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Report
India Durable Carbon Dioxide Removal (Cdr) Demand Market Forecast 2030-2040
Market Report I 2024-10-12 I 140 Pages I Inkwood Research
KEY FINDINGS
The India durable carbon dioxide removal (CDR) demand market is set to grow at a CAGR of 19.24% from 2030 to 2040, with the revenue expected to reach $1344.03 million by the end of 2040. In terms of volume, the market is expected to progress with a CAGR of 20.28%, reaching 7.05 million tons by 2040.
MARKET INSIGHTS
The market's growth is largely driven by the increasing demand for carbon dioxide removal to manage residual CO2 emissions and the widespread adoption of durable CDR methods across various sectors, including services. Within the service sector, industries such as information technology, finance, and professional services are integrating CDR technologies as part of their sustainability initiatives. The use of durable carbon removal and storage methodologies is becoming more common as businesses focus on reducing their carbon footprint. Methods like direct air carbon capture and storage (DACCS) and biomass with carbon removal and storage (BiCRS) are being adopted to provide long-term solutions for carbon management.
In addition to the service sector's role in the durable carbon removal supply and demand, companies such as Tata Steel, NTPC Limited, and Larsen & Toubro (L&T) are also involved in deploying durable CDR solutions as part of their broader sustainability and emissions reduction strategies. The expansion of data centers and energy-intensive operations within the service industry has further contributed to the growing demand for durable CDR credits to offset emissions and comply with emerging carbon regulations.
Participation in voluntary and non-voluntary carbon markets is also becoming a key factor, with businesses exploring negative emissions technologies (NETs) to align with carbon reduction goals. While challenges such as high implementation costs and market complexity remain, the demand for durable CDR within India's service sector is anticipated to continue expanding, helping drive decarbonization efforts in the country.
SEGMENTATION ANALYSIS
The India durable carbon dioxide removal (CDR) demand market is segmented into sectors, which are further sub-categorized into consumer, industrial, mobility, manufacturing/technology and hardware, services, energy, digital, and healthcare.
In the manufacturing/technology and hardware sector, the demand for durable carbon dioxide removal (CDR) is linked to reducing emissions from production processes and supply chains. Companies producing electronics, machinery, and hardware are integrating CDR solutions to align with sustainability goals and comply with emission reduction regulations. The sector is exploring options like direct air capture (DAC) and carbon mineralization to offset emissions from energy-intensive manufacturing activities. Additionally, technology firms are incorporating CDR initiatives within their operations to offer carbon-neutral products and services, enhancing their environmental credentials.
COMPETITIVE INSIGHTS
Some of the top companies operating in the India durable carbon dioxide removal (CDR) demand market are Tata Steel, NTPC Limited, Larsen & Toubro (L&T), etc.
Tata Steel Ltd is a steel producer with integrated operations across mining, manufacturing, and marketing. The company is involved in raw material operations and iron-making, and it provides maintenance support services. Its product offerings include hot-rolled, cold-rolled, and galvanized steel, catering to industries such as automotive, construction, packaging, and engineering. Tata Steel operates manufacturing facilities in several countries, including India, Canada, the Netherlands, and the UK, with headquarters in Mumbai, India. As part of its sustainability strategy, the company also engages in carbon dioxide removal initiatives.
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. MARKET OVERVIEW
2.3. SCOPE OF STUDY
2.4. MAJOR MARKET FINDINGS
2.4.1. DIRECT AIR CAPTURE (DAC) IS DEVELOPING AS A METHOD FOR CO2 REMOVAL
2.4.2. CONSUMER SECTOR REPRESENTS THE LARGEST SOURCE OF REVENUE GENERATION FOR CDR DEMAND
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. INCREASED GOVERNMENT INITIATIVES AIMED AT REDUCING CO2 EMISSIONS
3.1.2. RISING INVESTMENT AND FUNDING IN THE CARBON DIOXIDE REMOVAL (CDR) INDUSTRY
3.1.3. INCREASING FOCUS ON ADDRESSING CLIMATE CHANGE
3.2. KEY RESTRAINTS
3.2.1. INSUFFICIENT MECHANISMS FOR MONITORING, REPORTING, AND VERIFICATION (MRV)
3.2.2. HIGH COSTS AND ENVIRONMENTAL CONCERNS
4. KEY ANALYTICS
4.1. KEY MARKET TRENDS
4.1.1. INCREASING USE OF BLUE CARBON AND MICROALGAE IN CARBON DIOXIDE REMOVAL (CDR)
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1. BUYERS POWER
4.2.2. SUPPLIERS POWER
4.2.3. SUBSTITUTION
4.2.4. NEW ENTRANTS
4.2.5. INDUSTRY RIVALRY
4.3. GROWTH PROSPECT MAPPING
4.3.1. GROWTH PROSPECT MAPPING FOR INDIA
4.4. MARKET MATURITY ANALYSIS
4.5. MARKET CONCENTRATION ANALYSIS
4.6. VALUE CHAIN ANALYSIS
4.6.1. R&D
4.6.2. TECHNOLOGY AND EQUIPMENT MANUFACTURING
4.6.3. DEPLOYMENT AND OPERATIONS
4.6.4. MONITORING, REPORTING, AND VERIFICATION (MRV)
4.7. KEY BUYING CRITERIA
4.7.1. COST-EFFECTIVENESS
4.7.2. TECHNOLOGICAL EFFICIENCY
4.7.3. REGULATORY COMPLIANCE
4.7.4. ENVIRONMENTAL IMPACT
5. MARKET BY SECTOR (IN TERMS OF REVENUE: $ MILLION & IN TERMS OF VOLUME: MILLION TONS)
5.1.1. CONSUMER
5.1.2. INDUSTRIAL
5.1.3. MOBILITY
5.1.4. MANUFACTURING/TECHNOLOGY AND HARDWARE
5.1.5. SERVICES
5.1.6. ENERGY
5.1.7. DIGITAL
5.1.8. HEALTHCARE
6. COMPETITIVE LANDSCAPE
6.1. KEY STRATEGIC DEVELOPMENTS
6.1.1. MERGERS & ACQUISITIONS
6.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
6.1.3. PARTNERSHIPS & AGREEMENTS
6.1.4. BUSINESS EXPANSIONS & DIVESTITURES
6.2. COMPANY PROFILES
6.2.1. TATA STEEL
6.2.1.1. COMPANY OVERVIEW
6.2.1.2. PRODUCT LIST
6.2.1.3. STRENGTHS & CHALLENGES
6.2.2. NTPC LIMITED
6.2.2.1. COMPANY OVERVIEW
6.2.2.2. PRODUCT LIST
6.2.2.3. STRENGTHS & CHALLENGES
6.2.3. LARSEN & TOUBRO (L&T)
6.2.3.1. COMPANY OVERVIEW
6.2.3.2. PRODUCTS LIST
6.2.3.3. STRENGTHS & CHALLENGES
6.2.4. THERMAX LIMITED
6.2.4.1. COMPANY OVERVIEW
6.2.4.2. PRODUCT LIST
6.2.4.3. STRENGTHS & CHALLENGES
6.2.5. DASTUR ENERGY
6.2.5.1. COMPANY OVERVIEW
6.2.5.2. PRODUCT LIST
6.2.5.3. STRENGTHS & CHALLENGES
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND
TABLE 2: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, BY SECTOR, 2030-2040 (IN $ MILLION)
TABLE 3: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, BY SECTOR, 2030-2040 (IN MILLION TONS)
TABLE 4: REGULATORY FRAMEWORK FOR INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET
TABLE 5: KEY PLAYERS OPERATING IN INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET
TABLE 6: LIST OF MERGERS & ACQUISITIONS
TABLE 7: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 8: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 9: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR INDIA
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, GROWTH POTENTIAL, BY SECTOR, IN 2030
FIGURE 9: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, BY CONSUMER, 2030-2040 (IN $ MILLION)
FIGURE 10: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, BY INDUSTRIAL, 2030-2040 (IN $ MILLION)
FIGURE 11: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, BY MOBILITY, 2030-2040 (IN $ MILLION)
FIGURE 12: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, BY MANUFACTURING/TECHNOLOGY AND HARDWARE, 2030-2040 (IN $ MILLION)
FIGURE 13: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, BY SERVICES, 2030-2040 (IN $ MILLION)
FIGURE 14: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, BY ENERGY, 2030-2040 (IN $ MILLION)
FIGURE 15: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, BY DIGITAL, 2030-2040 (IN $ MILLION)
FIGURE 16: INDIA DURABLE CARBON DIOXIDE REMOVAL (CDR) DEMAND MARKET, BY HEALTHCARE, 2030-2040 (IN $ MILLION)
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