Carbon Capture And Storage Market
Carbon Capture and Storage Market Forecasts to 2030 - Global Analysis By Type (Cryogenic Units, Carbon Steel Pipelines, Injection Wells, Sensors and Detectors, Particulate Removal Systems and Other Types), Service, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Carbon Capture and Storage Market is accounted for $3.7 billion in 2024 and is expected to reach $6.4 billion by 2030 growing at a CAGR of 9.3% during the forecast period. Carbon capture and storage (CCS) is a technological process designed to reduce carbon dioxide (CO2) emissions from industrial sources, such as power plants and manufacturing facilities. The process involves three key steps: capturing CO2 from emissions, transporting it to a storage site, and permanently storing it underground in geological formations. During capture, CO2 is separated from other gases produced in industrial activities. It is then compressed and transported, typically via pipelines, to locations such as depleted oil and gas reservoirs or saline aquifers, where it can be securely stored.
According to the U.S. Department of Energy, in the recent past, the U.S. government started providing loans up to 80% of the cost for nascent stage CCS projects.
Market Dynamics:
Driver:
Demand for enhanced oil recovery
The demand for enhanced oil recovery (EOR) within the market is increasing due to its dual benefits of maximizing oil extraction and reducing carbon emissions. EOR techniques, such as CO2 injection, leverage captured carbon dioxide to improve oil recovery rates from aging reservoirs while simultaneously sequestering CO2 underground. This synergy supports energy security and environmental sustainability, driving investments and technological advancements in CCS to address climate change and enhance oil production efficiency.
Restraint:
Concerns over process efficiency
Concerns over process efficiency in the market can significantly hinder progress and adoption. Inefficient CCS processes may lead to increased costs, lower capture rates, and reduced overall effectiveness in mitigating carbon emissions. These inefficiencies can result in higher operational expenses and decreased economic viability, discouraging investment and slowing the development of critical technologies. Ultimately, this undermines efforts to combat climate change and impedes the transition to a more sustainable energy system.
Opportunity:
Growing focus on reducing CO2 emissions
The growing focus on reducing CO2 emissions is driving significant advancements in the market. As climate change concerns intensify, there is increased emphasis on technologies that capture and store carbon dioxide from industrial processes and power generation. This focus aims to mitigate greenhouse gas emissions, enhance environmental sustainability, and meet stringent regulatory targets. Investments in research and development are accelerating, leading to more efficient, scalable solutions that support global efforts to achieve net-zero emissions.
Threat:
High implementation costs
High implementation costs in the market pose significant barriers to widespread adoption. These elevated expenses can deter investment and slow the deployment of CCS technologies, limiting their potential to effectively reduce carbon emissions. The financial burden associated with installing and maintaining CCS systems may also impact the economic feasibility of projects, particularly for smaller operators. Consequently, this can impede progress towards climate goals and delay the transition to more sustainable energy practices.
Covid-19 Impact:
The market plays a crucial role in mitigating climate change by capturing and securely storing carbon dioxide emissions from industrial sources and power plants. This technology helps reduce greenhouse gas concentrations in the atmosphere, supporting global efforts to achieve climate targets and transition to a low-carbon economy. By enabling continued use of fossil fuels with reduced emissions, CCS also fosters energy security and promotes sustainable practices, driving technological innovation and economic opportunities in the process.
The carbon steel pipelines segment is expected to be the largest during the forecast period
The carbon steel pipelines is expected to be the largest during the forecast period. Their durability and strength make them suitable for handling high-pressure CO2, ensuring safe and efficient transport. However, the selection of carbon steel requires careful consideration of factors such as corrosion resistance and material integrity to prevent leaks and maintain system reliability. Effective management and maintenance of these pipelines are crucial for the successful implementation of CCS technologies.
The power generation segment is expected to have the highest CAGR during the forecast period
The power generation segment is expected to have the highest CAGR during the forecast period. Fossil fuel-based power plants, equipped with CCS systems, capture CO2 before it is released into the atmosphere, significantly lowering greenhouse gas emissions. This integration enhances the environmental performance of traditional power generation, supports regulatory compliance, and helps in the transition towards cleaner energy sources, thereby advancing global climate goals.
Region with largest share:
North America is projected to hold the largest market share during the forecast period driven by robust regulatory frameworks, significant investments, and technological advancements. The region benefits from abundant geological formations for CO2 storage and a strong focus on innovation in CCS technologies. This growth supports the transition to a low-carbon economy, enhances energy sustainability, and creates economic opportunities within the clean energy sector.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period due to increasing environmental regulations and a push towards sustainable industrial practices. The region’s geological formations, such as depleted oil and gas fields, provide suitable sites for CO2 storage. Government policies, international collaborations, and advancements in CCS technology are accelerating the deployment and integration of these solutions, supporting the transition to a low-carbon economy and enhancing energy sustainability in the region.
Key players in the market
Some of the key players in Carbon Capture and Storage market include SABIC, Shell, Carbfix hf., TotalEnergies, Chevron, Air Products and Chemicals, Inc., Carbon Clean Solutions, Mitsubishi Heavy Industries, Siemens Energy, Fluor Corporation, Linde plc, Tata Chemicals, BASF SE, Doosan Heavy Industries & Construction, Equinor, GE Carbon Capture and Technip Energies N.V.
Key Developments:
In February 2024, Carbfix hf. announced an expansion of its global footprint by launching a new carbon capture plant in Iceland. This plant is expected to capture 3,000 tons of carbon annually.
In June 2023, Technip Energies N.V. announced the launch of CaptureNow, which is a platform that brings all the carbon capture, storage, and utilization technologies under one platform.
Types Covered:
• Cryogenic Units
• Carbon Steel Pipelines
• Injection Wells
• Sensors and Detectors
• Particulate Removal Systems
• Other Types
Services Covered:
• Dental Bone Grafting
• Joint Reconstruction
• Capture
• Transportation
• Storage
• Utilization
Technologies Covered:
• Pre-Combustion Capture
• Post-Combustion Capture
• Oxy-Fuel Combustion
• Direct Air Capture
• Cryogenic Distillation
• Other Technologies
Applications Covered:
• Coal-Fired Power Plants
• Gas Processing
• Cement Production
• Oil Refining
• Chemical Manufacturing
• Other Applications
End Users Covered:
• Power Generation
• Oil & Gas
• Industrial Processes
• Refineries
• Pulp & Paper
• Biomass Energy
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Carbon Capture and Storage Market, By Type
5.1 Introduction
5.2 Cryogenic Units
5.3 Carbon Steel Pipelines
5.4 Injection Wells
5.5 Sensors and Detectors
5.6 Particulate Removal Systems
5.7 Other Types
6 Global Carbon Capture and Storage Market, By Service
6.1 Introduction
6.2 Capture
6.3 Transportation
6.4 Storage
6.5 Utilization
7 Global Carbon Capture and Storage Market, By Technology
7.1 Introduction
7.2 Pre-Combustion Capture
7.3 Post-Combustion Capture
7.4 Oxy-Fuel Combustion
7.5 Direct Air Capture
7.6 Cryogenic Distillation
7.7 Other Technologies
8 Global Carbon Capture and Storage Market, By Application
8.1 Introduction
8.2 Coal-Fired Power Plants
8.3 Gas Processing
8.4 Cement Production
8.5 Oil Refining
8.6 Chemical Manufacturing
8.7 Other Applications
9 Global Carbon Capture and Storage Market, By End User
9.1 Introduction
9.2 Power Generation
9.3 Oil & Gas
9.4 Industrial Processes
9.5 Refineries
9.6 Pulp & Paper
9.7 Biomass Energy
9.8 Other End Users
10 Global Carbon Capture and Storage Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 SABIC
12.2 Shell
12.3 Carbfix hf.
12.4 TotalEnergies
12.5 Chevron
12.6 Air Products and Chemicals, Inc.
12.7 Carbon Clean Solutions
12.8 Mitsubishi Heavy Industries
12.9 Siemens Energy
12.10 Fluor Corporation
12.11 Linde plc
12.12 Tata Chemicals
12.13 BASF SE
12.14 Doosan Heavy Industries & Construction
12.15 Equinor
12.16 GE Carbon Capture
12.17 Technip Energies N.V.
List of Tables
1 Global Carbon Capture and Storage Market Outlook, By Region (2022-2030) ($MN)
2 Global Carbon Capture and Storage Market Outlook, By Type (2022-2030) ($MN)
3 Global Carbon Capture and Storage Market Outlook, By Cryogenic Units (2022-2030) ($MN)
4 Global Carbon Capture and Storage Market Outlook, By Carbon Steel Pipelines (2022-2030) ($MN)
5 Global Carbon Capture and Storage Market Outlook, By Injection Wells (2022-2030) ($MN)
6 Global Carbon Capture and Storage Market Outlook, By Sensors and Detectors (2022-2030) ($MN)
7 Global Carbon Capture and Storage Market Outlook, By Particulate Removal Systems (2022-2030) ($MN)
8 Global Carbon Capture and Storage Market Outlook, By Other Types (2022-2030) ($MN)
9 Global Carbon Capture and Storage Market Outlook, By Service (2022-2030) ($MN)
10 Global Carbon Capture and Storage Market Outlook, By Capture (2022-2030) ($MN)
11 Global Carbon Capture and Storage Market Outlook, By Transportation (2022-2030) ($MN)
12 Global Carbon Capture and Storage Market Outlook, By Storage (2022-2030) ($MN)
13 Global Carbon Capture and Storage Market Outlook, By Utilization (2022-2030) ($MN)
14 Global Carbon Capture and Storage Market Outlook, By Technology (2022-2030) ($MN)
15 Global Carbon Capture and Storage Market Outlook, By Pre-Combustion Capture (2022-2030) ($MN)
16 Global Carbon Capture and Storage Market Outlook, By Post-Combustion Capture (2022-2030) ($MN)
17 Global Carbon Capture and Storage Market Outlook, By Oxy-Fuel Combustion (2022-2030) ($MN)
18 Global Carbon Capture and Storage Market Outlook, By Direct Air Capture (2022-2030) ($MN)
19 Global Carbon Capture and Storage Market Outlook, By Cryogenic Distillation (2022-2030) ($MN)
20 Global Carbon Capture and Storage Market Outlook, By Other Technologies (2022-2030) ($MN)
21 Global Carbon Capture and Storage Market Outlook, By Application (2022-2030) ($MN)
22 Global Carbon Capture and Storage Market Outlook, By Coal-Fired Power Plants (2022-2030) ($MN)
23 Global Carbon Capture and Storage Market Outlook, By Gas Processing (2022-2030) ($MN)
24 Global Carbon Capture and Storage Market Outlook, By Cement Production (2022-2030) ($MN)
25 Global Carbon Capture and Storage Market Outlook, By Oil Refining (2022-2030) ($MN)
26 Global Carbon Capture and Storage Market Outlook, By Chemical Manufacturing (2022-2030) ($MN)
27 Global Carbon Capture and Storage Market Outlook, By Other Applications (2022-2030) ($MN)
28 Global Carbon Capture and Storage Market Outlook, By End User (2022-2030) ($MN)
29 Global Carbon Capture and Storage Market Outlook, By Power Generation (2022-2030) ($MN)
30 Global Carbon Capture and Storage Market Outlook, By Oil & Gas (2022-2030) ($MN)
31 Global Carbon Capture and Storage Market Outlook, By Industrial Processes (2022-2030) ($MN)
32 Global Carbon Capture and Storage Market Outlook, By Refineries (2022-2030) ($MN)
33 Global Carbon Capture and Storage Market Outlook, By Pulp & Paper (2022-2030) ($MN)
34 Global Carbon Capture and Storage Market Outlook, By Biomass Energy (2022-2030) ($MN)
35 Global Carbon Capture and Storage Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
