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 assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The Global Onboard Carbon Capture System Market studies the market scenario to offer growth projections for the Onboard Carbon Capture System industry for the forecast period of 2020-2027. The report focuses on potential growth opportunities and limitations the prominent players of the industry might face during the entirety of the forecast timeline. The report pays special heed to the emerging business components, niche sectors, and product launches and brand promotions occurring in the market to help the readers make fruitful investment strategies.
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https://www.emergenresearch.com/request-sample/1799Competitive 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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https://www.emergenresearch.com/request-for-customization/1799Segments 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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