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Direct Air Carbon Capture Technology is used to capture carbon dioxide directly from the surrounding air and converting carbon dioxide to fuels and other chemicals in order to improve the environmental conditions and climate change.
Market Segmentation
Enhance oil recovery (EOR) Accounted for Considerable Market Share
Based on the Application, Enhance oil recovery (EOR) accounted for considerable market share in the Global Direct Air Carbon Capture Technology market in 2019. The growth of the segment is attributed to increasing investment by the energy industry in direct air capture (DAC) projects to scale up in capacity and to scale down in cost. Besides this, CO2 is a displacing agent for the enhancement of oil recovery techniques. The storage of CO2 which can be further used in transportation pipelines in the oil & gas industry is anticipated to proliferate the growth of the Direct Air Carbon Capture Technology market in the coming years as revealed by the MarkNtel Advisors’ research report “Global Direct Air Carbon Capture Technology Market Analysis, 2021”.
Market Opportunities
According to MarkNtel Advisors’ research report “Global Direct Air Carbon Capture Technology Market Analysis, 2021”, the market is anticipated to grow at a significant CAGR during 2021-26F. The increasing government inclination to curb GHG and CO2 emission has augmented the demand for DAC capture technology. The technology captures and stores CO2 which can be further used for enhanced oil recovery or to make products such as chemicals, fuels and cement. The adoption of carbon-neutral targets by countries such as to achieve net-zero greenhouse gas emissions by 2050 and the adoption of technology for customers across industries has proliferated the growth of the market.
Competitive Landscape
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Direct Air Carbon Capture Technology market include Carbon Engineering, Ltd., Skytree, Climeworks AG, Oak Ridge National Laboratory, Soletair Power, Global Thermostat LLC, National Energy Technology Laboratory, Synhelion, Infinitree LLC., etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What is the historical year, base year and forecast year considered in the research report on Global Direct Air Carbon Capture Technology Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of the Global Direct Air Carbon Capture Technology Market during 2021-26?
A. The Global Direct Air Carbon Capture Technology Market is expected to grow at a CAGR of 15% during 2021-26.
Q. Who are the key competitors or players operating in Global Direct Air Carbon Capture Technology Market?
A. Carbon Engineering, Ltd., Skytree, Climeworks AG, Oak Ridge National Laboratory, Soletair Power, Global Thermostat LLC, National Energy Technology Laboratory, Synhelion, Infinitree LLC., are few of the leading players in the Global Direct Air Carbon Capture Technology Market.
Q. Which application segment would emerge as an opportunity area for players in Global Direct Air Carbon Capture Technology Market?
A. Agriculture is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Direct Air Carbon Capture Technology Market?
A. Asia-Pacific continue to grow at the highest CAGR, presenting immense opportunities for market players of the Global Direct Air Carbon Capture Technology Market.
