Smart Carbon Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Aker Solutions ASA, Dakota Gasification Company, Equinor ASA, Fluor Corporation

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Smart Carbon Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $7.3 billion In 2028 At A CAGR Of 15.4%.

The smart carbon market size has grown rapidly in recent years. It will grow from $3.54 billion in 2023 to $4.11 billion in 2024 at a compound annual growth rate (CAGR) of 16.1%. The growth in the historic period can be attributed to growing environmental awareness, government regulations on carbon emissions, rising global carbon footprint, increasing public pressure on businesses, growth in renewable energy adoption..

The smart carbon market size is expected to see rapid growth in the next few years. It will grow to $7.3 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to global commitment to carbon neutrality, increased investment in carbon capture, rise in carbon pricing mechanisms, expansion of carbon trading markets, increasing carbon disclosure requirements.. Major trends in the forecast period include integration of ai and iot in smart carbon, carbon capture and utilization (ccu), integration with iot and sensors, carbon storage and sequestration, carbon offsetting programs, carbon removal technologies..

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Smart Carbon Market Major Segments
The smart carbon market covered in this report is segmented -

1) By Type: Chemical Looping Combustion (CLC), Solvents and Sorbents, Bio-Energy CCS (BECCS), Direct Air Capture (DAC)
2) By Source: Oil and Gas, Power Generation, Chemicals and Petrochemicals, Cement, Iron and Steel, Other Sources
3) By Application: Urea Manufacturing, Synthetic Fuel, Chemical Production, Building Aggregates, Dry Ice, Other Applications

Key Driver - Impact Of Increased Enhanced Oil Recovery (EOR) Projects On The Growth Of The Smart Carbon Market

An increase in the number of enhanced oil recovery (EOR) projects is significantly contributing to the growth of the smart carbon market going forward. Enhanced oil recovery refers to extracting remaining oil from oil reservoirs through the injection of gasses and chemicals like carbon dioxide (CO2). Oil production can be increased through EOR, by injecting CO2 into an existing oil field, EOR techniques raise the reservoir's total pressure, forcing oil toward production wells, as a result, an increase in the number of enhanced oil recoveries increases the demand for the smart carbon market. For instance, in 2022, according to MDPI(Multidisciplinary Digital Publishing Institute), a Switzerland-based publisher of open-access scientific journals, more than 375 EOR projects were in operation, accounting for about 2% of global oil production. Therefore, an increase in the number of enhanced oil recovery (EOR) projects drives the smart carbon market.

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Prominent Trend - Technological Advancements Driving Innovation In The Smart Carbon Market

Technological advancement is the key trend gaining popularity in the smart carbon market. Major companies operating in the smart carbon market are focusing on developing new technologies to capture carbon from the atmosphere and from fossil fuel emissions. For instance, in June 2022, Ecospray, an Italy-based technology-as-a-service company, launched three innovative carbon capture technologies that include the reduction of CO2 emissions through the use of amines, calcium hydroxide, or molten carbonate fuel cells. These are implemented in different contexts for the maritime industry. Factors such as the size and type of ship, the route it sails, and the space available on board have a major effect on the scope of the application.

Smart Carbon Market Players
Major companies operating in the smart carbon market report are Aker Solutions ASA, Dakota Gasification Company, Equinor ASA, Fluor Corporation, Linde plc., A.P. Moller-Maersk Group, Mitsubishi Heavy Industries Ltd., Shell plc., Siemens AG, Sulzer Ltd., Honeywell International Inc., ExxonMobil Corporation, Trojan Battery Company LLC, Olam International, Carbon Engineering Ltd., Climeworks, Global Thermostat, Carbon Clean Solutions, Blue Planet, CarbonCure Technologies, Carbon Lighthouse, Charm Industrial, Heliogen, Verdox, Carbon Neutral, Aether Diamonds, Brightmark, Carbon Upcycling Technologies, Planetary Hydrogen, LanzaTech, Newlight Technologies, Svante Inc., Twelve, Carbon Recycling International, Ecovative Design, Solidia Technologies .

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Largest And Fastest Growing Region In The Market
North America was the attractive region in the smart carbon market in 2023 The regions covered in the smart carbon market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Smart Carbon Market Report Structure
3. Smart Carbon Market Trends And Strategies
4. Smart Carbon Market - Macro Economic Scenario
5. Smart Carbon Market Size And Growth
…..
27. Smart Carbon Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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This release was published on openPR.