IMARC Group’s latest report, titled “Carbon Capture and Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, 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. offers a comprehensive analysis of the industry, which comprises insights on the Carbon Capture and Storage Market Share . The report also includes competitor and regional analysis, and contemporary advancements in the market.
Carbon capture and storage (CCS) is a widely used method for underground capturing, transporting, and storing industry-generated carbon dioxide in geological formations. The carbon emissions are transported through pipelines or ships to utilize or store to create valuable products or services. It helps in producing geothermal energy, transforming carbon dioxide (CO2) into fuel, and strengthen the concrete structure to improve infrastructure durability. Additionally, it is also used as the foundation for carbon removal when the CO2 comes directly from the bio-based or atmosphere processes. As a result, it has found extensive applications in the manufacturing of plastics and chemicals that are categorized based on varying technologies, such as pre-combustion, post-combustion, and oxy-fuel capture.
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Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- 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
- Siemens AG
Carbon Capture and Storage Market Demand:
The growing demand for carbon capture and storage (CCS) from the industrial sector majorly drives the global market. This can be attributed to the increasing utilization of CCS across manufacturing facilities. Along with this, the escalating number of government initiatives toward limiting greenhouse gas (GHG) emissions across various industries. For instance, governments of numerous countries are encouraging the implementation of CCUS through pilot projects on account of its ability to serve as a large-scale solution to climate control goals and decrease CO2 emissions is significantly supporting the market growth. Moreover, the accelerating demand for carbon dioxide-enhanced oil recovery (CO2-EOR) in offshore oil and gas exploration activities to extract crude oil is creating a positive market outlook. Some other factors driving the market include rapid industrialization and the advent of sustainable CCS technology.
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Key Market Segmentation:
Breakup by Service:
- Capture
- Transportation
- Storage
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
- Chemical
- Others
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)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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