(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 27, 2020, 13:05 /Comserve / -- Increasing usage of captured carbon for enhanced oil recovery operations in the oil & gas industry is laying a key role behind the growth of CCUS market. Carbon capture, utilization, and sequestration is extensively used in oil & gas, power generation
The global carbon capture, utilization, and storage market size is expected to grow from USD 1.6 billion in 2020 to USD 3.5 billion by 2025, at a CAGR of 17.0% during the forecast period. Carbon capture, utilization, and sequestration is extensively used in oil & gas, power generation, fertilizer, and various other sectors. Increasing usage of captured carbon for enhanced oil recovery operations in the oil & gas industry is laying a key role behind the growth of CCUS market.
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'Capture segment to dominate the market in terms of value.
The Capture segment holds the majority of the share in the CCUS market. Carbon capture is the first stage of the CCUS process and involves capturing CO2 from its emission source. It can be applied to any large-scale emission process, including coal-fired power generation plants; gas and oil production; and manufacturing industries, such as cement, iron, and steel. The cost of capturing CO2 is heavily dependent on technical, economic, and financial factors associated with the design and operation of the production process, along with the design and operation of the CO2 capture technology
'Power Generation is the fastest-growing segment in the market in terms of value.
Fossil fuel power plants generate significant amounts of CO2 emissions into the atmosphere, which are believed to be the main cause of climate change. And Power Generation industry is projected to be the fastest-growing segment in the carbon capture, utilization, and sequestration market. Various upcoming CCUS equipped projects in the power generation sector, such as Project TUNDRA (US), Cal Capture Project (US), CLEAN GAS project (UK), and Korea CCS (APAC) are the major driver the behind the high growth in the segment.
'Europe is the fastest-growing carbon capture, utilization, and sequestration, in terms of volume.
Europe is projected to be the fastest-growing carbon capture, utilization, and sequestration market during the forecast period. Norway has been very active in curbing carbon emissions since 1990. The upcoming projects in the Netherlands and the UK are also projected to drive the market in the region. Norway Full Chain (Norway), Caledonia Clean (UK), Hynet Northh West (UK), and Por of Rotterdam (Also known as PORTHOS) (Netherlands) are few projecst that are scheduled to start before 2025 an are the major reason behind the high growth of CCUS market in Europe.
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This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided into the following three categories:
• By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
• By Designation- C Level- 50%, Director Level- 20%, and Others- 30%
• By Region- North America- 20%, Europe- 50%, APAC- 15%, Latin America-5%, MEA-10%,
The report provides a comprehensive analysis of company profiles listed below:
• Royal Dutch Shell (Netherlands)
• Aker Solutions (Norway)
• Mitsubishi Heavy Industries, Ltd. (Japan)
• Linde PLC (UK)
• Hitachi, Ltd.(Japan)
• Exxon Mobil Corporation (US)
• JGC Holdings Corporation (Japan)
• Honeywell International, Inc. (US)
• Halliburton (US)
• Schlumberger Limited (US)
Research Coverage
This report covers the global carbon capture, utilization, and sequestration and forecasts the market size until 2024. The report includes the market segmentation by Service (Capture, Transportation, Utilization, Storage), by End-Use Industry (Oil & Gas, Iron & Steel, Cement, Chemical & Petrochemical, Power Generation), Sand Region (Europe, North America, APAC, Latin America, and MEA). Porter's Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global carbon capture, utilization, and sequestration
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global carbon capture, utilization, and sequestration comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the carbon capture, utilization, and sequestration and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem and expansion.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall carbon capture, utilization, and sequestration and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."
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