Technology Strategy and Upcycling Support the Transition to Carbon Neutrality
Carbon capture, utilization, and storage (CCUS) will have a huge role to play in the global decarbonization trend of industries. As energy transition speeds up and impending deadlines for the carbon neutrality approach, the CCUS market will present dynamic growth opportunities across regions and industrial sectors until 2030.
In addition to the tremendous increase in CCUS investments, the demand for digital tools and solutions to drive process efficiency and safety is emerging. In this study, digital solutions for CCUS are categorized into 7 application layers: process optimization, maintenance support, energy management, asset integrity support, asset performance management (APM), remote services, and managed services.
All of these applications will gain traction as CCUS takes off and drives the decarbonization of hard-to-abate industries, such as coal-fired power plants, cement manufacturing, iron and steel, fertilizers, and chemical production by retrofitting the existing plants. To have a larger, long-term impact on decarbonization strategies, negative emission technologies, such as bioenergy CCS (BECCS) and direct air CCS (DACCS) should be deployed.
CCUS hubs will play a significant role by integrating various industrial clusters within the ecosystem and lower cost and operational risks. Innovation will focus on cost reduction, technology optimization, modularization, and new business models.
This study gives a comprehensive analysis of the global CCUS digital solutions market to 2030, including forecasts for revenues, carbon capture capacity, regional splits, trends by industry, competitive analysis, and growth opportunity identification.
