Carbon Capture Utilization and Storage Market by Service, End-Use Industry, and Region


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Global carbon capture, use and storage is projected to grow from USD 2.1 billion in 2021 to USD 7.7 billion by 2026, at a CAGR of 29.8% over the forecast period. Growing demand from various end-use industries is the main driver for market growth.

New York, 28 Feb. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Carbon Capture Utilization and Storage Market by Service, End-Use Industry and Region – Global Forecast to 2026” – https://www.reportlinker.com/p05981756/?utm_source=GNW
Carbon capture, use and storage is used in natural gas, power generation, hydrogen, fertilizers, reef oil and various other industries. However, the negative impact of the COVID-19 pandemic on end-use industries has negatively affected the carbon capture, utilization and storage market.

The transportation service is the fastest growing segment of carbon capture, use and storage in terms of value.

The transportation services segment is expected to witness strong growth in the carbon capture, utilization and storage market. Regions like North America and Europe have an extensive network of CO2 transport infrastructure which is driving the growth of this service segment.

The United States and Canada are actively investing in the development of their transport infrastructure for the efficient and economical transport of CO2. Europe is also investing in the development of its transport infrastructure with projects like Northern Lights.

The COVID-19 pandemic had a minor impact on the implementation of these networks, as project funding and implementation varied very little due to lockdowns.

The power generation segment will be the fastest growing end-use industry segment during the forecast period
The power generation end-use industry is expected to increase demand for carbon capture, utilization, and storage over the forecast period. The industry generates a massive amount of CO2 and therefore attracts multiple stakeholders to reduce these emissions, which contributes significantly to the growth of the market. carbon capture, use and storage.

Additionally, the power generation industry is experiencing the fastest growth owing to several projects that are in various stages of development and are expected to be commissioned by the mid-2020s.

Europe will be the fastest growing region in carbon capture, use and storage over the forecast period
Europe is expected to be the fastest growing region in carbon capture, use and storage and will grow significantly by 2026. This dominance is attributed to upcoming projects such as PORTHOS and CLEAN GAS in the Netherlands and the UK, which will lead the carbon capture, use and storage market in the region.

The presence of two large-scale carbon capture, utilization and storage facilities for natural gas processing in economies such as Norway is responsible for the region’s rapid growth.
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 type of business: level 1: 25%, level 2: 35% and level 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 – 5%, Middle East and Africa (MEA) – 15%,

The report provides a comprehensive analysis of the company profiles listed below:
• Fluor Corporation (USA)
• ExxonMobil Corporation (United States)
• Linde plc (UK)
• Royal Dutch Shell Plc (Netherlands)
• Mitsubishi Heavy Industries, Ltd (Japan)
• JGC Holdings Corporation (Japan)
• Schlumberger Limited (United States)
• Aker Solutions (Norway)
• Honeywell International Inc. (USA)
• Equinor ASA (Norway)
• TotalEnergies SE (France)
• Hitachi, Ltd (Japan)
• Siemens AG (Germany)
• General Electric (United States)
• Halliburton (USA)

Research coverage
This report covers the global carbon capture, use and storage and forecasts the market size till 2026. Hydrogen, Fertilizer, Petroleum Refining, Others) and Region (North America, Europe, Asia-Pacific, Middle (East and Africa, South America) – Global forecasts until 2026.

Porter’s five forces analysis along with 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 global carbon capture, use and storage.

Key Benefits of Purchasing the Report:

The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report comprehensively segments global carbon capture, use and storage. It provides the closest approximations of revenue for the overall market and sub-segments across different verticals and regions.
2. The report helps stakeholders understand the pulse of carbon capture, utilization and storage and provides them with insights on key market drivers, restraints, challenges and opportunities.
3. This report will help the stakeholders to better understand the competitors and acquire more information to improve their position in their businesses. The competitive landscape section includes competitor ecosystem, development, expansion, and acquisition of new products.

Reasons to buy the report:
The report will help the leaders/new entrants in this market by providing the closest approximations to the revenue for global carbon capture, use and storage and sub-segments. This report will help stakeholders understand the competitive landscape, better understand and better position their businesses and market strategies.
Read the full report: https://www.reportlinker.com/p05981756/?utm_source=GNW

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