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Carbon Capture and Storage (CCS) Market Detailed Analysis of
Current Industry Figures with Forecast to 2030
Carbon Capture and Storage (CCS) Market research
report by Delvens focuses on primary sections such as – market segments, market
outlook, competitive landscape, and company profiles. The segments provide
details in terms of various perspectives such as end-use industry, product or
service type, and any other relevant segmentation as per the market’s current
scenario which includes various aspects to perform further marketing activity,
the global Carbon Capture and Storage (CCS) market size was estimated at USD
2.80 billion in 2023 and is projected to reach USD 7.35 billion in 2030 at a
CAGR of 14.8% during the forecast period to 2030.
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Report: https://www.delvens.com/get-free-sample/carbon-capture-and-storage-market
Carbon capture and storage (CCS) is a process that captures
carbon dioxide (CO2) emissions from industrial processes, stores them and uses
them to create new products or energy sources. The goal of CCS is to reduce the
amount of carbon dioxide emitted into the atmosphere and to find productive
ways to use this greenhouse gas.
Growing industrialization and increased investment in
production facilities are the main drivers of the global carbon capture and
storage market. In addition, the demand for carbon capture and storage will be
supported during the forecast period by several government initiatives to
reduce greenhouse gas emissions in several industries.
North America to
Dominate the Market
North America is estimated to account for the largest market
share during the forecast period.
In North America, the growing demand for clean technology,
accompanied by the growing use of CO2 in EOR practices, is likely to drive the
CCS market in countries like the United States and Canada.
Recent Developments
·
Malaysia state-owned oil and gas company
Petroleum Sarawak Bhd (Petros) signed an agreement with South Korean
steel-making company Posco Group to collaborate on the carbon capture and
storage (CCS) development business in a plant situated at Sarawak, Malaysia.
·
Oil and Natural Gas Corporation Limited (ONGC)
signed an agreement with Shell for cooperation in Carbon Capture, Utilization,
and Storage (CCUS) studies. The collaboration will focus on a joint CO2 storage
study and EOR screening assessment for key basins in India, including depleted
oil and gas fields and saline aquifers.
The Prominent Players
in the Carbon Capture and Storage (CCS) Market:
·
Air Liquide
·
Aker Solutions
·
Equinor ASA
·
Fluor Corp.
·
Sulzer Ltd.
·
Baker Hughes Company
·
Dakota Gasification Company
·
Exxon Mobil Corporation
·
Fluor Corporation
·
General Electric
·
Halliburton
·
Honeywell International Inc.
·
Japan CCS Co., Ltd.
·
LanzaTech
·
Linde plc
·
Mitsubishi Heavy Industries Ltd
·
NRG Energy Inc.
·
Occidental Petroleum Corporation
·
Shell plc.
·
Siemens Energy
·
SLB and More
Key Findings
·
The Technology segment is further fragmented
into Pre-combustion Capture, Oxy-fuel Combustion Capture, and Post-combustion
Capture. The pre-combustion capture technology is expected to account for a
larger market size during the forecast period. Pre-combustion CO2 capture
utilizing water gas shift reaction and removal with Acid Gas Removal (AGR)
process is currently being commercially practiced globally.
·
The End-user Industry segment is further
bifurcated into Power generation, Oil and Gas, Coal and Biomass Power Plant,
Iron and Steel, and Chemical. The Oil and Gas is the largest market during the
forecast period.
·
The market is also divided into various regions
such as North America, Europe, Asia-Pacific, South America, and Middle East and
Africa. North America is estimated to account for the largest market share
during the forecast period. In North America, the growing demand for clean
technology, accompanied by the growing use of CO2 in EOR practices, is likely
to drive the CCS market in countries like the United States and Canada.
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In addition to the
market data for the Carbon Capture and Storage (CCS) Market, Delvens offers
client-centric reports customized according to the company’s specific demand
and requirements.
More Related Reports:
Energy Storage Solutions (ESS) market
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