Dublin, Oct. 20, 2021 (GLOBE NEWSWIRE) -- The "Carbon Capture, Utilization, and Storage Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global carbon capture, utilization, and storage market.
This report focuses on carbon capture, utilization, and storage market which is experiencing strong growth. The report gives a guide to the carbon capture, utilization, and storage market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
The global carbon capture, utilization, and storage market is expected to grow from $1.30 billion in 2020 to $1.46 billion in 2021 at a compound annual growth rate (CAGR) of 12.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2.97 billion in 2025 at a CAGR of 19.6%.
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Where is the largest and fastest growing market for carbon capture, utilization, and storage? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Carbon Capture, Utilization, and Storage market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider carbon capture, utilization, and storage market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The carbon capture, utilization, and storage market section of the report gives context. It compares the carbon capture, utilization, and storage market with other segments of the carbon capture, utilization, and storage market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, carbon capture, utilization, and storage indicators comparison.
Major players in the carbon capture, utilization, and storage market are Exxon Mobil, Royal Dutch Shell, Aker Solutions, Linde, NRG Energy, Fluor, General Electric, Honeywell, Mitsubishi Heavy Industries, Dakota Gasification Company, Hitachi, JGC Holdings, Carbon Engineering, ADNOC Group, Equinor, China National Petroleum Corporation, Chevron, Total, Air Liquide, LanzaTech, and Occidental Petroleum.
The carbon capture, utilization, and storage market consist of sales of carbon capture, utilization, and storage technologies by entities (organizations, sole traders, and partnerships) that are engaged in providing clean and efficient energy solutions. Carbon capture, utilization, and storage (CCUS) is a set of methods and technologies for removing CO2 from flue gas and the atmosphere, recycling it for use, and establishing safe and long-term storage choices.
The main technologies involved in carbon capture, utilization, and storage are pre-combustion, post-combustion, oxy-fuel combustion. Pre-combustion capture is the process of extracting CO2 from fossil fuels before they are burned. The different services include capture, transportation, utilization, storage and is implemented in various verticals such as oil and gas, power generation, iron and steel, chemicals and petrochemicals, cement, others.
North America was the largest region in the carbon capture, utilization, and storage market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing investments by governments and organizations are an emerging trend in the carbon capture, utilization, and storage market. Major companies and governments are focusing on investing in carbon capture, utilization, and storage projects to reduce carbon emissions. For example, in July 2020, the US Department of Energy awarded FLExible Carbon Capture and Storage (FLECCS) project an $11.5 million grant to address key carbon capture and storage needs in the nation's power networks. The FLECCS project aims to facilitate the next generation of flexible, low-cost, and low-carbon power grids, as well as establish carbon capture and storage (CCS) retrofits for existing power generators that consume fossil carbon-containing fuels such as natural gas or biogas and generate electricity.
In November 2020, Baker Hughes, a US-based company that provides carbon capture and storage services acquired Compact Carbon Capture (3C) for an undisclosed amount. The acquisition reinforces Baker Hughes' strategic commitment to leading the energy transition by providing decarbonization solutions for carbon-intensive industries such as oil and gas, as well as broader industrial operations. Compact Carbon Capture (3C) is a Norway-based technology company specialized in the development of carbon capture solutions.
The increase in focus on reducing carbon dioxide (CO2) emissions across the globe is contributing to the growth of the carbon capture, utilization, and storage (CCUS) market. Carbon dioxide emissions rise as a result of burning fossil fuels such as oil or gas to power cars or create electricity, causing respiratory ailments and global warming by trapping heat. CCUS absorbs CO2 using a variety of technologies and uses or stores it instead of releasing it into the atmosphere. Countries and companies are trying to reduce carbon dioxide emissions to reduce global warming. For instance, according to the United Nations, 110 countries have committed to becoming carbon neutral by 2050. Furthermore, as per the International Energy Agency, in May 2020, three oil firms, Equinor, Shell, and Total, have pledged to invest $700 million in the Northern Light offshore CO2 storage project to decrease carbon dioxide emissions. Therefore, the increase in focus on reducing carbon dioxide emissions is driving the market for carbon capture, utilization, and storage market.
Key Topics Covered:
1. Executive Summary
2. Carbon Capture, Utilization, and Storage Market Characteristics
3. Carbon Capture, Utilization, and Storage Market Trends and Strategies
4. Impact Of COVID-19 On Carbon Capture, Utilization, and Storage
5. Carbon Capture, Utilization, and Storage Market Size and Growth
5.1. Global Carbon Capture, Utilization, and Storage Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Carbon Capture, Utilization, and Storage Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Carbon Capture, Utilization, and Storage Market Segmentation
6.1. Global Carbon Capture, Utilization, and Storage Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Carbon Capture, Utilization, and Storage Market, Segmentation by Service, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Carbon Capture, Utilization, and Storage Market, Segmentation by End-Use Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Carbon Capture, Utilization, and Storage Market Regional and Country Analysis
7.1. Global Carbon Capture, Utilization, and Storage Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Carbon Capture, Utilization, and Storage Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Carbon Capture, Utilization, and Storage Market
9. China Carbon Capture, Utilization, and Storage Market
10. India Carbon Capture, Utilization, and Storage Market
11. Japan Carbon Capture, Utilization, and Storage Market
12. Australia Carbon Capture, Utilization, and Storage Market
13. Indonesia Carbon Capture, Utilization, and Storage Market
14. South Korea Carbon Capture, Utilization, and Storage Market
15. Western Europe Carbon Capture, Utilization, and Storage Market
16. UK Carbon Capture, Utilization, and Storage Market
17. Germany Carbon Capture, Utilization, and Storage Market
18. France Carbon Capture, Utilization, and Storage Market
19. Eastern Europe Carbon Capture, Utilization, and Storage Market
20. Russia Carbon Capture, Utilization, and Storage Market
21. North America Carbon Capture, Utilization, and Storage Market
22. USA Carbon Capture, Utilization, and Storage Market
23. South America Carbon Capture, Utilization, and Storage Market
24. Brazil Carbon Capture, Utilization, and Storage Market
25. Middle East Carbon Capture, Utilization, and Storage Market
26. Africa Carbon Capture, Utilization, and Storage Market
27. Carbon Capture, Utilization, and Storage Market Competitive Landscape and Company Profiles
27.1. Carbon Capture, Utilization, and Storage Market Competitive Landscape
27.2. Carbon Capture, Utilization, and Storage Market Company Profiles
27.2.1. Exxon Mobil
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Royal Dutch Shell
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Aker Solutions
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Linde
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. NRG Energy
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers and Acquisitions in the Carbon Capture, Utilization, and Storage Market
29. Carbon Capture, Utilization, and Storage Market Future Outlook and Potential Analysis
30. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/uhetvk
