The report “Carbon Capture, Utilization, and Storage Market by Service (Capture, Transportation, Utilization, Storage), Technology (Chemical Looping, Solvents & Sorbent, Membranes), End-Use Industry, and Region – Global Forecast to 2030″, for carbon capture, utilization, and storage is expected to grow at an average CAGR of 24.0%, from USD 3.1 billion in 2023 to USD 12.9 billion in 2030. In order to minimize carbon emissions into the atmosphere, carbon capture, utilization, and storage techniques are primarily used in the oil and gas, power generation, and chemical and petrochemical sectors. Many countries all across the world have proposed deploying this technology to reduce carbon emissions and handle climate change. The market for carbon capture, utilization, and storage is being driven by government initiatives aimed at achieving net zero emissions.
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• 312 Market data Tables
• 71 Figures
• 286 Pages and in-depth TOC on “Carbon Capture, Utilization, and Storage Market – Global Forecast to 2030″
• 71 Figures
• 286 Pages and in-depth TOC on “Carbon Capture, Utilization, and Storage Market – Global Forecast to 2030″
Some of the prominent key players are:
- Royal Dutch Shell (Netherlands),
- Fluor Corporation (US),
- Mitsubishi Heavy Industries, Ltd. (Japan),
- Exxon Mobil Corporation (US),
- Linde Plc (UK),
- JGC Holdings (Japan), and many more….
Driver: Growing Focus On Reducing Co2 Emissions
Carbon capture, utilization, and storage technology is deployed to capture CO2 from various sources and transport it to the areas where it can be utilized or stored. Dependence over fossil fuels for the energy needs is the major source for carbon emission into the atmosphere. The CCUS technology can reduce the greenhouse gas emission into the atmosphere from the industrial sources. The growing concern over climate change globally, has factored the adoption of CCUS in a positive way. For an inssstance, US government had issued an executive order to achieve generation of 100% carbon-free electricity by 2030.
