Fairfield Market Research
Carbon Capture and Storage (CCS) Market

Carbon Capture and Storage (CCS) Market

Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2026)

Published Date: Jan 2022 | Format: | No. of Pages: 172

Industry: Energy & Natural Resources | Author Name: Hrishikesh

Global Carbon Capture and Storage (CCS) Market: Outlook

The global carbon capture and storage (CCS) market was valued at US$ 4.17 Bn in 2020 and is anticipated to be worth US$ 9.42 Bn in 2026, registering a CAGR of 15.7% during the forecast period. In terms of volume, the market is expected to add 101 MTPA from 2020-2026.

Carbon dioxide (CO2), regarded as a key greenhouse gas, has far-ranging environmental and health effects. Carbon emissions from fossil fuel-based power plants and industrial sources account for more than 60% of global greenhouse gas emissions. Albeit, year-on-year increase in carbon dioxide emissions from power and industrial facilities, the technological innovations and policy developments has provided encouraging signs for the future of carbon capture and storage (CCS) technologies. CCS can capture more than 90% of the carbon dioxide (CO2) emissions, pro­duced from the use of fossil fuels in electricity generation and industrial processes, thereby preventing the carbon dioxide from entering the atmosphere. In 2019, more than 30 billion metric tons of carbon dioxide was released from industrial activities and burning of fossil fuels. Of which, close to 35MT of carbon dioxide was captured through CCS technology. Globally, only 0.1-0.2% of carbon dioxide released from power plants and industrial facilities are captured and stored through CCS technology. This provides immense potential for large-scale deployment of carbon capture and storage (CCS) technology across the globe.

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Government Support, Paris Climate Change and Kyoto Protocol Climate Change Acts to Boost Deployment

In the fight against greenhouse gas emissions, carbon capture and storage (CCS) market can be a game-changer. Its ability to capture & store carbon dioxide (CO2) emissions, at pre-combustion and post-combustion levels addresses the global concern related to climate change.

Paris climate agreement and Kyoto protocol treaty signed on climate change among different nations remains the key driver for carbon capture and storage (CCS) market. Globally, the iron and steel, cement and chemical industries transmit carbon from their industrial processes, and high-temperature heat necessities. They are among the hardest to decarbonise. Furthermore, International Energy Agency (IEA) infer that accomplishing net-zero outflows in difficult to-decrease businesses like these might be unthinkable and, best case scenario, more costly without carbon capture and storage (CCS). Carbon capture and storage is perhaps the most advanced and financially savvy choice.

The key restraint for carbon capture and storage (CCS) market is no direct financial benefit to any company adding CCS technology to their facilities due to a free and unregulated market. Even enhanced oil and gas recovery technologies could use other inert gases such as nitrogen in their enhanced recovery methodologies or CO2 from natural sources. Hence, the CCS market is fully dependent on regulators putting a price or tax on carbon emissions.

Post COVID-19 pandemic, delays in funding in carbon capture and storage (CCS) projects due to capital expenditure cuts by major oil and gas companies, is expected to affect the market. However, there are numerous planned carbon capture and storage (CCS) projects expected to get fully-commercialized by 2030.

Oil & Gas Companies Remains the Key End User of Carbon Capture and Storage (CCS) Market

In 2020, enhanced oil recovery (EOR) dominated the global carbon capture and storage market with 61.0 % share. Majority of capture CO2 is utilized by the oil & gas companies for EOR process and also for blue hydrogen production.

In most CO2 EOR projects, much of the CO2 injected into the oil reservoir is only temporarily stored. More precisely, decommissioning of an EOR project typically involves the “blowing down” of the reservoir pressure, meant to maximise the amount of recovered oil. As a consequence, just a small amount of injected CO2 remains dissolved in the immobile oil.  This is the reason some question EOR as a permanent storage option. Dedicated geological storage are also used to store CO2 which is received through pipeline and tankers. Majority of stored CO2 is utilized in oil & gas operations.

Europe to Witness Higher Adoption of CCS by 2026

As of 2020, at least 26 commercial-scale carbon capture projects are active/operating around the world with 21 more in early development and 13 in advanced development reaching front end engineering design (FEED). Industrial processes where large-scale carbon capture has been demonstrated and is in commercial operation include coal gasification, ethanol production, fertilizer production, natural gas processing, refinery hydrogen production and, most recently, coal-fired power generation.

In 2020, North America dominated the global carbon capture and storage (CCS) market. The U.S. constituted the major share of the global carbon capture and storage (CCS) market with 13 active facilities. In North America, U.S. Department of Energy is another reason for the growing list of projects in development, committing or awarding more than US$270 million in co-funding agreements in 2020. The versatility of CCS is evident in the U.S. in 2020, carbon capture and storage (CCS) projects were announced on: cement manufacturing, coal-fired power plants, gas-fired power plants, waste-to-energy plants, ethanol facilities, chemical production.

Across Europe, more than 11 commercial projects are targeting operation before 2030. In Europe, 13 commercial facilities are in operation or various stages of development (1 in Ireland, 1 in The Netherlands, 4 in Norway, 7 in the U.K. In 2020 the launch of the first call for projects under the EU’s US$ 11.32 bn Innovation fund; expected to be a major source of funding for both the planning, and the construction and operation of CCS across the EU. The carbon capture and storage (CCS) market in Europe is expected to witness strong growth in the next few years.

In Asia Pacific, several countries that have started establishing their CCS strategies as part of their long-term climate change commitments. Currently, China, Australia, and South Korea dominates the Asia Pacific carbon capture and storage (CCS) market. Asia Pacific region has 10 commercial CCS facilities either operating or in various stages of development. Several new commercial projects have entered engineering design or early development stages in 2020. The region has a great variety of CCS pilot projects, which includes: natural gas processing, fertiliser, hydrogen production, waste to energy, iron/steel, coal to chemical, cement.

In Middle East & Africa, more than 3 commercial CCS facilities in operation: 2 in natural gas processing and 1 in iron and steel production. While, in Latin America, Brazil is the only nation which is active in carbon capture and storage (CCS) market.

Global Carbon Capture and Storage (CCS) Market: Competitive Landscape 

Key players involved in the global carbon capture and storage (CCS) market includes Siemens AG, GE, Babcock & Wilcox Enterprises, Inc., Mitsubishi Heavy Industrial Ltd., Air Liquid, Air Products & Chemical Inc., Linde AG, Royal Dutch Shell plc, Global Thermostat, Climeworks, Total SE, Carbon Engineering Ltd., CO2 Solutions and others.

On November 2021, BASF and Air Liquide win EU funding for carbon-capture project. Firms get slice of $1.2 billion in government grants for 7 large decarbonization efforts. On June 2021, Zeeland Refinery Partners with Air Liquide for Carbon Capture Solution. Air Liquide Engineering & Construction will provide Cryocap FG.

In December 2021, Technip Energies and GE Gas Power awarded feed study for Teesside power, carbon capture and compression project in the U.K. Technip Energies and GE Gas Power will develop ‘first of a kind’ large amine-based post combustion carbon capture at scale solution to integrate with a proposed H-Class natural gas fired power plant at Teesside, England.

The Global Carbon Capture and Storage (CCS) Market is Segmented as Below:

By Capture Type Coverage

  • Pre-combustion
  • Post-combustion
  • Oxy-fuel Combustion

By Transport Type

  • Pipeline
  • Ship/Tanker
  • Chemical Carrier Vehicle

By Storage Type

  • Enhanced Oil Recovery (EOR)
  • Dedicated Geological Storage

By Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • Norway
    • UK
    • The Netherland
    • Rest of Europe
  • Asia Pacific
    • China
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Rest of Latin America

Leading Companies

  • Siemens AG
  • GE
  • Babcock & Wilcox Enterprises, Inc.
  • Mitsubishi Heavy Industries, Ltd.
  • Air Liquide
  • Linde AG
  • Air Products & Chemicals, Inc.
  • Climeworks
  • Total SE
  • Global Thermostat
  • CO2 Solutions
  • Carbon Engineering Ltd.
  • Royal Dutch Shell plc

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1. Executive Summary
     1.1. Global Carbon Capture & Storage (CCS) Market Snapshot
     1.2. Future Projections
     1.3. Key Market Trends
     1.4. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
            2.2.1. Drivers
            2.2.2. Restraints
            2.2.3. Market Opportunities
            2.2.4. Economic Trends
     2.3. Value Chain Analysis
     2.4. Porter’s Five Forces Analysis & PEST Analysis
     2.5. Covid-19 Impact
            2.5.1. Supply Chain
            2.5.2. End-user Customer Impact Analysis

3. Global Carbon Capture & Storage (CCS) Operational and Future Projects, 2018 - 2026
     3.1. List of Active/Operational CCS Projects
     3.2. List of Under-construction/Upcoming CCS Projects

4. Global Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
     4.1. Global Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            4.1.1. Key Highlights
                    4.1.1.1. Pre-combustion
                    4.1.1.2. Post-combustion
                    4.1.1.3. Oxy-fuel Combustion
            4.1.2. BPS Analysis/Market Attractiveness Analysis, by Source
     4.2. Global Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            4.2.1. Key Highlights
                    4.2.1.1. Pipeline
                    4.2.1.2. Ship/Tanker
                    4.2.1.3. Chemical Carrier Vehicle
            4.2.2. BPS Analysis/Market Attractiveness Analysis, by Type
     4.3. Global Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            4.3.1. Key Highlights
                    4.3.1.1. Enhanced Oil Recovery (EOR)
                    4.3.1.2. Dedicated Geological Storage
            4.3.2. BPS Analysis/Market Attractiveness Analysis, by End-use
     4.4. Global Carbon Capture & Storage (CCS) Market Outlook, by Region, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            4.4.1. Key Highlights
                    4.4.1.1. North America
                    4.4.1.2. Europe
                    4.4.1.3. Asia Pacific
                    4.4.1.4. Latin America
                    4.4.1.5. Middle East & Africa
            4.4.2. BPS Analysis/Market Attractiveness Analysis, by Region

5. North America Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
     5.1. North America Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            5.1.1. Key Highlights
                    5.1.1.1. Pre-combustion
                    5.1.1.2. Post-combustion
                    5.1.1.3. Oxy-fuel Combustion
     5.2. North America Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            5.2.1. Key Highlights
                    5.2.1.1. Pipeline
                    5.2.1.2. Ship/Tanker
                    5.2.1.3. Chemical Carrier Vehicle
     5.3. North America Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            5.3.1. Key Highlights
                    5.3.1.1. Enhanced Oil Recovery (EOR)
                    5.3.1.2. Dedicated Geological Storage
     5.4. North America Carbon Capture & Storage (CCS) Market Outlook, by Country, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            5.4.1. Key Highlights
                    5.4.1.1. U.S. Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    5.4.1.2. Canada Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026

6. Europe Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
     6.1. Europe Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            6.1.1. Key Highlights
                    6.1.1.1. Pre-combustion
                    6.1.1.2. Post-combustion
                    6.1.1.3. Oxy-fuel Combustion
     6.2. Europe Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            6.2.1. Key Highlights
                    6.2.1.1. Pipeline
                    6.2.1.2. Ship/Tanker
                    6.2.1.3. Chemical Carrier Vehicle
     6.3. Europe Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            6.3.1. Key Highlights
                    6.3.1.1. Enhanced Oil Recovery (EOR)
                    6.3.1.2. Dedicated Geological Storage
     6.4. Europe Carbon Capture & Storage (CCS) Market Outlook, by Country, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            6.4.1. Key Highlights
                    6.4.1.1. Norway Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    6.4.1.2. U.K. Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    6.4.1.3. The Netherlands Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    6.4.1.4. Rest of Europe Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026

7. Asia Pacific Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
     7.1. Asia Pacific Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            7.1.1. Key Highlights
                    7.1.1.1. Pre-combustion
                    7.1.1.2. Post-combustion
                    7.1.1.3. Oxy-fuel Combustion
            7.1.2. BPS Analysis/Market Attractiveness Analysis
     7.2. Asia Pacific Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            7.2.1. Key Highlights
                    7.2.1.1. Pipeline
                    7.2.1.2. Ship/Tanker
                    7.2.1.3. Chemical Carrier Vehicle
     7.3. Asia Pacific Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            7.3.1. Key Highlights
                    7.3.1.1. Enhanced Oil Recovery (EOR)
                    7.3.1.2. Dedicated Geological Storage
     7.4. Asia Pacific Carbon Capture & Storage (CCS) Market Outlook, by Country, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            7.4.1. Key Highlights
                    7.4.1.1. China Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    7.4.1.2. Australia Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    7.4.1.3. South Korea Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    7.4.1.4. Rest of Asia Pacific Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026

8. Latin America Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
     8.1. Latin America Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            8.1.1. Key Highlights
                    8.1.1.1. Pre-combustion
                    8.1.1.2. Post-combustion
                    8.1.1.3. Oxy-fuel Combustion
     8.2. Latin America Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            8.2.1. Key Highlights
                    8.2.1.1. Pipeline
                    8.2.1.2. Ship/Tanker
                    8.2.1.3. Chemical Carrier Vehicle
     8.3. Latin America Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            8.3.1. Key Highlights
                    8.3.1.1. Enhanced Oil Recovery (EOR)
                    8.3.1.2. Dedicated Geological Storage
     8.4. Latin America Carbon Capture & Storage (CCS) Market Outlook, by Country, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            8.4.1. Key Highlights
                    8.4.1.1. Brazil Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    8.4.1.2. Rest of Latin America Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026

9. Middle East & Africa Carbon Capture & Storage (CCS) Market Outlook, 2018 - 2026
     9.1. Middle East & Africa Carbon Capture & Storage (CCS) Market Outlook, by Source, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            9.1.1. Key Highlights
                    9.1.1.1. Pre-combustion
                    9.1.1.2. Post-combustion
                    9.1.1.3. Oxy-fuel Combustion
     9.2. Middle East & Africa Carbon Capture & Storage (CCS) Market Outlook, by Type, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            9.2.1. Key Highlights
                    9.2.1.1. Pipeline
                    9.2.1.2. Ship/Tanker
                    9.2.1.3. Chemical Carrier Vehicle
     9.3. Middle East & Africa Carbon Capture & Storage (CCS) Market Outlook, by End-use, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            9.3.1. Key Highlights
                    9.3.1.1. Enhanced Oil Recovery (EOR)
                    9.3.1.2. Dedicated Geological Storage
     9.4. Middle East & Africa Carbon Capture & Storage (CCS) Market Outlook, by Country, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
            9.4.1. Key Highlights
                    9.4.1.1. Saudi Arabia Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    9.4.1.2. UAE Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    9.4.1.3. Qatar Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026
                    9.4.1.4. Rest of Middle East & Africa Carbon Capture & Storage (CCS) Market, Volume (MTPA) and Value (US$ Mn), 2018 - 2026

10. Competitive Landscape
     10.1. Company Market Share Analysis, 2020
     10.2. Strategic Collaborations
     10.3. Company Profiles
            10.3.1. Siemens AG
                    10.3.1.1. Company Overview
                    10.3.1.2. Product Portfolio
                    10.3.1.3. Financial Overview
                    10.3.1.4. Business Strategies and Development
            10.3.2. GE
                    10.3.2.1. Company Overview
                    10.3.2.2. Product Portfolio
                    10.3.2.3. Financial Overview
                    10.3.2.4. Business Strategies and Development
            10.3.3. Babcock & Wilcox Enterprises, Inc.
                    10.3.3.1. Company Overview
                    10.3.3.2. Product Portfolio
                    10.3.3.3. Financial Overview
                    10.3.3.4. Business Strategies and Development
            10.3.4. Mitsubishi Heavy Industries, Ltd.
                    10.3.4.1. Company Overview
                    10.3.4.2. Product Portfolio
                    10.3.4.3. Financial Overview
                    10.3.4.4. Business Strategies and Development
            10.3.5. Air Liquide
                    10.3.5.1. Company Overview
                    10.3.5.2. Product Portfolio
                    10.3.5.3. Financial Overview
                    10.3.5.4. Business Strategies and Development
            10.3.6. Linde AG
                    10.3.6.1. Company Overview
                    10.3.6.2. Product Portfolio
                    10.3.6.3. Financial Overview
                    10.3.6.4. Business Strategies and Development
            10.3.7. Air Products & Chemicals, Inc.
                    10.3.7.1. Company Overview
                    10.3.7.2. Product Portfolio
                    10.3.7.3. Financial Overview
                    10.3.7.4. Business Strategies and Development
            10.3.8. Climeworks
                    10.3.8.1. Company Overview
                    10.3.8.2. Product Portfolio
                    10.3.8.3. Financial Overview
                    10.3.8.4. Business Strategies and Development
            10.3.9. Total SE
                    10.3.9.1. Company Overview
                    10.3.9.2. Product Portfolio
                    10.3.9.3. Financial Overview
                    10.3.9.4. Business Strategies and Development
            10.3.10. Global Thermostat
                    10.3.10.1. Company Overview
                    10.3.10.2. Product Portfolio
                    10.3.10.3. Financial Overview
                    10.3.10.4. Business Strategies and Development
            10.3.11. CO2 Solutions
                    10.3.11.1. Company Overview
                    10.3.11.2. Product Portfolio
                    10.3.11.3. Financial Overview
                    10.3.11.4. Business Strategies and Development
            10.3.12. Carbon Engineering Ltd.
                    10.3.12.1. Company Overview
                    10.3.12.2. Product Portfolio
                    10.3.12.3. Financial Overview
                    10.3.12.4. Business Strategies and Development
            10.3.13. Royal Dutch Shell
                    10.3.13.1. Company Overview
                    10.3.13.2. Product Portfolio
                    10.3.13.3. Financial Overview
                    10.3.13.4. Business Strategies and Development

11. Appendix
     11.1. Research Methodology
     11.2. Report Assumptions
     11.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2020

 

2018 - 2019

2021 - 2026 

Value: US$ Million

Volume MTPA: 

 

REPORT FEATURES

DETAILS

Capture Type Coverage

  • Pre-combustion
  • Post-combustion
  • Oxy-fuel Combustion

Transport Type

  • Pipeline
  • Ship/Tanker
  • Chemical Carrier Vehicle

Storage Type

  • Enhanced Oil Recovery (EOR)
  • Dedicated Geological Storage

Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • Norway
    • U.K.
    • The Netherland
    • Rest of Europe
  • Asia Pacific
    • China
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Rest of Latin America
    • Qatar

Leading Companies

  • Siemens AG
  • GE
  • Babcock & Wilcox Enterprises, Inc.
  • Mitsubishi Heavy Industries, Ltd.
  • Air Liquide
  • Linde AG
  • Air Products & Chemicals, Inc.
  • Climeworks
  • Total SE
  • Global Thermostat
  • CO2 Solutions
  • Carbon Engineering Ltd.
  • Royal Dutch Shell plc

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, PEST Analysis, Historical Trend (2018-2019), Price Trend Analysis- 2018-2026, Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

FAQs : Carbon Capture and Storage (CCS) Market

Concerns regarding carbon emission followed by net-zero carbon emission target by 2050 is driving the demand carbon capture & storage (CCS) technologies across the globe.

Global top 5 players in carbon capture & storage (CCS) market includes: Siemens AG, GE, Air Liquide, Air Products & Chemicals, Inc., and Linde AG.

Currently, North America dominated the market in 2020. In terms of CAGR, Europe remains the most lucrative markets for carbon capture & storage (CCS).

In terms of storage, enhanced oil recovery (EOR) segment dominated the global carbon capture & storage (CCS) market in 2020.

Development and deployment of CCS gathered momentum in 2020. However, the global COVID-19 pandemic impacted through delays in funding's for CCS projects.

Our Research Methodology

Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.

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