Onboard Carbon Capture System Market Overview: Size, Growth, and Competitive Landscape

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 is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector.  The global Onboard Carbon Capture System market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.

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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

The leading market contenders listed 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

Research Report on the Onboard Carbon Capture System Market Addresses the Following Key Questions:

• Who are the dominant players of the Onboard Carbon Capture System market?
• Which regional market is anticipated to have a high growth rate over the projected period?
• What consumer trends and demands are expected to influence the operations of the market players in the Onboard Carbon Capture System market?
• What are the key growth drivers and restraining factors of the Onboard Carbon Capture System market?
• What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
• What is the overall impact of the COVID-19 pandemic on the Onboard Carbon Capture System market and its key segments?

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Emergen Research has segmented the global Onboard Carbon Capture System market on the basis of type, type of care, and region

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

In conclusion, the Onboard Carbon Capture System Market report is an exhaustive database that will help readers formulate lucrative strategies. The Onboard Carbon Capture System Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.

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