HYDERABAD, TELANGANA, INDIA, March 22, 2022 /EINPresswire.com/ -- Carbon Capture, Utilization & Storage Market Forecasts to 2028 – Global Analysis By Service (Capture, Transportation, Storage, Utilization), Technology (Pre-Combustion Capture, Post-Combustion Capture) and By Geography

The Global Carbon Capture, Utilization & Storage Market is accounted for $2.10 billion in 2021 and is expected to reach $11.69 billion by 2028 growing at a CAGR of 27.8% during the forecast period. Carbon capture, utilization, and storage is the process of capturing carbon dioxide from fuel combustion or industrial processes, the transport of this CO2 through ship or pipeline, and either its use as a resource to create valuable products or services or its permanent storage deep underground in geological formations. CCUS technologies also provide the foundation for carbon removal or negative emissions when the CO2 comes from bio-based processes or directly from the atmosphere. Energy sector is the fastest growing industry, as it generates a massive amount of CO2 and hence attracts multiple stakeholders to reduce these emissions. North America is projected to hold the largest market share owing to the rising demand from end-use industries in the region, large scale development projects of carbon capture, utilization, and storage, and the availability of multiple large-scale CCUS facilities in the U.S. and Canada. Europe is projected to have the highest CAGR due to the rise in number of CCUS projects in Netherlands and U.K. and increasing applications of CCU in the enhanced oil recovery (EOR) in the oil and gas segment.

Some of the key players profiled in the Carbon Capture, Utilization & Storage Market include Mitsubishi Heavy Industries Ltd, General Electric, Siemens AG, BASF SE, Schlumberger Limited, Halliburton, ExxonMobil Corporation, Honeywell International Inc, Linde AG, Carbon Cycle Ltd, Joule Unlimited Inc, MBD Energy Ltd, Fluor Corporation, Integrated Carbon, Sequestration Pty. Ltd, Skyonic Corp, AkerSolutions, and Dioxide Materials Inc.

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