Carbon Capture & Storage Market Size & Insights

According to MarkNtel Advisors study The future of Carbon Capture & Storage Market size is valued at USD 4.3 billion in 2024 and is projected to reach USD 12.9 billion in 2030. Along with this, the market is estimated to grow at a CAGR of around 24.0% during the forecast period. 

What are the Key Driver in the Carbon Capture & Storage Market?

Increasing Incorporation of CO2 in Enhanced Oil Recovery (EOR) Applications Proliferating Global Carbon Capture & Storage Market – Growing global demand for energy, coupled with declining production from mature oil fields, is driving the adoption of Enhanced Oil Recovery as a means of extending the life of oil reservoirs. The EOR technology efficiently utilizes the captured carbon to increase oil production. The captured CO2 when put in the oil reservoirs, efficiently works as a catalyst to boost the oil production. Owing to this, governments and industries around the world are recognizing the role of EOR in energy security and also fulfilling the climate objectives of emission reduction which is driving investment in the field of carbon capture and storage. For Instance,

In 2023, The U.S. Department of Energy (DOE) awarded up to USD17.2 million of investment to assess the ability to design unconventional oil resources in an integrated system that incorporates the use of captured carbon dioxide (CO2) emission for oil recovery using residual oil, termed as CO2-Enhanced Oil Recovery.

According to the Global CCS Institute, there were around 220 commercial-scale CCS facilities planned across the globe in 2023. Out of these, around 15 facilities are planned to support EOR initiatives. Hence, the demand for carbon capture & storage solutions has grown over the years due to the increasing utilization of captured CO2 in the EOR technique worldwide. Governments as well as the oil industry have been significantly utilizing these systems and technologies to enhance oil production, thereby surging its demand and driving the growth of the Global Carbon Capture & Storage Market. ​

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What are the Key Segments in the Carbon Capture & Storage Market?

The Carbon Capture & Storage is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

• By Capture Technology
  • Post Combustion Capture- Market Size & Forecast 2019-2030, USD Million
  • Pre-Combustion Capture- Market Size & Forecast 2019-2030, USD Million
  • Oxyfuel Technology- Market Size & Forecast 2019-2030, USD Million
  • Chemical Looping Combustion- Market Size & Forecast 2019-2030, USD Million
• By Storage Technology
  • Geological Storage- Market Size & Forecast 2019-2030, USD Million
    • Depleted Oil and Gas Reservoirs- Market Size & Forecast 2019-2030, USD Million
    • Un-mineable Coal Bed Storage- Market Size & Forecast 2019-2030, USD Million
    • Saline Aquifers - Market Size & Forecast 2019-2030, USD Million
  • Deep Ocean Storage- Market Size & Forecast 2019-2030, USD Million
• By End User
  • Biofuels- Market Size & Forecast 2019-2030, USD Million
  • Food and Beverage- Market Size & Forecast 2019-2030, USD Million
  • Pulp and Paper- Market Size & Forecast 2019-2030, USD Million
  • Cement and Concrete- Market Size & Forecast 2019-2030, USD Million
  • Iron and Steel- Market Size & Forecast 2019-2030, USD Million
  • Textiles- Market Size & Forecast 2019-2030, USD Million
  • Oil and Gas- Market Size & Forecast 2019-2030, USD Million
  • Power Generation- Market Size & Forecast 2019-2030, USD Million
  • Others (Chemicals, Fertilizers, etc.) - Market Size & Forecast 2019-2030, USD Million

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How does geographical analysis highlight in the Carbon Capture & Storage market?

By Region

·       North America

·       South America

·       Europe

·       The Middle East & Africa

·       Asia-Pacific

Who are the Key Players in Carbon Capture & Storage Market?

·       Shell Plc

·       Halliburton Company

·       Schlumberger Limited

·       Aker Solutions

·       Equinor ASA

·       Chevron Corporation

·       Carbon Engineering ULC

·       Fluor Corporation

·       Exxon Mobil Corporation

·       Linde Plc

·       Mitsubishi Heavy Industries Ltd.

·       JGC Holdings Corporation

·       TotalEnergies SE

·       Honeywell International Inc.

·       Climeworks

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Carbon Capture & Storage Market News

In 2024: Shell Plc announced the Final Investment Decision (FID) for Polaris, a carbon capture project at the Shell Energy and Chemicals Park, Scotford in Alberta, Canada to capture approximately 650,000 tonnes of CO2 annually.

In 2024: Halliburton Company announced a new offering in its carbon capture utilization and storage portfolio called CorrosaLock cement system that provides radial cement sheath to CO2 storage infrastructure.

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Forecasting & Finalization – Predictive modeling and time-series analysis anticipate future market behaviors, presented through insightful reports with charts, graphs, and strategic recommendations.

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Why This MarkNtel Advisors Research Report:

• In-depth Market Analysis: Understand trends and dynamics shaping growth.
• Segmented Insights: Target specific segments for focused strategies.
• Geographical Performance: Assess market opportunities by geographic area.
• Emerging Technologies: Discover advancements like AI integration.
• Risk Identification: Pinpoint challenges to inform strategic planning.
• Future Forecasts: Prepare for market changes with actionable projections.

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