Austin, TX, USA, Aug. 07, 2023 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Carbon Capture Utilization and Storage (CCUS) Market Size, Trends and Insights By Service (Capture, Transportation, Utilization, Storage), By Technology (Pre-combustion capture, Oxy-fuel combustion capture, Post-combustion capture), By End Use Industry (Oil & gas, Power generation, Iron & steel, Chemical & petrochemical, Cement, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Carbon Capture Utilization and Storage (CCUS) Market size & share was valued at approximately USD 2.1 Billion in 2022 and is expected to reach USD 2.6 Billion in 2023 and is expected to reach a value of around USD 7.5 Billion by 2032, at a compound annual growth rate (CAGR) of about 13.3% during the forecast period 2023 to 2032.”

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Carbon Capture Utilization and Storage (CCUS) Market: Growth Factors and Dynamics

• Environmental Regulations and Climate Goals: Stringent environmental regulations and the urgent need to mitigate climate change have led to an increased focus on CCUS technologies. Governments worldwide are implementing policies and setting ambitious climate goals, driving investments in CCUS projects as a crucial component of greenhouse gas reduction strategies.

• Corporate Sustainability Initiatives: Many companies are embracing sustainability as a core business value and committing to carbon neutrality or net-zero emissions. CCUS provides a viable solution for industries seeking to offset their carbon footprint and align with sustainable practices, leading to a surge in CCUS adoption.

• Advancements in CCUS Technologies: Ongoing research and development efforts are leading to advancements in CCUS technologies, making them more cost-effective and efficient. Innovations in carbon capture, transportation, utilization, and storage are attracting investment and driving market growth.

• Economic Incentives and Funding Support: Governments and private sector entities are offering financial incentives, grants, and funding support to promote CCUS projects. These incentives encourage businesses to invest in CCUS technologies, further stimulating the market.

• Utilization Opportunities: Carbon capture can be utilized for enhanced oil recovery (EOR), where captured CO2 is injected into oil reservoirs to increase oil production. The potential revenue from EOR and other utilization opportunities creates a compelling business case for CCUS deployment.

• Carbon Market and Trading: The emergence of carbon markets and carbon trading mechanisms incentivizes industries to capture and store carbon to generate carbon credits or offsets. These credits can be traded, providing financial value to carbon capture and storage projects and encouraging further market growth.

• Growing Investment in Clean Energy: The transition to clean energy sources, such as renewables, is a significant driver for the CCUS market. As the world moves towards decarbonization and reducing reliance on fossil fuels, CCUS technologies play a crucial role in enabling the continued use of fossil-based energy with reduced emissions. Investment in CCUS complements the growth of clean energy initiatives, ensuring a smoother and more sustainable transition to a low-carbon economy.

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Report Scope

Feature of the Report	Details
Market Size in 2023	USD 2.6 Billion
Projected Market Size in 2032	USD 7.5 Billion
Market Size in 2022	USD 2.1 Billion
CAGR Growth Rate	13.3% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Service, Technology, End Use Industry and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Carbon Capture Utilization and Storage (CCUS) report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
• The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
• About 220+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on the Request.
• Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated.
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis 
• Custom Market Insights (CMI) research methodology

(Please note that the sample of the Carbon Capture Utilization and Storage (CCUS) report has been modified to include the COVID-19 impact study prior to delivery.)

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Carbon Capture Utilization and Storage (CCUS) Market: Mergers and Acquisitions

• Occidental Petroleum and 1PointFive: Occidental Petroleum and 1PointFive, a subsidiary of Oxy Low Carbon Ventures, are commencing the construction of the world’s largest direct air capture (DAC) plant in the Texas Permian Basin. The plant aims to capture carbon dioxide (CO2) directly from the atmosphere using advanced technology. Once operational, it will have the capacity to significantly reduce CO2 emissions, making a substantial contribution to combating climate change and promoting sustainable practices in the energy sector.

• Chevron Acquires Noble Midstream Partners: In 2021, Chevron completed the acquisition of Noble Midstream Partners, an energy infrastructure company. The acquisition included ownership in carbon capture projects, aligning with Chevron’s commitment to sustainable energy and CCUS initiatives.

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Key questions answered in this report:

• What is the size of the Carbon Capture Utilization and Storage (CCUS) market and what is its expected growth rate?
• What are the primary driving factors that push the Carbon Capture Utilization and Storage (CCUS) market forward?
• What are the Carbon Capture Utilization and Storage (CCUS) Industry’s top companies?
• What are the different categories that the Carbon Capture Utilization and Storage (CCUS) Market caters to?
• What will be the fastest-growing segment or region?
• In the value chain, what role do essential players play?
• What is the procedure for getting a free copy of the Carbon Capture Utilization and Storage (CCUS) market sample report and company profiles?

Key Offerings:

• Market Share, Size & Forecast by Revenue | 2022−2030
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
• Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Carbon Capture Utilization and Storage (CCUS) Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Carbon Capture Utilization and Storage (CCUS) Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Delayed Investments: The COVID-19 pandemic led to economic uncertainties, causing some companies and governments to delay or scale back investments in CCUS projects. With the focus shifting to immediate health and economic concerns, funding for long-term projects like CCUS was affected.

• Supply Chain Disruptions: The pandemic disrupted global supply chains, affecting the production and delivery of critical equipment and materials for CCUS projects. Delays in equipment procurement and transportation hindered project timelines and implementation.

• Government Stimulus and Funding: Governments are likely to introduce stimulus packages and funding support to revive economies post-COVID. Such initiatives can include financial incentives for clean energy projects, including CCUS, encouraging increased investments in the market.

• Emphasis on Sustainable Recovery: As countries seek to rebuild their economies, there is a growing emphasis on sustainable and green recovery strategies. Governments may prioritize CCUS projects as part of their efforts to address climate change and promote environmental sustainability.

• Accelerated Research and Innovation: The pandemic highlighted the importance of resilience and preparedness for future crises. As a result, research and innovation in CCUS technologies may receive increased attention to drive efficiency improvements and cost reductions, making CCUS more attractive to investors.

• Collaborative Initiatives: Post-COVID, there is an opportunity for increased collaboration between governments, industries, and research institutions to address climate challenges. Partnerships and joint ventures can drive collective efforts to accelerate the deployment of CCUS projects and advance the technology.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Carbon Capture Utilization and Storage (CCUS) Market, with some challenges and opportunities arising from the pandemic. Manufacturers and retailers need to remain agile and adapt to the changing market conditions to overcome these challenges and capitalize on new growth opportunities.

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Browse the full “Carbon Capture Utilization and Storage (CCUS) Market Size, Trends and Insights By Service (Capture, Transportation, Utilization, Storage), By Technology (Pre-combustion capture, Oxy-fuel combustion capture, Post-combustion capture), By End Use Industry (Oil & gas, Power generation, Iron & steel, Chemical & petrochemical, Cement, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” Report at https://www.custommarketinsights.com/report/carbon-capture-utilization-and-storage-market/

List of the prominent players in the Carbon Capture Utilization and Storage (CCUS) Market:

• ExxonMobil Corporation
• Royal Dutch Shell plc
• Chevron Corporation
• TotalEnergies SE
• BP plc
• Equinor ASA
• Mitsubishi Heavy Industries Ltd.
• Air Products and Chemicals Inc.
• Aker Solutions ASA
• Schlumberger Limited
• Others

Carbon Capture Utilization and Storage (CCUS) Market – Regional Analysis

The Carbon Capture Utilization and Storage (CCUS) Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America: The Carbon Capture Utilization and Storage (CCUS) market in North America is experiencing a significant trend, characterized by growing government support and private sector investments in sustainable technologies. The region’s strong emphasis on curbing carbon emissions and shifting towards cleaner energy sources is driving the adoption of CCUS solutions to achieve ambitious climate objectives. ExxonMobil Corporation, Chevron Corporation, and Occidental Petroleum Corporation are key players in North America’s CCUS market.

• Europe: In Europe, the CCUS market trend revolves around robust environmental policies and the commitment to achieve carbon neutrality. The European Union’s climate targets and carbon pricing mechanisms drive companies to invest in CCUS as a crucial tool for carbon reduction and compliance with stringent regulations. Major players in Europe’s CCUS market include Royal Dutch Shell plc, Equinor ASA, and TotalEnergies SE.

• Asia-Pacific: In the Asia-Pacific region, the CCUS market trend is influenced by rapid industrialization, increasing energy demand, and growing environmental awareness. Governments and industries are recognizing the importance of CCUS to balance economic growth with environmental sustainability.

• LAMEA (Latin America, Middle East, and Africa): This region has rich oil and gas reserves and the drive to diversify energy sources while addressing climate concerns. Governments and industries are exploring CCUS as a solution to reduce carbon emissions from the fossil fuel sector. Prominent players in LAMEA’s CCUS market include Saudi Aramco, Abu Dhabi National Oil Company (ADNOC), and Qatar Petroleum. These national oil companies play a significant role in the region’s energy landscape and are actively exploring CCUS opportunities to support sustainable development.

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The Carbon Capture Utilization and Storage (CCUS) Market is segmented as follows:

By Service

• Capture
• Transportation
• Utilization
• Storage

By Technology

• Pre-combustion capture
• Oxy-fuel combustion capture
• Post-combustion capture

By End Use Industry

• Oil & gas
• Power generation
• Iron & steel
• Chemical & petrochemical
• Cement
• Others

Click Here to Get a Free Sample Report of the Global Carbon Capture Utilization and Storage (CCUS) Market @ https://www.custommarketinsights.com/report/carbon-capture-utilization-and-storage-market/

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

This Carbon Capture Utilization and Storage (CCUS) Market Research/Analysis Report Contains Answers to the following Questions.

• Which Trends Are Causing These Developments?
• Who Are the Global Key Players in This Carbon Capture Utilization and Storage (CCUS) Market? What are Their Company Profile, Product Information, and Contact Information?
• What Was the Global Market Status of the Carbon Capture Utilization and Storage (CCUS) Market? What Was the Capacity, Production Value, Cost and PROFIT of the Carbon Capture Utilization and Storage (CCUS) Market?
• What Is the Current Market Status of the Carbon Capture Utilization and Storage (CCUS) Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Carbon Capture Utilization and Storage (CCUS) Market by Considering Applications and Types?
• What Are Projections of the Global Carbon Capture Utilization and Storage (CCUS) Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
• What Is Carbon Capture Utilization and Storage (CCUS) Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
• What Is the Economic Impact On Carbon Capture Utilization and Storage (CCUS) Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
• What Are Market Dynamics of Carbon Capture Utilization and Storage (CCUS) Market? What Are Challenges and Opportunities?
• What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Carbon Capture Utilization and Storage (CCUS) Industry?

Click Here to Access a Free Sample Report of the Global Carbon Capture Utilization and Storage (CCUS) Market @ https://www.custommarketinsights.com/report/carbon-capture-utilization-and-storage-market/

Reasons to Purchase Carbon Capture Utilization and Storage (CCUS) Market Report

• Carbon Capture Utilization and Storage (CCUS) Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
• Carbon Capture Utilization and Storage (CCUS) Market report outlines market value (USD) data for each segment and sub-segment.
• This report indicates the region and segment expected to witness the fastest growth and dominate the market.
• Carbon Capture Utilization and Storage (CCUS) Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
• The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
• Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
• The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
• Carbon Capture Utilization and Storage (CCUS) Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

• The study provides a thorough overview of the global Carbon Capture Utilization and Storage (CCUS) market. Compare your performance to that of the market as a whole.

• Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

• Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Carbon Capture Utilization and Storage (CCUS) market analysis.

• The competitive environment of current and potential participants in the Carbon Capture Utilization and Storage (CCUS) market is covered in the report, as well as those companies’ strategic product development ambitions.

• According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

• For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

• Participants and stakeholders worldwide Carbon Capture Utilization and Storage (CCUS) market should find this report useful. The research will be useful to all market participants in the Carbon Capture Utilization and Storage (CCUS) industry.
• Managers in the Carbon Capture Utilization and Storage (CCUS) sector are interested in publishing up-to-date and projected data about the worldwide Carbon Capture Utilization and Storage (CCUS) market.
• Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Carbon Capture Utilization and Storage (CCUS) products’ market trends.
• Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

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