Kohara Gear Industry Co. Ltd., Lomar Machine and Tool Co., MIJNO PRECISION GEARING SAS, Nexen Group Inc., Nidec Corp., P R Components Pvt. Ltd., Pearl Engineers, REDEX Group, Reliance Precision Ltd., Sati SpA, Shri Butbhavani Engineering, Statewide Bearings, and Yuan Yi Chang Machinery Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Industrial Rack And Pinion Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.45%

Market growth 2024-2028

USD 998.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.41

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 41%

Key countries

China, US, Germany, India, and Canada

Key companies profiled

Apex Dynamics Inc., ATLANTA Antriebssysteme GmbH, B and B Manufacturing Inc., Commercial Gear and Sprocket Co. Inc., GAM Enterprises Inc., Gudel Group AG, HMK Automation Group Ltd., Kohara Gear Industry Co. Ltd., Lomar Machine and Tool Co., MIJNO PRECISION GEARING SAS, Nexen Group Inc., Nidec Corp., P R Components Pvt. Ltd., Pearl Engineers, REDEX Group, Reliance Precision Ltd., Sati SpA, Shri Butbhavani Engineering, Statewide Bearings, and Yuan Yi Chang Machinery Co. Ltd.

Market Driver

The industrial rack and pinion market is experiencing growth due to the increasing demand for stairlifts in commercial and industrial applications. Stairlifts are essential for employees who face difficulties climbing stairs in multi-level industrial facilities. Arthritis, joint stiffness, and injuries are common reasons for this challenge. While elevators are an option, not all industrial buildings have them, especially those with only a few floors above the ground level. Stairlifts offer a cost-effective solution for such facilities, enabling employees to access upper floors with ease. These devices utilize long pieces of straight and curved racks and large pinions, leading to an increased demand for rack and pinion systems in the industrial sector. As a result, the global industrial rack and pinion market is poised for growth during the forecast period. 

The Industrial Rack and Pinion Market is witnessing significant growth due to its extensive applications in various industries. Key sectors driving this market include machine tools, actuators, process industries, material handling, offices, and stairlifts. Rack and pinion systems offer precise rotary and linear motion, making them ideal for machine tools and actuators. In process industries, they are used in drive trains and condition monitoring systems for IoT applications. ZHY Gear, a leading industrial gear manufacturer, specializes in rack and pinion gears for diverse industries. Their zero backlash gearboxes are popular in wind turbine gearboxes, motor technology, and construction equipment. Furthermore, rack and pinion systems are used in power plants, oilfields, and offices for material handling and stairlifts. The integration of IoT technology in these systems enhances efficiency and productivity. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

The industrial rack and pinion market involves the production and sale of linear actuation mechanisms that convert rotary motion into linear motion. Rack and pinion systems are a common choice due to their ability to provide fast movement over long lengths without excessive vibration. However, alternatives such as ball screws and lead screws also exist, each with their unique advantages and disadvantages. Ball screw systems offer smooth and almost friction-free movement but can vibrate at high speeds and longer lengths. In contrast, rack and pinion systems have high friction and a risk of backlash if the pinion does not properly engage with the rack. Ultimately, the choice between these mechanisms depends on the specific requirements of end-users, with some preferring smooth and friction-free systems, while others prioritize high-speed operation. The presence of multiple substitutes and the varying needs of end-users may hinder the growth of the global industrial rack and pinion market during the forecast period.The Industrial Rack and Pinion Market caters to various industries such as power plants, oilfields, machine tools, process industries, material handling, offices, and more. Two primary types of motion – rotary and linear – are served by this market. Key applications include actuators, stairlifts, and industrial gear in wind turbine gearboxes. Challenges in this sector include ensuring zero backlash for precise motion control, integrating IoT and condition monitoring technologies, and catering to diverse industries like motor technology, drive trains, and construction equipment. Notable players in the market include ZHY Gear, addressing the needs of power plants, oilfields, and other sectors with their high-quality rack and pinion solutions.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This industrial rack and pinion market report extensively covers market segmentation by

Product 1.1 Machine tools1.2 Linear actuation and guideways1.3 Material handlingType 2.1 Alloy steel2.2 Carbon steel2.3 Stainless steel2.4 Aluminum alloy2.5 PlasticGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Machine tools-  The Industrial Rack and Pinion Market refers to the business sector that produces and sells rack and pinion systems for industrial applications. These systems consist of a rack, which is a flat bar with teeth, and a pinion, which is a gear that meshes with the rack. Rack and pinion systems are used in various industries, including material handling, automotive, and construction, to convert rotary motion into linear motion. The market for these systems is driven by factors such as increasing automation in industries and growing demand for efficient material handling solutions. Companies in this market offer customized solutions to meet specific industry requirements.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Industrial Rack and Pinion Market encompasses various industries including machine tools, actuators, process industries, material handling, stairlifts, offices, and more. Rack and pinion systems are essential components in these industries, providing rotary and linear motion solutions. They are used in machine tools for precise positioning and in actuators for industrial automation. In process industries, they are employed for valve actuation and pump drives. For material handling, they offer zero backlash and high torque for efficient conveyor systems. In the construction industry, rack and pinion systems are used in cranes and hoists. In the realm of renewable energy, they are integral to wind turbine gearboxes. Motor technology and drive trains also utilize rack and pinion systems for efficient power transmission. IoT and condition monitoring systems enhance the performance and reliability of rack and pinion applications. Industrial gear manufacturers like ZHY Gear produce high-quality rack and pinion systems for diverse industries.

Market Research Overview

The Industrial Rack and Pinion Market encompasses various industries and applications, including machine tools, actuators, process industries, material handling, stairlifts, offices, and more. Rack and pinion systems provide rotary and linear motion solutions, essential in industries that require precise and efficient power transmission. These systems are integral to machine tools for accurate positioning and movement. In material handling, they power conveyor belts and other automated systems. Actuators, such as those used in process industries, rely on rack and pinion for precise control and zero backlash. The market also caters to IoT and condition monitoring systems, enhancing industrial gear efficiency and performance. ZHY Gear, a leading manufacturer, offers rack and pinion solutions for diverse applications, from wind turbine gearboxes to motor technology and drive trains. Construction equipment, power plants, oilfields, and various other industries benefit from the reliability of rack and pinion systems.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductMachine ToolsLinear Actuation And GuidewaysMaterial HandlingTypeAlloy SteelCarbon SteelStainless SteelAluminum AlloyPlasticGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/industrial-rack-and-pinion-market-to-grow-by-usd-998-6-million-2024-2028-ai-redefining-market-landscape-amid-rising-demand-for-machine-tools—technavio-302254218.html

SOURCE Technavio

Continue Reading

Trending