The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increase in focus on reducing carbon dioxide (CO2) emissions across the globe are expected to drive innovation in carbon capture, utilization, and storage manufacturing, thus driving the market during the forecast period.

The global carbon capture, utilization, and storage market is expected to grow from $2.25 billion in 2022 to $2.54 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The carbon capture, utilization, and storage market size is expected to grow to $4.31 billion in 2027 at a CAGR of 14.1%.

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Global Carbon Capture, Utilization, And Storage Market Segments Include:

• 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 market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global carbon capture, utilization, and storage market in 2021.

Major Market Players in the carbon capture, utilization, and storage market include Exxon Mobil, Royal Dutch Shell, Aker Solutions, Linde, NRG Energy, Fluor, General Electric, Honeywell, Mitsubishi Heavy Industries.

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.

The Carbon Capture, Utilization, And Storage Global Market Report 2023  provides a carbon capture, utilization, and storage market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The carbon capture, utilization, and storage market forecast analyzes carbon capture, utilization, and storage market size, carbon capture, utilization, and storage market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The carbon capture, utilization, and storage refer to technologies 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.

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