Direct Air Carbon Capture Technology Market to reach USD 6.86 Bn by 2029, Technological Advancements and Growth Opportunities

Pune 04, May 2023: The global Direct Air Carbon Capture Technology market is expected to reach a market value of USD 3.19 Bn in 2021 to USD 6.86 Bn by 2029, growing at a CAGR of 10.05 percent during the forecast period of 2022-2029.

Direct Air Carbon Capture Technology Market Report Scope and Research Methodology

Direct air carbon capture is a technique that captures CO2 from the atmosphere and purifies it for storage or usage. The use of direct air capture technology has a substantial impact on world CO2 levels. With the increasing need for energy, a variety of industrial processes release carbon dioxide and other greenhouse gases into the atmosphere, causing irreversible effects such as climate change and ozone depletion.

The report covers the market trends from 2017 to forecast the market through 2029, with 2021 being the base year. The effect of the COVID-19 pandemic on the market is also analyzed. Special attention is given to the effect of the pandemic on the demand and supply of the market, and the impact of lockdown for the next two years.

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Direct Air Carbon Capture Technology Market Dynamics

Capturing CO2 from the atmosphere through direct air capture is currently expensive. CO2 in the atmosphere is significantly less concentrated than flue gas from a power plant or a cement factory, resulting in higher energy requirements and costs for DAC technology. Only small direct air capture plants are operational today, but scale-up is imminent. A joint venture between Carbon Engineering and Occidental Petroleum is developing the first large-scale DAC facility in the United States, expected to absorb up to 1 million tonnes of CO2 per year and might be operating as early as 2024.

Direct air capture is receiving increased attention and support from both the commercial and public sectors. Companies like Microsoft, Stripe, Shopify, and Swiss Re have purchased future DAC removal to offset their CO2 emissions, increasing the voluntary market for DAC-based capturing of CO2.X-Prize and Breakthrough Energy's Catalyst Program have provided additional assistance for DAC. Climeworks raised the largest-ever DAC investment of USD 110 Mn in 2021, making private investment rounds.

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Direct Air Carbon Capture Technology Market Regional Insights

The report also provides regional insights into the Direct Air Carbon Capture Technology market. North America and Europe are the largest markets for DAC technology, with significant investments in research and development in these regions.

Direct Air Carbon Capture Technology Market Segmentation

By Number of Collectors

• Less than 10 collectors
• More than 10 collectors

By Application:

• Enhance Oil Recovery (EOR)
• Industrial
• Agriculture
• Other

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Direct Air Carbon Capture Technology Market Key Competitors include:

• Infinitree LLC
• Synhelion SA
• National Energy Technology Laboratory
• Global Thermostat LLC
• Soletair Power Oy
• Oak Ridge National Laboratory
• Climeworks AG
• Skytree
• Carbon Engineering Ltd.
• Sunfire GmbH
• Others

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Table of Content for Direct Air Carbon Capture Technology Market

Global Direct Air Carbon Capture Technology Market: Research Methodology

Global Direct Air Carbon Capture Technology Market: Executive Summary

Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry

Global Direct Air Carbon Capture Technology Market: Competitive Analysis

MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact

Global Direct Air Carbon Capture Technology Market Segmentation

Global Market, by Number of Collectors (2021-2029)
Global Market, by Application (2021-2029)

Regional Direct Air Carbon Capture Technology Market (2021-2029)

Regional Market, by Number of Collectors (2021-2029)
Regional Market, by Application (2021-2029)
Regional Market, by Country (2021-2029)

Company Profile: Key players

Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments

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Key Types:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Number of Collectors and Application
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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