The global carbon capture, utilization, and storage is expected to grow from USD 2.1 billion in 2021 to USD 7.7 billion by 2026, at a CAGR of 29.8% during the forecast period. Increasing demand from various end-use industries is majorly driving the growth of the market. The carbon capture, utilization, and storage are used in natural gas, power generation, hydrogen, fertilizers, oil reefing, and various other industries. However, the negative impact of the COVID-19 pandemic on the end use industries has affected the carbon capture, utilization, and storage market adversely.
“The transportation service is the fastest-growing segment of carbon capture, utilization, and storage in terms of value.”
The transportation service segment is expected to witness high growth in the carbon capture, utilization, and storage market. Regions like North America and Europe have a wide network of CO2 transportation pipeline infrastructure setup which is boosting the growth of this service segment. Both US and Canada are actively investing in developing their transportation infrastructure for efficient and economical transport of CO2. Europe is also investing in developing its transportation infrastructure with projects like Northern Lights. COVID-19 pandemic had a minor impact on the implementation of these networks as funding and project implementation had very less variation due to the lockdowns.
“The power generation segment to be the fastest-growing end-use industry segment during the forecast period”
The power generation end-use industry is expected to increase the demand for carbon capture, utilization, and storage during the forecast period. The industry generates a massive amount of CO2 and hence attracts multiple stakeholders to reduce these emissions which significantly contributes towards the market growth of carbon capture, utilization, and storage. Furthermore, the power generation industry is growing at the fastest rate due to multiple projects that are in various stages of development planned to start operations by the mid-2020s.
“Europe to be the fastest-growing region in the carbon capture, utilization, and storage during the forecast period”
Europe is projected to be the fastest-growing region in the carbon capture, utilization, and storage and will expand significantly by 2026. This dominance is attributed to the upcoming projects like PORTHOS and CLEAN GAS in the Netherlands and the UK which will drive the carbon capture, utilization, and storage market in the region. The presence of two large-scale natural gas processing carbon capture, utilization, and storage facilities in the economies such as Norway is responsible for the fast growth of the region.
This study has been validated through primary interviews conducted with various industry experts globally.
These primary sources have been divided into the following three categories:
- By Company Type- Tier 1- 25%, Tier 2- 35%, and Tier 3- 40%
- By Designation- C Level- 25%, Director Level- 35%, and Executives- 40%
- By Region- North America- 20%, Europe- 35%, Asia Pacific (APAC) - 25%, South America-5s%, Middle East & Africa (MEA)-15%,
This report covers the global carbon capture, utilization, and storage and forecasts the market size until 2026. It includes the following market segmentation-By Service (Capture, Transportation, Storage, Utilization), End-Use Industry (Natural Gas, Power Generation, Hydrogen, Fertilizers, Oil Refining, Others), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast to 2026. Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global Carbon capture, utilization, and storage.
Key benefits of buying the report:
The report is expected to help market leaders/new entrants in this market in the following ways:
- This report segments the global carbon capture, utilization, and storage comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
- The report helps stakeholders understand the pulse of the carbon capture, utilization, and storage and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses.
- The competitive landscape section includes the competitor ecosystem, new product development, expansion, and acquisition.
Reasons To Buy the report:
The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall carbon capture, utilization, and storage and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.