Carbon Capture and Storage (CCS) Market
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)
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). Enhanced oil recovery (EOR) is a tertiary oil recovery method deployed to recover over 65% of the total recoverable oil in place not produced through primary and secondary phases. Rising measures to cut the maximum carbon dioxide levels generated from fossil fuel production and utilization boost the carbon capture and storage market. The requirement of significant capital cost to set up large-scale carbon capture and sequestration systems may obstruct the carbon capture and sequestration market growth. The exponentially increasing need for different chemicals to fabricate various raw materials and end-use products for a wide range of industries is likely to augment the chemicals source segment. Furthermore, the fertilizer production segment is also set to grow substantially over the forecast period due to the increasing use of high GHG emitting products such as ammonia & urea, thereby generating the need for handling excessive CO2 content.
Segmental Outlook
The global carbon capture and storage market is segmented based on the technology and end-use industry. Based on technology, the market is sub-segmented into pre-combustion capture, oxy-fuel combustion capture, and post-combustion capture. Based on the end-use industry, the market is segmented into oil & gas, power generation, iron & steel, chemical & petrochemical, cement, and others. Among the end-use industry segment, the oil and gas industry is expected to cater prominent market share over the forecast period.
The Oil and Gas Industry Sub-Segment is Anticipated to Hold a Prominent Share in the Global Carbon Capture and Storage (CCS) Market
The increasing number of enhanced oil recovery (EOR) projects is one of the most crucial factors favoring the adoption of CCS projects in the oil & gas industry. According to International Energy Agency, around 500 thousand barrels of oil are produced daily using CO2-EOR, representing around 20% of total oil production from EOR.
Regional Outlooks
The global carbon capture and storage (CCS) market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the Asia-Pacific regional market is expected to cater prominent growth over the forecast period, however, the North American region is projected to experience considerable growth in the carbon capture and storage market.
Global Carbon Capture and Storage (CCS) Market Growth, by Region 2023-2030
The Asia-Pacific Region is Expected to Hold Prominent Share in the Global Carbon Capture and Storage Market
North America is expected to hold a prominent share in the global industry due to the significant investments across research & development activities and the existence of different high-capacity carbon capture and sequestration plants. Additionally, funding initiatives from the regional governments have also favored regional expansion. Moreover, the carbon capture and storage market in Asia-Pacific is poised to show astonishing growth over the forecast period owing to the rising regional government focus on controlling industrial emissions from the food and beverages, cement, and chemical sectors. APAC is home to some of the most populous countries in the world, with many acting as manufacturing hubs for the rest of the world. Consequently, many countries in the region face high pollution levels, which presents an ideal growth opportunity for the market. In some countries, government efforts are being extensively aimed at carbon capture and sequestration initiatives towards applicable industries.
Market Players Outlook
The major companies serving the global carbon capture and storage (CCS) market include Shell CANSOLV, Dakota Gasification Company, Fluor Corporation, Mitsubishi Heavy Industries, Ltd., General Electric, NRG Energy, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2022, ExxonMobil, CNOOC, Shell, and China’s Guangdong Provincial Development & Reform Commission signed an MoU to assess the feasibility of a world-scale CCS project to reduce harmful emissions in the Guangdong Province, which is one of the country’s largest industrial areas.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global carbon capture and storage (CCS) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Carbon Capture and Storage Market by Technology
4.1.1. Pre-Combustion Capture
4.1.2. Oxy-Fuel Combustion Capture
4.1.3. Post-Combustion Capture
4.1.4. Others
4.2. Global Carbon Capture and Storage Market by End-Use Industry
4.2.1. Oil & Gas
4.2.2. Power Generation
4.2.3. Iron & Steel
4.2.4. Chemical & Petrochemical
4.2.5. Cement
4.2.6. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. ADNOC Group
6.2. Aker Solutions ASA
6.3. BP p.l.c.
6.4. Carbon Engineering Ltd.
6.5. Chevron Corp.
6.6. China National Petroleum Corp. (CNPC)
6.7. Dakota Gasification Co.
6.8. Equinor Group
6.9. Exxon Mobil Corp.
6.10. Fluor Corp.
6.11. General Electric
6.12. Linde plc
6.13. Mitsubishi Heavy Industries, Ltd.
6.14. NRG Energy, Inc.
6.15. Shell
6.16. TotalEnergies
1. GLOBAL CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY TECHNOLO-GY, 2022-2030 ($ MILLION)
2. GLOBAL CARBON PRE-COMBUSTION CAPTURE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL CARBON OXY-FUEL COMBUSTION CAPTURE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL CARBON POST-COMBUSTION CAPTURE MARKET RESEARCH AND ANALYSIS BY RE-GION, 2022-2030 ($ MILLION)
5. GLOBAL OTHER CARBON CAPTURE AND STORAGE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY END-USE IN-DUSTRY, 2022-2030 ($ MILLION)
7. GLOBAL CARBON CAPTURE AND STORAGE IN OIL & GAS INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL CARBON CAPTURE AND STORAGE IN POWER GENERATION INDUSTRY MARKET RE-SEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL CARBON CAPTURE AND STORAGE IN IRON & STEEL INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL CARBON CAPTURE AND STORAGE IN CHEMICAL & PETROCHEMICAL INDUSTRY MAR-KET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL CARBON CAPTURE AND STORAGE IN CEMENT INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL CARBON CAPTURE AND STORAGE IN OTHER INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2022-2030 ($ MILLION)
14. NORTH AMERICAN CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
15. NORTH AMERICAN CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
16. NORTH AMERICAN CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY END-USE INDUSTRY, 2022-2030 ($ MILLION)
17. EUROPEAN CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
18. EUROPEAN CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY TECH-NOLOGY, 2022-2030 ($ MILLION)
19. EUROPEAN CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY END-USE INDUSTRY, 2022-2030 ($ MILLION)
20. ASIA-PACIFIC CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY COUN-TRY, 2022-2030 ($ MILLION)
21. ASIA-PACIFIC CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY TECH-NOLOGY, 2022-2030 ($ MILLION)
22. ASIA-PACIFIC CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY END-USE INDUSTRY, 2022-2030 ($ MILLION)
23. REST OF THE WORLD CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
24. REST OF THE WORLD CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
25. REST OF THE WORLD CARBON CAPTURE AND STORAGE MARKET RESEARCH AND ANALYSIS BY END-USE INDUSTRY, 2022-2030 ($ MILLION)
1. GLOBAL CARBON CAPTURE AND STORAGE MARKET SHARE BY TECHNOLOGY, 2022 VS 2030 (%)
2. GLOBAL CARBON PRE-COMBUSTION CAPTURE MARKET SHARE BY GEOGRAPHY, 2022 VS 2030 (%)
3. GLOBAL CARBON OXY-FUEL COMBUSTION CAPTURE MARKET SHARE BY GEOGRAPHY, 2022 VS 2030 (%)
4. GLOBAL CARBON POST-COMBUSTION CAPTURE MARKET SHARE BY GEOGRAPHY, 2022 VS 2030 (%)
5. GLOBAL OTHER CARBON CAPTURE AND STORAGE TECHNOLOGY MARKET SHARE BY GEOGRA-PHY, 2022 VS 2030 (%)
6. GLOBAL CARBON CAPTURE AND STORAGE MARKET SHARE BY END-USE INDUSTRY, 2022 VS 2030 (%)
7. GLOBAL CARBON CAPTURE AND STORAGE IN OIL & GAS INDUSTRY MARKET SHARE BY GEOG-RAPHY, 2022 VS 2030 (%)
8. GLOBAL CARBON CAPTURE AND STORAGE IN POWER GENERATION MARKET SHARE BY GEOG-RAPHY, 2022 VS 2030 (%)
9. GLOBAL CARBON CAPTURE AND STORAGE IN IRON & STEEL INDUSTRY MARKET SHARE BY GE-OGRAPHY, 2022 VS 2030 (%)
10. GLOBAL CARBON CAPTURE AND STORAGE IN CHEMICAL & PETROCHEMICAL INDUSTRY MAR-KET SHARE BY GEOGRAPHY, 2022 VS 2030 (%)
11. GLOBAL CARBON CAPTURE AND STORAGE IN CEMENT INDUSTRY MARKET SHARE BY GEOGRA-PHY, 2022 VS 2030 (%)
12. GLOBAL CARBON CAPTURE AND STORAGE IN OTHER INDUSTRY MARKET SHARE BY GEOGRA-PHY, 2022 VS 2030 (%)
13. GLOBAL CARBON CAPTURE AND STORAGE MARKET SHARE BY GEOGRAPHY, 2022 VS 2030 (%)
14. US CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
15. CANADA CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
16. UK CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
17. FRANCE CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
18. GERMANY CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
19. ITALY CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
20. SPAIN CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
21. REST OF EUROPE CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
22. INDIA CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
23. CHINA CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
24. JAPAN CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
25. SOUTH KOREA CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
26. REST OF ASIA-PACIFIC CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
27. REST OF THE WORLD CARBON CAPTURE AND STORAGE MARKET SIZE, 2022-2030 ($ MILLION)
