openPR Logo
Press release

Carbon Capture, Utilization, and Storage (CCUS) Market Projected to grow at 13.3% CAGR To 2032

05-16-2024 09:51 AM CET | Energy & Environment

Press release from: Allied Analytics LLP

Carbon Capture, Utilization, and Storage (CCUS) Market

According to a new report published by Allied Market Research, the global carbon capture, utilization, and storage (CCUS) market was valued at $3 billion in 2022, and is estimated to reach $10.3 billion by 2032, growing at a CAGR of 13.3% from 2023 to 2032.

Carbon Capture, utilization, and storage (CCUS) is an emission reduction process, which is intended to prevent large amounts of carbon dioxide being released into the environment. The technology involves collection, transportation and injection of the carbon di oxide so that it would not escape in the atmosphere.

Click Here to Request PDF: https://www.alliedmarketresearch.com/request-sample/A12116

North America dominated the market in 2022, garnering more than two-fifths of the total share. The presence of robust manufacturing sector and significant investments toward the economic development have made North America one of the major stakeholders across the globe.

Europe carbon capture, utilization, and storage (CCUS) market is projected to grow at the highest CAGR of 14.4% in terms of revenue.

The major players studied and profiled in the global carbon capture, utilization, and storage (CCUS) industry are Royal Dutch Shell PLC, Fluor Corporation, Mitsubishi Heavy Industries, Ltd., Linde Plc, Exxon Mobil Corporation, JGC Holdings Corporation, Schlumberger Limited, Aker Solutions, Honeywell International Inc., and Halliburton. Other players operating in this market include C-Capture Ltd., Tandem Technical, Carbicrete, Hitachi, Ltd., Siemens AG, General Electric, Total S.A., and Equinor ASA.

Demand for carbon capture, utilization, and storage has witnessed tremendous growth driven by increasing penetration in end-use industries such as oil & gas, power generation, iron & steel, chemical & petrochemical, cement, and others.

Click Here to Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A12116

Some of the major factors that drive the demand for carbon capture, utilization, and storage include growing focus on reducing CO2 emissions, supporting government initiatives and increasing demand for CO2-EOR techniques.

Large number of upcoming projects in Asia-Pacific and Europe region and continuous investments in developing innovative capturing technologies enabling economic operations are expected to provide growth opportunities for the carbon capture, utilization, and storage market during the forecast period.

The process involves three main steps and technologies such as capture, which includes separation of CO2 from gases produced from different procedures. Secondly, it involves transport, which is transportation of the captured CO2 to a suitable site for storage with the help of pipeline, trucks, and ships. The last step is storage, which involves injection of CO2 into underground rock formation, deep wells, and depleted reservoirs.

All industry players are investing heavily to find new commercial avenues for their product segments via investment, contracts, and partnerships. For instance, Shell is a giant MNC and has undertaken several CCSU pilot projects which include the world's largest CCSU project, in Alberta, Canada. As result of a partnership between Shell, Canada Energy and Chevron, Quest was formed, which is a fully integrated CCSU project.

Get a Customized Research Report: https://www.alliedmarketresearch.com/request-for-customization/A12116

In the oil sands industry, Quest has come up as the first commercial application of CCSU. It has been designed to capture, transport and store deep underground above one million tons of carbon dioxide. Chevron is also leading a CCSU project, where natural gas will travel through undersea pipelines to a liquefied natural gas plant at the Gorgon gas fields in the Western Australia.

High cost of carbon capture and storage and decreasing crude oil prices are expected to hamper the growth of the carbon capture, utilization, and storage market during the forecast period.

The capture service segment dominated the global carbon capture, utilization, and storage market with 70.0% of the share in terms of revenue. Increase in adoption of this service due to surge in CO2 emission from various industrial verticals such as oil & gas, power generation, iron & steel, chemical & petrochemical, and cement.

The post-combustion capture segment dominated the global carbon capture, utilization, and storage market with around 45.8% of the share in terms of revenue. Surge in adoption of this technology from coal and gas power generation plants across the globe to capture the carbon and to reduce the carbon foot print.

The oxy-fuel combustion capture segment is projected to grow at the highest CAGR of 14.4% in terms of revenue.

Buy This Report (210 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/4aqea4y

The oil & gas segment dominated the global carbon capture, utilization, and storage market with 57.6% of the share in terms of revenue. Surge in consumption of carbon dioxide for enhanced oil recovery.

Trending Reports in Energy and Power Industry:

Carbon Capture and Storage (CCS) in Power Generation Market

https://www.prnewswire.com/news-releases/carbon-capture-and-storage-ccs-in-power-generation-market-to-reach-450-5-million-globally-by-2032-at-11-7-cagr-allied-market-research-302113010.html

Carbon Capture, Utilization, and Storage (CCUS) Market

https://www.prnewswire.com/news-releases/carbon-capture-utilization-and-storage-ccus-market-to-reach-10-3-billion-globally-by-2032-at-13-3-cagr-allied-market-research-302109150.html

Carbon Credits Market

https://www.globenewswire.com/news-release/2023/06/29/2697091/0/en/Carbon-Credits-Market-to-Garner-143-5-Billion-Globally-by-2032-at-55-5-CAGR-Allied-Market-Research.html

Green Hydrogen Market

https://www.prnewswire.com/news-releases/green-hydrogen-market-to-reach-143-8-billion-globally-by-2032-at-50-3-cagr-allied-market-research-302016777.html

Electrolyzer Market

https://www.prnewswire.com/news-releases/electrolyzer-market-to-reach-34-4-billion-globally-by-2032-at-27-2-cagr-allied-market-research-302013439.html

David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.Int'l: +1-503-894-6022Toll Free: +1-800-792-5285Fax: +1-800-792-5285help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog:

https://blog.alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Carbon Capture, Utilization, and Storage (CCUS) Market Projected to grow at 13.3% CAGR To 2032 here

News-ID: 3498947 • Views:

More Releases from Allied Analytics LLP

Syngas Market Analysis: Top Players and Strategies for 2024
Syngas Market Analysis: Top Players and Strategies for 2024
According to a new report published by Allied Market Research, The global syngas market was valued at $43.6 billion in 2019, and is projected to reach $66.5 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027. Players analyzed and profiled in the global syngas market Air Liquide, Air Products and Chemicals Inc., BASF SE, John Wood Group, Royal Dutch Shell, Sasol Limited, Siemens, Syngas Energy Holdings, SynGas
Solar Battery Market Projected to grow at 15.5% CAGR To 2027
Solar Battery Market Projected to grow at 15.5% CAGR To 2027
According to a new report published by Allied Market Research, The global solar battery market size was valued at $113.4 million in 2019, and is projected to reach $360.4 million by 2027, growing at a CAGR of 15.5% from 2020 to 2027. Some of the key players profiled in the report include BYD Company, Kokam.Co, Carnegie Clean Energy, Primus Power, LG Chem, and EnerSys. Asia-Pacific dominated the solar battery market with more
Gas Meter Market Projected to grow at 6.6% CAGR To 2028
Gas Meter Market Projected to grow at 6.6% CAGR To 2028
According to a new report published by Allied Market Research, The global gas meter market revenue was valued at $5.8 billion in 2020, and is projected to reach $9.7 billion by 2028, growing at a CAGR of 6.6% from 2021 to 2028. Some of the key players profiled in the report include General Electric, Itron, Elster, Landis+Gyr, ABB, Aclara, and Badger Meter. Get Report Sample PDF @ https://www.alliedmarketresearch.com/request-sample/11718 Asia-Pacific would exhibit a CAGR
Commercial Boiler Market Projected to grow at 4.2% CAGR To 2030
Commercial Boiler Market Projected to grow at 4.2% CAGR To 2030
According to a new report published by Allied Market Research, The global commercial boiler market size was valued at $1.9 billion in 2020, and is projected to reach $2.8 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030. The major companies profiled in this commercial boiler market include A.O. Smith Corporation, Bosch Thermotechnology, Cochran Limited, Cleaver-Brooks, Fulton Boiler Company, Parker Boiler, Slant/Fin Corporation, Superior Boiler Works, Inc.,

All 5 Releases


More Releases for CCUS

Global and United States Carbon Capture, Utilisation and Storage (CCUS) Market t …
ReportsnReports publishes the report titled Carbon Capture, Utilisation and Storage (CCUS) that presents a 360-degree overview of the market under one roof. The report is developed with the meticulous efforts of an enthusiastic and experienced team of experts, analyts, and researchers that makes the report a valuable asset for stakeholders to make robust decisions. This report also provides an in-depth overview of product type, specification, technology, and production analysis considering
Carbon Capture, Utilisation and Storage (CCUS) Market Analysis, Key Company Prof …
The Carbon Capture, Utilisation and Storage (CCUS) market research report is proficient and top to bottom research by specialists on the current state of the industry. This statistical surveying report gives the most up to date industry information and industry future patterns, enabling you to distinguish the items and end clients driving income development and benefit. It centres around the real drivers and restrictions for the key players and present
Carbon Capture, Utilization, and Storage Market Will Surpass $17,835.6 Million W …
By 2030, the carbon capture, utilization, and storage market are expected to generate $17,835.6 million value, from $2,037.0 million in 2021. The increasing emphasis on lowering carbon emissions, the government plans to achieve carbon neutrality in 2050, and the growing demand for CO2-EOR methods are the main drivers cited for the market's rise. Startups engaged in the creation of cutting-edge carbon capture technology are receiving funding from investors and venture capital
Carbon Capture, Utilization, and Storage (CCUS) Market Foreseen to grow exponent …
The global carbon capture, utilization, and storage market is projected to reach $7.0 billion by 2030, growing at a CAGR of 13.8% from 2021 to 2030. Demand for carbon capture, utilization, and storage has witnessed tremendous growth driven by increasing penetration in end-use industries such as oil & gas, power generation, iron & steel, chemical & petrochemical, cement, and others. All industry players are investing heavily to find new commercial
Carbon Capture, Utilization, and Storage Market worth $3.5 billion by 2025 | Key …
According to recent market research "Carbon Capture, Utilization, and Storage Market by Service (Capture, Transportation, Utilization, Storage), End-Use Industry (Oil & Gas, Iron & Steel, Cement, Chemical & Petrochemical, Power Generation), and Region - Global Forecast to 2025", The global carbon capture, utilization, and storage market size is expected to grow from USD 1.6 billion in 2020 to USD 3.5 billion by 2025, at a CAGR of 17.0% during the
Carbon Capture, Utilization, and Storage Market | Key players operating in the m …
According to recent market research "Carbon Capture, Utilization, and Storage Market by Service (Capture, Transportation, Utilization, Storage), End-Use Industry (Oil & Gas, Iron & Steel, Cement, Chemical & Petrochemical, Power Generation), and Region - Global Forecast to 2025", The global carbon capture, utilization, and storage market size is expected to grow from USD 1.6 billion in 2020 to USD 3.5 billion by 2025, at a CAGR of 17.0% during the