The Carbon Capture and Sequestration (CCS) market is expected to grow from USD 940 million in 2022 to USD 2245.8 million by 2032, at a CAGR of 9.1% during the forecast period 2023-2032.
The process of capturing carbon dioxide from fuel combustion or industrial processes, transporting it via ship or pipeline, and either using it as a resource to create valuable products or services or storing it permanently deep underground in geological formations is known as carbon capture, utilization, and storage. CCUS technologies also lay the groundwork for carbon removal or "negative emissions" when CO2 is produced by bio-based processes or straight from the atmosphere.
The global carbon capture and sequestration (CSS) market is being pushed primarily by a growing emphasis on lowering CO2 emissions, supporting government programs, and increasing demand for CO2-EOR techniques. To decrease the carbon footprint, governments in industrialized and developing countries such as the United States, the Netherlands, the United Kingdom, China, and India are constructing a huge number of CO2 capture and storage plants. Over the forecast period, this aspect is expected to fuel the carbon capture and sequestration (CSS) market growth. Furthermore, as technology advances, offshore oil and gas exploration and production activities increase, fueling the adoption of gas injection-enhanced oil recovery (EOR) techniques. The maturation and depletion of oil reservoirs will drive the implementation of gas injection EOR techniques for both onshore and offshore wells. As a result, the rising demand for CO2 for EOR activities in the oil and gas industry is likely to propel the carbon capture and sequestration (CSS) market during the forecast period.
This study delivers a comprehensive analysis of service, technology, end-user, and region. The service segment includes capture, utilization, transportation, and storage. The capture segment holds the largest market share in 2022. By hastening the worldwide transition to zero greenhouse gas emissions, carbon capture is important for ensuring a safe and stable climate. Carbon absorbed from the atmosphere includes emissions from offshore transportation. The technology segment includes oxy-fuel combustion capture, pre-combustion capture, and post-combustion capture. The post-combustion capture segment held the largest market share in 2022 due to the separation of CO2 from flue gas produced by combusting fossil fuels - coal, natural gas, or oil - in the air is known as post-combustion capture. Power consumption has expanded dramatically in developing economies such as China and India as a result of population growth, industrialization, and urbanization. The end-user segment includes oil & gas, iron & steel, power generation, cement, chemical & petrochemicals, and others. The oil & gas segment held the largest market share in 2022. As CCS aids in the recovery of oil from oil fields by altering the original characteristics of the oil using capture techniques such as chemical flooding, carbon dioxide injection, or thermal recovery. Primary shipping and maritime industries throughout the world are focusing on oil recovery from operations, which is propelling the segment's growth.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America holds the largest market share due to the growth of the North American carbon capture and sequestration market is driven by government interest in decreasing carbon emissions and encouraging renewable energy generation and development. The United States and Canada are two major countries that have widely used carbon management technology. The US government has authorized USD 369 billion to address climate change by August 2022, with USD 280 billion in new renewable energy tax credits. Furthermore, the US Department of Energy (DOE) invested USD 131 million in 33 R&D projects to increase the general adoption of carbon management technology to reduce CO2 emissions.
Some of the notable players in the market are Royal Dutch Shell PLC, Exxon Mobil Corporation, Fluor Corporation, Linde Plc, JGC Holdings Corporation, Schlumberger Limited, Aker Solutions, Honeywell International Inc., Mitsubishi Heavy Industries, Ltd., Halliburton and others.
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Service
4.3.2. Market Attractiveness Analysis by Technology
4.3.3. Market Attractiveness Analysis by End-User
4.3.4. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Rising industrialization
5.3. Restraints
5.3.1. High cost
5.4. Opportunities
5.4.1. Government initiatives
5.5. Challenges
5.5.1. Lack of awareness
6. Global Carbon Capture and Sequestration (CCS) Market Analysis and Forecast, By Service
6.1. Segment Overview
6.2. Capture
6.3. Utilization
6.4. Transportation
6.5. Storage
7. Global Carbon Capture and Sequestration (CCS) Market Analysis and Forecast, By Technology
7.1. Segment Overview
7.2. Oxy-Fuel Combustion Capture
7.3. Pre-Combustion Capture
7.4. Post-Combustion Capture
8. Global Carbon Capture and Sequestration (CCS) Market Analysis and Forecast, By End-User
8.1. Segment Overview
8.2. Oil & Gas
8.3. Iron & Steel
8.4. Power Generation
8.5. Cement
8.6. Chemical & Petrochemical
8.7. Others
9. Global Carbon Capture and Sequestration (CCS) Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Carbon Capture and Sequestration (CCS) Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in Global Carbon Capture and Sequestration (CCS) Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Royal Dutch Shell PLC
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Exxon Mobil Corporation
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Fluor Corporation
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. Linde Plc
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. JGC Holdings Corporation
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Schlumberger Limited
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Aker Solutions
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Honeywell International Inc.
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. Mitsubishi Heavy Industries, Ltd.
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. Halliburton
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
List of Table
1. Global Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
2. Global Capture, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
3. Global Utilization, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
4. Global Transportation, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
5. Global Storage, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
6. Global Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
7. Global Oxy-Fuel Combustion Capture, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
8. Global Pre-Combustion Capture, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
9. Global Post-Combustion Capture, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
10. Global Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
11. Global Oil & Gas, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
12. Global Iron & Steel, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
13. Global Power Generation, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
14. Global Cement, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
15. Global Chemical & Petrochemical, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
16. Global Others, Carbon Capture and Sequestration (CCS) Market, By Region, 2019-2032 (USD Million)
17. North America Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
18. North America Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
19. North America Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
20. U.S. Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
21. U.S. Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
22. U.S. Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
23. Canada Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
24. Canada Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
25. Canada Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
26. Mexico Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
27. Mexico Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
28. Mexico Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
29. Europe Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
30. Europe Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
31. Europe Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
32. Germany Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
33. Germany Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
34. Germany Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
35. France Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
36. France Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
37. France Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
38. U.K. Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
39. U.K. Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
40. U.K. Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
41. Italy Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
42. Italy Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
43. Italy Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
44. Spain Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
45. Spain Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
46. Spain Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
47. Asia Pacific Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
48. Asia Pacific Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
49. Asia Pacific Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
50. Japan Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
51. Japan Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
52. Japan Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
53. China Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
54. China Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
55. China Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
56. India Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
57. India Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
58. India Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
59. South America Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
60. South America Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
61. South America Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
62. Brazil Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
63. Brazil Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
64. Brazil Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
65. Middle East and Africa Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
66. Middle East and Africa Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
67. Middle East and Africa Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
68. UAE Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
69. UAE Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
70. UAE Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
71. South Africa Carbon Capture and Sequestration (CCS) Market, By Service, 2019-2032 (USD Million)
72. South Africa Carbon Capture and Sequestration (CCS) Market, By Technology, 2019-2032 (USD Million)
73. South Africa Carbon Capture and Sequestration (CCS) Market, By End-User, 2019-2032 (USD Million)
List of Figures
1. Global Carbon Capture and Sequestration (CCS) Market Segmentation
2. Global Carbon Capture and Sequestration (CCS) Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Carbon Capture and Sequestration (CCS) Market Attractiveness Analysis by Service
9. Global Carbon Capture and Sequestration (CCS) Market Attractiveness Analysis by Technology
10. Global Carbon Capture and Sequestration (CCS) Market Attractiveness Analysis by End-User
11. Global Carbon Capture and Sequestration (CCS) Market Attractiveness Analysis by Region
12. Global Carbon Capture and Sequestration (CCS) Market: Dynamics
13. Global Carbon Capture and Sequestration (CCS) Market Share by Service (2023 & 2032)
14. Global Carbon Capture and Sequestration (CCS) Market Share by Technology (2023 & 2032)
15. Global Carbon Capture and Sequestration (CCS) Market Share by End-User (2023 & 2032)
16. Global Carbon Capture and Sequestration (CCS) Market Share by Regions (2023 & 2032)
17. Global Carbon Capture and Sequestration (CCS) Market Share by Company (2022)
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