Direct Air Capture Market by Technology (Solid-DAC (S-DAC), Liquid-DAC (L-DAC), Electrochemical-DAC (E-DAC)), Source, Application (Carbon Capture and Storage (CCS), Carbon Capture, Utilization, and Storage) Region - Global Forecast to 2030
The global direct air capture market is estimated to grow from USD 62 Million in 2023 to USD 1,727 Million by 2030; it is expected to record a CAGR of 60.9% during the forecast period. The Growing global awareness of the urgent need to mitigate climate change, supportive government policies and incentives drives the direct air capture market.
“Liquid-DAC: The largest segment of the direct air capture market, by technology “
Based on technology, the direct air capture market has been segmented into Solid-DAC (S-DAC), Liquid-DAC(L-DAC), Electrochemical-DAC (E-DAC), and others. The Liquid-DAC segment is expected to be the largest segment during the forecast period. The liquid solvents utilized in liquid-DAC have a higher CO2 capture capacity per unit of volume. Liquid-DAC is also a less energy-intensive technology compared to other technologies like Solid-DAC (S-DAC).
“Carbon Capture, Utilization, and Storage (CCUS) is expected to be the largest segment during the forecast period based on application.”
By application, the direct air capture market has been split into two types: carbon capture, and storage (CCS) and carbon capture, utilization, and storage. The carbon capture, and storage (CCS) segment is expected to hold the largest market share during the forecast period. Carbon mineralization involves the enduring removal of carbon dioxide by converting it into a solid mineral form, typically a carbonate, through a chemical reaction with specific rocks. A notable advantage of carbon mineralization lies in its capacity to securely sequester carbon, effectively preventing its re-release into the atmosphere.
“By source , electricity segment is expected to be the fastest growing segment during the forecast period.”
Based on the Source, the direct air capture market is segmented into electricity, and heat. The electricity segment is expected to be the fastest growing segment of the direct air capture market during the forecast period. Wind and solar rank as the second and the third largest power technologies. In 2022, electricity generated from solar PV has witnessed a 21% increase compared to the year 2021. Likewise, power generation from wind is forecasted to double its capacity by 2030 as compared to the year 2022.
With the increase in wind and solar based power generation capacity, the electricity segment is expected to grow.
“North America is expected to be the largest region in the direct air capture market.”
North America is expected to be the largest region in the direct air capture market during the forecast period. Growth is attributed to the supportive policies energy in the region. For example, Department of Energy (DOE) has allocated USD 3.5 billion for the establishment of four large-scale Direct Air Capture (DAC) hubs. Furthermore, The United States leads the world in generation of geothermal electricity. As of 2022, geothermal power plants were operational in seven states across the country, contributing approximately 0.4% (17 billion kilowatthours) to the total electricity generated at the U.S. utility scale.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Designation: C-Level- 35%, Director Level- 20%, and Others- 45%
By Region: North America- 45%, Europe- 40%, and RoW – 15%,
Note: Others include sales managers, engineers, and regional managers.
The direct air capture market is dominated by a few major players that have a wide regional presence. The leading players in the direct air capture market are Climeworks (Switzerland), Carbon Engineering ULC. (Canada), Global Thermostat (US), Hierloom Carbon Technologies (US), and Skytree (Netherlands). The major strategy adopted by the players includes new product launches, partnerships, collaboration, merger, and investments & expansions.
Research Coverage:
The report defines, describes, and forecasts the global direct air capture market by technology, source, application and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in thedirect air capture market.
Key Benefits of Buying the Report
“Liquid-DAC: The largest segment of the direct air capture market, by technology “
Based on technology, the direct air capture market has been segmented into Solid-DAC (S-DAC), Liquid-DAC(L-DAC), Electrochemical-DAC (E-DAC), and others. The Liquid-DAC segment is expected to be the largest segment during the forecast period. The liquid solvents utilized in liquid-DAC have a higher CO2 capture capacity per unit of volume. Liquid-DAC is also a less energy-intensive technology compared to other technologies like Solid-DAC (S-DAC).
“Carbon Capture, Utilization, and Storage (CCUS) is expected to be the largest segment during the forecast period based on application.”
By application, the direct air capture market has been split into two types: carbon capture, and storage (CCS) and carbon capture, utilization, and storage. The carbon capture, and storage (CCS) segment is expected to hold the largest market share during the forecast period. Carbon mineralization involves the enduring removal of carbon dioxide by converting it into a solid mineral form, typically a carbonate, through a chemical reaction with specific rocks. A notable advantage of carbon mineralization lies in its capacity to securely sequester carbon, effectively preventing its re-release into the atmosphere.
“By source , electricity segment is expected to be the fastest growing segment during the forecast period.”
Based on the Source, the direct air capture market is segmented into electricity, and heat. The electricity segment is expected to be the fastest growing segment of the direct air capture market during the forecast period. Wind and solar rank as the second and the third largest power technologies. In 2022, electricity generated from solar PV has witnessed a 21% increase compared to the year 2021. Likewise, power generation from wind is forecasted to double its capacity by 2030 as compared to the year 2022.
With the increase in wind and solar based power generation capacity, the electricity segment is expected to grow.
“North America is expected to be the largest region in the direct air capture market.”
North America is expected to be the largest region in the direct air capture market during the forecast period. Growth is attributed to the supportive policies energy in the region. For example, Department of Energy (DOE) has allocated USD 3.5 billion for the establishment of four large-scale Direct Air Capture (DAC) hubs. Furthermore, The United States leads the world in generation of geothermal electricity. As of 2022, geothermal power plants were operational in seven states across the country, contributing approximately 0.4% (17 billion kilowatthours) to the total electricity generated at the U.S. utility scale.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Designation: C-Level- 35%, Director Level- 20%, and Others- 45%
By Region: North America- 45%, Europe- 40%, and RoW – 15%,
Note: Others include sales managers, engineers, and regional managers.
The direct air capture market is dominated by a few major players that have a wide regional presence. The leading players in the direct air capture market are Climeworks (Switzerland), Carbon Engineering ULC. (Canada), Global Thermostat (US), Hierloom Carbon Technologies (US), and Skytree (Netherlands). The major strategy adopted by the players includes new product launches, partnerships, collaboration, merger, and investments & expansions.
Research Coverage:
The report defines, describes, and forecasts the global direct air capture market by technology, source, application and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in thedirect air capture market.
Key Benefits of Buying the Report
- Increasing emphasis on net zero emission and supportive government policies are few of the key factors driving the direct air capture market. Factors such as energy intensity of direct air capture systems restrain the growth of the market. The growing energy transition towards reducing carbon emission is expected to present lucrative opportunities for the players operating in the direct air capture market. The limited infrastructure poses a major challenge for the players, especially for emerging players operating in the direct air capture market.
- Product Development/ Innovation: The direct air capture market is witnessing significant product development and innovation, driven by the growing demand for environmentally friendly, safe and sustainable products. Companies are investing in developing advanced direct air capture technologies such as membrane-based technology.
- Market Development: Carbon Engineering and Air Canada, airline of Canada signed Memorandum of Understanding (MOU) to investigate commercial prospects related to sustainable aviation fuel, carbon removal, and decarbonization technology.
- Market Diversification: Skytree launched the Skytree Cumulus, the company’s inaugural Direct Air Capture (DAC) modular unit. Skytree Cumulus collects CO2 from the surrounding atmosphere, providing indoor farmers and greenhouse cultivators access to it for food, algae, vaccine, and flower production.
1 INTRODUCTION
1.1 MARKET DEFINITION
1.1.1 INCLUSIONS AND EXCLUSIONS
1.2 STUDY SCOPE
1.2.1 MARKETS COVERED
FIGURE 1 DIRECT AIR CAPTURE MARKET SEGMENTATION
1.2.2 REGIONAL SCOPE
1.2.3 YEARS CONSIDERED
1.2.4 CURRENCY CONSIDERED
1.2.5 UNITS CONSIDERED
1.3 LIMITATIONS
1.4 STAKEHOLDERS
1.5 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 DIRECT AIR CAPTURE MARKET: RESEARCH DESIGN
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 3 DATA TRIANGULATION
2.2.1 SECONDARY DATA
2.2.1.1 List of major secondary sources
2.2.1.2 Key data from secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 List of primary interview participants
2.2.2.2 Insights from primary sources
2.2.2.3 Breakdown of primaries
2.3 MARKET SIZE ESTIMATION
2.3.1 BOTTOM-UP APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4 DEMAND-SIDE ANALYSIS
FIGURE 6 MAIN METRICS CONSIDERED TO ANALYZE DEMAND FOR DIRECT AIR CAPTURE SYSTEMS
2.4.1 REGIONAL ANALYSIS
2.4.2 ASSUMPTIONS OR DEMAND-SIDE ANALYSIS
2.4.3 CALCULATIONS FOR DEMAND-SIDE ANALYSIS
2.5 SUPPLY-SIDE ANALYSIS
2.5.1 ASSUMPTIONS FOR SUPPLY-SIDE ANALYSIS
2.5.2 CALCULATIONS FOR SUPPLY-SIDE ANALYSIS
FIGURE 7 INDUSTRY CONCENTRATION, 2022
2.6 FORECAST
2.7 RESEARCH LIMITATIONS
2.8 RISK ASSESSMENT
2.9 IMPACT OF RECESSION
3 EXECUTIVE SUMMARY
TABLE 1 DIRECT AIR CAPTURE MARKET SNAPSHOT
FIGURE 8 NORTH AMERICA HELD LARGEST SHARE OF DIRECT AIR CAPTURE MARKET IN 2022
FIGURE 9 LIQUID DAC SEGMENT TO LEAD DIRECT AIR CAPTURE MARKET IN 2030
FIGURE 10 ELECTRICITY SEGMENT TO HOLD LARGER SHARE OF DIRECT AIR CAPTURE MARKET IN 2030
FIGURE 11 CARBON CAPTURE AND STORAGE SEGMENT TO DOMINATE DIRECT AIR CAPTURE MARKET IN 2030
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN DIRECT AIR CAPTURE MARKET
FIGURE 12 GROWING NEED FOR CO2 IN ENHANCED OIL RECOVERY PROCESS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS
4.2 DIRECT AIR CAPTURE MARKET, BY REGION
FIGURE 13 EUROPEAN DIRECT AIR CAPTURE MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
4.3 DIRECT AIR CAPTURE MARKET, BY TECHNOLOGY
FIGURE 14 LIQUID DAC SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030
4.4 DIRECT AIR CAPTURE MARKET, BY ENERGY SOURCE
FIGURE 15 ELECTRICITY SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2030
4.5 DIRECT AIR CAPTURE MARKET, BY APPLICATION
FIGURE 16 CARBON CAPTURE AND STORAGE SEGMENT TO HOLD LARGER MARKET SHARE IN 2030
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 17 DIRECT AIR CAPTURE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Rising emphasis on achieving net-zero emission targets
FIGURE 18 GLOBAL CO2 EMISSION FROM ENERGY COMBUSTION AND INDUSTRIAL PROCESSES, 2012–2022
5.2.1.2 Escalating adoption of CO2 in enhanced oil recovery process
5.2.1.3 Increasing investment in carbon capture and sequestration technologies
5.2.2 RESTRAINTS
5.2.2.1 Limited network of carbon capture pipelines and storage capacity
5.2.2.2 High cost of carbon separation process
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing research on different DAC techniques
5.2.3.2 Rising focus on establishing large-scale DAC facilities
5.2.4 CHALLENGES
5.2.4.1 High energy consumption by DAC facilities
FIGURE 19 ENERGY REQUIREMENTS FOR SOLID DAC AND LIQUID DAC TECHNOLOGIES, 2023
5.2.4.2 Availability of alternate carbon capture technologies
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
FIGURE 20 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.4 PRICING ANALYSIS
5.4.1 INDICATIVE PRICING ANALYSIS OF DIRECT AIR CAPTURE TECHNOLOGY
TABLE 2 INDICATIVE PRICING ANALYSIS OF DIRECT AIR CAPTURE TECHNOLOGY, 2021–2030 (USD/TON)
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 21 DIRECT AIR CAPTURE MARKET: SUPPLY CHAIN ANALYSIS
5.5.1 RAW MATERIAL SUPPLIERS
5.5.2 COMPONENT MANUFACTURERS/ASSEMBLERS
5.5.3 DISTRIBUTORS/END USERS
5.6 ECOSYSTEM/MARKET MAP
FIGURE 22 DIRECT AIR CAPTURE MARKET MAPPING
TABLE 3 ROLE OF COMPANIES IN DIRECT AIR CAPTURE ECOSYSTEM
FIGURE 23 COMPANIES IN DIRECT AIR CAPTURE ECOSYSTEM
5.7 REGULATORY LANDSCAPE
5.7.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 4 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 5 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 6 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.7.2 REGULATIONS
5.7.2.1 North America
5.7.2.2 Europe
5.7.2.3 RoW
5.8 PATENT ANALYSIS
FIGURE 24 DIRECT AIR CAPTURE MARKET: PATENTS APPLIED AND GRANTED, 2012–2022
TABLE 7 DIRECT AIR CAPTURE MARKET: LIST OF MAJOR PATENTS, 2018–2022
5.9 CASE STUDY ANALYSIS
5.9.1 GROWY ADOPTED SKYTREE’S COMPACT DAC TECHNOLOGY TO INCREASE SUSTAINABILITY OF VERTICAL FARMING OPERATIONS
5.9.2 ZBT INSTALLED SOLETAIR POWER’S OUTDOOR DAC SYSTEM TO ENABLE EFFICIENT CARBON CAPTURE AND UTILIZATION
5.10 TECHNOLOGY ANALYSIS
5.10.1 SOLID DAC
5.10.2 LIQUID DAC
5.10.3 MEMBRANE-BASED DAC
5.10.4 ELECTROCHEMICAL DAC
5.10.5 OPERATING TEMPERATURE OF DAC
5.11 KEY CONFERENCES AND EVENTS, 2023–2024
TABLE 8 DIRECT AIR CAPTURE MARKET: LIST OF CONFERENCES AND EVENTS, 2023–2024
5.12 TRADE ANALYSIS
5.12.1 EXPORT SCENARIO
TABLE 9 EXPORT DATA FOR HS CODE 281121-COMPLIANT CARBON DIOXIDE, BY COUNTRY, 2020–2022 (USD THOUSAND)
FIGURE 25 EXPORT DATA FOR HS CODE 2881121-COMPLIANT CARBON DIOXIDE, BY COUNTRY, 2020–2022 (USD THOUSAND)
5.12.2 IMPORT SCENARIO
TABLE 10 IMPORT DATA FOR HS CODE 281121-COMPLIANT CARBON DIOXIDE, BY COUNTRY, 2020–2022 (USD THOUSAND)
FIGURE 26 IMPORT DATA FOR HS CODE 281121-COMPLIANT CARBON DIOXIDE, BY COUNTRY, 2020–2022 (USD THOUSAND)
5.13 PORTER’S FIVE FORCES ANALYSIS
FIGURE 27 DIRECT AIR CAPTURE MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 11 DIRECT AIR CAPTURE MARKET: PORTER’S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 28 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
TABLE 12 DIRECT AIR CAPTURE MARKET: INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION (%)
5.14.2 BUYING CRITERIA
FIGURE 29 KEY BUYING CRITERIA, BY APPLICATION
TABLE 13 DIRECT AIR CAPTURE MARKET: KEY BUYING CRITERIA, BY APPLICATION
6 DIRECT AIR CAPTURE MARKET, BY TECHNOLOGY
6.1 INTRODUCTION
FIGURE 30 DIRECT AIR CAPTURE MARKET, BY TECHNOLOGY, 2022
TABLE 14 DIRECT AIR CAPTURE MARKET, BY TECHNOLOGY, 2021–2030 (USD MILLION)
6.2 SOLID DAC
6.2.1 HIGH SUSTAINABILITY OF SOLID DAC TECHNOLOGY TO DRIVE DEMAND
6.3 LIQUID DAC
6.3.1 EXTENDED CAPTURE CAPACITY OF LIQUID DAC TO FUEL DEMAND
6.4 ELECTROCHEMICAL DAC
6.4.1 HIGH ENERGY EFFICIENCY ASSOCIATED WITH ELECTROCHEMICAL DAC IN CAPTURING CO2 TO DRIVE DEMAND
6.5 OTHERS
7 DIRECT AIR CAPTURE MARKET, BY ENERGY SOURCE
7.1 INTRODUCTION
FIGURE 31 DIRECT AIR CAPTURE MARKET, BY ENERGY SOURCE, 2022
TABLE 15 DIRECT AIR CAPTURE MARKET, BY ENERGY SOURCE, 2021–2030 (USD MILLION)
7.2 ELECTRICITY
7.2.1 RISING DEMAND FOR ELECTROCHEMICAL DAC TECHNOLOGY TO DRIVE MARKET
7.2.2 GEOTHERMAL
7.2.3 SOLAR PV
7.2.4 WIND
7.3 HEAT
7.3.1 INCREASING REQUIREMENT FOR HEAT IN REGENERATION OF SORBENTS TO DRIVE MARKET
7.3.2 HEAT PUMP
7.3.3 DIRECT HEAT
7.3.4 WASTE HEAT
8 DIRECT AIR CAPTURE MARKET, BY APPLICATION
8.1 INTRODUCTION
FIGURE 32 DIRECT AIR CAPTURE MARKET, BY APPLICATION, 2022
TABLE 16 DIRECT AIR CAPTURE MARKET, BY APPLICATION, 2023–2030 (USD MILLION)
8.2 CARBON CAPTURE AND STORAGE
8.2.1 IMPLEMENTATION OF SUPPORTIVE GREENHOUSE EMISSION REDUCTION ACTS AND SUBSIDIES TO STORE CO2 TO DRIVE MARKET
8.3 CARBON CAPTURE, UTILIZATION, AND STORAGE
8.3.1 GROWING DEMAND FOR SYNTHETIC FUELS AND GREEN FERTILIZERS TO DRIVE MARKET
FIGURE 33 GLOBAL CO2 EMISSIONS FROM TRANSPORTATION SECTOR, BY APPLICATION, 2012–2022
9 END-USER INDUSTRIES OF CO2 CAPTURED BY DIRECT AIR CAPTURE (DAC) TECHNOLOGY
9.1 INTRODUCTION
9.2 AGRICULTURE
9.2.1 GROWING POPULATION TO DRIVE DEMAND
9.3 CHEMICALS & FUELS
9.3.1 INCREASING DEMAND FOR SYNTHETIC FUELS TO DRIVE MARKET
9.4 CARBON MINERALIZATION
9.4.1 GROWING FOCUS ON INSTALLING LARGE-SCALE DAC PLANTS TO DRIVE MARKET
9.5 FOOD & BEVERAGES
9.5.1 INCREASING DEMAND FOR BEVERAGES AND FROZEN FOOD PRODUCTS TO FUEL MARKET GROWTH
9.6 OIL & GAS
9.6.1 GROWING NEED FOR ENHANCED OIL RECOVERY (EOR) TO DRIVE MARKET
9.7 OTHER END-USER INDUSTRIES
10 DIRECT AIR CAPTURE MARKET, BY REGION
10.1 INTRODUCTION
FIGURE 34 EUROPE TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
FIGURE 35 DIRECT AIR CAPTURE MARKET, BY REGION, 2022
TABLE 17 DIRECT AIR CAPTURE MARKET, BY REGION, 2021–2030 (KILO TONS)
TABLE 18 DIRECT AIR CAPTURE MARKET, BY REGION, 2021–2030 (USD MILLION)
10.2 NORTH AMERICA
10.2.1 NORTH AMERICAN DIRECT AIR CAPTURE MARKET: RECESSION IMPACT
FIGURE 36 NORTH AMERICA: DIRECT AIR CAPTURE MARKET SNAPSHOT
10.2.2 NORTH AMERICA: KEY DAC PROJECTS
TABLE 19 KEY DAC PROJECTS IN NORTH AMERICA
10.2.3 BY COUNTRY
10.2.3.1 US
10.2.3.1.1 Supportive government policies and incentive schemes to drive market
10.2.3.1.2 US: Macro factors
TABLE 20 US: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 21 US: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.2.3.2 Canada
10.2.3.2.1 Increasing requirement for E-fuels to boost demand
10.2.3.2.2 Canada: Macro factors
TABLE 22 CANADA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 23 CANADA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.3 EUROPE
10.3.1 EUROPEAN DIRECT AIR CAPTURE MARKET: RECESSION IMPACT
FIGURE 37 EUROPE: DIRECT AIR CAPTURE MARKET SNAPSHOT
10.3.2 EUROPE: KEY DAC PROJECTS
TABLE 24 KEY DAC PROJECTS IN EUROPE
10.3.3 BY COUNTRY
10.3.3.1 UK
10.3.3.1.1 Increasing emphasis on achieving net zero emission target to drive market
10.3.3.1.2 UK: Macro factors
TABLE 25 UK: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 26 UK: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.3.3.2 Switzerland
10.3.3.2.1 Presence of leading DAC technology providers to boost market growth
10.3.3.2.2 Switzerland: Macro factors
TABLE 27 SWITZERLAND: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 28 SWITZERLAND: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.3.3.3 Iceland
10.3.3.3.1 Abundant availability of renewable energy sources to drive market
10.3.3.3.2 Iceland: Macro factors
TABLE 29 ICELAND: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 30 ICELAND: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.3.3.4 Netherlands
10.3.3.4.1 Presence of large number of vertical farming facilities to drive market
10.3.3.4.2 Netherlands: Macro factors
TABLE 31 NETHERLANDS: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 32 NETHERLANDS: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.3.3.5 Rest of Europe
10.4 ROW
10.4.1 ROW DIRECT AIR CAPTURE MARKET: RECESSION IMPACT
TABLE 33 ROW: DIRECT AIR CAPTURE MARKET, BY REGION, 2021–2030 (USD MILLION)
10.4.2 ROW: KEY DAC PROJECTS
TABLE 34 KEY DAC PROJECTS IN ROW
10.4.3 MIDDLE EAST & AFRICA
10.4.3.1 By country
10.4.3.1.1 Saudi Arabia
10.4.3.1.1.1 Growing use of CO2 for enhanced oil recovery (EOR) to fuel demand
10.4.3.1.1.2 Saudi Arabia: Macro factors
TABLE 35 SAUDI ARABIA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 36 SAUDI ARABIA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.3.1.2 UAE
10.4.3.1.2.1 Rising use of CO2 in oil production to drive demand
10.4.3.1.2.2 UAE: Macro factors
TABLE 37 UAE: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 38 UAE: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.3.1.3 Israel
10.4.3.1.3.1 Increased R&D for carbon capture technology to drive market
10.4.3.1.3.2 Israel: Macro factors
TABLE 39 ISRAEL: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 40 ISRAEL: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.3.1.4 Kenya
10.4.3.1.4.1 Large presence of renewable energy resources to boost market growth
10.4.3.1.4.2 Kenya: Macro factors
TABLE 41 KENYA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 42 KENYA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.3.1.5 South Africa
10.4.3.1.5.1 Rising deployment of DAC technology in coal-fired power plants to drive market
10.4.3.1.5.2 South Africa: Macro factors
TABLE 43 SOUTH AFRICA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 44 SOUTH AFRICA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.4 ASIA PACIFIC
10.4.4.1 By country
10.4.4.1.1 Australia
10.4.4.1.1.1 Rising need for new technologies to reduce CO2 emissions to drive market
10.4.4.1.1.2 Australia: Macro factors
TABLE 45 AUSTRALIA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 46 AUSTRALIA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.4.1.2 China
10.4.4.1.2.1 Collaboration of government with several companies and organizations to drive market growth
10.4.4.1.2.2 China: Macro factors
TABLE 47 CHINA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 48 CHINA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.4.1.3 Japan
10.4.4.1.3.1 Collaborations with other Southeast Asian Countries for increasing CO2 storage to boost market growth
10.4.4.1.4 Japan: Macro factors
TABLE 49 JAPAN: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 50 JAPAN: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.5 SOUTH AMERICA
10.4.5.1 By country
10.4.5.1.1 Brazil
10.4.5.1.1.1 Government-led initiatives for development of carbon capture, utilization, and storage technology to boost market growth
10.4.5.1.1.2 Brazil: Macro factors
TABLE 51 BRAZIL: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 52 BRAZIL: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.5.1.2 Chile
10.4.5.1.2.1 Government-led measures to reduce carbon emissions from chemicals industry to drive market
10.4.5.1.2.2 Chile: Macro factors
TABLE 53 CHILE: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 54 CHILE: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE 2018–2022 (MW)
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023
TABLE 55 DIRECT AIR CAPTURE MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023
11.3 MARKET SHARE ANALYSIS, 2022
FIGURE 38 DIRECT AIR CAPTURE MARKET SHARE ANALYSIS, 2022
11.4 MARKET EVALUATION FRAMEWORK, 2019–2023
TABLE 56 DIRECT AIR CAPTURE MARKET EVALUATION FRAMEWORK, 2019–2023
11.5 COMPANY EVALUATION MATRIX, 2022
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE PLAYERS
11.5.4 PARTICIPANTS
FIGURE 39 DIRECT AIR CAPTURE MARKET: COMPANY EVALUATION MATRIX, 2022
11.5.5 COMPANY FOOTPRINT
11.5.5.1 Technology footprint
TABLE 57 COMPANY TECHNOLOGY FOOTPRINT (4 KEY PLAYERS)
11.5.5.2 Energy source footprint
TABLE 58 COMPANY ENERGY SOURCE FOOTPRINT (4 KEY PLAYERS)
TABLE 59 COMPANY ENERGY SOURCE FOOTPRINT
11.5.5.3 Regional footprint
TABLE 60 COMPANY REGION FOOTPRINT (4 KEY PLAYERS)
11.5.5.4 Overall footprint
FIGURE 40 OVERALL COMPANY FOOTPRINT (4 KEY PLAYERS)
11.6 START-UP/SME EVALUATION MATRIX, 2022
11.6.1 PROGRESSIVE COMPANIES
11.6.2 RESPONSIVE COMPANIES
11.6.3 DYNAMIC COMPANIES
11.6.4 STARTING BLOCKS
FIGURE 41 DIRECT AIR CAPTURE MARKET: START-UP/SME EVALUATION MATRIX, 2022
11.6.5 COMPETITIVE BENCHMARKING
11.6.5.1 List of key start-ups/SMEs
TABLE 61 DIRECT AIR CAPTURE MARKET: LIST OF KEY START-UPS/SMES
11.6.5.2 Competitive benchmarking of start-ups/SMEs
TABLE 62 DIRECT AIR CAPTURE MARKET: COMPETITIVE BENCHMARKING OF START-UPS/SMES
11.7 COMPETITIVE SCENARIOS AND TRENDS
11.7.1 PRODUCT LAUNCHES
TABLE 63 DIRECT AIR CAPTURE MARKET: PRODUCT LAUNCHES, SEPTEMBER 2023
11.7.2 DEALS
TABLE 64 DIRECT AIR CAPTURE MARKET: DEALS, MAY 2019–OCTOBER 2023
11.7.3 EXPANSIONS
TABLE 65 DIRECT AIR CAPTURE MARKET: EXPANSIONS, OCTOBER 2019–JUNE 2023
11.7.4 OTHERS
TABLE 66 DIRECT AIR CAPTURE MARKET: OTHERS, JANUARY 2019–NOVEMBER 2022
12 COMPANY PROFILES
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*
12.1 KEY PLAYERS
12.1.1 CLIMEWORKS
TABLE 67 CLIMEWORKS: COMPANY OVERVIEW
TABLE 68 CLIMEWORKS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 69 CLIMEWORKS: DEALS
TABLE 70 CLIMEWORKS: OTHERS
12.1.2 CARBON ENGINEERING ULC.
TABLE 71 CARBON ENGINEERING ULC.: COMPANY OVERVIEW
TABLE 72 CARBON ENGINEERING ULC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 73 CARBON ENGINEERING ULC.: DEALS
TABLE 74 CARBON ENGINEERING ULC.: OTHERS
12.1.3 GLOBAL THERMOSTAT
TABLE 75 GLOBAL THERMOSTAT: COMPANY OVERVIEW
TABLE 76 GLOBAL THERMOSTAT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 77 GLOBAL THERMOSTAT: DEALS
TABLE 78 GLOBAL THERMOSTAT: OTHERS
12.1.4 HEIRLOOM CARBON TECHNOLOGIES
TABLE 79 HEIRLOOM CARBON TECHNOLOGIES: COMPANY OVERVIEW
TABLE 80 HEIRLOOM CARBON TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 81 HEIRLOOM CARBON TECHNOLOGIES: DEALS
TABLE 82 HEIRLOOM CARBON TECHNOLOGIES: OTHERS
12.1.5 SOLETAIR POWER
TABLE 83 SOLETAIR POWER: COMPANY OVERVIEW
TABLE 84 SOLETAIR POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 85 SOLETAIR POWER: DEALS
TABLE 86 SOLETAIR POWER: OTHERS
12.1.6 CARBONCAPTURE INC.
TABLE 87 CARBONCAPTURE INC.: COMPANY OVERVIEW
TABLE 88 CARBONCAPTURE INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 89 CARBONCAPTURE INC.: DEALS
TABLE 90 CARBONCAPTURE INC.: OTHERS
12.1.7 AVNOS, INC.
TABLE 91 AVNOS, INC.: COMPANY OVERVIEW
TABLE 92 AVNOS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 93 AVNOS, INC.: OTHERS
12.1.8 NOYA PBC
TABLE 94 NOYA PBC: COMPANY OVERVIEW
TABLE 95 NOYA PBC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 96 NOYA PBC: DEALS
12.1.9 SKYTREE
TABLE 97 SKYTREE: COMPANY OVERVIEW
TABLE 98 SKYTREE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 99 SKYTREE: PRODUCT LAUNCHES
TABLE 100 SKYTREE: DEALS
12.1.10 REPAIR CARBON
TABLE 101 REPAIR: COMPANY OVERVIEW
TABLE 102 REPAIR CARBON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
12.1.11 MISSION ZERO TECHNOLOGIES
TABLE 103 MISSION ZERO TECHNOLOGIES: COMPANY OVERVIEW
TABLE 104 MISSION ZERO TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 105 MISSION ZERO TECHNOLOGIES: DEALS
12.1.12 CARBYON
TABLE 106 CARBYON: COMPANY OVERVIEW
TABLE 107 CARBYON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 108 CARBYON: DEALS
12.1.13 OCTAVIA CARBON
TABLE 109 OCTAVIA CARBON: COMPANY OVERVIEW
TABLE 110 OCTAVIA CARBON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 111 OCTAVIA CARBON: DEALS
12.1.14 CAPTURE6
TABLE 112 CAPTURE6: COMPANY OVERVIEW
TABLE 113 CAPTURE6: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 114 CAPTURE6: DEALS
12.1.15 SUSTAERA INC.
TABLE 115 SUSTAERA INC.: COMPANY OVERVIEW
TABLE 116 SUSTAERA INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 117 SUSTAERA INC.: DEALS
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
12.2 OTHER PLAYERS
12.2.1 SPIRITUS
12.2.2 INFINITREE LLC
12.2.3 MOSAIC MATERIALS INC.
12.2.4 CARBON COLLECT LIMITED
12.2.5 IMMATERIAL
12.2.6 SOUTHERN GREEN GAS LIMITED
13 APPENDIX
13.1 INSIGHTS FROM INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 CUSTOMIZATION OPTIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
1.1 MARKET DEFINITION
1.1.1 INCLUSIONS AND EXCLUSIONS
1.2 STUDY SCOPE
1.2.1 MARKETS COVERED
FIGURE 1 DIRECT AIR CAPTURE MARKET SEGMENTATION
1.2.2 REGIONAL SCOPE
1.2.3 YEARS CONSIDERED
1.2.4 CURRENCY CONSIDERED
1.2.5 UNITS CONSIDERED
1.3 LIMITATIONS
1.4 STAKEHOLDERS
1.5 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 DIRECT AIR CAPTURE MARKET: RESEARCH DESIGN
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 3 DATA TRIANGULATION
2.2.1 SECONDARY DATA
2.2.1.1 List of major secondary sources
2.2.1.2 Key data from secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 List of primary interview participants
2.2.2.2 Insights from primary sources
2.2.2.3 Breakdown of primaries
2.3 MARKET SIZE ESTIMATION
2.3.1 BOTTOM-UP APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4 DEMAND-SIDE ANALYSIS
FIGURE 6 MAIN METRICS CONSIDERED TO ANALYZE DEMAND FOR DIRECT AIR CAPTURE SYSTEMS
2.4.1 REGIONAL ANALYSIS
2.4.2 ASSUMPTIONS OR DEMAND-SIDE ANALYSIS
2.4.3 CALCULATIONS FOR DEMAND-SIDE ANALYSIS
2.5 SUPPLY-SIDE ANALYSIS
2.5.1 ASSUMPTIONS FOR SUPPLY-SIDE ANALYSIS
2.5.2 CALCULATIONS FOR SUPPLY-SIDE ANALYSIS
FIGURE 7 INDUSTRY CONCENTRATION, 2022
2.6 FORECAST
2.7 RESEARCH LIMITATIONS
2.8 RISK ASSESSMENT
2.9 IMPACT OF RECESSION
3 EXECUTIVE SUMMARY
TABLE 1 DIRECT AIR CAPTURE MARKET SNAPSHOT
FIGURE 8 NORTH AMERICA HELD LARGEST SHARE OF DIRECT AIR CAPTURE MARKET IN 2022
FIGURE 9 LIQUID DAC SEGMENT TO LEAD DIRECT AIR CAPTURE MARKET IN 2030
FIGURE 10 ELECTRICITY SEGMENT TO HOLD LARGER SHARE OF DIRECT AIR CAPTURE MARKET IN 2030
FIGURE 11 CARBON CAPTURE AND STORAGE SEGMENT TO DOMINATE DIRECT AIR CAPTURE MARKET IN 2030
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN DIRECT AIR CAPTURE MARKET
FIGURE 12 GROWING NEED FOR CO2 IN ENHANCED OIL RECOVERY PROCESS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS
4.2 DIRECT AIR CAPTURE MARKET, BY REGION
FIGURE 13 EUROPEAN DIRECT AIR CAPTURE MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
4.3 DIRECT AIR CAPTURE MARKET, BY TECHNOLOGY
FIGURE 14 LIQUID DAC SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030
4.4 DIRECT AIR CAPTURE MARKET, BY ENERGY SOURCE
FIGURE 15 ELECTRICITY SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2030
4.5 DIRECT AIR CAPTURE MARKET, BY APPLICATION
FIGURE 16 CARBON CAPTURE AND STORAGE SEGMENT TO HOLD LARGER MARKET SHARE IN 2030
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 17 DIRECT AIR CAPTURE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Rising emphasis on achieving net-zero emission targets
FIGURE 18 GLOBAL CO2 EMISSION FROM ENERGY COMBUSTION AND INDUSTRIAL PROCESSES, 2012–2022
5.2.1.2 Escalating adoption of CO2 in enhanced oil recovery process
5.2.1.3 Increasing investment in carbon capture and sequestration technologies
5.2.2 RESTRAINTS
5.2.2.1 Limited network of carbon capture pipelines and storage capacity
5.2.2.2 High cost of carbon separation process
5.2.3 OPPORTUNITIES
5.2.3.1 Increasing research on different DAC techniques
5.2.3.2 Rising focus on establishing large-scale DAC facilities
5.2.4 CHALLENGES
5.2.4.1 High energy consumption by DAC facilities
FIGURE 19 ENERGY REQUIREMENTS FOR SOLID DAC AND LIQUID DAC TECHNOLOGIES, 2023
5.2.4.2 Availability of alternate carbon capture technologies
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
FIGURE 20 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.4 PRICING ANALYSIS
5.4.1 INDICATIVE PRICING ANALYSIS OF DIRECT AIR CAPTURE TECHNOLOGY
TABLE 2 INDICATIVE PRICING ANALYSIS OF DIRECT AIR CAPTURE TECHNOLOGY, 2021–2030 (USD/TON)
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 21 DIRECT AIR CAPTURE MARKET: SUPPLY CHAIN ANALYSIS
5.5.1 RAW MATERIAL SUPPLIERS
5.5.2 COMPONENT MANUFACTURERS/ASSEMBLERS
5.5.3 DISTRIBUTORS/END USERS
5.6 ECOSYSTEM/MARKET MAP
FIGURE 22 DIRECT AIR CAPTURE MARKET MAPPING
TABLE 3 ROLE OF COMPANIES IN DIRECT AIR CAPTURE ECOSYSTEM
FIGURE 23 COMPANIES IN DIRECT AIR CAPTURE ECOSYSTEM
5.7 REGULATORY LANDSCAPE
5.7.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 4 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 5 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 6 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.7.2 REGULATIONS
5.7.2.1 North America
5.7.2.2 Europe
5.7.2.3 RoW
5.8 PATENT ANALYSIS
FIGURE 24 DIRECT AIR CAPTURE MARKET: PATENTS APPLIED AND GRANTED, 2012–2022
TABLE 7 DIRECT AIR CAPTURE MARKET: LIST OF MAJOR PATENTS, 2018–2022
5.9 CASE STUDY ANALYSIS
5.9.1 GROWY ADOPTED SKYTREE’S COMPACT DAC TECHNOLOGY TO INCREASE SUSTAINABILITY OF VERTICAL FARMING OPERATIONS
5.9.2 ZBT INSTALLED SOLETAIR POWER’S OUTDOOR DAC SYSTEM TO ENABLE EFFICIENT CARBON CAPTURE AND UTILIZATION
5.10 TECHNOLOGY ANALYSIS
5.10.1 SOLID DAC
5.10.2 LIQUID DAC
5.10.3 MEMBRANE-BASED DAC
5.10.4 ELECTROCHEMICAL DAC
5.10.5 OPERATING TEMPERATURE OF DAC
5.11 KEY CONFERENCES AND EVENTS, 2023–2024
TABLE 8 DIRECT AIR CAPTURE MARKET: LIST OF CONFERENCES AND EVENTS, 2023–2024
5.12 TRADE ANALYSIS
5.12.1 EXPORT SCENARIO
TABLE 9 EXPORT DATA FOR HS CODE 281121-COMPLIANT CARBON DIOXIDE, BY COUNTRY, 2020–2022 (USD THOUSAND)
FIGURE 25 EXPORT DATA FOR HS CODE 2881121-COMPLIANT CARBON DIOXIDE, BY COUNTRY, 2020–2022 (USD THOUSAND)
5.12.2 IMPORT SCENARIO
TABLE 10 IMPORT DATA FOR HS CODE 281121-COMPLIANT CARBON DIOXIDE, BY COUNTRY, 2020–2022 (USD THOUSAND)
FIGURE 26 IMPORT DATA FOR HS CODE 281121-COMPLIANT CARBON DIOXIDE, BY COUNTRY, 2020–2022 (USD THOUSAND)
5.13 PORTER’S FIVE FORCES ANALYSIS
FIGURE 27 DIRECT AIR CAPTURE MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 11 DIRECT AIR CAPTURE MARKET: PORTER’S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 28 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
TABLE 12 DIRECT AIR CAPTURE MARKET: INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION (%)
5.14.2 BUYING CRITERIA
FIGURE 29 KEY BUYING CRITERIA, BY APPLICATION
TABLE 13 DIRECT AIR CAPTURE MARKET: KEY BUYING CRITERIA, BY APPLICATION
6 DIRECT AIR CAPTURE MARKET, BY TECHNOLOGY
6.1 INTRODUCTION
FIGURE 30 DIRECT AIR CAPTURE MARKET, BY TECHNOLOGY, 2022
TABLE 14 DIRECT AIR CAPTURE MARKET, BY TECHNOLOGY, 2021–2030 (USD MILLION)
6.2 SOLID DAC
6.2.1 HIGH SUSTAINABILITY OF SOLID DAC TECHNOLOGY TO DRIVE DEMAND
6.3 LIQUID DAC
6.3.1 EXTENDED CAPTURE CAPACITY OF LIQUID DAC TO FUEL DEMAND
6.4 ELECTROCHEMICAL DAC
6.4.1 HIGH ENERGY EFFICIENCY ASSOCIATED WITH ELECTROCHEMICAL DAC IN CAPTURING CO2 TO DRIVE DEMAND
6.5 OTHERS
7 DIRECT AIR CAPTURE MARKET, BY ENERGY SOURCE
7.1 INTRODUCTION
FIGURE 31 DIRECT AIR CAPTURE MARKET, BY ENERGY SOURCE, 2022
TABLE 15 DIRECT AIR CAPTURE MARKET, BY ENERGY SOURCE, 2021–2030 (USD MILLION)
7.2 ELECTRICITY
7.2.1 RISING DEMAND FOR ELECTROCHEMICAL DAC TECHNOLOGY TO DRIVE MARKET
7.2.2 GEOTHERMAL
7.2.3 SOLAR PV
7.2.4 WIND
7.3 HEAT
7.3.1 INCREASING REQUIREMENT FOR HEAT IN REGENERATION OF SORBENTS TO DRIVE MARKET
7.3.2 HEAT PUMP
7.3.3 DIRECT HEAT
7.3.4 WASTE HEAT
8 DIRECT AIR CAPTURE MARKET, BY APPLICATION
8.1 INTRODUCTION
FIGURE 32 DIRECT AIR CAPTURE MARKET, BY APPLICATION, 2022
TABLE 16 DIRECT AIR CAPTURE MARKET, BY APPLICATION, 2023–2030 (USD MILLION)
8.2 CARBON CAPTURE AND STORAGE
8.2.1 IMPLEMENTATION OF SUPPORTIVE GREENHOUSE EMISSION REDUCTION ACTS AND SUBSIDIES TO STORE CO2 TO DRIVE MARKET
8.3 CARBON CAPTURE, UTILIZATION, AND STORAGE
8.3.1 GROWING DEMAND FOR SYNTHETIC FUELS AND GREEN FERTILIZERS TO DRIVE MARKET
FIGURE 33 GLOBAL CO2 EMISSIONS FROM TRANSPORTATION SECTOR, BY APPLICATION, 2012–2022
9 END-USER INDUSTRIES OF CO2 CAPTURED BY DIRECT AIR CAPTURE (DAC) TECHNOLOGY
9.1 INTRODUCTION
9.2 AGRICULTURE
9.2.1 GROWING POPULATION TO DRIVE DEMAND
9.3 CHEMICALS & FUELS
9.3.1 INCREASING DEMAND FOR SYNTHETIC FUELS TO DRIVE MARKET
9.4 CARBON MINERALIZATION
9.4.1 GROWING FOCUS ON INSTALLING LARGE-SCALE DAC PLANTS TO DRIVE MARKET
9.5 FOOD & BEVERAGES
9.5.1 INCREASING DEMAND FOR BEVERAGES AND FROZEN FOOD PRODUCTS TO FUEL MARKET GROWTH
9.6 OIL & GAS
9.6.1 GROWING NEED FOR ENHANCED OIL RECOVERY (EOR) TO DRIVE MARKET
9.7 OTHER END-USER INDUSTRIES
10 DIRECT AIR CAPTURE MARKET, BY REGION
10.1 INTRODUCTION
FIGURE 34 EUROPE TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
FIGURE 35 DIRECT AIR CAPTURE MARKET, BY REGION, 2022
TABLE 17 DIRECT AIR CAPTURE MARKET, BY REGION, 2021–2030 (KILO TONS)
TABLE 18 DIRECT AIR CAPTURE MARKET, BY REGION, 2021–2030 (USD MILLION)
10.2 NORTH AMERICA
10.2.1 NORTH AMERICAN DIRECT AIR CAPTURE MARKET: RECESSION IMPACT
FIGURE 36 NORTH AMERICA: DIRECT AIR CAPTURE MARKET SNAPSHOT
10.2.2 NORTH AMERICA: KEY DAC PROJECTS
TABLE 19 KEY DAC PROJECTS IN NORTH AMERICA
10.2.3 BY COUNTRY
10.2.3.1 US
10.2.3.1.1 Supportive government policies and incentive schemes to drive market
10.2.3.1.2 US: Macro factors
TABLE 20 US: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 21 US: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.2.3.2 Canada
10.2.3.2.1 Increasing requirement for E-fuels to boost demand
10.2.3.2.2 Canada: Macro factors
TABLE 22 CANADA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 23 CANADA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.3 EUROPE
10.3.1 EUROPEAN DIRECT AIR CAPTURE MARKET: RECESSION IMPACT
FIGURE 37 EUROPE: DIRECT AIR CAPTURE MARKET SNAPSHOT
10.3.2 EUROPE: KEY DAC PROJECTS
TABLE 24 KEY DAC PROJECTS IN EUROPE
10.3.3 BY COUNTRY
10.3.3.1 UK
10.3.3.1.1 Increasing emphasis on achieving net zero emission target to drive market
10.3.3.1.2 UK: Macro factors
TABLE 25 UK: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 26 UK: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.3.3.2 Switzerland
10.3.3.2.1 Presence of leading DAC technology providers to boost market growth
10.3.3.2.2 Switzerland: Macro factors
TABLE 27 SWITZERLAND: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 28 SWITZERLAND: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.3.3.3 Iceland
10.3.3.3.1 Abundant availability of renewable energy sources to drive market
10.3.3.3.2 Iceland: Macro factors
TABLE 29 ICELAND: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 30 ICELAND: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.3.3.4 Netherlands
10.3.3.4.1 Presence of large number of vertical farming facilities to drive market
10.3.3.4.2 Netherlands: Macro factors
TABLE 31 NETHERLANDS: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 32 NETHERLANDS: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.3.3.5 Rest of Europe
10.4 ROW
10.4.1 ROW DIRECT AIR CAPTURE MARKET: RECESSION IMPACT
TABLE 33 ROW: DIRECT AIR CAPTURE MARKET, BY REGION, 2021–2030 (USD MILLION)
10.4.2 ROW: KEY DAC PROJECTS
TABLE 34 KEY DAC PROJECTS IN ROW
10.4.3 MIDDLE EAST & AFRICA
10.4.3.1 By country
10.4.3.1.1 Saudi Arabia
10.4.3.1.1.1 Growing use of CO2 for enhanced oil recovery (EOR) to fuel demand
10.4.3.1.1.2 Saudi Arabia: Macro factors
TABLE 35 SAUDI ARABIA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 36 SAUDI ARABIA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.3.1.2 UAE
10.4.3.1.2.1 Rising use of CO2 in oil production to drive demand
10.4.3.1.2.2 UAE: Macro factors
TABLE 37 UAE: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 38 UAE: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.3.1.3 Israel
10.4.3.1.3.1 Increased R&D for carbon capture technology to drive market
10.4.3.1.3.2 Israel: Macro factors
TABLE 39 ISRAEL: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 40 ISRAEL: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.3.1.4 Kenya
10.4.3.1.4.1 Large presence of renewable energy resources to boost market growth
10.4.3.1.4.2 Kenya: Macro factors
TABLE 41 KENYA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 42 KENYA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.3.1.5 South Africa
10.4.3.1.5.1 Rising deployment of DAC technology in coal-fired power plants to drive market
10.4.3.1.5.2 South Africa: Macro factors
TABLE 43 SOUTH AFRICA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 44 SOUTH AFRICA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.4 ASIA PACIFIC
10.4.4.1 By country
10.4.4.1.1 Australia
10.4.4.1.1.1 Rising need for new technologies to reduce CO2 emissions to drive market
10.4.4.1.1.2 Australia: Macro factors
TABLE 45 AUSTRALIA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 46 AUSTRALIA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.4.1.2 China
10.4.4.1.2.1 Collaboration of government with several companies and organizations to drive market growth
10.4.4.1.2.2 China: Macro factors
TABLE 47 CHINA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 48 CHINA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.4.1.3 Japan
10.4.4.1.3.1 Collaborations with other Southeast Asian Countries for increasing CO2 storage to boost market growth
10.4.4.1.4 Japan: Macro factors
TABLE 49 JAPAN: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 50 JAPAN: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.5 SOUTH AMERICA
10.4.5.1 By country
10.4.5.1.1 Brazil
10.4.5.1.1.1 Government-led initiatives for development of carbon capture, utilization, and storage technology to boost market growth
10.4.5.1.1.2 Brazil: Macro factors
TABLE 51 BRAZIL: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 52 BRAZIL: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
10.4.5.1.2 Chile
10.4.5.1.2.1 Government-led measures to reduce carbon emissions from chemicals industry to drive market
10.4.5.1.2.2 Chile: Macro factors
TABLE 53 CHILE: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 54 CHILE: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE 2018–2022 (MW)
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023
TABLE 55 DIRECT AIR CAPTURE MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023
11.3 MARKET SHARE ANALYSIS, 2022
FIGURE 38 DIRECT AIR CAPTURE MARKET SHARE ANALYSIS, 2022
11.4 MARKET EVALUATION FRAMEWORK, 2019–2023
TABLE 56 DIRECT AIR CAPTURE MARKET EVALUATION FRAMEWORK, 2019–2023
11.5 COMPANY EVALUATION MATRIX, 2022
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE PLAYERS
11.5.4 PARTICIPANTS
FIGURE 39 DIRECT AIR CAPTURE MARKET: COMPANY EVALUATION MATRIX, 2022
11.5.5 COMPANY FOOTPRINT
11.5.5.1 Technology footprint
TABLE 57 COMPANY TECHNOLOGY FOOTPRINT (4 KEY PLAYERS)
11.5.5.2 Energy source footprint
TABLE 58 COMPANY ENERGY SOURCE FOOTPRINT (4 KEY PLAYERS)
TABLE 59 COMPANY ENERGY SOURCE FOOTPRINT
11.5.5.3 Regional footprint
TABLE 60 COMPANY REGION FOOTPRINT (4 KEY PLAYERS)
11.5.5.4 Overall footprint
FIGURE 40 OVERALL COMPANY FOOTPRINT (4 KEY PLAYERS)
11.6 START-UP/SME EVALUATION MATRIX, 2022
11.6.1 PROGRESSIVE COMPANIES
11.6.2 RESPONSIVE COMPANIES
11.6.3 DYNAMIC COMPANIES
11.6.4 STARTING BLOCKS
FIGURE 41 DIRECT AIR CAPTURE MARKET: START-UP/SME EVALUATION MATRIX, 2022
11.6.5 COMPETITIVE BENCHMARKING
11.6.5.1 List of key start-ups/SMEs
TABLE 61 DIRECT AIR CAPTURE MARKET: LIST OF KEY START-UPS/SMES
11.6.5.2 Competitive benchmarking of start-ups/SMEs
TABLE 62 DIRECT AIR CAPTURE MARKET: COMPETITIVE BENCHMARKING OF START-UPS/SMES
11.7 COMPETITIVE SCENARIOS AND TRENDS
11.7.1 PRODUCT LAUNCHES
TABLE 63 DIRECT AIR CAPTURE MARKET: PRODUCT LAUNCHES, SEPTEMBER 2023
11.7.2 DEALS
TABLE 64 DIRECT AIR CAPTURE MARKET: DEALS, MAY 2019–OCTOBER 2023
11.7.3 EXPANSIONS
TABLE 65 DIRECT AIR CAPTURE MARKET: EXPANSIONS, OCTOBER 2019–JUNE 2023
11.7.4 OTHERS
TABLE 66 DIRECT AIR CAPTURE MARKET: OTHERS, JANUARY 2019–NOVEMBER 2022
12 COMPANY PROFILES
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*
12.1 KEY PLAYERS
12.1.1 CLIMEWORKS
TABLE 67 CLIMEWORKS: COMPANY OVERVIEW
TABLE 68 CLIMEWORKS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 69 CLIMEWORKS: DEALS
TABLE 70 CLIMEWORKS: OTHERS
12.1.2 CARBON ENGINEERING ULC.
TABLE 71 CARBON ENGINEERING ULC.: COMPANY OVERVIEW
TABLE 72 CARBON ENGINEERING ULC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 73 CARBON ENGINEERING ULC.: DEALS
TABLE 74 CARBON ENGINEERING ULC.: OTHERS
12.1.3 GLOBAL THERMOSTAT
TABLE 75 GLOBAL THERMOSTAT: COMPANY OVERVIEW
TABLE 76 GLOBAL THERMOSTAT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 77 GLOBAL THERMOSTAT: DEALS
TABLE 78 GLOBAL THERMOSTAT: OTHERS
12.1.4 HEIRLOOM CARBON TECHNOLOGIES
TABLE 79 HEIRLOOM CARBON TECHNOLOGIES: COMPANY OVERVIEW
TABLE 80 HEIRLOOM CARBON TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 81 HEIRLOOM CARBON TECHNOLOGIES: DEALS
TABLE 82 HEIRLOOM CARBON TECHNOLOGIES: OTHERS
12.1.5 SOLETAIR POWER
TABLE 83 SOLETAIR POWER: COMPANY OVERVIEW
TABLE 84 SOLETAIR POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 85 SOLETAIR POWER: DEALS
TABLE 86 SOLETAIR POWER: OTHERS
12.1.6 CARBONCAPTURE INC.
TABLE 87 CARBONCAPTURE INC.: COMPANY OVERVIEW
TABLE 88 CARBONCAPTURE INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 89 CARBONCAPTURE INC.: DEALS
TABLE 90 CARBONCAPTURE INC.: OTHERS
12.1.7 AVNOS, INC.
TABLE 91 AVNOS, INC.: COMPANY OVERVIEW
TABLE 92 AVNOS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 93 AVNOS, INC.: OTHERS
12.1.8 NOYA PBC
TABLE 94 NOYA PBC: COMPANY OVERVIEW
TABLE 95 NOYA PBC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 96 NOYA PBC: DEALS
12.1.9 SKYTREE
TABLE 97 SKYTREE: COMPANY OVERVIEW
TABLE 98 SKYTREE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 99 SKYTREE: PRODUCT LAUNCHES
TABLE 100 SKYTREE: DEALS
12.1.10 REPAIR CARBON
TABLE 101 REPAIR: COMPANY OVERVIEW
TABLE 102 REPAIR CARBON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
12.1.11 MISSION ZERO TECHNOLOGIES
TABLE 103 MISSION ZERO TECHNOLOGIES: COMPANY OVERVIEW
TABLE 104 MISSION ZERO TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 105 MISSION ZERO TECHNOLOGIES: DEALS
12.1.12 CARBYON
TABLE 106 CARBYON: COMPANY OVERVIEW
TABLE 107 CARBYON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 108 CARBYON: DEALS
12.1.13 OCTAVIA CARBON
TABLE 109 OCTAVIA CARBON: COMPANY OVERVIEW
TABLE 110 OCTAVIA CARBON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 111 OCTAVIA CARBON: DEALS
12.1.14 CAPTURE6
TABLE 112 CAPTURE6: COMPANY OVERVIEW
TABLE 113 CAPTURE6: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 114 CAPTURE6: DEALS
12.1.15 SUSTAERA INC.
TABLE 115 SUSTAERA INC.: COMPANY OVERVIEW
TABLE 116 SUSTAERA INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 117 SUSTAERA INC.: DEALS
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
12.2 OTHER PLAYERS
12.2.1 SPIRITUS
12.2.2 INFINITREE LLC
12.2.3 MOSAIC MATERIALS INC.
12.2.4 CARBON COLLECT LIMITED
12.2.5 IMMATERIAL
12.2.6 SOUTHERN GREEN GAS LIMITED
13 APPENDIX
13.1 INSIGHTS FROM INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 CUSTOMIZATION OPTIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
