The global onboard carbon capture system market size was USD 924 Million in 2022 and is expected to register a revenue CAGR of 8.3 % during the forecast period, according to latest analysis by Emergen Research. Onboard Carbon Capture (OCC) system is a new technology that combines energy efficiency and alternative fuels to create a circular solution for lowering maritime CO2 emissions. According to the United Nations Conference on Trade and Development (UNCTAD), the worldwide maritime industry is largely reliant on fossil fuels, emitting around 1.2 gigatons of carbon dioxide equivalents (CO2e) and accounting for about 3% of global Greenhouse Gas (GHG) emissions. Worldwide, marine and shipping companies are widely implementing Onboard Carbon Capture (OCC) systems in order to cut down on greenhouse gas emissions by half by 2050. Commercial and defense aircraft producers are looking for long-term solutions to achieve decarbonization of the aviation industry. Onboard Carbon Capture (OCC) systems play a critical role in achieving global needs in energy and climate goals. The International Air Transport Association (IATA) issued a resolution in October 2021 to achieve net-zero carbon emissions from their operations by 2050. However, rising manufacturing costs, process management, and the likelihood of carbon dioxide (CO2) leakage are key factors impeding market growth. OCC systems include use of a variety of equipment, technologies, and process management processes. Complex techniques and process management requires significant investment in process equipment, which is hindering growth of the market.
The Global Onboard Carbon Capture System Market Report offers extensive knowledge and information about the Onboard Carbon Capture System market pertaining to market size, market share, growth influencing factors, opportunities, and current and emerging trends. The report is formulated with the updated and latest information of the global Onboard Carbon Capture System market further validated and verified by the industry experts and professionals. The Global Onboard Carbon Capture System Market report contains historical, current, and forecast estimation of the revenue generation and profits for each segment and sub-segment of the Onboard Carbon Capture System market in each key region of the world. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market.
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Competitive Outlook: The leading companies operating in the Onboard Carbon Capture System market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Top Companies Operating in the Onboard Carbon Capture System Market and Profiled in the Report are:
Alfa Laval AB, Gaztransport & Technigaz SA (GTT), MAN Energy Solutions, Wärtsilä Corporation, Panasia Co,Ltd, Aker Carbon Capture ASA, BASF SE, Samsung Heavy Industries (SHI) Co., Ltd., Carbon Engineering Ltd., Saudi Arabian Oil Co. (Aramco), LanzaTech, Inc., VICI AG International, CO2 Capsol AS and others
Objectives of the Report:
Study of the global Onboard Carbon Capture System market size by key regions, types, and applications with reference to historical data (2017-2018) and forecast (2020-2027)
Industrial structure analysis of the Onboard Carbon Capture System market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape benchmarking
Analysis of Onboard Carbon Capture System market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Onboard Carbon Capture System market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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Segments Covered in this report are:
Technology Outlook (Revenue, USD Million; 2019-2032)
- Pre-combustion
- Post combustion
- Oxy combustion
Service Outlook (Revenue, USD Million; 2019-2032)
- Capture
- Storage
- Transportation
- Utilization
Application Outlook (Revenue, USD Million; 2019-2032)
- Ships and maritime
- Aircraft
- Vehicle
- Power generation
- Manufacturing
- Others
Regional Analysis:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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