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Carbon Capture And Storage Market Size, Share & Trends Analysis Report By Technology, By Application (Power Generation, Oil & Gas), By Region, And Segment Forecasts, 2024 - 2030

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from $5,950 192 Pages Grand View Research July, 2024 GV19065909
Best Price Guarantee
Price from $5,950
Length 192 Pages
Publisher Grand View Research
Published Date July, 2024
SKU GV19065909

Carbon Capture And Storage Market Size, Share & Trends Analysis Report By Technology, By Application (Power Generation, Oil & Gas), By Region, And Segment Forecasts, 2024 - 2030


Carbon Capture And Storage Market Growth & Trends

The global carbon capture and storage market size is expected to reach USD 5.61 billion by 2030, expanding at a CAGR of 7.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth is attributed to the presence of favorable government policies and funding initiatives in the European Union (EU).

Increasing concerns regarding the detrimental effect of carbon emissions on the environment have prompted the adoption of carbon capture and storage technology. Various governments are encouraging the implementation of CCS technology through pilot projects across various industries. This is attributed to the ability of carbon capture and storage technology to serve as a large-scale solution for achieving high CO2 emission reduction targets and climate control goals.

The European Union emerged as a global leader by developing CCS as a part of its energy and climate policy to meet the 80%-95% emission reduction target by 2050. Various policies and funding programs favoring the development of more efficient and cost-effective CCS technologies are primarily driving the market in the region.

The increasing use of carbon dioxide in enhanced oil recovery (EOR) applications is fueling the demand for carbon capture and storage across the globe over the forecast period. However, the high cost of carbon capture and storage technology may not prove to be a viable solution for many industry players as well as countries globally. Therefore, the high cost of CCS is expected to restrain the growth of the CCS market in the near future.

The industry players are adopting several strategies including partnerships, new product launches, expansions, mergers & acquisitions, joint ventures, and partnership agreements to increase the customer base and individual market share. For instance, 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.

Carbon Capture And Storage Market Report Highlights
  • Based on technology, the pre-combustion segment dominated the market with a revenue share of over 70.28% in 2023 owing to its wide application and the production of clean energy such as e-fuels and blue hydrogen
  • Based on application, the power generation segment accounted for the highest market share of over 68.60% in 2023 due to imposed restrictions on power plants, the utilization of CCS facilities has become mandatory to reduce carbon emissions up to the required standards
  • Europe is expected to grow at the fastest CAGR of 8.9% over the forecast period owing to several favorable government policies in the region promoting the use of CCS technology. For instance, in March 2023, the European Union launched the Net Zero Industry Act that proposes an injection target for carbon dioxide annually of 50 Mt CO2 for 2030, thus promoting the adoption of CCS technology in the region
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Chapter 1 Methodology & Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.3.3 Secondary Source
1.3.4 Third Party Perspective
1.3.5 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.4.2 Market Formulation and Data Visualization
1.5 Data Validation and Publishing
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Carbon Capture and Storage Market: Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market Driver Impact Analysis
3.3.2 Market Restraint Impact Analysis
3.3.3 Industry Challenges
3.4 Business Environment Analysis: Carbon Capture and Storage Market
3.4.1 Industry Analysis - Porter’s
3.4.2 PESTEL analysis
Chapter 4 Regulatory Framework
4.1 U.S.
4.2 Canada
4.3 UK
4.3.1 The British Energy Security Strategy and the Net Zero Strategy
4.3.2 Climate Change Act, 2008
4.3.3 The UK Low Carbon Transition Plan
4.4 Germany
4.5 France
4.6 Norway
4.6.1 Greenhouse Gas Emission Trading Act
4.6.2 Climate Change Act
4.7 Finland
4.7.1 National Climate Change Policy
4.7.2 National Targets
4.8 Sweden
4.9 Switzerland
4.10 Spain
Chapter 5 Technology Overview
5.1 Technology Overview for Carbon Capture and Storage
5.1.1 Post-combustion of carbon
5.1.2 Pre-combustion of carbon
5.1.3 Oxy-fuel combustion
5.1.4 Industrial Processes
5.2 Technology Timeline
5.3 Technology Trends
5.3.1 Chemical Looping
5.3.2 Solvents and Sorbents
5.3.3 Bio-energy with Carbon Capture and Storage (BECCS)
5.3.4 Direct Air Capture
Chapter 6 Carbon Pricing Emission Coverage & Tax Composition
6.1 Carbon Pricing Initiatives Timeline
6.2 Carbon Price Gaps In Different Sectors
6.3 Estimated Emissions Coverage with Capture Technology under Law
6.4 Effective Carbon Prices
6.5 Carbon Emissions Regulation Overview by major countries/regions
6.5.1 European Union
6.5.1.1 Types of trade within ETS
6.5.1.2 The EU ETS Compliance Cycle
6.5.1.3 Monitoring and Reporting Regulation (MRR)
6.5.2 U.S.
6.5.3 Canada
6.5.4 Norway
6.5.5 UK
6.5.6 France
6.5.7 Finland
6.5.8 Switzerland
6.5.9 Sweden
6.5.10 Spain
Chapter 7 Carbon Capture and Storage Market: Technology Estimates & Trend Analysis
7.1 Technology Movement Analysis & Market Share, 2023 & 2030
7.2 Carbon Capture and Storage Market Estimates & Forecast, By Technology (USD Million) (Million Tons)
7.2.1 Pre-Combustion
7.2.2 Industrial Process
7.2.3 Post-Combustion
7.2.4 Oxy-Combustion
Chapter 8 Carbon Capture and Storage Market: Application Estimates & Trend Analysis
8.1 Application Movement Analysis & Market Share, 2023 & 2030
8.2 Carbon Capture and Storage Market Estimates & Forecast, By Application (USD Million) (Million Tons)
8.2.1 Power Generation
8.2.2 Oil & Gas
8.2.3 Metal Production
8.2.4 Cement
8.2.5 Others
Chapter 9 Carbon Capture and Storage Market: Regional Estimates & Trend Analysis
9.1 North America
9.1.1 North America Carbon Capture and Storage Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Million Tons)
9.1.2 U.S.
9.1.3 Canada
9.1.4 Mexico
9.2 Europe
9.2.1 Europe Carbon Capture and Storage Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Million Tons)
9.2.2 Germany
9.2.3 UK
9.2.4 France
9.2.5 Spain
9.2.6 Norway
9.2.7 Italy
9.3 Asia Pacific
9.3.1 Asia Pacific Carbon Capture and Storage Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Million Tons)
9.3.2 China
9.3.3 India
9.3.4 Japan
9.3.5 South Korea
9.3.6 Australia
9.4 Central & South America
9.4.1 Central & South America Carbon Capture and Storage Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Million Tons)
9.4.2 Brazil
9.4.3 Argentina
9.5 Middle East & Africa
9.5.1 Middle East & Africa Carbon Capture and Storage Market Estimates & Forecasts, 2018 - 2030 (USD Million) (Million Tons)
9.5.2 Saudi Arabia
9.5.3 UAE
9.5.4 South Africa
Chapter 10 Carbon Capture and Storage Market: Competitive Landscape
10.1 Recent Developments & Impact Analysis, by Key Market Participant
10.2 Company Categorization
10.3 Participant’s Overview
10.3.1 Shell PLC
10.3.2 Aker Solutions
10.3.3 Equinor ASA
10.3.4 Dakota Gasification Company
10.3.5 Linde plc
10.3.6 Siemens Energy
10.3.7 Fluor Corporation
10.3.8 Sulzer Ltd.
10.3.9 Mitsubishi Heavy Industries Ltd. (MHI)
10.3.10 Japan CCS Co. Ltd
10.3.11 Carbon Engineering Ltd.
10.3.12 LanzaTech
10.4 Financial Performance
10.5 Product Benchmarking
10.6 Company Market Positioning
10.7 Company Heat Map Analysis
10.8 Strategy Mapping
10.8.1 Expansion
10.8.2 mergers & acquisition
10.8.3 collaborations
10.8.4 new product launches
10.8.5 Others
10.9 Vendors Utilizing Carbon Dioxide as a Raw Material
10.9.1 List of International Vendors
10.9.2 List of vendors in the U.S.
10.9.3 List of vendors in Canada
10.9.4 List of vendors in Germany
10.9.5 List of vendors in The UK
10.9.6 List of vendors in Italy
10.9.7 List of vendors in France
10.9.8 List of vendors in Spain
10.9.9 List of vendors in Norway
10.9.10 List of vendors in Finland
10.9.11 List of vendors in Sweden
10.9.12 List of vendors in Switzerland
10.9.13 List of vendors in Russia
10.10 List of Vendors Which Come Under Purview of Law for Limiting Greenhouse Gas Emissions
10.10.1 List of vendors in the U.S.
10.10.2 List of vendors in Canada
10.10.3 List of vendors in Germany
10.10.4 List of vendors in THE UK
10.10.5 List of vendors in Italy
10.10.6 List of vendors in France
10.10.7 List of vendors in Spain
10.10.8 List of vendors in Norway
10.10.9 List of vendors in Finland
10.10.10 List of vendors in Sweden
10.10.11 List of vendors in Switzerland
10.10.12 List of vendors in Russia
Chapter 11 Companies with CO2 Mission
11.1 Exxon Mobil Corporation
11.1.1 Company Overview
11.1.2 CO2 Mission
11.1.3 Initiatives taken by the company to reduce its carbon footprint
11.2 BP p.l.c.
11.2.1 Company Overview
11.2.2 CO2 Mission
11.2.3 Initiatives taken by the company to reduce its carbon footprint
11.3 Chevron Corporation
11.3.1 Company Overview
11.3.2 CO2 Mission
11.3.3 Initiatives taken by the company to reduce its carbon footprint
11.4 TotalEnergies
11.4.1 Company Overview
11.4.2 CO2 Mission
11.4.3 Initiatives taken by the company to reduce its carbon footprint
11.5 Eni S.p.A.
11.5.1 Company Overview
11.5.2 CO2 Mission
11.5.3 Initiatives taken by the company to reduce its carbon footprint
11.6 ConocoPhillips
11.6.1 Company Overview
11.6.2 CO2 Mission
11.6.3 Initiatives taken by the company to reduce its carbon footprint
11.7 Shell plc
11.7.1 Company Overview
11.7.2 CO2 Mission
11.7.3 Initiatives taken by the company to reduce its carbon footprint
11.8 LUKOIL
11.8.1 Company Overview
11.8.2 CO2 Mission
11.8.3 Further Initiatives taken by the company to reduce its carbon footprint
11.9 CONSOL Energy INC.
11.9.1 Company Overview
11.9.2 CO2 Mission
11.9.3 Initiatives taken by the company to reduce its carbon footprint
11.10 Peabody Energy, Inc.
11.10.1 Company Overview
11.10.2 CO2 Mission
11.10.3 Initiatives taken by the company to reduce its carbon footprint
Chapter 12 Opportunity Assessment & Recommendations
12.1 Companies with CO2 Mission
12.2 Potential clients to target for supplying stored carbon dioxide
12.3 Potential clients to target for providing carbon storage technology
12.4 List of CCS Projects

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