Direct Air Capture System Market Size, Trends and Insights By Product (Absorption-based DAC, Adsorption-based DAC, Membrane-based DAC, Cryogenic-based DAC), By Scale (Pilot-scale, Demonstration-scale, Commercial-scale), By Application (Carbon capture and storage (CCS), Carbon capture and utilization (CCU)), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Climeworks AG
- Carbon Engineering Ltd.
- Global Thermostat LLC
- Carbon Engineering
- Carbon Engineering
- Others
Reports Description
As per the current market research conducted by the CMI Team, the global Direct Air Capture System Market is expected to record a CAGR of 43.8% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 0.15 Billion. By 2032, the valuation is anticipated to reach USD 2.5 Billion.
Direct Air Capture (DAC) System Market: DAC systems are innovative technologies designed to remove carbon dioxide (CO2) directly from the atmosphere. The nature of this market involves the development and deployment of various DAC solutions, such as large-scale facilities and modular units, to capture CO2 for storage, utilization, or neutralization.
Current trends in the DAC system market encompass a rising global focus on carbon removal, strong governmental and corporate support for carbon sequestration technologies, advancements in DAC efficiency and cost reduction, and an increasing recognition of DAC’s crucial role in addressing climate change challenges.
Direct Air Capture System Market – Significant Growth Factors
- Climate Change Mitigation: Growing global concerns about climate change and the need to reduce atmospheric carbon dioxide levels drive the DAC market as an essential tool for carbon removal.
- Regulatory Support: Government policies and incentives promoting carbon capture and storage initiatives create opportunities for DAC system adoption, with potential financial incentives and compliance requirements.
- Corporate Sustainability Goals: Many businesses are committed to achieving carbon neutrality, driving investments in DAC systems to offset emissions and meet sustainability targets.
- Carbon Market Development: The establishment and expansion of carbon markets, such as carbon pricing mechanisms and offset trading, offer opportunities for DAC projects to monetize captured carbon.
- Advancements in Technology: Ongoing research and development efforts lead to improved DAC system efficiency, reduced costs, and increased scalability, making DAC more attractive and feasible.
- Public Awareness and Investment: Growing public awareness of climate change issues and increasing private and public investments in clean energy and carbon capture projects create a favorable environment for DAC market growth.
Direct Air Capture System Market – Mergers and Acquisitions
The Direct Air Capture System Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their Type offerings and profitability. Some notable examples of mergers and acquisitions in the Direct Air Capture System Market include:
- In May 2023, Sumitomo Corporation unveiled its investment in Global Thermostat’s direct air capture technology. The two companies formalized their commitment through an agreement to jointly produce and advance a novel line of carbon capture and sequestration solutions.
- In September 2022, CarbonCapture Inc, a climate tech firm based in the USA, forged a strategic alliance with Frontier Carbon Solutions, setting the stage for their ambitious Project Bison in Wyoming, USA. This undertaking aspired to extract a substantial 5 million metric tons of atmospheric CO2 by the year 2030.
- In September 2021, Occidental Petroleum marked a significant milestone with the inauguration of the Permian Basin’s most extensive direct air capture facility. This endeavor was geared towards an impressive annual target of removing 1 million metric tonnes of CO2 from the environment.
These mergers and acquisitions have helped companies expand their Type offerings, improve their market presence, and capitalize on growth opportunities in the Direct Air Capture System Market. The trend is expected to continue as companies seek a competitive edge in the market.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Direct Air Capture System Market | Clean Hydrogen Market | Offshore Wind Energy Market |
| CAGR 43.8% (Approx) | CAGR 16% (Approx) | CAGR 12.1% (Approx) |
| USD 2.5 Billion by 2032 | USD 3.78 Billion by 2032 | USD 60.1 Billion by 2032 |
Direct Air Capture System Market – Significant Threats
The Direct Air Capture System Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:
- High Initial Costs: The installation and operation of DAC systems can be cost-prohibitive, posing a challenge to widespread adoption.
- Energy Consumption: DAC systems require substantial energy to capture and process CO2, which can lead to increased carbon emissions if not sourced from renewable energy.
- Land and Resource Competition: Competition for land and resources with other uses, such as agriculture or renewable energy projects, can limit the deployment of DAC facilities.
- Environmental Concerns: DAC systems, if not well-designed, can have environmental impacts, including habitat disruption and water usage.
- Lack of Regulatory Framework: The absence of a clear regulatory framework for carbon removal and carbon credit trading can hinder DAC market growth.
- Limited Scalability: Scaling up DAC technology to capture a significant portion of global CO2 emissions remains a challenge.
- Technological Uncertainties: Ongoing technological advancements are necessary to improve the efficiency and cost-effectiveness of DAC systems.
- Public Acceptance: Widespread acceptance and understanding of DAC as a solution are needed for it to gain momentum, and public perception can be a hurdle.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 0.15 Billion |
| Projected Market Size in 2032 | USD 2.5 Billion |
| Market Size in 2022 | USD 0.12 Billion |
| CAGR Growth Rate | 43.8% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Product, Scale, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Category-Wise Insights
By Product:
- Absorption-based DAC: In absorption-based Direct Air Capture (DAC), chemical solvents are employed to capture carbon dioxide (CO2) from the atmosphere. This method entails the absorption of CO2 by the solvent, followed by its release and subsequent CO2 purification. A discernible trend is the development of more effective, energy-efficient solvents, bolstering DAC’s potential for large-scale carbon capture.
- Adsorption-based DAC: Adsorption-based DAC systems utilize solid sorbents to trap CO2 from the air. These sorbents adsorb CO2 molecules and, through a regeneration process, release the captured CO2. An emerging trend is the advancement of novel adsorbent materials with heightened selectivity and capacity, bolstering the competitiveness of DAC technology.
- Membrane-based DAC: Membrane-based DAC makes use of selective membranes to enable the passage of CO2 while obstructing other gases. Current trends revolve around augmenting membrane performance and durability, making the process more energy-efficient and cost-effective for extensive carbon capture applications.
- Cryogenic-based DAC: Cryogenic-based DAC encompasses the cooling of air to ultra-low temperatures, leading to the solidification of CO2. The CO2 is then isolated and captured. A prominent trend involves the development of more energy-efficient cryogenic processes and enhanced insulation techniques, diminishing energy consumption within this approach.
By End User
- Pilot-scale DAC: These systems are small-scale prototypes used for experimental and research purposes, typically capturing a relatively modest amount of CO2. Pilot-scale DAC is crucial for testing and refining technology.
- Demonstration-scale DAC: These systems are larger and more advanced, capable of capturing a significant amount of CO2. They serve to showcase the viability of DAC technology, attract investment, and secure regulatory approval.
- Commercial-scale DAC: These systems are industrial-sized installations that capture substantial quantities of CO2 from the atmosphere, often with the intent of providing meaningful carbon removal. Recent trends involve growing interest in commercial-scale DAC as a tool for carbon offsetting, climate mitigation, and sustainability efforts.
By Application
- Carbon Capture and Storage (CCS): Within the realm of DAC systems, CCS pertains to the method of apprehending carbon dioxide (CO2) emissions from diverse sources, such as industrial plants and power generation facilities, and securely sequestering them underground to prevent their release into the atmosphere. The current trend in CCS is marked by its expanding role as a crucial element in the quest to decarbonize industries and attain ambitious net-zero emission targets. This expansion encompasses advancements in CO2 storage techniques, regulatory backing for CCS ventures, and the fusion of CCS with renewable energy sources for more eco-friendly operations.
- Carbon Capture and Utilization (CCU): CCU encompasses the process of capturing CO2 emissions and converting them into valuable products or materials, thus diminishing the carbon footprint. In the DAC system market, the CCU sector is witnessing substantial growth. Emerging trends encompass pioneering CO2 utilization technologies, the promotion of circular economy principles, and the creation of a diverse array of products like synthetic fuels, chemicals, and construction materials. CCU stands as a promising avenue for sustainable CO2 reduction and resource utilization.
Direct Air Capture System Market – Regional Analysis
The Direct Air Capture System Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: In the DAC System Market, North America encompasses the United States and Canada. It’s a key region for DAC development, characterized by a strong focus on carbon capture technologies, substantial investment, and growing government support. Recent trends include increased private sector involvement, research and development initiatives, and the emergence of DAC startups, driven by climate goals and corporate sustainability commitments.
- Europe: Europe is a prominent region for DAC technology advancement, encompassing countries in the European Union. The region demonstrates a commitment to carbon reduction, with notable investments and collaborations in the DAC field. Key trends involve carbon pricing mechanisms, incentives for carbon removal, and a push for sustainable energy solutions to drive DAC adoption.
- Asia-Pacific: The Asia-Pacific region, including countries like China and India, is witnessing a rising interest in DAC technology. Governments and businesses are recognizing the importance of DAC in addressing climate change. The trends include significant investments in carbon capture projects, technology innovation, and partnerships to harness DAC for environmental sustainability.
- LAMEA: LAMEA is an emerging region for DAC systems. While DAC projects are in their early stages, there is a growing interest in addressing carbon emissions and climate change. Recent trends encompass pilot DAC initiatives, carbon capture research, and exploration of potential partnerships to harness DAC technology in line with global environmental goals.
Competitive Landscape – Direct Air Capture System Market
The Direct Air Capture System Market is highly competitive, with a large number of manufacturers and others operating globally. Some of the key players in the market include:
- Climeworks AG
- Carbon Engineering Ltd.
- Global Thermostat LLC
- Carbon Engineering
- Carbon Engineering
- Carbon Clean Solutions
- Blue Planet
- Skytree
- Prometheus Fuels
- Verdox
- Swiss Direct Air Capture AG
- Carbon Engineering
- Global Research Technologies
- Infinitree
- Carbon Engineering
- Others
These companies operate in the market through various strategies such as application innovation, mergers and acquisitions, and partnerships.
New players entering the Direct Air Capture (DAC) System market are actively adopting innovation and development to establish their presence. These include startups like Climeworks and Global Thermostat, leveraging cutting-edge technologies and sustainable approaches. They focus on modular DAC units and carbon removal innovations.
Key players dominating the market include established companies like Carbon Engineering, Carbon Clean Solutions, and Climeworks. These leaders have a head start due to their extensive experience, successful pilot projects, and strategic partnerships. They continue to dominate by expanding their capacities, reducing costs, and collaborating with governments and industries to promote DAC as a vital tool for addressing climate change challenges.
The Direct Air Capture System Market is segmented as follows:
By Product
- Absorption-based DAC
- Adsorption-based DAC
- Membrane-based DAC
- Cryogenic-based DAC
By Scale
- Pilot-scale
- Demonstration-scale
- Commercial-scale
By Application
- Carbon capture and storage (CCS)
- Carbon capture and utilization (CCU)
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Direct Air Capture System Market, (2024 – 2033) (USD Billion)
- 2.2 Global Direct Air Capture System Market: snapshot
- Chapter 3. Global Direct Air Capture System Market – Industry Analysis
- 3.1 Direct Air Capture System Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Climeworks AG
- 3.2.2 Carbon Engineering Ltd.
- 3.2.3 Global Thermostat LLC
- 3.2.4 Carbon Engineering
- 3.2.5 Carbon Engineering
- 3.2.6 Carbon Clean Solutions
- 3.2.7 Blue Planet
- 3.2.8 Skytree
- 3.2.9 Prometheus Fuels
- 3.2.10 Verdox
- 3.2.11 Swiss Direct Air Capture AG
- 3.2.12 Carbon Engineering
- 3.2.13 Global Research Technologies
- 3.2.14 Infinitree
- 3.2.15 Carbon Engineering
- 3.2.16 Others.
- 3.2.17 Climate Change Mitigation
- 3.2.18 Regulatory Support
- 3.2.19 Corporate Sustainability Goals
- 3.2.20 Carbon Market Development
- 3.2.21 Advancements in Technology And Public Awareness and Investment.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Product
- 3.7.2 Market Attractiveness Analysis By Scale
- 3.7.3 Market Attractiveness Analysis By Application
- Chapter 4. Global Direct Air Capture System Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Direct Air Capture System Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Direct Air Capture System Market – Product Analysis
- 5.1 Global Direct Air Capture System Market Overview: By Product
- 5.1.1 Global Direct Air Capture System Market Share, By Product, 2022 and – 2033
- 5.2 Absorption-based DAC
- 5.2.1 Global Direct Air Capture System Market by Absorption-based DAC, 2024 – 2033 (USD Billion)
- 5.3 Adsorption-based DAC
- 5.3.1 Global Direct Air Capture System Market by Adsorption-based DAC, 2024 – 2033 (USD Billion)
- 5.4 Membrane-based DAC
- 5.4.1 Global Direct Air Capture System Market by Membrane-based DAC, 2024 – 2033 (USD Billion)
- 5.5 Cryogenic-based DAC
- 5.5.1 Global Direct Air Capture System Market by Cryogenic-based DAC, 2024 – 2033 (USD Billion)
- 5.1 Global Direct Air Capture System Market Overview: By Product
- Chapter 6. Global Direct Air Capture System Market – Scale Analysis
- 6.1 Global Direct Air Capture System Market Overview: By Scale
- 6.1.1 Global Direct Air Capture System Market Share, By Scale, 2022 and – 2033
- 6.2 Pilot-scale
- 6.2.1 Global Direct Air Capture System Market by Pilot-scale, 2024 – 2033 (USD Billion)
- 6.3 Demonstration-scale
- 6.3.1 Global Direct Air Capture System Market by Demonstration-scale, 2024 – 2033 (USD Billion)
- 6.4 Commercial-scale
- 6.4.1 Global Direct Air Capture System Market by Commercial-scale, 2024 – 2033 (USD Billion)
- 6.1 Global Direct Air Capture System Market Overview: By Scale
- Chapter 7. Global Direct Air Capture System Market – Application Analysis
- 7.1 Global Direct Air Capture System Market Overview: By Application
- 7.1.1 Global Direct Air Capture System Market Share, By Application, 2022 and – 2033
- 7.2 Carbon capture and storage (CCS)
- 7.2.1 Global Direct Air Capture System Market by Carbon capture and storage (CCS), 2024 – 2033 (USD Billion)
- 7.3 Carbon capture and utilization (CCU)
- 7.3.1 Global Direct Air Capture System Market by Carbon capture and utilization (CCU), 2024 – 2033 (USD Billion)
- 7.1 Global Direct Air Capture System Market Overview: By Application
- Chapter 8. Direct Air Capture System Market – Regional Analysis
- 8.1 Global Direct Air Capture System Market Regional Overview
- 8.2 Global Direct Air Capture System Market Share, by Region, 2022 & – 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Direct Air Capture System Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Direct Air Capture System Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Direct Air Capture System Market, 2024 – 2033 (USD Billion)
- 8.4 North America Direct Air Capture System Market, by Product, 2024 – 2033
- 8.4.1 North America Direct Air Capture System Market, by Product, 2024 – 2033 (USD Billion)
- 8.5 North America Direct Air Capture System Market, by Scale, 2024 – 2033
- 8.5.1 North America Direct Air Capture System Market, by Scale, 2024 – 2033 (USD Billion)
- 8.6 North America Direct Air Capture System Market, by Application, 2024 – 2033
- 8.6.1 North America Direct Air Capture System Market, by Application, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Direct Air Capture System Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Direct Air Capture System Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Direct Air Capture System Market, 2024 – 2033 (USD Billion)
- 8.8 Europe Direct Air Capture System Market, by Product, 2024 – 2033
- 8.8.1 Europe Direct Air Capture System Market, by Product, 2024 – 2033 (USD Billion)
- 8.9 Europe Direct Air Capture System Market, by Scale, 2024 – 2033
- 8.9.1 Europe Direct Air Capture System Market, by Scale, 2024 – 2033 (USD Billion)
- 8.10 Europe Direct Air Capture System Market, by Application, 2024 – 2033
- 8.10.1 Europe Direct Air Capture System Market, by Application, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Direct Air Capture System Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Direct Air Capture System Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Direct Air Capture System Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Direct Air Capture System Market, by Product, 2024 – 2033
- 8.12.1 Asia Pacific Direct Air Capture System Market, by Product, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Direct Air Capture System Market, by Scale, 2024 – 2033
- 8.13.1 Asia Pacific Direct Air Capture System Market, by Scale, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Direct Air Capture System Market, by Application, 2024 – 2033
- 8.14.1 Asia Pacific Direct Air Capture System Market, by Application, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Direct Air Capture System Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Direct Air Capture System Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Direct Air Capture System Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America Direct Air Capture System Market, by Product, 2024 – 2033
- 8.16.1 Latin America Direct Air Capture System Market, by Product, 2024 – 2033 (USD Billion)
- 8.17 Latin America Direct Air Capture System Market, by Scale, 2024 – 2033
- 8.17.1 Latin America Direct Air Capture System Market, by Scale, 2024 – 2033 (USD Billion)
- 8.18 Latin America Direct Air Capture System Market, by Application, 2024 – 2033
- 8.18.1 Latin America Direct Air Capture System Market, by Application, 2024 – 2033 (USD Billion)
- 8.19. The Middle East and Africa
- 8.19.1 The Middle-East and Africa Direct Air Capture System Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Direct Air Capture System Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Direct Air Capture System Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Direct Air Capture System Market, by Product, 2024 – 2033
- 8.20.1 The Middle-East and Africa Direct Air Capture System Market, by Product, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Direct Air Capture System Market, by Scale, 2024 – 2033
- 8.21.1 The Middle-East and Africa Direct Air Capture System Market, by Scale, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Direct Air Capture System Market, by Application, 2024 – 2033
- 8.22.1 The Middle-East and Africa Direct Air Capture System Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Climeworks AG
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Carbon Engineering Ltd.
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Global Thermostat LLC
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Carbon Clean Solutions
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Blue Planet
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Skytree
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Prometheus Fuels
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Verdox
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Swiss Direct Air Capture AG
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Global Research Technologies
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Infinitree
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Others.
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.1 Climeworks AG
List Of Figures
Figures No 1 to 25
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Climeworks AG
- Carbon Engineering Ltd.
- Global Thermostat LLC
- Carbon Engineering
- Carbon Engineering
- Carbon Clean Solutions
- Blue Planet
- Skytree
- Prometheus Fuels
- Verdox
- Swiss Direct Air Capture AG
- Carbon Engineering
- Global Research Technologies
- Infinitree
- Carbon Engineering
- Others
FAQs
The key factors driving the Market are Climate Change Mitigation, Regulatory Support, Corporate Sustainability Goals, Carbon Market Development, Advancements in Technology And Public Awareness and Investment.
The “Absorption-based DAC” category dominated the market in 2022.
The key players in the market are Climeworks AG, Carbon Engineering Ltd., Global Thermostat LLC, Carbon Engineering, Carbon Engineering, Carbon Clean Solutions, Blue Planet, Skytree, Prometheus Fuels, Verdox, Swiss Direct Air Capture AG, Carbon Engineering, Global Research Technologies, Infinitree, Carbon Engineering, Others.
“North America” had the largest share in the Direct Air Capture System Market.
The global market is projected to grow at a CAGR of 43.8% during the forecast period, 2023-2032.
The Direct Air Capture System Market size was valued at USD 0.15 Billion in 2023.
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