The Global Direct Air Carbon Capture Technology market is likely to grow at an astronomical rate due to burgeoning demand for energy and rising application in the oil & gas sector. Carbon capture technology is gaining popularity as it prevents CO2 release into the atmosphere. The surging use of fossil fuels in cement, steel, and power generation industries has increased CO2 emissions, which led to ozone layer depletion and climate change, thereby fueling the demand for DAC capture technology across the world. Besides this, companies continue to use this technology to convert captured CO2 into useable transportation fuel, such as clean gasoline, diesel, and jet fuel. Hence, these factors are likely to surge the market growth in the forecast period.
Key questions answered in the study:
According to MarkNtel Advisors’ research report, “Global Direct Air Carbon Capture Technology Market Analysis, 2021,” the market shall witness subsequent CAGR during 2021-26. Based on Collectors, the more than 10 collectors segment shall attain the highest market share by 2026. However, the less than 10 collectors segment dominated the Global Direct Air Carbon Capture Market in the past few years.
“Global Direct Air Carbon Capture Technology Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Direct Air Carbon Capture Technology providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which would help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
North America Acquired the Majority Market Share
North America acquired the majority market share in the Global Direct Air Carbon Capture Technology market in the previous few years, in which the US was the major contributor. It owes to the increasing investments by giant companies in this technology, burgeoning expenditure by the government & private investors for research, and rising funding by the government to deploy carbon capture & utilization projects. The U.S. Department of Energy (DOE) awarded USD13.5 million for Direct Air Capture Research. Besides, the surging use of advanced technologies to store CO2 entwined with the abundant availability of leading players are other crucial aspects likely to propel the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report, “Global Direct Air Carbon Capture Technology Market Analysis, 2020.”
According to MarkNtel Advisors, the major players with a considerable share in the Global Direct Air Carbon Capture Technology market are Carbon Engineering, Ltd., Skytree, Climeworks AG, Oak Ridge National Laboratory, Soletair Power, Global Thermostat LLC, National Energy Technology Laboratory, Synhelion, Infinitree LLC, etc.