Global Carbon Capture and Storage (CCS) Market - Segmented by Technology, End-user Industry and Geography - Growth, Trends and Forecasts (2018 - 2023)

  • ID: 4514865
  • Report
  • Region: Global
  • 146 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Aker Solutions
  • Fluor Corporation
  • Halliburton
  • NRG Energy
  • Shell
  • Sulzer Ltd
  • MORE
The global carbon capture and storage market is estimated to witness a healthy CAGR of 10% during the forecast period. North America is expected to hold the largest share of the market owing to increasing investments clubbed with R&D in the region. The oil & gas sector is estimated to have the largest share in the end-user application.

Emerging Demand for CO2 Injection Technique for Enhanced Oil Recovery

EOR method is widely being adopted by oil & gas participants to extract oil and gas from mature fields. CO2 is considered to be an excellent displacing agent for EOR techniques because a large portion of injected CO2 remains in place in depleted reservoirs. Therefore, this method could provide a good option for CO2 sequestration to mitigate global warming. CO2 injection also presents potential benefits by alternatively injecting gas and water as slugs in the water-alternating-gas (WAG) method to control CO2 mobility and flood conformance.
The cost implemented in CCS technology is quite challenging, but the revenue from EOR has underpinned CCS investment decisions in China and the Middle East. The increasing demand for CO2 injection, owing to its aforementioned favorable properties in EOR, accompanied with the need to mitigate global warming, is likely to drive the CCS market.

Oil & Gas End-user Holds the Largest Share

CO2 sequestration can be used in the oil & gas industry in enhanced oil recovery (EOR) and enhanced coal-bed methane (ECBM) operations, in which CO2 is injected in oil and gas beds, to store them in depleted and mature fields. The cost benefits provided by the EOR technique is appealing to the companies to invest in CCS technology and recover the investment.

North America to Dominate the Market

The United States accounts for the largest share of the market in North America. The growing demand for clean technology, accompanied by the growing use of CO2 in EOR practices, is likely to drive the CCS market in the United States. The country uses 75% of the global carbon capture capacity in EOR operations, which accounts for nearly 30 Mtpa.
The country introduced a FUTURE Act (Furthering Capital Carbon Capture, Utilization, Technology, Underground storage, and Reduced Emissions) under 45Q section to provide incentives for capturing carbon dioxide produced from industrial and power sources to be used in EOR. In Jan 2017, the Petra Nova carbon capture facility on a coal-fired power plant commenced its operation, with a storage capacity of 1.4 million metric ton of CO2 per year. It is expected to utilize post-combustion capture technology. With the development of shale gas techniques and less interest in the carbon capturing by the new government, it is expected that the market for CCS is likely to grow at a moderate rate in the country.

Notable Developments in the Market

December 2017: ExxonMobil and FuelCell Inc. announced an agreement to pursue a novel application of carbonate fuel cells for coal-fired plants carbon dioxide capture.

Major players include Aker Solutions AS, Fluor Corporation, Dakota Gasification Company, Schlumberger, and Honeywell International Inc., amongst others.

Reasons to Purchase the Report
  • To understand the impact of increasingly stringent regulations on the market.
  • Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
  • To understand the dominating technology in the market.
  • Identify the countries expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3-month analyst support along with the Market Estimate sheet (in Excel).
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FEATURED COMPANIES

  • Aker Solutions
  • Fluor Corporation
  • Halliburton
  • NRG Energy
  • Shell
  • Sulzer Ltd
  • MORE
1. Introduction
1.1 Scope of the Report
1.2 Research Phases
1.3 Study Deliverables

2. Executive Summary

3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition

4. Market Dynamics
4.1 Drivers
4.1.1 Emerging Demand for CO2 Injection Technique for Enhanced Oil Recovery (EOR)
4.1.2 Strict Government Norms toward GHG Emissions
4.2 Restraints
4.2.1 Huge CCS Technologies Implementation Cost
4.2.2 Growth in Shale Investments
4.3 Opportunities

5. Market Segmentation and Analysis
5.1 By Technology
5.1.1 Pre-combustion Capture
5.1.2 Oxy-fuel Combustion Capture
5.1.3 Post-combustion Capture
5.1.4 Others
5.2 By End-user Industry
5.2.1 Oil & Gas
5.2.2 Coal & Biomass Power Plant
5.2.3 Food & Beverage
5.2.4 Iron & Steel
5.2.5 Chemical
5.2.6 Others

6. Regional Market Analysis
6.1 North America
6.1.1 United States
6.1.2 Canada
6.1.3 Mexico
6.1.4 Rest of North America
6.2 Europe
6.2.1 Germany
6.2.2 United Kingdom
6.2.3 Italy
6.2.4 France
6.2.5 Spain
6.2.6 Norway
6.2.7 The Netherlands
6.2.8 Rest of Europe
6.3 Asia-Pacific
6.3.1 China
6.3.2 India
6.3.3 Japan
6.3.4 South Korea
6.3.5 ASEAN Countries
6.3.6 Brunei
6.3.7 Rest of Asia-Pacific
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 United Arab Emirates
6.5.3 South Africa
6.5.4 Rest of Middle East & Africa

7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players

8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments, and Analyst View)
8.1 Aker Solutions
8.2 Dakota Gasification Company
8.3 Exxon Mobil Corp.
8.4 Fluor Corporation
8.5 General Electric
8.6 Halliburton
8.7 Honeywell International Inc.
8.8 Japan CCS Company
8.9 Mitsubishi Heavy Industries Ltd
8.10 NRG Energy
8.11 Schlumberger
8.12 Shell
8.13 Siemens AG
8.14 Sulzer Ltd
8.15 The Linde Group
*List not Exhaustive

9. Future of the Market

10. Disclaimer
**Subject to Availability of Public Domain
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  • Aker Solutions
  • Exxon Mobil
  • Fluor Corporation
  • Halliburton
  • Shell
  • Dakota Gasification Company
  • The Linde Group
  • Siemens AG
  • Sulzer Ltd
  • Mitsubishi Heavy Industries LTD
  • Japan CCS Company
  • General Electric
  • Schlumberger
  • NRG Energy
  • Honeywell International Inc.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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