Direct Air Capture Market Size, Share

Overview

The global direct air capture market in terms of revenue was estimated to be worth $62 million in 2023 and is poised to reach $1,727 million by 2030, growing at a CAGR of 60.9% from 2023 to 2030. Several factors driving the market are - more stringent government regulations and increased interest in synthetic fuels for environmental benefits in carbon reduction. Globally, governments are making strides to achieve a net-zero emission target. Over 140 major carbon-polluting countries, including China, US, and India, have promised to reach net-zero emissions by mid-century in 2050. The increased focus on net-zero emissions allows for an earlier investment opportunity for the developers of DAC solutions.

Attractive Opportunities in the Direct Air Capture Market

North America

North America is expected to be the largest market for Direct Air Capture owing to the rising investment in direct air capture technology.

The growth of the Direct Air Capture market is driven by the increasing adoption of solar photovoltaic as primary power sources.

Europe is expected to be the second-largest market during the forecast period.

Contracts & agreements and partnerships are likely to offer lucrative opportunities for the market players during the forecast period.

Increasing government policies, and continuous upgrading of next-generation solar technology standards, driving DIRECT AIR CAPTURE demand.

Global Direct Air Capture Market Dynamics

Driver: Increasing emphasis on global net zero emission goals

The increasing global pressures on the environment, most notably carbon dioxide emissions are estimated to contribute nearly 76 percent of global greenhouse gas emission estimates, are a collective move toward influencing a global movement in adopting Direct Air Capture systems. In 2022, the Global Monitoring Lab in the National Oceanic and Atmospheric Administration (NOAA) announced the average atmosphere carbon dioxide grew to 417.06 parts per million "ppm", an increase of 2.13 ppm from the previous year. Governments are acting to reach net-zero emissions. More than 140 countries, several of whom are among the highest contributors to pollution (such as China, the United States, India, and the European Union), are committed to reach net-zero emissions by 2050. The strong movement toward net-zero emissions (which requires not only emissions reduction, but also active removal of CO2) provides proper conditions for the viability of Direct Air Capture (DAC) systems to be adopted and succeed.

Restraint: Infrastructural Hurdles to Scaling Up Direct Air Capture

Transportation and storage infrastructure also serves as the backbone of the carbon management industry - Pipelines are workable at a commercial scale in theory, and they are currently commercially deployed in a limited manner. There are pipeline projects specifically for CO2 that the International Energy Agency (IEA) projects will be able to reach surplus CO2 capacity of greater than 420 million metric tons (Mt) in projected storage by 2030. Nonetheless, the total does represent improvement, but it is insufficient to meet the estimated storage need of 1,200 million metric tons (Mt) of CO2 storage by 2030 in the Net Zero Emissions (NZE) Scenario.

Opportunities: Expansion of the utilization of Direct Air Capture (DAC) on a larger scale.

Globally, twenty-seven Direct Air Capture (DAC) plants have been commissioned, collectively capturing nearly 0.01 million metric tons of CO2 annually. Presently, there are plans for at least 130 DAC facilities at various stages of development. Projections indicate that DAC technologies are poised to capture over 85 million tons of CO2 by 2030 and a substantial 980 million tons of CO2 by 2050. Governments worldwide are actively supporting DAC technologies as part of their strategies to achieve net-zero emission goals, creating an opportunity for the technology to be scaled up on a larger magnitude. In line with this trend, Carbon Engineering ULC is set to establish a plant in 2025 with the capacity to capture up to 1 million metric tons of CO2 annually.

Challenges: High cost of direct air capture technology

Direct Air Capture (DAC) utilizes clean energy sources, such as wind and solar, to remove the CO2 already in the atmosphere, but, compared to other CO2 removal techniques, it remains relatively expensive. DAC involves separating CO2, which is energy intensive, and is a newer technology and so there are fewer projects and companies engaged, contributing to cost issues associated with DAC. According to the World Resource Institute (WRI), the costs associated with capturing CO2 from the atmosphere via DAC are between USD 250 - USD 600, with cost variation dependent on the technology utilized, the use of low carbon energy, and the deployment scale. Even though DAC has current cost barriers, new technology could spur usage and cause considerable reductions in costs.

Global Direct Air Capture Market Ecosystem Analysis

Direct Air Capture Market Ecosystem In this market, few direct air capture companies stand out as established and financially stable providers of direct air capture technology. With years of experience, these companies boast a diverse product portfolio, cutting-edge technologies, and robust global sales and marketing networks. Their proven track record in the industry positions them as reliable and trusted partners for customers seeking direct air capture solutions. These companies have demonstrated their ability to adapt to market dynamics and consistently deliver high-quality products and services, making them leaders in meeting the demands of the oil and gas sector. Companies in this market include Climeworks (Switzerland), Carbon Engineering ULC. (Canada), Global Thermostat (US), Heirloom Carbon Technologies (US), Skytree (Netherlands).

The Liquid-DAC (L-DAC), by technology, is expected to be the largest market during the forecast period.

This report segments the DAC market based on technology into different types: Solid-DAC (S-DAC), Liquid-DAC (L-DAC), Electrochemical-DAC (E-DAC) and others. The Liquid-DAC (L-DAC) segment accounted to be the most dominating segment in the forecast period. In the Liquid-Direct Air Capture (L-DAC) process, that also CO2 was captured by the sorbents at low-temperature, but L-DAC still is in the first order of technologies, the operational activities are still performed at the lowest price and the fuel is the standard one. Solid DAC has a modular design; it is constructed using small, stackable modules, which results in lower initial deployment costs and facilitates gradual scalability. The flexibility to scale up or down easily makes it a well-suited technology for various applications, from capturing emissions in small industrial facilities to removing atmospheric CO2 in large-scale projects.

By application, carbon, capture and storage (CCS) is expected to be the largest growing during the forecast period.

The direct air capture market report segments based on phase into two segments: Carbon capture, and storage (CCS) and carbon capture, utilization, and storage (CCUS). The carbon capture, and storage is expected to be the fastest and largest growing during the forecast period. The growth is attributed by the adoption of Carbon mineralization, which involves the permanent removal of carbon dioxide by converting it into a solid mineral form, usually a carbonate, through a chemical reaction with specific rocks. Carbon capture, utilization, and storage (CCUS) are the direct air capture process used for synthetic fuels, i.e., Power-to-X. The synthetic fuels are expected to be one of the top contributors to the aviation sector, providing ~40% of the aviation fuel demand. Predictions state that by 2070, at least ~20% of CO2 absorbed from bioenergy sources or caught directly from the atmosphere will be utilized in combination with clean hydrogen to generate synthetic hydrocarbon fuels.

North America Region Holds the Largest Share of the Direct Air Capture Market.

North America is poised to be the largest region of the direct air capture market size forecast (2023-2030), followed by Europe. North America's primary role is firmly bolstered by clear policies and market-driven activities. The role of US Department of Energy support, particularly in regards to programs such as the The Regional Direct Air Capture (DAC) Hubs program, serves a firm basis for North America's market leader position. Under this program, US will develop four regional direct air capture hubs. Furthermore, policy frameworks have been put in place to encourage the deployment of DAC such as 45 Q tax credit and California low Carbon Fuel Standard.The regional market is experiencing growth due to the presence of leading solution providers like Global Thermostat (US), Carbon Engineering ULC. (Canada) and Heirloom Carbon Technologies (US).

Recent Developments of Direct Air Capture Market industry

In September 2023, Climeworks collaborated with Great Carbon valley, a pioneering Kenyan systems integrator and project development venture to explore the development of large-scale projects.

In November 2023, Heirloom Carbon Technologies signed an agreement with CarbonCure, a manufacturer of carbon removal or carbon utilization technologies to capture CO2 from the atmosphere and permanently embed it in concrete. Under this agreement CarbonCure permanently store CO2 captured by Heirloom’s DAC facilities in nearby concrete plants.

Key Market Players

Key Players in the Direct Air Capture Market Include

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Scope of the Report

Report Attribute	Details
Market size available for years	2021–2030
Base year considered	2022
Forecast period	2023–2030
Forecast units	Value (USD Million/Billion)
Segments Covered	Direct Air Capture Market by Technology, Application, source, and Region.
Geographies covered	North America, Europe, Middle East & Africa, and Rest of the world.
Companies covered	Climeworks(Switzerland), Carbon Engineering ULC.(Canada), Global thermostat (US), Heirloom Carbon Technologies(US), and Soletair Power (Finland), CarbonCapture Inc.(US), Avnos, Inc. (US), Noya PBC (US), Skytree (Netherlands), RepAir (Israel), MISSION ZERO TECHNOLOGIES (England, Carbyon (Netherlands), Octavia carbon (Kenya), Capture6 (US), Sustaera Inc. (US), Spiritus (US), Infinitree LLC (US), Mosaic Materials Inc. (US), Carbon Collect Limited (Ireland), Immaterial ( England), and Southern Green Gas Limited (Australia)

Key Questions Addressed by the Report

What is the current size of the direct air capture market?

The current market size of the direct air capture market is USD 38 million in 2022.

What are the major drivers for the direct air capture market?

Growing expansion of solar PV and transition towards sustainable energy consumption practices has emerged as some of major drivers for the direct air capture market.

Which is the largest region during the forecasted period in the direct air capture market?

North America is expected to dominate the direct air capture market between 2023–2030, followed by Europe.

Which is the largest segment, by technology, during the forecasted period in the direct air capture market?

Liquid-DAC segment is expected to be the largest market during the forecast period due to lower energy intensity as compared to other technologies such as S-DAC.

Which is the fastest growing segment, by application, during the forecasted period in the direct air capture market?

Carbon capture, and storage is expected to be the fastest growing market during the forecast period.

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TITLE

PAGE NO

INTRODUCTION

RESEARCH METHODOLOGY

EXECUTIVE SUMMARY

PREMIUM INSIGHTS

MARKET OVERVIEW

5.1 INTRODUCTION
5.2 MARKET DYNAMICS

DRIVERS

- Rising emphasis on achieving net-zero emission targets

- Escalating adoption of CO2 in enhanced oil recovery process

- Increasing investment in carbon capture and sequestration technologies

RESTRAINTS

- Limited network of carbon capture pipelines and storage capacity

- High cost of carbon separation process

OPPORTUNITIES

- Increasing research on different DAC techniques

- Rising focus on establishing large-scale DAC facilities

CHALLENGES

- High energy consumption by DAC facilities

- Availability of alternate carbon capture technologies
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.4 PRICING ANALYSIS

INDICATIVE PRICING ANALYSIS OF DIRECT AIR CAPTURE TECHNOLOGY
5.5 SUPPLY CHAIN ANALYSIS

RAW MATERIAL SUPPLIERS

COMPONENT MANUFACTURERS/ASSEMBLERS

DISTRIBUTORS/END USERS
5.6 ECOSYSTEM/MARKET MAP
5.7 REGULATORY LANDSCAPE

REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

REGULATIONS

- North America

- Europe

- RoW
5.8 PATENT ANALYSIS
5.9 CASE STUDY ANALYSIS

GROWY ADOPTED SKYTREE’S COMPACT DAC TECHNOLOGY TO INCREASE SUSTAINABILITY OF VERTICAL FARMING OPERATIONS

ZBT INSTALLED SOLETAIR POWER’S OUTDOOR DAC SYSTEM TO ENABLE EFFICIENT CARBON CAPTURE AND UTILIZATION
5.10 TECHNOLOGY ANALYSIS

SOLID DAC

LIQUID DAC

MEMBRANE-BASED DAC

ELECTROCHEMICAL DAC

OPERATING TEMPERATURE OF DAC
5.11 KEY CONFERENCES AND EVENTS, 2023–2024
5.12 TRADE ANALYSIS

EXPORT SCENARIO

IMPORT SCENARIO
5.13 PORTER’S FIVE FORCES ANALYSIS

THREAT OF SUBSTITUTES

BARGAINING POWER OF SUPPLIERS

BARGAINING POWER OF BUYERS

THREAT OF NEW ENTRANTS

INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA

KEY STAKEHOLDERS IN BUYING PROCESS

BUYING CRITERIA

DIRECT AIR CAPTURE MARKET, BY TECHNOLOGY

6.1 INTRODUCTION
6.2 SOLID DAC

HIGH SUSTAINABILITY OF SOLID DAC TECHNOLOGY TO DRIVE DEMAND
6.3 LIQUID DAC

EXTENDED CAPTURE CAPACITY OF LIQUID DAC TO FUEL DEMAND
6.4 ELECTROCHEMICAL DAC

HIGH ENERGY EFFICIENCY ASSOCIATED WITH ELECTROCHEMICAL DAC IN CAPTURING CO2 TO DRIVE DEMAND
6.5 OTHERS

DIRECT AIR CAPTURE MARKET, BY ENERGY SOURCE

7.1 INTRODUCTION
7.2 ELECTRICITY

RISING DEMAND FOR ELECTROCHEMICAL DAC TECHNOLOGY TO DRIVE MARKET

GEOTHERMAL

SOLAR PV

WIND
7.3 HEAT

INCREASING REQUIREMENT FOR HEAT IN REGENERATION OF SORBENTS TO DRIVE MARKET

HEAT PUMP

DIRECT HEAT

WASTE HEAT

DIRECT AIR CAPTURE MARKET, BY APPLICATION

8.1 INTRODUCTION
8.2 CARBON CAPTURE AND STORAGE

IMPLEMENTATION OF SUPPORTIVE GREENHOUSE EMISSION REDUCTION ACTS AND SUBSIDIES TO STORE CO2 TO DRIVE MARKET
8.3 CARBON CAPTURE, UTILIZATION, AND STORAGE

GROWING DEMAND FOR SYNTHETIC FUELS AND GREEN FERTILIZERS TO DRIVE MARKET

END-USER INDUSTRIES OF CO2 CAPTURED BY DIRECT AIR CAPTURE (DAC) TECHNOLOGY

9.1 INTRODUCTION
9.2 AGRICULTURE

GROWING POPULATION TO DRIVE DEMAND
9.3 CHEMICALS & FUELS

INCREASING DEMAND FOR SYNTHETIC FUELS TO DRIVE MARKET
9.4 CARBON MINERALIZATION

GROWING FOCUS ON INSTALLING LARGE-SCALE DAC PLANTS TO DRIVE MARKET
9.5 FOOD & BEVERAGES

INCREASING DEMAND FOR BEVERAGES AND FROZEN FOOD PRODUCTS TO FUEL MARKET GROWTH
9.6 OIL & GAS

GROWING NEED FOR ENHANCED OIL RECOVERY (EOR) TO DRIVE MARKET
9.7 OTHER END-USER INDUSTRIES

DIRECT AIR CAPTURE MARKET, BY REGION

10.1 INTRODUCTION
10.2 NORTH AMERICA

NORTH AMERICAN DAC MARKET: RECESSION IMPACT

NORTH AMERICA: KEY DAC PROJECTS

BY COUNTRY

- US

- Canada
10.3 EUROPE

EUROPEAN DAC MARKET: RECESSION IMPACT

EUROPE: KEY DAC PROJECTS

BY COUNTRY

- UK

- Switzerland

- Iceland

- Netherlands

- Rest of Europe
10.4 ROW

ROW DAC MARKET: RECESSION IMPACT

ROW: KEY DAC PROJECTS

MIDDLE EAST & AFRICA

- By country

ASIA PACIFIC

- By country

SOUTH AMERICA

- By country

COMPETITIVE LANDSCAPE

11.1 OVERVIEW
11.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023
11.3 MARKET SHARE ANALYSIS, 2022
11.4 MARKET EVALUATION FRAMEWORK, 2019–2023
11.5 COMPANY EVALUATION MATRIX, 2022

STARS

EMERGING LEADERS

PERVASIVE PLAYERS

PARTICIPANTS

COMPANY FOOTPRINT

- Technology footprint

- Energy source footprint

- Regional footprint

- Overall footprint
11.6 START-UP/SME EVALUATION MATRIX, 2022

PROGRESSIVE COMPANIES

RESPONSIVE COMPANIES

DYNAMIC COMPANIES

STARTING BLOCKS

COMPETITIVE BENCHMARKING

- List of key start-ups/SMEs

- Competitive benchmarking of start-ups/SMEs
11.7 COMPETITIVE SCENARIOS AND TRENDS

PRODUCT LAUNCHES

DEALS

EXPANSIONS

OTHERS

COMPANY PROFILES

110

12.1 KEY PLAYERS

CLIMEWORKS

- Business overview

- Products/Solutions/Services offered

- Recent developments

- MnM view

CARBON ENGINEERING ULC.

- Business overview

- Products/Solutions/Services offered

- Recent developments

- MnM view

GLOBAL THERMOSTAT

- Business overview

- Products/Solutions/Services offered

- Recent developments

- MnM view

HEIRLOOM CARBON TECHNOLOGIES

- Business overview

- Products/Solutions/Services offered

- Recent developments

- MnM view

SOLETAIR POWER

- Business overview

- Products/Solutions/Services offered

- Recent developments

- MnM view

CARBONCAPTURE INC.

- Business overview

- Products/Solutions/Services offered

- Recent developments

AVNOS, INC.

- Business overview

- Products/Solutions/Services offered

- Recent developments

NOYA PBC

- Business overview

- Products/Solutions/Services offered

- Recent developments

SKYTREE

- Business overview

- Products/Solutions/Services offered

- Recent developments

REPAIR CARBON

- Business overview

- Products/Solutions/Services offered

MISSION ZERO TECHNOLOGIES

- Business overview

- Products/Solutions/Services offered

- Recent developments

CARBYON

- Business overview

- Products/Solutions/Services offered

- Recent developments

OCTAVIA CARBON

- Business overview

- Products/Solutions/Services offered

- Recent developments

CAPTURE6

- Business overview

- Products/Solutions/Services offered

- Recent developments

SUSTAERA INC.

- Business overview

- Products/Solutions/Services offered

- Recent developments
12.2 OTHER PLAYERS

SPIRITUS

INFINITREE LLC

MOSAIC MATERIALS INC.

CARBON COLLECT LIMITED

IMMATERIAL

SOUTHERN GREEN GAS LIMITED

APPENDIX

147

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

LIST OF TABLES

TABLE 1 DIRECT AIR CAPTURE MARKET SNAPSHOT
TABLE 2 INDICATIVE PRICING ANALYSIS OF DIRECT AIR CAPTURE TECHNOLOGY, 2021–2030 (USD/TON)
TABLE 3 ROLE OF COMPANIES IN DIRECT AIR CAPTURE ECOSYSTEM
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
TABLE 7 MARKET: LIST OF MAJOR PATENTS, 2018–2022
TABLE 8 MARKET: LIST OF CONFERENCES AND EVENTS, 2023–2024
TABLE 9 EXPORT DATA FOR HS CODE 281121-COMPLIANT CARBON DIOXIDE, BY COUNTRY, 2020–2022 (USD THOUSAND)
TABLE 10 IMPORT DATA FOR HS CODE 281121-COMPLIANT CARBON DIOXIDE, BY COUNTRY, 2020–2022 (USD THOUSAND)
TABLE 11 DIRECT AIR CAPTURE MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 12 MARKET: INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION (%)
TABLE 13 MARKET: KEY BUYING CRITERIA, BY APPLICATION
TABLE 14 MARKET, BY TECHNOLOGY, 2021–2030 (USD MILLION)
TABLE 15 MARKET, BY ENERGY SOURCE, 2021–2030 (USD MILLION)
TABLE 16 MARKET, BY APPLICATION, 2023–2030 (USD MILLION)
TABLE 17 MARKET, BY REGION, 2021–2030 (KILO TONS)
TABLE 18 MARKET, BY REGION, 2021–2030 (USD MILLION)
TABLE 19 KEY DAC PROJECTS IN NORTH AMERICA
TABLE 20 US: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 21 US: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 22 CANADA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 23 CANADA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 24 KEY DAC PROJECTS IN EUROPE
TABLE 25 UK: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 26 UK: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 27 SWITZERLAND: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 28 SWITZERLAND: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 29 ICELAND: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 30 ICELAND: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 31 NETHERLANDS: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 32 NETHERLANDS: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 33 ROW: DIRECT AIR CAPTURE MARKET, BY REGION, 2021–2030 (USD MILLION)
TABLE 34 KEY DAC PROJECTS IN ROW
TABLE 35 SAUDI ARABIA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 36 SAUDI ARABIA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 37 UAE: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 38 UAE: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 39 ISRAEL: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 40 ISRAEL: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 41 KENYA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 42 KENYA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 43 SOUTH AFRICA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 44 SOUTH AFRICA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 45 AUSTRALIA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 46 AUSTRALIA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 47 CHINA: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 48 CHINA: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 49 JAPAN: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 50 JAPAN: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 51 BRAZIL: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 52 BRAZIL: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE, 2018–2022 (MW)
TABLE 53 CHILE: CO2 EMISSION, 2015–2022 (MILLION TONS)
TABLE 54 CHILE: INSTALLED RENEWABLE ENERGY CAPACITY, BY SOURCE 2018–2022 (MW)
TABLE 55 DIRECT AIR CAPTURE MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023
TABLE 56 MARKET EVALUATION FRAMEWORK, 2019–2023
TABLE 57 COMPANY TECHNOLOGY FOOTPRINT (4 KEY PLAYERS)
TABLE 58 COMPANY ENERGY SOURCE FOOTPRINT (4 KEY PLAYERS)
TABLE 59 COMPANY ENERGY SOURCE FOOTPRINT
TABLE 60 COMPANY REGION FOOTPRINT (4 KEY PLAYERS)
TABLE 61 MARKET: LIST OF KEY START-UPS/SMES
TABLE 62 MARKET: COMPETITIVE BENCHMARKING OF START-UPS/SMES
TABLE 63 MARKET: PRODUCT LAUNCHES, SEPTEMBER 2023
TABLE 64 MARKET: DEALS, MAY 2019–OCTOBER 2023
TABLE 65 MARKET: EXPANSIONS, OCTOBER 2019–JUNE 2023
TABLE 66 MARKET: OTHERS, JANUARY 2019 – DECEMBER 2022
TABLE 67 CLIMEWORKS: COMPANY OVERVIEW
TABLE 68 CLIMEWORKS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 69 CLIMEWORKS: DEALS
TABLE 70 CLIMEWORKS: OTHERS
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
TABLE 75 GLOBAL THERMOSTAT: COMPANY OVERVIEW
TABLE 76 GLOBAL THERMOSTAT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 77 GLOBAL THERMOSTAT: DEALS
TABLE 78 GLOBAL THERMOSTAT: OTHERS
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
TABLE 83 SOLETAIR POWER: COMPANY OVERVIEW
TABLE 84 SOLETAIR POWER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 85 SOLETAIR POWER: DEALS
TABLE 86 SOLETAIR POWER: OTHERS
TABLE 87 CARBONCAPTURE INC.: COMPANY OVERVIEW
TABLE 88 CARBONCAPTURE INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 89 CARBONCAPTURE INC.: DEALS
TABLE 90 CARBONCAPTURE INC.: OTHERS
TABLE 91 AVNOS, INC.: COMPANY OVERVIEW
TABLE 92 AVNOS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 93 AVNOS, INC.: OTHERS
TABLE 94 NOYA PBC: COMPANY OVERVIEW
TABLE 95 NOYA PBC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 96 NOYA PBC: DEALS
TABLE 97 SKYTREE: COMPANY OVERVIEW
TABLE 98 SKYTREE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 99 SKYTREE: PRODUCT LAUNCHES
TABLE 100 SKYTREE: DEALS
TABLE 101 REPAIR: COMPANY OVERVIEW
TABLE 102 REPAIR CARBON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 103 MISSION ZERO TECHNOLOGIES: COMPANY OVERVIEW
TABLE 104 MISSION ZERO TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 105 MISSION ZERO TECHNOLOGIES: DEALS
TABLE 106 CARBYON: COMPANY OVERVIEW
TABLE 107 CARBYON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 108 CARBYON: DEALS
TABLE 109 OCTAVIA CARBON: COMPANY OVERVIEW
TABLE 110 OCTAVIA CARBON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 111 OCTAVIA CARBON: DEALS
TABLE 112 CAPTURE6: COMPANY OVERVIEW
TABLE 113 CAPTURE6: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 114 CAPTURE6: DEALS
TABLE 115 SUSTAERA INC.: COMPANY OVERVIEW
TABLE 116 SUSTAERA INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 117 SUSTAERA INC.: DEALS

LIST OF FIGURES

FIGURE 1 MARKET SEGMENTATION
FIGURE 2 DIRECT AIR CAPTURE MARKET: RESEARCH DESIGN
FIGURE 3 DATA TRIANGULATION
FIGURE 4 DIRECT AIR CAPTURE MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
FIGURE 5 DIRECT AIR CAPTURE MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 6 MAIN METRICS CONSIDERED TO ANALYZE DEMAND FOR DIRECT AIR CAPTURE SYSTEMS
FIGURE 7 INDUSTRY CONCENTRATION, 2022
FIGURE 8 NORTH AMERICA HELD LARGEST SHARE OF MARKET IN 2022
FIGURE 9 LIQUID DAC SEGMENT TO LEAD MARKET IN 2030
FIGURE 10 ELECTRICITY SEGMENT TO HOLD LARGER SHARE OF MARKET IN 2030
FIGURE 11 CARBON CAPTURE AND STORAGE SEGMENT TO DOMINATE MARKET IN 2030
FIGURE 12 GROWING NEED FOR CO2 IN ENHANCED OIL RECOVERY PROCESS TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS
FIGURE 13 EUROPEAN MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 14 LIQUID DAC SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030
FIGURE 15 ELECTRICITY SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2030
FIGURE 16 CARBON CAPTURE AND STORAGE SEGMENT TO HOLD LARGER MARKET SHARE IN 2030
FIGURE 17 DIRECT AIR CAPTURE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
FIGURE 18 GLOBAL CO2 EMISSION FROM ENERGY COMBUSTION AND INDUSTRIAL PROCESSES, 2012–2022
FIGURE 19 ENERGY REQUIREMENTS FOR SOLID DAC AND LIQUID DAC TECHNOLOGIES, 2023
FIGURE 20 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
FIGURE 21 MARKET: SUPPLY CHAIN ANALYSIS
FIGURE 22 MARKET MAPPING
FIGURE 23 COMPANIES IN DIRECT AIR CAPTURE ECOSYSTEM
FIGURE 24 MARKET: PATENTS APPLIED AND GRANTED, 2012–2022
FIGURE 25 EXPORT DATA FOR HS CODE 2881121-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)
FIGURE 27 DAC MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 28 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
FIGURE 29 KEY BUYING CRITERIA, BY APPLICATION
FIGURE 30 MARKET, BY TECHNOLOGY, 2022
FIGURE 31 MARKET, BY ENERGY SOURCE, 2022
FIGURE 32 MARKET, BY APPLICATION, 2022
FIGURE 33 GLOBAL CO2 EMISSIONS FROM TRANSPORTATION SECTOR, BY APPLICATION, 2012–2022
FIGURE 34 EUROPE TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
FIGURE 35 MARKET, BY REGION, 2022
FIGURE 36 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 37 EUROPE: MARKET SNAPSHOT
FIGURE 38 DIRECT AIR CAPTURE MARKET SHARE ANALYSIS, 2022
FIGURE 39 MARKET: COMPANY EVALUATION MATRIX, 2022
FIGURE 40 OVERALL COMPANY FOOTPRINT (4 KEY PLAYERS)
FIGURE 41 MARKET: START-UP/SME EVALUATION MATRIX, 2022

The study involved major activities in estimating the current size of the direct air capture market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

This research study on the dierect air capture market involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg, Factiva, IRENA, International Energy Agency, and Statista Industry Journal, to collect and identify information useful for a technical, market-oriented, and commercial study of the market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The direct air captures market comprises several stakeholders, such as direct air capture manufacturers, technology providers, and technical support providers in the supply chain. The demand side of this market is characterized by the rising demand for direct air capture systems in various applications such as carbon capture, and storage (CCS), and carbon capture, utilization, and storage (CCUS). The supply side is characterized by rising demand for contracts from the industrial sector and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:

Direct Air Capture Market Size, and Share

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Direct Air Capture Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

The key players in the industry and market have been identified through extensive secondary research, and their market share has been determined through primary and secondary research.
The industry’s value chain and market size, in terms of value, have been determined through both primary and secondary research processes.
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Direct Air Capture Market Size: Top-Down Approach

Direct Air Capture Market Bottom Up Approach

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Direct Air Capture Market Size: Bottom-Up Approach

Direct Air Capture Market Top Down Approach

Data Triangulation

After arriving at the overall market size from the above estimation process, the total market has been split into several segments and subsegments. Data triangulation and market breakdown processes have been employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand- and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Market Definition

Direct Air Capture (DAC) is a technology designed to directly extract carbon dioxide (CO2) from the atmosphere, essentially extracting it directly from the air. The captured CO2 can then be securely stored underground or used in diverse applications, presenting a potent tool in combating climate change. When DAC is combined with renewable energy sources to drive the capture process, it has the potential to achieve negative emissions.

Key Stakeholders

Energy Regulators
Consulting companies in the energy and power sector
Institutional investors/shareholders
Governments and research organizations
Power equipment and garden tool manufacturers
Direct air capture technology providers
Spare parts and component suppliers

Objectives of the Study

To describe, segment, and forecast the direct air capture (DAC) market, by technology, energy source, and application in terms of value
To forecast the market across four key regions, namely, North America, Europe, and Rest of the World (RoW), in terms of value and volume
To provide detailed information about key drivers, restraints, opportunities, and challenges influencing the market
To strategically analyze the market with respect to individual growth trends, prospects, and contributions of each segment to the market
To analyze the supply chain, trends/disruptions impacting customer business, market/ecosystem, pricing trends, and regulatory landscape pertaining to solid oxide direct air captures
To strategically analyze micromarkets1 with respect to individual growth trends, expansions, and their contribution to the overall market
To analyze opportunities for stakeholders in the market and draw a competitive landscape for market players
To benchmark players within the market using the company evaluation matrix, which analyzes market players based on several parameters within the broad categories of business and product strategies
To analyze the key market players with respect to their market share, product specifications, and applications
To strategically profile the key players and comprehensively analyze their market ranking and core competencies2
To analyze competitive developments in the market, such as product launches, sales contracts, agreements, investments, expansions, partnerships, and collaborations

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Product Analysis

Product Matrix, which provides a detailed comparison of the product portfolio of each company

Direct Air Capture Market Size, Share, Growth, Analysis

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 (CC), Utilization, and Storage) Region - Global Forecast to 2030