Carbon Capture, Utilization, & Storage Market by Product Type, End-Users, & Geography (North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa): Global Industry Analysis, Size, Share, Growth, Trends, & Forecast, 2023-2030

Description

Persistence Market Research has recently released a comprehensive report on the worldwide market for carbon capture, utilization, and storage. The report offers a thorough assessment of crucial market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure. This research publication presents exclusive data and statistics outlining the anticipated growth trajectory of the global carbon capture, utilization, and storage market from 2023 to 2033.

The global carbon capture, utilization, and storage market is forecast to expand at a CAGR of 13.2% and thereby increase from a value of US$2.7 Bn in 2023, to US$6.6 Bn by the end of 2030.

Key Insights

Carbon Capture, Utilization, and Storage Market Size (2023E): US$2.7 Billion

Projected Market Value (2030F): US$6.6 Billion

Global Market Growth Rate (CAGR 2023 to 2030): 13.2%

Historical Market Growth Rate (CAGR 2018 to 2022): 14.1%

Carbon Capture, Utilization, and Storage Market - Report Scope

The carbon capture, utilization, and storage (CCUS) market is driven by the urgent need to reduce carbon emissions and combat climate change. It involves capturing CO2 from industrial processes, repurposing it for various applications, and securely storing it to prevent release. Key growth factors include global environmental concerns, emission reduction targets, and regulatory initiatives. Economic benefits, compliance with regulations, and fostering innovation contribute to market growth. Technology advancements, scalability, efficiency, and cost-effectiveness are crucial for CCUS evolution. Integration with industrial processes enhances economic viability, making CCUS a pivotal player in global climate change mitigation and sustainable development.

Market Growth Drivers for Carbon Capture, Utilization, and Storage:

The Carbon Capture, Utilization, and Storage (CCUS) market is experiencing higher growth due to global efforts to combat climate change. Governments and international agreements impose strict regulations, compelling industries to adopt CCUS technologies for emission reduction. The demand for carbon dioxide in Enhanced Oil Recovery (EOR) is a key driver, aligning with sustainable energy practices. Economic benefits, job creation, and technological innovation contribute to the appeal of CCUS investments. The transition to a low-carbon economy and ongoing research in improving efficiency and cost-effectiveness further boost market growth, making CCUS a critical component in addressing climate change and sustainable development.

Market Restraints

The performance of the CCUS market is influenced by regulatory frameworks, government policies, project funding, implementation costs, technological advancements, and public perception. Fluctuations in energy prices and economic conditions impact investment decisions. Overcoming challenges such as high upfront costs, regulatory uncertainties, and public acceptance issues requires a balanced approach involving effective policies, technological innovation, and economic considerations for sustainable market growth.

Market Opportunities

The CCUS market offers lucrative revenue opportunities through increased collaboration among governments, industries, and research institutions. Investing in R&D, pilot projects, and demonstration facilities encourages innovation and market expansion. Governments can incentivize private sector involvement with subsidies and tax credits. Integrating CCUS technologies with industrial processes and monetizing captured carbon dioxide in value-added products, such as chemicals and fuels, enhances revenue streams. International cooperation and partnerships can accelerate global CCUS deployment, fostering technology transfer and market growth across diverse regions. Key revenue drivers include technological innovation, private sector participation, carbon utilization, and international collaboration for a sustainable CCUS industry.

Key Questions Answered in Report::

Which region is expected to have a big part of the market in the future?
What are the main reasons that will increase the demand for carbon capture, utilization, and storage in the future?
How will ongoing trends affect the worldwide carbon capture, utilization, and storage market?
Who are the important companies in the market?
What are the important tactics used by major players to improve their positions in this field?

Competitive Intelligence and Business Strategy

Key players in the CCUS market, including Schlumberger Limited, Aker Solutions, Mitsubishi Heavy Industries, Ltd., and Fluor Corporation, are actively shaping competitive intelligence through strategic initiatives. This involves substantial investments in research and development for capture technologies, storage solutions, and utilization methods. Collaborations and partnerships are common to leverage strengths and drive innovation, with Aker Solutions strengthening its position through such alliances. Geographical expansion, securing large-scale project contracts, and forming alliances with governments and industry stakeholders are key strategies. The focus on sustainable practices aligns with global climate change initiatives, with companies aiming to provide comprehensive carbon management solutions to high-emission industries. Success in the evolving market is anticipated for companies adopting flexible and comprehensive strategies.

Key Companies Profiled
MITSUBISHI HEAVY INDUSTRIES
Schlumberger Limited
HONEYWELL INTERNATIONAL INC.
HALLIBURTON
JGC HOLDINGS CORPORATION
FLUOR CORPORATION
LINDE PLC
ROYAL DUTCH SHELL PLC
AKER SOLUTIONS

Carbon Capture, Utilization, and Storage Market Research Segmentation

Capture technology leads the CCUS market in revenue, playing a crucial role in preventing greenhouse gas emissions. Regulatory pressure, a focus on emission reduction, and widespread adoption contribute to its prominence. The demand for efficient carbon capture solutions is expected to remain high as industries prioritize sustainability, sustaining the dominance of capture technology.

In terms of end-use industries, the oil and gas sector is the largest revenue contributor in the CCUS market. Due to significant carbon emissions and regulatory pressure, the industry invests substantially in CCUS technologies to align with sustainability goals. Power generation is also rapidly growing as governments worldwide enforce stringent regulations, encouraging CCUS adoption to address environmental concerns.

North America leads the CCUS market with a strong commitment to environmental sustainability, advanced technological infrastructure, and increasing investments in carbon capture initiatives. The Middle East and Africa present significant opportunities, driven by a robust oil and gas industry's focus on sustainable practices to reduce carbon emissions.

By Service
Capture
Transportation
Utilization
Storage
By Technology:
Capture
Transportation
Utilization
Storage
By End Use Industry:
Oil & Gas
Power Generation
Iron & Steel
Chemical & Petrochemical
Cement
Others
By Region:
North America
Europe
East Asia
South Asia & Oceania
Latin America
Middle East & Africa

Product Code: PMRREP33677

1. Executive Summary

1.1. Global Carbon Capture, Utilization, and Storage (CCUS) Market Snapshot, 2023 and 2030
1.2. Market Opportunity Assessment, 2023 - 2030, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights Developments and Key Market Events
1.6. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Service Lifecycle Analysis
2.4. Carbon Capture, Utilization, and Storage (CCUS) Market: Value Chain
- 2.4.1. List of Raw Material Supplier
- 2.4.2. List of Manufacturers
- 2.4.3. List of Distributors
- 2.4.4. List of Applications
- 2.4.5. Profitability Analysis
2.5. Porter Five Force's Analysis
2.6. Geopolitical Tensions: Market Impact
2.7. Macro-Economic Factors
- 2.7.1. Global Sectorial Outlook
- 2.7.2. Global GDP Growth Outlook
- 2.7.3. Global Parent Market Overview
2.8. Forecast Factors - Relevance and Impact
2.9. Regulatory and Technology Landscape

3. Global Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

3.1. Key Highlights
- 3.1.1. Market Volume (Units) Projections
- 3.1.2. Market Size and Y-o-Y Growth
- 3.1.3. Absolute $ Opportunity
3.2. Market Size (US$ Mn) Analysis and Forecast
- 3.2.1. Historical Market Size Analysis, 2013-2016
- 3.2.2. Current Market Size Forecast, 2018-2026
3.3. Global Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: Service
- 3.3.1. Introduction / Key Findings
- 3.3.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Service, 2018 - 2022
- 3.3.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Service, 2023 - 2030
  - 3.3.3.1. Capture
  - 3.3.3.2. Transportation
  - 3.3.3.3. Utilization
  - 3.3.3.4. Storage
3.4. Market Attractiveness Analysis: Service
3.5. Global Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: Technology
- 3.5.1. Introduction / Key Findings
- 3.5.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Technology, 2018 - 2022
- 3.5.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Technology, 2023 - 2030
  - 3.5.3.1. Capture
  - 3.5.3.2. Transportation
  - 3.5.3.3. Utilization
  - 3.5.3.4. Storage
3.6. Market Attractiveness Analysis: Technology
3.7. Global Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: End-use Industry
- 3.7.1. Introduction / Key Findings
- 3.7.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By End-use Industry, 2018 - 2022
- 3.7.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
  - 3.7.3.1. Oil & Gas
  - 3.7.3.2. Power Generation
  - 3.7.3.3. Iron & Steel
  - 3.7.3.4. Chemical & Petrochemical
  - 3.7.3.5. Cement
  - 3.7.3.6. Others
3.8. Market Attractiveness Analysis: End-use Industry

4. Global Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: Region

4.1. Key Highlights
4.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Region, 2018 - 2022
4.3. Current Market Size (US$ Mn) and Volume (Units) Forecast By Region, 2023 - 2030
- 4.3.1. North America
- 4.3.2. Europe
- 4.3.3. East Asia
- 4.3.4. South Asia and Oceania
- 4.3.5. Latin America
- 4.3.6. Middle East & Africa (MEA)
4.4. Market Attractiveness Analysis: Region

5. North America Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

5.1. Key Highlights
5.2. Pricing Analysis
5.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 5.3.1. By Country
- 5.3.2. By Service
- 5.3.3. By Technology
- 5.3.4. By End-use Industry
5.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 5.4.1. U.S.
- 5.4.2. Canada
5.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Service, 2023 - 2030
- 5.5.1. Capture
- 5.5.2. Transportation
- 5.5.3. Utilization
- 5.5.4. Storage
5.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Technology, 2023 - 2030
- 5.6.1. Capture
- 5.6.2. Transportation
- 5.6.3. Utilization
- 5.6.4. Storage
5.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 5.7.1. Oil & Gas
- 5.7.2. Power Generation
- 5.7.3. Iron & Steel
- 5.7.4. Chemical & Petrochemical
- 5.7.5. Cement
- 5.7.6. Others
5.8. Market Attractiveness Analysis

6. Europe Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

6.1. Key Highlights
6.2. Pricing Analysis
6.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 6.3.1. By Country
- 6.3.2. By Service
- 6.3.3. By Technology
- 6.3.4. By End-use Industry
- 6.3.5. By End-use
6.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 6.4.1. Germany
- 6.4.2. France
- 6.4.3. U.K.
- 6.4.4. Italy
- 6.4.5. Spain
- 6.4.6. Russia
- 6.4.7. Turkiye
- 6.4.8. Rest of Europe
6.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Service, 2023 - 2030
- 6.5.1. Capture
- 6.5.2. Transportation
- 6.5.3. Utilization
- 6.5.4. Storage
6.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Technology, 2023 - 2030
- 6.6.1. Capture
- 6.6.2. Transportation
- 6.6.3. Utilization
- 6.6.4. Storage
6.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 6.7.1. Oil & Gas
- 6.7.2. Power Generation
- 6.7.3. Iron & Steel
- 6.7.4. Chemical & Petrochemical
- 6.7.5. Cement
- 6.7.6. Others
6.8. Market Attractiveness Analysis

7. East Asia Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 7.3.1. By Country
- 7.3.2. By Service
- 7.3.3. By Technology
- 7.3.4. By End-use Industry
- 7.3.5. By End-use
7.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 7.4.1. China
- 7.4.2. Japan
- 7.4.3. South Korea
7.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Service, 2023 - 2030
- 7.5.1. Capture
- 7.5.2. Transportation
- 7.5.3. Utilization
- 7.5.4. Storage
7.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Technology, 2023 - 2030
- 7.6.1. Capture
- 7.6.2. Transportation
- 7.6.3. Utilization
- 7.6.4. Storage
7.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 7.7.1. Oil & Gas
- 7.7.2. Power Generation
- 7.7.3. Iron & Steel
- 7.7.4. Chemical & Petrochemical
- 7.7.5. Cement
- 7.7.6. Others
7.8. Market Attractiveness Analysis

8. South Asia & Oceania Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 8.3.1. By Country
- 8.3.2. By Service
- 8.3.3. By Technology
- 8.3.4. By End-use Industry
- 8.3.5. By End-use
8.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 8.4.1. India
- 8.4.2. Southeast Asia
- 8.4.3. ANZ
- 8.4.4. Rest of South Asia & Oceania
8.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Service, 2023 - 2030
- 8.5.1. Capture
- 8.5.2. Transportation
- 8.5.3. Utilization
- 8.5.4. Storage
8.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Technology, 2023 - 2030
- 8.6.1. Capture
- 8.6.2. Transportation
- 8.6.3. Utilization
- 8.6.4. Storage
8.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 8.7.1. Oil & Gas
- 8.7.2. Power Generation
- 8.7.3. Iron & Steel
- 8.7.4. Chemical & Petrochemical
- 8.7.5. Cement
- 8.7.6. Others
8.8. Market Attractiveness Analysis

9. Latin America Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 9.3.1. By Country
- 9.3.2. By Service
- 9.3.3. By Technology
- 9.3.4. By End-use Industry
- 9.3.5. By End-use
9.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
9.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Service, 2023 - 2030
- 9.5.1. Capture
- 9.5.2. Transportation
- 9.5.3. Utilization
- 9.5.4. Storage
9.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Technology, 2023 - 2030
- 9.6.1. Capture
- 9.6.2. Transportation
- 9.6.3. Utilization
- 9.6.4. Storage
9.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 9.7.1. Oil & Gas
- 9.7.2. Power Generation
- 9.7.3. Iron & Steel
- 9.7.4. Chemical & Petrochemical
- 9.7.5. Cement
- 9.7.6. Others
9.8. Market Attractiveness Analysis

10. Middle East & Africa Carbon Capture, Utilization, and Storage (CCUS) Market Outlook: Historical (2018 - 2022) and Forecast (2023 - 2030)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Market, 2018 - 2022
- 10.3.1. By Country
- 10.3.2. By Service
- 10.3.3. By Technology
- 10.3.4. By End-use Industry
- 10.3.5. By End-use
10.4. Current Market Size (US$ Mn) and Volume (Units) Forecast By Country, 2023 - 2030
- 10.4.1. GCC
- 10.4.2. Egypt
- 10.4.3. South Africa
- 10.4.4. Northern Africa
- 10.4.5. Rest of Middle East & Africa
10.5. Current Market Size (US$ Mn) and Volume (Units) Forecast By Service, 2023 - 2030
- 10.5.1. Capture
- 10.5.2. Transportation
- 10.5.3. Utilization
- 10.5.4. Storage
10.6. Current Market Size (US$ Mn) and Volume (Units) Forecast By Technology, 2023 - 2030
- 10.6.1. Capture
- 10.6.2. Transportation
- 10.6.3. Utilization
- 10.6.4. Storage
10.7. Current Market Size (US$ Mn) and Volume (Units) Forecast By End-use Industry, 2023 - 2030
- 10.7.1. Oil & Gas
- 10.7.2. Power Generation
- 10.7.3. Iron & Steel
- 10.7.4. Chemical & Petrochemical
- 10.7.5. Cement
- 10.7.6. Others
10.8. Market Attractiveness Analysis

11. Competition Landscape

11.1. Market Share Analysis, 2022
11.2. Market Structure
- 11.2.1. Competition Intensity Mapping By Market
- 11.2.2. Competition Dashboard
- 11.2.3. Apparent Product Capacity
11.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 11.3.1. MITSUBISHI HEAVY INDUSTRIES
  - 11.3.1.1. Overview
  - 11.3.1.2. Segments and Product
  - 11.3.1.3. Key Financials
  - 11.3.1.4. Market Developments
  - 11.3.1.5. Market Strategy
- 11.3.2. Schlumberger Limited
  - 11.3.2.1. Overview
  - 11.3.2.2. Segments and Product
  - 11.3.2.3. Key Financials
  - 11.3.2.4. Market Developments
  - 11.3.2.5. Market Strategy
- 11.3.3. HONEYWELL INTERNATIONAL INC.
  - 11.3.3.1. Overview
  - 11.3.3.2. Segments and Product
  - 11.3.3.3. Key Financials
  - 11.3.3.4. Market Developments
  - 11.3.3.5. Market Strategy
- 11.3.4. HALLIBURTON
  - 11.3.4.1. Overview
  - 11.3.4.2. Segments and Product
  - 11.3.4.3. Key Financials
  - 11.3.4.4. Market Developments
  - 11.3.4.5. Market Strategy
- 11.3.5. JGC HOLDINGS CORPORATION
  - 11.3.5.1. Overview
  - 11.3.5.2. Segments and Product
  - 11.3.5.3. Key Financials
  - 11.3.5.4. Market Developments
  - 11.3.5.5. Market Strategy
- 11.3.6. FLUOR CORPORATION
  - 11.3.6.1. Overview
  - 11.3.6.2. Segments and Product
  - 11.3.6.3. Key Financials
  - 11.3.6.4. Market Developments
  - 11.3.6.5. Market Strategy
- 11.3.7. LINDE PLC
  - 11.3.7.1. Overview
  - 11.3.7.2. Segments and Product
  - 11.3.7.3. Key Financials
  - 11.3.7.4. Market Developments
  - 11.3.7.5. Market Strategy
- 11.3.8. ROYAL DUTCH SHELL PLC
  - 11.3.8.1. Overview
  - 11.3.8.2. Segments and Product
  - 11.3.8.3. Key Financials
  - 11.3.8.4. Market Developments
  - 11.3.8.5. Market Strategy
- 11.3.9. AKER SOLUTIONS
  - 11.3.9.1. Overview
  - 11.3.9.2. Segments and Product
  - 11.3.9.3. Key Financials
  - 11.3.9.4. Market Developments
  - 11.3.9.5. Market Strategy

12. Appendix

12.1. Research Methodology
12.2. Research Assumptions
12.3. Acronyms and Abbreviations