Carbon Capture And Sequestration Market to Reach Valuation of USD 7.49 Billion by 2030 – Growth in the Usage of Carbon Capture And Sequestration in Automotive Application Drives the Market

Carbon Capture And Sequestration is a crucial technology that has attracted more interest and funding in recent years as a way to cut greenhouse gas emissions and combat climate change. The procedure entails removing carbon dioxide (CO2) from power generation or industrial activities and sending it to a storage location, such as subterranean geological formations, where it is kept there permanently. The demand for clean energy, government policies and regulations, technological advancements, public awareness and opinion, investment and funding, infrastructure and storage capacity, and a variety of players, including technology providers, service providers, and equipment suppliers, all contribute to the market's anticipated significant growth in the years to come.

Key Highlights from the Report

· Based on Capture Source, natural gas processing segment is dominating the market. This is due to the increased production of oil and gas.

· Based on End Use, Enhanced oil recovery segment is likely to dominate the market due to the increased demand for fossil fuels in various commercial and residentials areas.

· In terms of Region, North America holds the significant market share within the Carbon Capture And Sequestration market and will continue to dominate during the forecast period. Some of the leading contributors to carbon emissions are located in the continent, the oil and gas sector in North America has also played a significant role in boosting the market.

Market Dynamics

Some of the key drivers driving the growth of the Carbon Capture And Sequestration market are rapid industrialization, the increasing need to reduce carbon emissions, the implementation of strict environmental regulations, and the expanding popularity of sustainable technologies.

Technologies for Carbon Capture And Sequestration have come under the limelight as a result of the growing need to combat global warming as a result of greater emission levels. The largest industries in the world, which are the main sources of carbon emissions, are utilizing CCS technologies more and more. The market for Carbon Capture And Sequestration is expanding as a result, and this trend is likely to remain for the foreseeable future.

Several projects are being launched by governments all over the world to promote the use of Carbon Capture And Sequestration technologies. To reduce the production of carbon dioxide from industry and power plants, new restrictions are continually being put into place. Throughout the foreseeable period, this will keep the need for CCS technologies rising.

The future for the business is likely to be hampered by the high capital expenditure requirements of Carbon Capture And Sequestration systems. Due to its relative complexity and expensive initial investment requirements, CCS projects are not widely adopted. Also, greater help is needed for carbon capture programmes' capture and storage equipment operations.

The Global Carbon Capture And Sequestration Market is Segmented as follows

• End-Use
  • Enhanced Oil Recovery (EOR)
  • Dedicated Storage & Treatment
• Capture Source
  • Chemicals
  • Natural Gas Processing
  • Power Generation
  • Fertilizers Production
  • Other Capture Sources
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Carbon Capture And Sequestration Market is

Fluor Corporation (U.S.), Exxon Mobil (U.S.), Carbon Engineering Ltd. (Canada), ADNOC Group (UAE), Equinor (Norway), China National Petroleum Corporation (China), Dakota Gasification Company (U.S.), Shell (Netherlands), BP (UK), Chevron (U.S.), Linde (Ireland), Total (France), Aker Solutions (Norway), NRG Energy (U.S.)

The Global Carbon Capture And Sequestration Market Scope can be Tabulated as below