The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Carbon Capture & Storage Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Carbon Capture & Storage Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, Carbon Capture & Storage Market size is valued at USD 4.3 billion in 2024 and is projected to reach USD 12.9 billion in 2030. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.
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What is Included in Carbon Capture & Storage Market Segmentation?
The report has segmented the market into the following categories:
By Capture Technology
– Post Combustion Capture- Market Size & Forecast 2019-2030, USD Million
– – Pre-Combustion Capture- Market Size & Forecast 2019-2030, USD Million
– – Oxyfuel Technology- Market Size & Forecast 2019-2030, USD Million
– – Chemical Looping Combustion- Market Size & Forecast 2019-2030, USD Million
By Storage Technology
– Geological Storage- Market Size & Forecast 2019-2030, USD Million
– Depleted Oil and Gas Reservoirs- Market Size & Forecast 2019-2030, USD Million
– Un-mineable Coal Bed Storage- Market Size & Forecast 2019-2030, USD Million
– Saline Aquifers – Market Size & Forecast 2019-2030, USD Million
– Deep Ocean Storage- Market Size & Forecast 2019-2030, USD Million
By End User
– Biofuels- Market Size & Forecast 2019-2030, USD Million
– Food and Beverage- Market Size & Forecast 2019-2030, USD Million
– Pulp and Paper- Market Size & Forecast 2019-2030, USD Million
– Cement and Concrete- Market Size & Forecast 2019-2030, USD Million
– Iron and Steel- Market Size & Forecast 2019-2030, USD Million
– Textiles- Market Size & Forecast 2019-2030, USD Million
– Oil and Gas- Market Size & Forecast 2019-2030, USD Million
– Power Generation- Market Size & Forecast 2019-2030, USD Million
– Others (Chemicals, Fertilizers, etc.) – Market Size & Forecast 2019-2030, USD Million
Based on end-users, the oil and gas sector has held a leading share of the market due to the continuous rise in CO2 emission from the sector that requires carbon capture technologies. The already existing infrastructure of the sector in terms of pipelines and storage facilities is very much suitable for the deployment of CCS technologies, bringing down the costs and complexities for setting up new infrastructure. Moreover, the oil and gas sector has been one of the most prominent industrial areas that adopted enhanced oil recovery, which involves the injection of captured CO2 into oil fields for increased production. This twin advantage of reducing emissions while improving oil recovery has given incentive for large investments in CCS technologies in this sector. Also, large-scale CCS projects are extensively deployed in the oil and gas sector due to financial availability and technical expertise.
By Region
– North America
– South America
– Europe
– The Middle East & Africa
– Asia-Pacific
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Key Factor Driver Carbon Capture & Storage Industry Growth by 2030
Increasing Incorporation of CO2 in Enhanced Oil Recovery (EOR) Applications Proliferating Global Carbon Capture & Storage Market – Growing global demand for energy, coupled with declining production from mature oil fields, is driving the adoption of Enhanced Oil Recovery as a means of extending the life of oil reservoirs. The EOR technology efficiently utilizes the captured carbon to increase oil production. The captured CO2 when put in the oil reservoirs, efficiently works as a catalyst to boost the oil production. Owing to this, governments and industries around the world are recognizing the role of EOR in energy security and also fulfilling the climate objectives of emission reduction which is driving investment in the field of carbon capture and storage. For Instance,
Who are the Key Players Operating in the Carbon Capture & Storage Industry?
The top companies of the Carbon Capture & Storage market ruling the industry are:
- Shell Plc
- Halliburton Company
- Schlumberger Limited
- Aker Solutions
- Equinor ASA
- Chevron Corporation
- Carbon Engineering ULC
- Fluor Corporation
- Exxon Mobil Corporation
- Linde Plc
- Mitsubishi Heavy Industries Ltd.
- JGC Holdings Corporation
- TotalEnergies SE
- Honeywell International Inc.
- Climeworks
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FAQs (Frequently Ask Questions)
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- Which geographical area dominates the Carbon Capture & Storage industry?
- Which is the Leading segment in the market?
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