Carbon Capture & Sequestration Market by Service (Capture, Storage, Transportation), Application (Agricultural, EOR Process, Industrial) - Global Forecast 2024-2030

The Carbon Capture & Sequestration Market grew from USD 10.00 billion in 2023 to USD 11.11 billion in 2024. It is expected to continue growing at a CAGR of 12.24%, reaching USD 22.46 billion by 2030.

Governments worldwide are implementing policies and regulations to encourage the adoption of CCS technologies. These include financial incentives, tax credits, carbon pricing mechanisms, and emissions reduction targets. Supportive government policies play a crucial role in driving the growth of the CCS market. However, the high initial investments and issues related to safety concerns can hinder market growth. Furthermore, ongoing research and development efforts are focused on improving CCS technologies, making them more efficient and cost-effective. Innovations in capture methods, storage techniques, and monitoring systems are key focus areas for technology developers, which are anticipated to create growth opportunities for the market.

The CCS market landscape in the Americas is driven by supportive government policies, increasing project investments, growing research and development efforts, and a significant growth of the oil and gas industry. As countries strive to meet emission reduction targets and address climate change, CCS is expected to play a vital role in mitigating CO2 emissions and transitioning to a low-carbon economy in the region. The EMEA region is expected to experience significant carbon capture and sequestration market growth due to the rapidly expanding environmental concerns in Germany, Italy, the United Kingdom, South Arabia, and the Netherlands. The favorable governmental laws and regulations for pollution management and control in the EMEA region positively influence the carbon capture and sequestration market. Moreover, academic institutions, research organizations, and industry players in EMEA have been actively engaged in CCS research and development. Research efforts have focused on improving capture technologies, storage site characterization, and developing cost-effective and efficient CCS solutions. The CCS market landscape in APAC is characterized by growing interest and investments in CCS projects, driven by the need to reduce emissions from fossil fuel-based industries and achieve climate goals. Government initiatives, pilot projects, and research collaborations contribute to the region's advancement of CCS technologies and infrastructure. As countries in APAC continue to prioritize emissions reduction and sustainable development, CCS is expected to play an increasingly important role in their decarbonization strategies.

Market Dynamics

The market dynamics represent an ever-changing landscape of the Carbon Capture & Sequestration Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

• Market Drivers
  • Increasing Concern Over the Environment
  • Rise in Demand for Carbon Dioxide Enhanced Oil Recovery Techniques
  • Growing Number of Government Plans to Reduce Carbon Dioxide Emission
• Market Restraints
  • High Initial Investment is Required for Carbon Capture & Sequestration
• Market Opportunities
  • Possibilities of Utilization of Carbon Dioxide Collected via Carbon Capture & Sequestration as an Asset
  • Increasing Demand for Carbon Capture and Storage Technologies
• Market Challenges
  • Growth in the Safety Concerns at Storage Sites

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Carbon Capture & Sequestration Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Carbon Capture & Sequestration Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Carbon Capture & Sequestration Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Recent Developments

• Sumitomo Corporation invests in Direct Air Capture technology pioneer Global Thermostat: 

  Sumitomo Corporation has invested in Global Thermostat to develop and deploy a leading technology for directly capturing atmospheric carbon dioxide. Through this investment, the companies are planning to establish a new line of global business for carbon capture and sequestration centered around Global Thermostat's pioneering Direct Air Capture (DAC) technology.

• CGG and Paragon Collaborate on Carbon Sequestration in North America: 

  CGG, a geoscience company, and Paragon Geophysical Services Inc., an integrated service provider, announced a joint venture for carbon capture and sequestration (CCS) in North America. This partnership is anticipated to provide additional value for the region's net-zero emission energy transition.

• Bayou Bend Expands Carbon Capture Project to Onshore Southeast Texas: 

  Chevron Corporation’s Bayou Bend carbon capture project has expanded to an onshore site in Southeast Texas. This groundbreaking project aims to develop safe, reliable, and cost-effective decarbonization solutions while promoting the region's economic growth.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Carbon Capture & Sequestration Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Carbon Capture & Sequestration Market, highlighting leading vendors and their innovative profiles. These include Air Products and Chemicals, Inc., Aker Solutions ASA, Baker Hughes Company, BP PLC, Carbon Clean Solutions Limited, Carbon Engineering Ltd., Carbon8 Systems Ltd., CarbonFree, Cenovus Inc., Climeworks, Equinor ASA, Exxon Mobil Corporation, Fluor Corporation, General Electric Company, Global Thermostat, Halliburton Company, Hitachi, Ltd., Honeywell International Inc., Kinder Morgan, Inc., LanzaTech, Linde PLC, Mitsubishi Heavy Industries, Ltd., Petroliam Nasional Berhad, Royal Dutch Shell PLC, Saipem S.p.A., Sasol Limited, Schlumberger Limited, Siemens AG, TotalEnergies SE, and Wood PLC.

Market Segmentation & Coverage

This research report categorizes the Carbon Capture & Sequestration Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Service
  • Capture
    • Oxy-Fuel Combustion
    • Post-Combustion Capture
    • Pre-Combustion Capture
  • Storage
  • Transportation
• Application
  • Agricultural
  • EOR Process
  • Industrial

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

The report offers valuable insights on the following aspects

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as

1. What is the market size and forecast of the Carbon Capture & Sequestration Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Carbon Capture & Sequestration Market?
3. What are the technology trends and regulatory frameworks in the Carbon Capture & Sequestration Market?
4. What is the market share of the leading vendors in the Carbon Capture & Sequestration Market?
5. Which modes and strategic moves are suitable for entering the Carbon Capture & Sequestration Market?

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