Carbon Capture, Utilization, And Sequestration Market Worth to Reach USD 4801.9 million By 2027
Posted On October 04, 2021
The Global Carbon Capture, Utilization, And Sequestration Market report evaluates the market revenue to reach USD 4801.9 million mark in 2027. The CAGR is expected to be close to 17% from 2021 till the end of 2027 according to the newly published report by Value Market Research. Growing government worries about climate change, as well as a growing focus on reducing CO2 emissions from industrial and power plants, are driving the carbon capture, utilisation, and sequestration (CCUS) industry. During the projected period, the increasing oil and gas sector is expected to increase demand for carbon capture, utilisation, and sequestration. This is owing to the oil and gas industry's extensive use of captured carbon for enhanced oil recovery activities. As the need for oil and gas rises, so will the number of oil and gas explorations, which will lead to increased CCUS deployment in this sector.The high cost of carbon capture and sequestration, on the other hand, may stymie the global carbon capture, utilisation, and sequestration market in the long run. Furthermore, lower crude oil prices have a negative impact on the market. Current industry trends, such as continuous expenditures in creating innovative capturing technologies that enable economic operations and a large number of prospective APAC projects, are likely to open up new market opportunities for market players.
Carbon capture, utilization, and storage (CCUS), sometimes known as carbon capture, utilization, and sequestration (CCUS), is a method of capturing carbon dioxide emissions from sources such as coal-fired power plants and either reusing or storing them so that they do not enter the environment. CO2 may be captured and transformed into a variety of products, including hydrocarbons like methanol, which can be used as biofuels and other alternative and renewable energy sources. Plastics, concrete, and chemical synthesis reactants are among the other commercial goods.
The market dynamics covered in the report "Global Carbon Capture, Utilization, And Sequestration Market Report By Service (Capture, Transportation, Utilization, Storage), By End-Use Industry (Oil & Gas, Power Generation, Iron & Steel, Chemical & Petrochemical, Cement, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" gives a holistic scope of the market along with the market forecasts.
On the basis of service the market is segmented into Capture, Transportation, Utilization, Storage. By application the carbon capture, utilization, and sequestration market is categorised as Oil & Gas, Power Generation, Iron & Steel, Chemical & Petrochemical, Cement, Others. Geographically the research study provides data on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. Each region is segregated into North America (North America, United State and Rest of North America), Europe (United Kingdom, France, Germany, and Rest of Europe), Asia Pacific (China, Japan, India, Rest of Asia Pacific), Latin America (Brazil, Rest of Latin America) and Middle East & Africa. This section provides the estimates of market by segment. This section provides the estimates of market by segment thus, providing valuable data to take strategic decisions.
The Report Segments Global Carbon Capture, Utilization, And Sequestration Market -
- Oil & Gas
- Power Generation
- Iron & Steel
- Chemical & Petrochemical
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
Aker Solutions, Royal Dutch Shell, Linde PLC, Mitsubishi Heavy Industries, Ltd., Hitachi, JGC Holdings Corporation, Exxon Mobil Corporation, Halliburton Honeywell International, Inc., and Schlumberger Limited.
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