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….
Opportunity: Continuous investments in developing innovative capturing technologies to create lucrative opportunities for the market
Continuous development of carbon capture technologies is important to maintain the cost-effectiveness of power generation and industrial plants. Growing investment in R&D and demonstration activities are being conducted to develop next-gen CO2 capture technologies. These technologies address three main issues: reducing the impact of CO2 capture on power generation capacity, improving the cost-effectiveness of CO2 capture technologies, and scaling up novel carbon capture technologies to the required level for full-scale development at power plants. These technologies have the potential to provide reductions in energy costs in comparison to traditional technologies.
