Global Carbon Capture, Utilization, And Storage Market Trends And Strategies Of Major Players In The Carbon Capture, Utilization, And Storage Market 2021-2030

The carbon capture, utilization, and storage market consist of sales of carbon capture, utilization, and storage technologies by entities (organizations, sole traders, and partnerships) that are engaged in providing clean and efficient energy solutions. Carbon capture, utilization, and storage (CCUS) is a set of methods and technologies for removing CO2 from flue gas and the atmosphere, recycling it for use, and establishing safe and long-term storage choices.

Global Carbon Capture, Utilization, And Storage Market Size And Drivers:

The global carbon capture, utilization, and storage market is expected to grow from $1.30 billion in 2020 to $1.46 billion in 2021 at a compound annual growth rate (CAGR) of 12.3%. The growth in the carbon capture, utilization, storage market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2.97 billion in 2025 at a CAGR of 19.6%. The increase in focus on reducing carbon dioxide (CO2) emissions across the globe is contributing to the growth of the carbon capture, utilization, and storage (CCUS) market.

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Trends In The Global Carbon Capture, Utilization, And Storage Market

The increasing investments by governments and organizations are an emerging trend in the carbon capture, utilization, and storage market. Major companies and governments are focusing on investing in carbon capture, utilization, and storage projects to reduce carbon emissions. For example, in July 2020, the US Department of Energy awarded Flexible Carbon Capture and Storage (FLECCS) project an $11.5 million grant to address key carbon capture and storage needs in the nation's power networks. The FLECCS project aims to facilitate the next generation of flexible, low-cost, and low-carbon power grids, as well as establish carbon capture and storage (CCS) retrofits for existing power generators that consume fossil carbon-containing fuels such as natural gas or biogas and generate electricity.

Global Carbon Capture, Utilization, And Storage Market Segments:
The global carbon capture, utilization, and storage market is further segmented based on technology, service, end use industry and geography.
By Technology: Pre-Combustion, Post Combustion, Oxy-Fuel Combustion
By Service: Capture, Transportation, Utilization, Storage
By End-Use Industry: Oil & Gas, Power Generation, Iron & Steel, Chemical & Petrochemical, Cement, Others
By Geography: The global carbon capture, utilization, and storage market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the carbon capture, utilization, and storage market in 2020.

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Carbon Capture, Utilization, And Storage Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides carbon capture, utilization, and storage market overviews, analyzes and forecasts market size and growth for the global carbon capture, utilization, and storage market, carbon capture, utilization, and storage market share, carbon capture, utilization, and storage market players, carbon capture, utilization, and storage market segments and geographies, carbon capture, utilization, and storage market’s leading competitors’ revenues, profiles and market shares. The carbon capture, utilization, and storage market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.