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 study provides a thorough analysis of the industry and includes information on market size, share, revenue growth, and leading companies. The report covers all crucial and essential information related to global Onboard Carbon Capture System market to help readers, investors, clients to gain a thorough understanding of the market and invest accordingly. Various advanced statistical tools such as SWOT analysis or Porter’s Five Forces are used in the report.

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