Global Carbon Capture and Storage Market 2022 Dynamics, Major Players, SWOT Analysis and Business Forecast to 2030

Global carbon capture and storage market is projected to be driven by growing environmental concerns pertaining to greenhouse gas emissions. High energy intensive processes involved in natural gas processing have increased greenhouse gas emission in the recent past. Proliferation in energy demand along with increasing carbon emissions from industrial facilities have augmented environmental pollution, which is majorly contributing in climate change. In addition, high penetration of coal fired power plant in power generation sector has majorly led to emission of toxic pollutants. Such environmental concerns have pushed various international governments and manufacturers to opt for carbon capture and storage units. Carbon capture and storage units are cost-effective solution to reduce carbon emission, especially from the processes which involves CO2 streams such as natural gas processing, hydrogen and ammonia production. Furthermore, these units offer significant value in terms for net zero transition as it can be retrofitted to existing industrial and power plants for reducing carbon emissions. Increasing necessity of reducing carbon emission along with growing inclination toward meeting climate goals has pushed end-users to opt for negative emission technologies. The global carbon capture and storage market is anticipated to witness a CAGR of 15.5% over the forecast period (2022 - 2030).

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According to the data published in the Energy Technology Perspective 2020 report, around 21 carbon capture and storage facilities are operational with the capacity of up to 40 MtCO2 per year. In 2009, International Energy Agency (IEA) emphasized a roadmap for carbon capture and storage to set a target of developing 100 projects between 2010 and 2020, which were expected to store up to 300 MtCO2 per year. However, albeit the roadmap target being currently met at 13%, carbon capture and storage units are gaining momentum with growth in pipeline projects, which are being underpinned by new policy incentives and strong climate targets. Moreover, industry growth triggered from 2015 Paris Agreement and IPCC report of 1.5°C has bolstered the carbon capture and storage demand as an efficient mitigating option. Hence, the growing adoption of net zero emission targets by companies has drawn attention to need for carbon capture and storage units, which is estimated to further proliferate the growth of carbon capture and storage market over the forecast period.

The industry faced significant impact during COVID-19 pandemic, as slump in economic activity has had impact on investment plans. Lower oil prices have undermined the carbon demand for enhanced oil recovery (EOR) applications, which subsequently hindered carbon capture and storage market growth. Despite of economic uncertainty and investments, the growth prospects for carbon capture and storage have been bolstered with new project developments and funding announcements in 2020. For instance, in March 2020, the UK government announced investment of USD 995 million in carbon capture and storage infrastructure. Moreover, Oil and Gas Climate Initiative (OGCI) announced investment in equipping carbon capture and storage unit for natural gas facilities in the U.S. Thus, growing investments along with development of new projects is further likely to drive carbon capture and storage market growth in the extended run.

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List of Major Players in Carbon Capture and Storage Market Report are:
Abu Dhabi National Oil Company
Aker Solutions
Chevron Corporation
Climeworks
Drax Group
Equinor ASA
Exxon Mobil Corporation
Japan CCS Co., Ltd.
Linde plc
Occidental Petroleum Corporation
Royal Dutch Shell plc
Schlumberger Limited.
Other Market Participants.

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Our 420+ Pages Report titled, Carbon Capture and Storage Market will include extensive information on the following pointers:

Global market size and forecast values (2015 - 2030), in terms of revenue (US$ Million) and volume (Kilotons) by segments/sub-segments
Split of the market revenue (US$ Million) and Volume (Kilotons) into all the relevant segments & sub-segments across all major regions/countries.
Years Considered (2015 - 2030)
(Historic Years: 2015 - 2020
Base Year: 2021
Forecast Years: 2022 - 2030)
Market determinants and Influencing Factors
Market Dynamics (Drivers, Restraints, Opportunities and Trends)
Analysis on Impact of Covid-19 on Global Carbon Capture and Storage Market
Macro-Economic and Micro-Economic Indicators
Porter's Five Forces Analysis
Regulatory Landscape
PESTEL Analysis
Competitive Benchmarking: Global Presence and Growth Strategies
(Mergers and Acquisitions
Product Launches
Investments Trends
R&D Initiatives)
Market Share Analysis, 2021
Detailed profiles of major market participants operating in the market, encompassing information pertaining to Company Details, Company Overview, Product Offerings, Key Developments, Financial Analysis, SWOT Analysis and Business Strategies
Region specific report, including North America, Europe, Asia Pacific, Middle East & Africa and Latin America, can also be provided.
The reports can be provided in different languages including German, Korean, Arabic, Russian, French, Japanese, Spanish, Chinese and other languages.

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Global Carbon Capture and Storage Market Segmentation:

By Technology
Pre-Combustion Capture
Oxyfuel Combustion Capture
Post Combustion Capture

By Industry
Chemicals
Biofuels
Refining
Natural Gas Processing
Iron and Steel
Power Generation
Cement
Others

By Region
North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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