IMARC Group’s latest research report, titled “Carbon Capture and Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global carbon capture and storage market reached a value of US$ 2.25 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.09 Billion by 2027, exhibiting a CAGR of 10.20% during 2022-2027. Carbon capture and storage (CCS) represents the technique that is utilized for transporting, capturing, and storing industry-generated carbon emissions underground in geological formations. It assists in strengthening concrete for promoting infrastructural durability, producing geothermal energy, transforming carbon dioxide (CO2) into fuel, etc. Consequently, carbon capture and storage finds wide-ranging applications in manufacturing operations for producing chemicals and plastics. Presently, it is categorized based on the various technologies deployed, such as oxy-fuel, pre-combustion, post-combustion capture, etc.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by service, technology and end use industry.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Carbon Capture and Storage Market
- Strategies of major players and product offerings
The growing manufacturing sector is primarily driving the carbon capture and storage market. Additionally, the implementation of several stringent regulations by government bodies to limit greenhouse gas (GHG) emissions across various industries, including steel, oil and gas, chemical, etc., is further catalyzing the market growth. Besides this, the inflating popularity of carbon dioxide enhanced oil recovery (CO2-EOR) in the offshore oil and gas exploration activities for crude oil extraction purposes is acting as another significant growth-inducing factor. Moreover, the expanding R&D activities to engineer bioenergy carbon capture and storage (BECCS) are also positively influencing the global market. Apart from this, numerous other factors, including the increasing investments in upstream and downstream sectors and the introduction of sustainable CSS technology for improved oil recovery, are anticipated to fuel the carbon capture and storage market over the forecasted period.
Key Players Included in Global Carbon Capture and Storage Market Research Report:
- Air Liquide S.A.
- Aker Solutions ASA
- Baker Hughes Company
- Exxon Mobil Corporation
- Fluor Corporation
- General Electric Company
- Halliburton Company
- Honeywell International Inc.
- Linde plc
- Mitsubishi Heavy Industries Ltd.
- NRG Energy Inc.
- Occidental Petroleum Corporation
- Schlumberger Limited
- Shell plc and Siemens AG.
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Service:
Breakup by Technology:
- Post-combustion Capture
- Pre-combustion Capture
- Oxy-fuel Combustion Capture
Breakup by End Use Industry:
- Oil and Gas
- Coal and Biomass Power Plant
- Iron and Steel
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Carbon Capture and Storage Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Carbon Capture and Storage Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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