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The Carbon Capture, Utilization, & Storage Market size was estimated at USD 5.04 billion in 2022, USD 5.94 billion in 2023, and is expected to grow at a CAGR of 21.02% to reach USD 23.22 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Carbon Capture, Utilization, and Storage (CCUS) is a set of advanced technologies to reduce greenhouse gas emissions by capturing carbon dioxide (CO2) from industrial processes and fossil fuel-based power generation. The captured CO2 is then utilized for various applications or safely stored in deep geological formations to prevent its release into the atmosphere. CCUS is critical in mitigating climate change, as it addresses one of the primary sources of global CO2 emissions. Growing industrialization, increasing demand for CO2-enhanced oil recovery techniques, and favorable government initiatives to support carbon capture, utilization & storage have significantly increased the demand for these technologies. However, huge capital requirements for carbon capture and specific storage facilities can hinder market growth. Furthermore, the continued investment in research and development is expected to drive technological advancements, leading to more cost-effective and efficient CCUS solutions. Additionally, collaborative efforts between governments, industries, and technology providers can facilitate knowledge sharing, cost sharing and accelerate the deployment of CCUS technologies.
Regional Insights
The APAC countries, including South Korea, China, Japan, and Australia, have shown increasing interest in CCUS technologies due to their growing energy demands and commitment to reducing greenhouse gas emissions. China has been a major player in CCUS development, with several pilot projects and demonstration facilities to capture and store CO2 emissions from industrial sources and power plants. Japan and South Korea have also been investing in CCUS initiatives, primarily to reduce emissions from heavy industries and utilize CO2 for enhanced oil recovery and other industrial applications. The United States has pioneered CCUS development, with several large-scale projects focused on capturing CO2 emissions from power plants and ethanol plants, among other industrial sources. The 45Q tax credit policy has incentivized CCUS investments in the region. In Latin America, countries including Brazil and Colombia have explored CCUS as part of their climate change mitigation strategies, with potential applications in industries including cement production.Furthermore, numerous countries in Europe, the Middle East & Africa (EMEA) have adopted ambitious climate targets that include boosting investment into CCUS technology. The European Union has set a goal to become carbon neutral by 2050 with plans to invest billions of euros toward low-carbon technologies such as CCUS. In the United Kingdom, an emphasis on industrial decarbonization has spurred interest in developing cluster-based approaches for carbon capture infrastructure. Countries, including Norway and the Netherlands, are also actively investing in large-scale CCS projects targeting various industries, including power generation and cement production.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Carbon Capture, Utilization, & Storage Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Carbon Capture, Utilization, & Storage Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Key Company Profiles
The report delves into recent significant developments in the Carbon Capture, Utilization, & Storage Market, highlighting leading vendors and their innovative profiles. These include Aker Solutions ASA, Atlas Copco AB, Baker Hughes Company, Bechtel Corporation, Carbon Clean Solutions Limited, Carbon Engineering Ltd., Chevron Corporation, COWI A/S, Eaton Corporation PLC, Exxon Mobil Corporation, Fluor Corporation, General Electric Company, Halliburton Company, Honeywell International Inc., Linde PLC, MAN Energy Solutions SE, McDermott International, Ltd., Mitsubishi Heavy Industries, Ltd., National Grid PLC, NOV Inc., PAO NOVATEK, SABIC Group, Saudi Arabian Oil Company, Schlumberger Limited, Shell PLC, Siemens AG, Svante Inc., and TotalEnergies SE.Market Segmentation & Coverage
This research report categorizes the Carbon Capture, Utilization, & Storage Market to forecast the revenues and analyze trends in each of the following sub-markets:- Service
- Capture
- Storage
- Transportation
- Utilization
- Technology
- Oxy-Fuel Combustion Capture
- Post-Combustion Capture
- Pre-Combustion Capture
- End-Use Industry
- Cement
- Chemical & Petrochemical
- Iron & Steel
- Oil & Gas
- Power Generation
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as
- What is the market size and forecast of the Carbon Capture, Utilization, & Storage Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Carbon Capture, Utilization, & Storage Market?
- What are the technology trends and regulatory frameworks in the Carbon Capture, Utilization, & Storage Market?
- What is the market share of the leading vendors in the Carbon Capture, Utilization, & Storage Market?
- Which modes and strategic moves are suitable for entering the Carbon Capture, Utilization, & Storage Market?
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Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Carbon Capture, Utilization, & Storage Market, by Service
7. Carbon Capture, Utilization, & Storage Market, by Technology
8. Carbon Capture, Utilization, & Storage Market, by End-Use Industry
9. Americas Carbon Capture, Utilization, & Storage Market
10. Asia-Pacific Carbon Capture, Utilization, & Storage Market
11. Europe, Middle East & Africa Carbon Capture, Utilization, & Storage Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix
List of Figures
List of Tables
Companies Mentioned
- Aker Solutions ASA
- Atlas Copco AB
- Baker Hughes Company
- Bechtel Corporation
- Carbon Clean Solutions Limited
- Carbon Engineering Ltd.
- Chevron Corporation
- COWI A/S
- Eaton Corporation PLC
- Exxon Mobil Corporation
- Fluor Corporation
- General Electric Company
- Halliburton Company
- Honeywell International Inc.
- Linde PLC
- MAN Energy Solutions SE
- McDermott International, Ltd.
- Mitsubishi Heavy Industries, Ltd.
- National Grid PLC
- NOV Inc.
- PAO NOVATEK
- SABIC Group
- Saudi Arabian Oil Company
- Schlumberger Limited
- Shell PLC
- Siemens AG
- Svante Inc.
- TotalEnergies SE
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 194 |
| Published | March 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 5.94 Billion |
| Forecasted Market Value ( USD | $ 23.22 Billion |
| Compound Annual Growth Rate | 21.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 28 |
