US CCUS Market Size, Trends and Insights By Service (Capture, Transportation, Utilization, Storage), By Transportation (Ships, Pipelines, Terminals), By Utilization (E-fuel, E-chemical), 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 - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI40007

Published Date: January 2024

Pages: 320+

Category: Technology

Report Snapshot

CAGR: 7.1%
10.69B
2022
13.57B
2023
36.94B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: USA
Largest Market: USA

Major Players

  • Occidental Petroleum Corporation
  • Chevron Corporation
  • ExxonMobil Corporation
  • Southern Company
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the US CCUS Market is expected to record a CAGR of 7.1% from 2023 to 2050. In 2023, the market size is projected to reach a valuation of USD 13.57 Billion. By 2032, the valuation is anticipated to reach USD 36.94 Billion.

The US CCUS market involves capturing, utilizing, and storing carbon dioxide emissions to mitigate climate change. Driven by stringent environmental regulations, corporate sustainability goals, and government initiatives, key players such as Occidental Petroleum, Chevron, and ExxonMobil invest in advancing CCUS technologies.

The market addresses the need for reducing carbon footprints across industries, with ongoing trends including technological innovation, increased government funding, and a growing emphasis on sustainable recovery post-COVID-19. Overall, the US CCUS market plays a pivotal role in achieving emission reduction targets and fostering a more sustainable and resilient energy sector.

US CCUS) Market – Significant Growth Factors

The US CCUS Market presents significant growth opportunities due to several factors:

  • Government Support and Incentives: Substantial government support, including funding and incentives, acts as a major driver. Federal and state-level policies encourage investment in CCUS projects, fostering research, development, and large-scale deployment.
  • Corporate Emission Reduction Goals: Growing commitments by corporations to reduce carbon emissions drive the adoption of CCUS technologies. Companies, aiming for sustainability, integrate carbon capture to meet internal emission reduction targets and align with stakeholder expectations.
  • Advancements in CCUS Technologies: Continuous technological advancements enhance the efficiency and cost-effectiveness of CCUS solutions. Ongoing research and innovation drive the development of more sophisticated and scalable carbon capture technologies, making them increasingly viable for widespread adoption.
  • Strategic Industrial Collaborations: Partnerships and collaborations between industrial players, research institutions, and government entities stimulate growth. Joint efforts contribute to knowledge exchange, shared resources, and accelerated development and implementation of CCUS projects across various industries.
  • Integration with Hydrogen Production: The opportunity to integrate CCUS technologies with hydrogen production processes is a significant prospect. Carbon capture can play a vital role in mitigating emissions from hydrogen production, aligning with the increasing focus on hydrogen as a clean energy carrier.
  • Expansion into Industrial Sectors: Opportunities lie in expanding CCUS applications beyond power generation to various industrial sectors. The versatility of CCUS solutions can be leveraged to capture emissions from diverse industries, such as manufacturing and refining, contributing to a more comprehensive and impactful carbon reduction strategy.

US CCUS Market – Mergers and Acquisitions

The US CCUS Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the US CCUS Market include:

  • In 2023, Occidental Petroleum entered an agreement to acquire Carbon Engineering, a direct air capture (DAC) technology innovator. The integration leverages Occidental’s operational expertise with Carbon Engineering’s technology, enhancing cost and capital efficiencies. This strategic move positions Occidental to catalyze widespread partnerships for the deployment of DAC, advancing its commitment to sustainable solutions and carbon capture technologies.
  • In 2023, Carbfix hf. expands globally with a new carbon capture plant in Iceland, set to capture 3,000 tons of carbon annually. The initiative underscores the company’s commitment to sustainable practices, contributing to environmental efforts and fostering carbon capture technology advancements.
  • In 2022, Shell PLC acquired Sprang Energy, a renewable energy firm focused on reducing carbon emissions. The strategic takeover aims to enhance Shell’s carbon capture and storage capabilities, fortifying its commitment to sustainable practices and reinforcing its position in the market.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the US CCUS Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

US CCUS Market Programmatic Advertising Market Carbon Capture Utilization and Storage (CCUS) Market
CAGR 7.1% (Approx) CAGR 35% (Approx) CAGR 13.3% (Approx)
USD 36.94 Billion by 2032 USD 30.1 Billion by 2032 USD 7.5 Billion by 2032

US CCUS Market – Significant Threats

The US CCUS Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Policy and Regulatory Uncertainties: Shifting political landscapes and uncertainties in regulatory frameworks pose a significant threat to the US CCUS market. Inconsistent policies may create challenges for project planning, development, and long-term investment.
  • Economic Viability and Funding Challenges: The high initial costs of implementing CCUS technologies and potential economic downturns can pose a threat. Funding challenges and uncertainties around the economic viability of CCUS projects may hinder the market’s growth.
  • Public Opposition and Social Acceptance: Public resistance to carbon storage sites, concerns about environmental risks, and the overall social acceptance of CCUS technologies present challenges. Overcoming negative perceptions and gaining public support are crucial for project development and success.
  • Competition from Renewable Energy Sources: The increasing prominence of renewable energy sources, such as solar and wind power, poses a threat to CCUS adoption. In a rapidly evolving energy landscape, competition for investments and attention may divert focus from carbon capture technologies.
  • Limited Infrastructure and Storage Capacity: The lack of sufficient infrastructure, including pipelines and storage facilities, poses a threat to the scalability of CCUS projects. Expanding storage capacity and transportation networks for captured carbon dioxide is essential for the widespread deployment of CCUS technologies.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 13.57 Billion
Projected Market Size in 2032 USD 36.94 Billion
Market Size in 2022 USD 10.69 Billion
CAGR Growth Rate 7.1% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Service, Transportation, Utilization, Technology, End Use Industry and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope US
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Service

  • Capture: Involves capturing carbon dioxide emissions from industrial processes and power plants. Advancements in capture technologies, including solvent-based and solid sorbent systems, drive efficiency. The trend focuses on reducing capture costs, enhancing energy efficiency, and improving the scalability of carbon capture methods.
  • Transportation: Involves transporting captured carbon dioxide from industrial sites to storage locations. Emerging trends emphasize optimizing transportation networks, exploring new pipeline routes, and incorporating digital technologies to ensure safe, efficient, and cost-effective carbon dioxide delivery to storage sites.
  • Utilization: Involves repurposing captured carbon dioxide for industrial processes or producing valuable products. The trend in utilization includes integrating carbon capture with hydrogen production, creating opportunities for enhanced oil recovery, and exploring innovative uses of captured carbon dioxide in sustainable products like concrete.
  • Storage: This involves securely storing captured carbon dioxide underground to prevent it from entering the atmosphere. Trends in storage focus on identifying suitable geological formations for secure storage, utilizing depleted oil and gas fields, and employing enhanced monitoring technologies to ensure the long-term integrity and safety of storage sites.

By Transportation

  • Ships: In CCUS transportation, ships play a role in carrying captured carbon dioxide for storage or utilization. Specialized vessels transport carbon from industrial sites to storage locations, contributing to a comprehensive carbon reduction strategy. Increasing trends involve the development of purpose-built ships for safe and efficient carbon transport, addressing the maritime aspect of CCUS logistics.
  • Pipelines: Pipelines form a crucial component of CCUS infrastructure, transporting captured carbon dioxide from industrial sources to storage or utilization sites through a network of interconnected pipelines. Growing trends include the expansion and optimization of pipeline networks to support the increased transportation demands of the US CCUS market.
  • Terminals: Terminals serve as key facilities in the CCUS transportation chain, acting as points of transfer between different modes of transport and storage or utilization sites. Terminal trends involve the development of efficient transfer facilities equipped for safe and controlled handling of captured carbon, enhancing the overall CCUS transportation infrastructure.

US CCUS Market 2023–2032 (By Billion)

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By Utilization

  • E-Fuel: E-fuel, derived from capturing and utilizing carbon emissions, is gaining traction. In the US, a trend involves using renewable energy to convert captured CO2 into synthetic fuels, addressing energy storage challenges and promoting sustainable alternatives, aligning with the commitment to carbon-neutral practices.
  • E-Chemical: E-chemical utilization in the US CCUS market focuses on transforming captured carbon into chemicals, and reducing greenhouse gas emissions. A key trend involves the development of innovative processes to convert CO2 into valuable chemical products, fostering sustainable practices and circular economy initiatives in the country.

By Technology

  • Pre-combustion Capture: Pre-combustion capture involves separating carbon dioxide from fuel before combustion, typically in gasification processes. The US CCUS market sees a trend in increasing adoption of pre-combustion capture technologies, driven by their efficiency in capturing CO2 from various feedstocks, including natural gas and biomass.
  • Oxy-fuel Combustion Capture: Oxy-fuel combustion capture involves burning fossil fuels with oxygen instead of air, producing a concentrated stream of CO2 for capture. In the US CCUS market, oxy-fuel combustion gains traction as a technology with potential for high-purity CO2 capture, especially in industrial settings and power generation.
  • Post-combustion Capture: Post-combustion capture involves capturing CO2 emissions after the combustion of fossil fuels in industrial processes or power plants. Post-combustion capture technologies witness increased adoption in the US, particularly in retrofitting existing infrastructure to reduce emissions, aligning with environmental goals.

By End Use Industry

  • Oil & Gas: Involves capturing and storing carbon emissions from oil and gas operations. Growing emphasis on reducing emissions in the oil and gas sector, driven by regulatory pressure and corporate sustainability goals, led to increased adoption of CCUS technologies.
  • Power Generation: Involves capturing and storing carbon emissions from power plants. Integration of CCUS in power generation to meet stringent emission standards, with a focus on enhancing energy security and reducing the carbon footprint of electricity production.
  • Iron & Steel: Involves capturing and storing carbon emissions from iron and steel manufacturing processes. Rising demand for sustainable steel production, driving investments in CCUS technologies to reduce emissions and comply with environmental regulations.
  • Chemical & Petrochemical: Involves capturing and storing carbon emissions from chemical and petrochemical manufacturing processes. Adoption of CCUS to mitigate emissions in chemical and petrochemical industries, addressing environmental concerns and ensuring compliance with regulations.
  • Cement: Involves capturing and storing carbon emissions from cement manufacturing. Increasing focus on decarbonizing the cement industry, with CCUS technologies seen as a critical solution to reduce emissions and achieve sustainability targets.
  • Others: Encompasses diverse industries adopting CCUS technologies for emission reduction. Diverse applications of CCUS in sectors like refining, manufacturing, and bioenergy, reflect a broadening market scope driven by a collective effort to address climate change across industries.

US CCUS Market 2023–2032 (By Utilization)

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Competitive Landscape – US CCUS Market

The US Carbon Capture Utilization and Storage (CCUS) Market is highly competitive, with a large number of manufacturers and retailers operating. Some of the key players in the market include:

  • Occidental Petroleum Corporation
  • Chevron Corporation
  • ExxonMobil Corporation
  • Southern Company
  • Air Products and Chemicals Inc.
  • Linde plc
  • Equinor ASA
  • TotalEnergies SE
  • NRG Energy Inc.
  • Kiewit Corporation
  • Cenovus Energy Inc.
  • NextDecade Corporation
  • Berkshire Hathaway Energy
  • Global Thermostat LLC
  • NET Power LLC
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New entrants like Carbon Clean Solutions and Svante are driving innovation in the US CCUS market, focusing on advanced capture technologies. Established key players such as Occidental Petroleum, Chevron, and ExxonMobil dominate through substantial investments and strategic initiatives.

Occidental’s integration of direct air capture and Chevron’s collaborative ventures contribute to market leadership. ExxonMobil, with its focus on technology innovation, actively shapes CCUS advancements. Overall, a blend of innovative startups and industry giants defines a dynamic landscape, where pioneering technologies and strategic investments shape the future of carbon capture in the US.

US CCUS Market 2023–2032 (By Transportation)

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 The US CCUS Market is segmented as follows:

By Service

  • Capture
  • Transportation
  • Utilization
  • Storage

By Transportation

  • Ships
  • Pipelines
  • Terminals

By Utilization

  • E-fuel
  • E-chemical

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

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 US CCUS Market, (2023 – 2032) (USD Billion)
    • 2.2 US CCUS Market: snapshot
  • Chapter 3. US CCUS Market – Industry Analysis
    • 3.1 US CCUS Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Stringent Emission Reduction Targets
      • 3.2.2 Government Funding and Incentives
      • 3.2.3 Technological Advancements
      • 3.2.4 Corporate Commitment to Sustainability
      • 3.2.5 Hydrogen Production Integration
      • 3.2.6 Expansion into Industrial Sectors.
      • 3.2.7 Stringent Environmental Regulations
      • 3.2.8 Growing Corporate Emphasis on ESG Goals
      • 3.2.9 Advancements in CCUS Technologies
      • 3.2.10 Government Incentives and Funding
      • 3.2.11 Expansion of Carbon Capture in Industrial Sectors
      • 3.2.12 International Collaboration and Partnerships
      • 3.2.13 Strategic Partnerships for Funding and Innovation.
      • 3.2.14 Government Support and Incentives
      • 3.2.15 Corporate Emission Reduction Goals
      • 3.2.16 Advancements in CCUS Technologies
      • 3.2.17 Strategic Industrial Collaborations
      • 3.2.18 Integration with Hydrogen Production
      • 3.2.19 Expansion into Industrial Sectors.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Service
      • 3.7.2 Market Attractiveness Analysis By Transportation
      • 3.7.3 Market Attractiveness Analysis By Utilization
      • 3.7.4 Market Attractiveness Analysis By Technology
      • 3.7.5 Market Attractiveness Analysis By End Use Industry
  • Chapter 4. US CCUS Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 US CCUS Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. US CCUS Market – Service Analysis
    • 5.1 US CCUS Market Overview: By Service
      • 5.1.1 US CCUS Market Share, By Service, 2022 and 2032
    • 5.2 Capture
      • 5.2.1 US CCUS Market by Capture, 2023 – 2032 (USD Billion)
    • 5.3 Transportation
      • 5.3.1 US CCUS Market by Transportation, 2023 – 2032 (USD Billion)
    • 5.4 Utilization
      • 5.4.1 US CCUS Market by Utilization, 2023 – 2032 (USD Billion)
    • 5.5 Storage
      • 5.5.1 US CCUS Market by Storage, 2023 – 2032 (USD Billion)
  • Chapter 6. US CCUS Market – Transportation Analysis
    • 6.1 US CCUS Market Overview: By Transportation
      • 6.1.1 US CCUS Market Share, By Transportation, 2022 and 2032
    • 6.2 Ships
      • 6.2.1 US CCUS Market by Ships, 2023 – 2032 (USD Billion)
    • 6.3 Pipelines
      • 6.3.1 US CCUS Market by Pipelines, 2023 – 2032 (USD Billion)
    • 6.4 Terminals
      • 6.4.1 US CCUS Market by Terminals, 2023 – 2032 (USD Billion)
  • Chapter 7. US CCUS Market – Utilization Analysis
    • 7.1 US CCUS Market Overview: By Utilization
      • 7.1.1 US CCUS Market Share, By Utilization, 2022 and 2032
    • 7.2 E-fuel
      • 7.2.1 US CCUS Market by E-fuel, 2023 – 2032 (USD Billion)
    • 7.3 E-chemical
      • 7.3.1 US CCUS Market by E-chemical, 2023 – 2032 (USD Billion)
  • Chapter 8. US CCUS Market – Technology Analysis
    • 8.1 US CCUS Market Overview: By Technology
      • 8.1.1 US CCUS Market Share, By Technology, 2022 and 2032
    • 8.2 Pre-combustion Capture
      • 8.2.1 US CCUS Market by Pre-combustion Capture, 2023 – 2032 (USD Billion)
    • 8.3 Oxy-fuel Combustion Capture
      • 8.3.1 US CCUS Market by Oxy-fuel Combustion Capture, 2023 – 2032 (USD Billion)
    • 8.4 Post-combustion Capture
      • 8.4.1 US CCUS Market by Post-combustion Capture, 2023 – 2032 (USD Billion)
  • Chapter 9. US CCUS Market – End Use Industry Analysis
    • 9.1 US CCUS Market Overview: By End Use Industry
      • 9.1.1 US CCUS Market Share, By End Use Industry, 2022 and 2032
    • 9.2 Oil & Gas
      • 9.2.1 US CCUS Market by Oil & Gas, 2023 – 2032 (USD Billion)
    • 9.3 Power Generation
      • 9.3.1 US CCUS Market by Power Generation, 2023 – 2032 (USD Billion)
    • 9.4 Iron & Steel
      • 9.4.1 US CCUS Market by Iron & Steel, 2023 – 2032 (USD Billion)
    • 9.5 Chemical & Petrochemical
      • 9.5.1 US CCUS Market by Chemical & Petrochemical, 2023 – 2032 (USD Billion)
    • 9.6 Cement
      • 9.6.1 US CCUS Market by Cement, 2023 – 2032 (USD Billion)
    • 9.7 Others
      • 9.7.1 US CCUS Market by Others, 2023 – 2032 (USD Billion)
  • Chapter 10. US CCUS Market – Regional Analysis
    • 10.1 US CCUS Market Regional Overview
    • 10.2 US CCUS Market Share, by Region, 2022 & 2032 (USD Billion)
  • Chapter 11. Company Profiles
    • 11.1 Occidental Petroleum Corporation
      • 11.1.1 Overview
      • 11.1.2 Financials
      • 11.1.3 Product Portfolio
      • 11.1.4 Business Strategy
      • 11.1.5 Recent Developments
    • 11.2 Chevron Corporation
      • 11.2.1 Overview
      • 11.2.2 Financials
      • 11.2.3 Product Portfolio
      • 11.2.4 Business Strategy
      • 11.2.5 Recent Developments
    • 11.3 ExxonMobil Corporation
      • 11.3.1 Overview
      • 11.3.2 Financials
      • 11.3.3 Product Portfolio
      • 11.3.4 Business Strategy
      • 11.3.5 Recent Developments
    • 11.4 Southern Company
      • 11.4.1 Overview
      • 11.4.2 Financials
      • 11.4.3 Product Portfolio
      • 11.4.4 Business Strategy
      • 11.4.5 Recent Developments
    • 11.5 Air Products and Chemicals Inc.
      • 11.5.1 Overview
      • 11.5.2 Financials
      • 11.5.3 Product Portfolio
      • 11.5.4 Business Strategy
      • 11.5.5 Recent Developments
    • 11.6 Linde plc
      • 11.6.1 Overview
      • 11.6.2 Financials
      • 11.6.3 Product Portfolio
      • 11.6.4 Business Strategy
      • 11.6.5 Recent Developments
    • 11.7 Equinor ASA
      • 11.7.1 Overview
      • 11.7.2 Financials
      • 11.7.3 Product Portfolio
      • 11.7.4 Business Strategy
      • 11.7.5 Recent Developments
    • 11.8 TotalEnergies SE
      • 11.8.1 Overview
      • 11.8.2 Financials
      • 11.8.3 Product Portfolio
      • 11.8.4 Business Strategy
      • 11.8.5 Recent Developments
    • 11.9 NRG Energy Inc.
      • 11.9.1 Overview
      • 11.9.2 Financials
      • 11.9.3 Product Portfolio
      • 11.9.4 Business Strategy
      • 11.9.5 Recent Developments
    • 11.10 Kiewit Corporation
      • 11.10.1 Overview
      • 11.10.2 Financials
      • 11.10.3 Product Portfolio
      • 11.10.4 Business Strategy
      • 11.10.5 Recent Developments
    • 11.11 Cenovus Energy Inc.
      • 11.11.1 Overview
      • 11.11.2 Financials
      • 11.11.3 Product Portfolio
      • 11.11.4 Business Strategy
      • 11.11.5 Recent Developments
    • 11.12 NextDecade Corporation
      • 11.12.1 Overview
      • 11.12.2 Financials
      • 11.12.3 Product Portfolio
      • 11.12.4 Business Strategy
      • 11.12.5 Recent Developments
    • 11.13 Berkshire Hathaway Energy
      • 11.13.1 Overview
      • 11.13.2 Financials
      • 11.13.3 Product Portfolio
      • 11.13.4 Business Strategy
      • 11.13.5 Recent Developments
    • 11.14 Thermostat LLC
      • 11.14.1 Overview
      • 11.14.2 Financials
      • 11.14.3 Product Portfolio
      • 11.14.4 Business Strategy
      • 11.14.5 Recent Developments
    • 11.15 NET Power LLC
      • 11.15.1 Overview
      • 11.15.2 Financials
      • 11.15.3 Product Portfolio
      • 11.15.4 Business Strategy
      • 11.15.5 Recent Developments
    • 11.16 Others.
      • 11.16.1 Overview
      • 11.16.2 Financials
      • 11.16.3 Product Portfolio
      • 11.16.4 Business Strategy
      • 11.16.5 Recent Developments

List Of Figures

Figures No 1 to 33

List Of Tables

Tables No 1 to 2

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Occidental Petroleum Corporation
  • Chevron Corporation
  • ExxonMobil Corporation
  • Southern Company
  • Air Products and Chemicals Inc.
  • Linde plc
  • Equinor ASA
  • TotalEnergies SE
  • NRG Energy Inc.
  • Kiewit Corporation
  • Cenovus Energy Inc.
  • NextDecade Corporation
  • Berkshire Hathaway Energy
  • Global Thermostat LLC
  • NET Power LLC
  • Others

FAQs

The key factors driving the Market are Government Support and Incentives, Corporate Emission Reduction Goals, Advancements in CCUS Technologies, Strategic Industrial Collaborations, Integration with Hydrogen Production And Expansion into Industrial Sectors.

The “Capture” category dominated the market in 2022.

The key players in the market are Occidental Petroleum Corporation, Chevron Corporation, ExxonMobil Corporation, Southern Company, Air Products and Chemicals Inc., Linde plc, Equinor ASA, TotalEnergies SE, NRG Energy Inc., Kiewit Corporation, Cenovus Energy Inc., NextDecade Corporation, Berkshire Hathaway Energy, Global Thermostat LLC, NET Power LLC, Others.

The market is projected to grow at a CAGR of 7.1% during the forecast period, 2023-2032.

The US Carbon Capture Utilization and Storage (CCUS) Market size was valued at USD 13.57 Billion in 2023.

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