The global carbon capture and storage market size was valued at $2.8 billion in 2022, and is projected to reach $4.3 billion by 2030, registering a CAGR of 6.5% during the forecast period (2023-2030). CCS technology involves trapping, transporting, and storing harmful carbon dioxide emissions from various sources. The capture of CO2 is usually performed through numerous procedures such as pre-combustion, oxy-fuel, post-combustion, industrial separation, or an amalgamation of various industrial processes. The seized CO2 is transferred by multiple modes such as pipelines and tankers for storage in deep aquifers or reservoirs beneath the earth’s surface. Numerous administrations are substantially investing in developing new alternatives to seize carbon from different sources efficiently. Besides, the organizations also focus on gathering insights regarding the new storage and utilization locations for sequestered gases. They also assist in developing numerous carbon capture technologies. For instance, in July 2020, the United States Department of Energy (DoE) declared a grant of USD 11.5 million for the Flexible Carbon Capture and Storage (FLECCS) project. The program aims to enable new natural gas power generator systems and renovate prevailing units with critical carbon capture and sequestration needs.
Browse the full report description of “Carbon Capture and Storage (CCS) Market Size, Share & Trends Analysis Report by Technology (Pre-Combustion Capture, Oxy-Fuel Combustion Capture, and Post-Combustion Capture), and by End-Use Industry (Oil & Gas, Power Generation, Iron & Steel, Chemical & Petrochemical, Cement, and Others) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/carbon-capture-and-storage-ccs-market
The industry has observed many small and large products & services providers serve carbon capture methods and storage technology. Various companies have depicted significant interest in entering into collaboration agreements to outline the competitive landscape. Chevron is increasingly concentrating on setting up new CCS stations and its partnerships with various key players to enhance its presence across the different stages of operations. For instance, in February 2020, Chevron partnered with Wave and Marubeni Corp by investing USD 16 million in Carbon Clean Solutions, situated in the U.K. The venture targets to develop advanced CCS systems for easy integration in remote locations at a lower price by 2022. Additionally, different governments have introduced strict action plans to stabilize climate change and diminish the overall carbon emissions in near and long-term periods. Stern activities to monitor and curb greenhouse gases (GHG) emissions from power generation facilities are set to further complement the market size.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered
o By Technology
o By End-Use Industry
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Shell CANSOLV, Dakota Gasification Company, Fluor Corporation, Mitsubishi Heavy Industries, Ltd., General Electric, NRG Energy, Inc., and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Carbon Capture and Storage (CCS) Market Report Segment
By Technology
By End-Use Industry
Global Carbon Capture and Storage (CCS) Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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