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Carbon Capture and Storage (CCS) Market - Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2026)

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    Report

  • 172 Pages
  • January 2022
  • Region: Global
  • Fairfield Market Research
  • ID: 5552603
Rise in greenhouse gas emissions and its numerous health effects have birthed a wave of concern across a spectrum of industries. Fossil fuel-based power plants and industrial sources collectively account for more than 60% of carbon in the atmosphere. However, evolution of cutting-edge technologies alongside key policy developments are likely to shore up demand within the carbon capture and storage (CCS) market. The leading-edge technology is highly capable of capturing and storing CO2 emissions at pre-combustion and post-combustion levels. In this context, the bid for achieving net-zero outflows is expected to support growth within the global carbon capture and storage (CSS) market.

The global market for carbon capture and storage (CCS) is projected to be valued at US$ 9.42 Bn in 2026. Growing from a market value of US$ 4.17 Bn in 2020, the CCS market is projected to exhibit substantial growth at a CAGR of 15.7% over the forecast period.

Key Highlights of Carbon Capture and Storage Market


CCS possesses the ability to capture more than 90% of carbon dioxide (CO2) emissions and ward off carbon dioxide from entering the atmosphere. This can enable pragmatic and judicious use of carbon dioxide for specific industrial cases.

Industrial activities and burning of fossil fuels led to an outrush of above 30 billion metric tons of CO2 in 2019. CCS technology was successfully able to capture almost 35MT of carbon dioxide emissions.

Currently, 0.1-0.2% of carbon dioxide released from industries and power plants across the globe is captured and stored using CSS technology. However, as the technology matures, this share is expected to increase in the times to follow.

Need for Efficient Utilization of CO2 Pulls Oil & Gas Companies Towards Carbon Capture and Storage (CCS)


With a market share of 61% in 2020, enhanced oil recovery (EOR) is anticipated to lead the worldwide carbon capture and storage industry. The majority of CO2 collected is used by oil and gas firms for EOR processes and blue hydrogen synthesis. Much of the CO2 injected into the oil reservoir is only briefly held in most CO2 EOR projects. Decommissioning an EOR project more precisely entails "blowing down" the reservoir pressure in order to maximize the quantity of recoverable oil. As a result, just a little quantity of CO2 infused into the stationary oil remains dissolved. This is why some people are skeptical of EOR as a long-term storage solution. Thus, prominent use of CO2 in exploration and production makes it a prime end user industry of carbon capture and storage.

Acquisition of Numerous Commercial-CCS Projects Gives Market Supremacy to Europe


With more than 11 commercial CSS projects, Europe has geared up to gain ascendancy over others in the market by 2030. The region garnered 13 commercial facilities that are either up and running or in different phases of development. The EU's US$ 11.32 bn Innovation fund is expected to act as a key bankroller for planning, construction, and CCS operations. Subsequently, the carbon capture and storage (CCS) market in Europe is expected to propel growth for the forthcoming years.

The most competent market players for carbon capture and storage (CCS) are Siemens Carbon Engineering Ltd., Air Products & Chemical Inc., AG, GE, Mitsubishi Heavy Industrial Ltd., Royal Dutch Shell plc, Air Liquid, Climeworks, Global Thermostat, and CO2 Solutions.

Table of Contents

1. Executive Summary
1.1. Global Carbon Capture & Storage (CCS) Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.2.4. Economic Trends
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis & PEST Analysis
2.5. Covid-19 Impact
2.5.1. Supply Chain
2.5.2. End-user Customer Impact Analysis
3. Global Carbon Capture & Storage (CCS) Operational and Future Projects, 2018 - 2026
3.1. List of Active/Operational CCS Projects
3.2. List of Under-construction/Upcoming CCS Projects
4. Global Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
4.1. Global Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
4.1.1. Key Highlights
4.1.1.1. Pre-combustion
4.1.1.2. Post-combustion
4.1.1.3. Oxy-fuel Combustion
4.1.2. BPS Analysis/Market Attractiveness Analysis, by Source
4.2. Global Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
4.2.1. Key Highlights
4.2.1.1. Pipeline
4.2.1.2. Ship/Tanker
4.2.1.3. Chemical Carrier Vehicle
4.2.2. BPS Analysis/Market Attractiveness Analysis, by Type
4.3. Global Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
4.3.1. Key Highlights
4.3.1.1. Enhanced Oil Recovery (EOR)
4.3.1.2. Dedicated Geological Storage
4.3.2. BPS Analysis/Market Attractiveness Analysis, by End-use
4.4. Global Carbon Capture & Storage (CCS) Market Outlook, by Region, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
4.4.1. Key Highlights
4.4.1.1. North America
4.4.1.2. Europe
4.4.1.3. Asia Pacific
4.4.1.4. Latin America
4.4.1.5. Middle East & Africa
4.4.2. BPS Analysis/Market Attractiveness Analysis, by Region
5. North America Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
5.1. North America Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
5.1.1. Key Highlights
5.1.1.1. Pre-combustion
5.1.1.2. Post-combustion
5.1.1.3. Oxy-fuel Combustion
5.2. North America Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
5.2.1. Key Highlights
5.2.1.1. Pipeline
5.2.1.2. Ship/Tanker
5.2.1.3. Chemical Carrier Vehicle
5.3. North America Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
5.3.1. Key Highlights
5.3.1.1. Enhanced Oil Recovery (EOR)
5.3.1.2. Dedicated Geological Storage
5.4. North America Carbon Capture & Storage (CCS) Market Outlook, by Country, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
5.4.1. Key Highlights
5.4.1.1. U.S. Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
5.4.1.2. Canada Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
6. Europe Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
6.1. Europe Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
6.1.1. Key Highlights
6.1.1.1. Pre-combustion
6.1.1.2. Post-combustion
6.1.1.3. Oxy-fuel Combustion
6.2. Europe Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
6.2.1. Key Highlights
6.2.1.1. Pipeline
6.2.1.2. Ship/Tanker
6.2.1.3. Chemical Carrier Vehicle
6.3. Europe Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
6.3.1. Key Highlights
6.3.1.1. Enhanced Oil Recovery (EOR)
6.3.1.2. Dedicated Geological Storage
6.4. Europe Carbon Capture & Storage (CCS) Market Outlook, by Country, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
6.4.1. Key Highlights
6.4.1.1. Norway Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
6.4.1.2. U.K. Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
6.4.1.3. The Netherlands Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
6.4.1.4. Rest of Europe Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
7. Asia Pacific Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
7.1. Asia Pacific Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
7.1.1. Key Highlights
7.1.1.1. Pre-combustion
7.1.1.2. Post-combustion
7.1.1.3. Oxy-fuel Combustion
7.1.2. BPS Analysis/Market Attractiveness Analysis
7.2. Asia Pacific Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
7.2.1. Key Highlights
7.2.1.1. Pipeline
7.2.1.2. Ship/Tanker
7.2.1.3. Chemical Carrier Vehicle
7.3. Asia Pacific Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
7.3.1. Key Highlights
7.3.1.1. Enhanced Oil Recovery (EOR)
7.3.1.2. Dedicated Geological Storage
7.4. Asia Pacific Carbon Capture & Storage (CCS) Market Outlook, by Country, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
7.4.1. Key Highlights
7.4.1.1. China Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
7.4.1.2. Australia Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
7.4.1.3. South Korea Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
7.4.1.4. Rest of Asia Pacific Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
8. Latin America Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
8.1. Latin America Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
8.1.1. Key Highlights
8.1.1.1. Pre-combustion
8.1.1.2. Post-combustion
8.1.1.3. Oxy-fuel Combustion
8.2. Latin America Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
8.2.1. Key Highlights
8.2.1.1. Pipeline
8.2.1.2. Ship/Tanker
8.2.1.3. Chemical Carrier Vehicle
8.3. Latin America Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
8.3.1. Key Highlights
8.3.1.1. Enhanced Oil Recovery (EOR)
8.3.1.2. Dedicated Geological Storage
8.4. Latin America Carbon Capture & Storage (CCS) Market Outlook, by Country, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
8.4.1. Key Highlights
8.4.1.1. Brazil Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
8.4.1.2. Rest of Latin America Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
9. Middle East & Africa Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
9.1. Middle East & Africa Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
9.1.1. Key Highlights
9.1.1.1. Pre-combustion
9.1.1.2. Post-combustion
9.1.1.3. Oxy-fuel Combustion
9.2. Middle East & Africa Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
9.2.1. Key Highlights
9.2.1.1. Pipeline
9.2.1.2. Ship/Tanker
9.2.1.3. Chemical Carrier Vehicle
9.3. Middle East & Africa Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
9.3.1. Key Highlights
9.3.1.1. Enhanced Oil Recovery (EOR)
9.3.1.2. Dedicated Geological Storage
9.4. Middle East & Africa Carbon Capture & Storage (CCS) Market Outlook, by Country, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
9.4.1. Key Highlights
9.4.1.1. Saudi Arabia Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
9.4.1.2. UAE Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
9.4.1.3. Qatar Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
9.4.1.4. Rest of Middle East & Africa Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
10. Competitive Landscape
10.1. Company Market Share Analysis, 2020
10.2. Strategic Collaborations
10.3. Company Profiles
10.3.1. Siemens AG
10.3.1.1. Company Overview
10.3.1.2. Product Portfolio
10.3.1.3. Financial Overview
10.3.1.4. Business Strategies and Development
10.3.2. GE
10.3.2.1. Company Overview
10.3.2.2. Product Portfolio
10.3.2.3. Financial Overview
10.3.2.4. Business Strategies and Development
10.3.3. Babcock & Wilcox Enterprises, Inc.
10.3.3.1. Company Overview
10.3.3.2. Product Portfolio
10.3.3.3. Financial Overview
10.3.3.4. Business Strategies and Development
10.3.4. Mitsubishi Heavy Industries, Ltd.
10.3.4.1. Company Overview
10.3.4.2. Product Portfolio
10.3.4.3. Financial Overview
10.3.4.4. Business Strategies and Development
10.3.5. Air Liquide
10.3.5.1. Company Overview
10.3.5.2. Product Portfolio
10.3.5.3. Financial Overview
10.3.5.4. Business Strategies and Development
10.3.6. Linde AG
10.3.6.1. Company Overview
10.3.6.2. Product Portfolio
10.3.6.3. Financial Overview
10.3.6.4. Business Strategies and Development
10.3.7. Air Products & Chemicals, Inc.
10.3.7.1. Company Overview
10.3.7.2. Product Portfolio
10.3.7.3. Financial Overview
10.3.7.4. Business Strategies and Development
10.3.8. Climeworks
10.3.8.1. Company Overview
10.3.8.2. Product Portfolio
10.3.8.3. Financial Overview
10.3.8.4. Business Strategies and Development
10.3.9. Total SE
10.3.9.1. Company Overview
10.3.9.2. Product Portfolio
10.3.9.3. Financial Overview
10.3.9.4. Business Strategies and Development
10.3.10. Global Thermostat
10.3.10.1. Company Overview
10.3.10.2. Product Portfolio
10.3.10.3. Financial Overview
10.3.10.4. Business Strategies and Development
10.3.11. CO2 Solutions
10.3.11.1. Company Overview
10.3.11.2. Product Portfolio
10.3.11.3. Financial Overview
10.3.11.4. Business Strategies and Development
10.3.12. Carbon Engineering Ltd.
10.3.12.1. Company Overview
10.3.12.2. Product Portfolio
10.3.12.3. Financial Overview
10.3.12.4. Business Strategies and Development
10.3.13. Royal Dutch Shell
10.3.13.1. Company Overview
10.3.13.2. Product Portfolio
10.3.13.3. Financial Overview
10.3.13.4. Business Strategies and Development
11. Appendix
11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Siemens AG
  • GE
  • Babcock & Wilcox Enterprises, Inc.
  • Mitsubishi Heavy Industries, Ltd.
  • Air Liquide
  • Linde AG
  • Air Products & Chemicals, Inc.
  • Climeworks
  • Total SE
  • Global Thermostat
  • CO2 Solutions
  • Carbon Engineering Ltd.
  • Royal Dutch Shell plc

Methodology

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