조사회사 : MarketsandMarkets (마켓츠앤마켓츠) 출판년월 : 2024년06월
CCUS Absorption Market – Global Forecast to 2030
CCUS 흡수 시장 : 흡수 타입(화학 흡수, 물리 흡수), 최종 용도 산업(석유·가스, 발전, 화학·석유 화학, 시멘트, 철강), 지역별 – 2030년까지의 세계 예측
CCUS Absorption Market by Absorption Type (Chemical Absorption, Physical Absorption), End-Use Industry (Oil & Gas, Power Generation, Chemical & Petrochemical, Cement, Iron & Steel), and Region – Global Forecast to 2030
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| 구성 | 영문조사보고서 |
Report Overview
The global CCUS Absorption market size is projected to grow from USD 0.4 Billion in 2024 to USD 1.7 Billion by 2030, at a CAGR of 26.5% during the forecast period.
세계 CCUS 흡수 시장 규모는 예측 기간 동안 26.5%의 CAGR로 2024년 4억 달러에서 2030년까지 17억 달러로 성장할 것으로 예측됩니다.
Governments across the globe are playing a crucial role in implementing Carbon Capture, Utilization, and Storage (CCUS) absorption. They are providing policy support, regulatory frameworks, and financial incentives to encourage the adoption of CCUS technology. For instance, the Australian government has implemented regulations to incentivize private sector investment in CCUS to ensure emission reductions. Similarly, the European Union has identified CCUS as a key strategic net zero technology and is providing funding for CCUS projects under the Innovation Fund and the Connecting Europe Facility. Governments are also creating enabling environments for CCUS projects by establishing carbon pricing systems, providing capital grants and loans, and offering tax credits to address capital and operating costs. Additionally, governments are accelerating administrative and permitting procedures by establishing clear permit approval timelines and designating regulatory agencies as one-stop-shops for all permitting activities. These efforts are crucial for achieving the widespread adoption of CCUS technology and reducing greenhouse gas emissions.
“Chemical absorption to continue dominatin the CCUS Absorption market”
The chemical absorption type is expected to continue holding the largest market share in the CCUS absorption market due to its widespread adoption and proven effectiveness. Chemical absorption involves the use of a solvent to capture CO2 from flue gas, which is a well-established and mature technology. The process is widely used in various industries, including power generation, oil and gas, and chemical processing. The chemical absorption method is also relatively cost-effective compared to other methods, such as membrane separation and cryogenic distillation. Additionally, the technology has been continuously improved and optimized over the years, making it more efficient and reliable. Key players like ExxonMobil and Chevron have also invested heavily in developing and commercializing chemical absorption technology, further solidifying its position in the market. As a result, chemical absorption is likely to continue dominating the CCUS absorption market, driven by its established presence, cost-effectiveness, and ongoing technological advancements
“Power Generation to be the second largest industry in CCUS Absorption market”
The power generation end-use industry is poised to continue holding the second largest market share in the CCUS absorption market due to the significant role it plays in reducing greenhouse gas emissions. The industry is a major source of CO2 emissions, and the adoption of CCUS technology is crucial for achieving net-zero emissions. Governments worldwide are implementing policies to reduce emissions from power generation, driving the demand for CCUS solutions. Additionally, the increasing focus on renewable energy sources and the need for flexible power generation options are also driving the adoption of CCUS technology in the power sector. Key players in the industry, such as ExxonMobil and Chevron, are actively exploring CCUS technologies to reduce their carbon footprint and meet regulatory requirements. The power generation industry’s significant market share in the CCUS market is expected to continue as it plays a vital role in achieving a low-carbon future.
“North America to be the dominating region in CCUS Absorption market in terms of both value and volume.”
North America is expected to continue dominating the CCUS Absorption (CCUS) absorption market due to several factors. The region’s strong emphasis on curbing carbon emissions and shifting towards cleaner energy sources drives the adoption of CCUS solutions to achieve these goals. The presence of key players like ExxonMobil, Chevron, and Linde, which are actively exploring CCUS technologies, also contributes to the region’s dominance. Additionally, the region’s extensive programs for research and development, as well as funding incentives in the form of tax credits, support the development and deployment of CCUS projects. Furthermore, the region’s regulatory framework, which includes policies like the 45Q tax credit, provides a favorable environment for CCUS projects to thrive. These factors combined ensure that North America will continue to lead the global CCUS market in the coming years.
This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:
By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
By Designation- C Level- 50%, Director Level- 30%, and Others- 20%
By Region- North America- 15%, Europe- 50%, Asia Pacific (APAC) – 20%, South America-10%, Middle East & Africa (MEA) -5%,
The report provides a comprehensive analysis of company profiles :
ExxonMobil Corporation (US), Equinor ASA (Norway), Honeywell International Inc. (US), Fluor Corporation (US), Mitsubishi Heavy Industries Ltd. (Japan), Royal Dutch Shell Plc (Britain), TotalEnergies SE (France), BASF SE (Germany), JGC Holdings Corporation (Japan), Schlumberger Ltd. (US), Aker Solutions (Norway), Siemens AG (Germany), Hitachi Ltd. (Japan), General Electric (US), Chevron Ion Clean Energy (US).
Research Coverage
This report covers the global CCUS Absorption market and forecasts the market size until 2030. It includes the following market segmentation – by Absorption type (Chemical Absorption, Physical Absorption), by End-Use Industry ( Oil & Gas, Power Generation, Chemicals & Petrochemicals, Cement, Iron & Steel, and Others), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America). Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global CCUS Absorption market.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall CCUS Absorption market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Growing environmental consciousness to lower carbon footprints, Changing emission standards and regulations across the globe), restraints (High cost of carbon capture and storage, increasing cost for solvents), opportunities (ongoing research and development to create more advanced capture methods, Expanding in the Asia-Pacific region), and challenges (Higher CO2 capture costs, High CAPEX for deployment of CCUS) are influencing the growth of the CCUS Absorption market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the CCUS Absorption market
• Market Development: Comprehensive information about lucrative markets – the report analyses the CCUS Absorption market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the CCUS Absorption market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like ExxonMobil Corporation (US), Equinor ASA (Norway), Honeywell International Inc. (US), Fluor Corporation (US), Mitsubishi Heavy Industries Ltd. (Japan), Royal Dutch Shell Plc (Britain), TotalEnergies SE (France), BASF SE (Germany), JGC Holdings Corporation (Japan), Schlumberger Ltd. (US), Aker Solutions (Norway), Siemens AG (Germany), Hitachi Ltd. (Japan), General Electric (US), Chevron Ion Clean Energy (US), among others in the CCUS Absorption market.
Table of Contents
1 INTRODUCTION 36
1.1 STUDY OBJECTIVES 36
1.2 MARKET DEFINITION 36
1.2.1 INCLUSIONS AND EXCLUSIONS 36
1.3 STUDY SCOPE 37
1.3.1 CCUS ABSORPTION MARKET SEGMENTATION 37
1.3.2 REGIONS COVERED 37
1.3.3 YEARS CONSIDERED 38
1.4 CURRENCY CONSIDERED 38
1.5 UNITS CONSIDERED 38
1.6 RESEARCH LIMITATIONS 38
1.7 STAKEHOLDERS 39
2 RESEARCH METHODOLOGY 40
2.1 RESEARCH DATA 40
FIGURE 1 CCUS ABSORPTION MARKET: RESEARCH DESIGN 41
2.2 BASE NUMBER CALCULATION 42
2.2.1 MARKET SIZE ESTIMATION 42
2.2.2 MARKET SIZE CALCULATION, BY END-USE INDUSTRY 42
2.3 FORECAST NUMBER CALCULATION 43
2.3.1 SECONDARY DATA 43
2.3.1.1 Key data from secondary sources 43
2.3.2 PRIMARY DATA 43
2.3.2.1 Key data from primary sources 44
2.3.2.2 Interviews with experts – Top players in CCUS absorption market 44
2.3.2.3 Breakdown of interviews with experts 45
2.3.2.4 Key industry insights 45
2.4 MARKET SIZE ESTIMATION 46
2.4.1 BOTTOM-UP APPROACH 46
FIGURE 2 CCUS ABSORPTION MARKET: BOTTOM-UP APPROACH 46
2.4.2 TOP-DOWN APPROACH 47
FIGURE 3 CCUS ABSORPTION MARKET: TOP-DOWN APPROACH 47
2.5 DATA TRIANGULATION 47
FIGURE 4 CCUS ABSORPTION MARKET: DATA TRIANGULATION 48
2.6 IMPACT OF RECESSION 48
2.7 FACTOR ANALYSIS 49
2.8 RESEARCH ASSUMPTIONS 49
2.9 MARKET GROWTH RATE ASSUMPTIONS/GROWTH FORECAST 50
2.10 RESEARCH LIMITATIONS 50
2.11 RISKS ASSOCIATED WITH CCUS MARKET 50
3 EXECUTIVE SUMMARY 51
FIGURE 5 CHEMICAL ABSORPTION SEGMENT DOMINATED MARKET IN 2023 51
FIGURE 6 OIL & GAS INDUSTRY ACCOUNTED FOR LARGEST MARKET SHARE IN 2023 52
FIGURE 7 NORTH AMERICA ACCOUNTED FOR LARGEST MARKET SHARE IN 2023 53
4 PREMIUM INSIGHTS 54
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN CCUS ABSORPTION MARKET 54
FIGURE 8 INCREASING GOVERNMENT SUPPORT TO DRIVE MARKET 54
4.2 CCUS ABSORPTION MARKET, BY ABSORPTION TYPE AND REGION, 2023 54
FIGURE 9 CHEMICAL ABSORPTION SEGMENT AND NORTH AMERICA ACCOUNTED FOR LARGEST SHARES IN 2023 54
4.3 CCUS ABSORPTION MARKET, BY ABSORPTION TYPE 55
FIGURE 10 CHEMICAL ABSORPTION HELD LARGEST SHARE IN 2023 55
4.4 CCUS ABSORPTION MARKET, BY END-USE INDUSTRY 55
FIGURE 11 OIL & GAS END-USE INDUSTRY ACCOUNTED FOR LARGEST SHARE IN 2023 55
4.5 CCUS ABSORPTION MARKET, BY KEY COUNTRY 56
FIGURE 12 MARKET IN CHINA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 56
5 MARKET OVERVIEW 57
5.1 INTRODUCTION 57
5.2 MARKET DYNAMICS 58
FIGURE 13 CCUS ABSORPTION MARKET: MARKET DYNAMICS 58
5.2.1 DRIVERS 58
5.2.1.1 Increasing number of carbon-intensive industries 58
5.2.1.2 Growing focus on reducing CO2 emissions 59
TABLE 1 COUNTRY-WISE LIST OF ZERO-EMISSION TARGETS 59
5.2.1.3 Government initiatives in CCUS technologies 60
5.2.2 RESTRAINTS 60
5.2.2.1 High cost associated with carbon capture technology 60
5.2.2.2 Competition from alternative carbon capture technologies 60
5.2.3 OPPORTUNITIES 61
5.2.3.1 Continuous investments in developing innovative carbon absorption technologies 61
5.2.3.2 Announcements of large capacity hydrogen projects 61
TABLE 2 ANNOUNCED HYDROGEN PROJECTS 62
5.2.3.3 Large number of upcoming projects in Asia Pacific 63
5.2.4 CHALLENGES 63
5.2.4.1 Reducing cost of CO2 capture 63
5.2.4.2 High initial investment cost 63
5.3 PORTER’S FIVE FORCES ANALYSIS 64
FIGURE 14 CCUS ABSORPTION MARKET: PORTER’S FIVE FORCES ANALYSIS 64
5.3.1 THREAT OF NEW ENTRANTS 64
5.3.2 THREAT OF SUBSTITUTES 65
5.3.3 BARGAINING POWER OF SUPPLIERS 65
5.3.4 BARGAINING POWER OF BUYERS 65
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 65
TABLE 3 CCUS ABSORPTION MARKET: PORTER’S FIVE FORCES ANALYSIS 66
5.4 SUPPLY CHAIN ANALYSIS 66
TABLE 4 CCUS ABSORPTION MARKET: ROLE OF COMPANIES IN ECOSYSTEM 66
5.4.1 RAW MATERIAL 67
5.4.2 MANUFACTURING PROCESS 67
5.4.3 FINAL PRODUCT 67
5.5 VALUE CHAIN ANALYSIS 67
FIGURE 15 CCUS ABSORPTION MARKET: VALUE CHAIN ANALYSIS 67
5.6 KEY STAKEHOLDERS AND BUYING CRITERIA 68
5.6.1 KEY STAKEHOLDERS IN BUYING PROCESS 68
FIGURE 16 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES 68
TABLE 5 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES IN CCUS ABSORPTION MARKET 68
5.6.2 BUYING CRITERIA 69
FIGURE 17 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES 69
TABLE 6 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES IN CCUS ABSORPTION MARKET 69
5.7 PATENT ANALYSIS 70
5.7.1 INTRODUCTION 70
5.7.2 METHODOLOGY 70
5.7.3 DOCUMENT TYPE 70
TABLE 7 TOTAL NUMBER OF PATENTS 70
FIGURE 18 PATENT ANALYSIS, BY DOCUMENT TYPE 71
FIGURE 19 PATENT PUBLICATION TREND, 2018−2023 71
5.7.4 INSIGHTS 71
5.7.5 LEGAL STATUS 72
FIGURE 20 CCUS ABSORPTION MARKET: LEGAL STATUS OF PATENTS 72
5.7.6 JURISDICTION ANALYSIS 72
FIGURE 21 CHINA JURISDICTION REGISTERED HIGHEST NUMBER OF PATENTS 72
5.7.7 TOP APPLICANTS 73
FIGURE 22 KABUSHIKI KAISHA TOSHIBA REGISTERED HIGHEST NUMBER OF PATENTS 73
5.7.8 PATENTS BY KABUSHIKI KAISHA TOSHIBA 73
5.7.9 PATENTS BY GLOBAL THERMOSTAT OPERATIONS LLC 74
5.7.10 PATENTS BY GENERAL ELECTRIC TECHNOLOGY GMBH 74
5.7.11 TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS 74
5.8 REGULATORY LANDSCAPE 75
5.8.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75
TABLE 8 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 75
TABLE 9 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76
TABLE 10 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 76
TABLE 11 REST OF WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
5.8.2 STANDARDS IN CCUS ABSORPTION MARKET 77
TABLE 12 CURRENT STANDARD CODES FOR CCUS ABSORPTION MARKET 77
5.9 KEY CONFERENCES AND EVENTS 78
TABLE 13 KEY CONFERENCES AND EVENTS, 2024–2025 78
5.10 ECOSYSTEM ANALYSIS: CCUS ABSORPTION MARKET 79
5.10.1 ECOSYSTEM MAP 79
FIGURE 23 KEY PLAYERS IN CCUS ABSORPTION MARKET ECOSYSTEM 80
5.11 PRICING ANALYSIS 80
5.11.1 AVERAGE SELLING PRICE, BY END-USE INDUSTRY (KEY PLAYER) 81
FIGURE 24 AVERAGE SELLING PRICES OF CCUS ABSORPTION OFFERED BY KEY PLAYERS FOR TOP THREE END-USE INDUSTRIES (USD/KG) 81
5.11.2 AVERAGE SELLING PRICE, BY ABSORPTION TYPE 81
FIGURE 25 AVERAGE SELLING PRICE BASED ON ABSORPTION TYPE (USD/KG) 81
5.11.3 AVERAGE SELLING PRICE, BY END-USE INDUSTRY 82
FIGURE 26 AVERAGE SELLING PRICE BASED ON END-USE INDUSTRY (USD/KG) 82
5.11.4 AVERAGE SELLING PRICE, BY REGION 82
TABLE 14 AVERAGE SELLING PRICE OF CCUS ABSORPTION, BY REGION 82
5.12 TRADE ANALYSIS 83
5.12.1 EXPORT SCENARIO FOR HS CODE 281121 83
FIGURE 27 EXPORTS, BY KEY COUNTRIES, 2018–2023 (USD THOUSAND) 83
TABLE 15 TOP 10 EXPORTING COUNTRIES IN 2023 83
5.12.2 IMPORT SCENARIO FOR HS CODE 281121 84
FIGURE 28 IMPORTS, BY KEY COUNTRIES, 2018–2023 (USD THOUSAND) 84
TABLE 16 TOP 10 IMPORTING COUNTRIES IN 2023 84
5.13 TECHNOLOGY ANALYSIS 85
5.13.1 KEY TECHNOLOGIES 85
5.13.2 COMPLEMENTARY TECHNOLOGIES 85
5.14 CASE STUDY ANALYSIS 86
5.15 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 87
FIGURE 29 REVENUE SHIFT OF CCUS ABSORPTION MARKET 87
5.16 CCUS ABSORPTION MARKET INVESTMENT LANDSCAPE 88
FIGURE 30 INVESTOR DEALS AND FUNDING IN CCUS ABSORPTION MARKET SOARED IN 2023 88
6 CCUS ABSORPTION MARKET, BY ABSORPTION TYPE 89
6.1 INTRODUCTION 90
FIGURE 31 CHEMICAL ABSORPTION SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 90
TABLE 17 CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 90
TABLE 18 CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 91
TABLE 19 CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 91
TABLE 20 CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 91
6.2 PHYSICAL ABSORPTION 92
6.2.1 GROWING DEMAND FROM HIGH CO2 CONCENTRATION AND STREAM PRESSURE PLANTS TO DRIVE MARKET 92
TABLE 21 PHYSICAL ABSORPTION: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (USD MILLION) 92
TABLE 22 PHYSICAL ABSORPTION: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (KILOTON) 92
TABLE 23 PHYSICAL ABSORPTION: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (USD MILLION) 93
TABLE 24 PHYSICAL ABSORPTION: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (KILOTON) 93
6.3 CHEMICAL ABSORPTION 94
6.3.1 INCREASING DEMAND IN INDUSTRIES EMITTING LOW PRESSURE CO2 TO DRIVE MARKET 94
TABLE 25 CHEMICAL ABSORPTION: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (USD MILLION) 94
TABLE 26 CHEMICAL ABSORPTION: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (KILOTON) 94
TABLE 27 CHEMICAL ABSORPTION: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (USD MILLION) 95
TABLE 28 CHEMICAL ABSORPTION: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (KILOTON) 95
7 CCUS ABSORPTION MARKET, BY END-USE INDUSTRY 96
7.1 INTRODUCTION 97
FIGURE 32 OIL & GAS END-USE INDUSTRY TO DOMINATE MARKET DURING FORECAST PERIOD 97
TABLE 29 CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (USD MILLION) 98
TABLE 30 CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (KILOTON) 98
TABLE 31 CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (USD MILLION) 98
TABLE 32 CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (KILOTON) 99
7.2 OIL & GAS 99
7.2.1 INCREASING ENERGY GENERATION WORLDWIDE TO DRIVE MARKET 99
TABLE 33 OIL & GAS: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (USD MILLION) 100
TABLE 34 OIL & GAS: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (KILOTON) 100
TABLE 35 OIL & GAS: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (USD MILLION) 100
TABLE 36 OIL & GAS: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (KILOTON) 101
7.3 POWER GENERATION 101
7.3.1 RISING DEMAND FOR ENERGY TO DRIVE MARKET 101
TABLE 37 POWER GENERATION: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (USD MILLION) 101
TABLE 38 POWER GENERATION: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (KILOTON) 102
TABLE 39 POWER GENERATION: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (USD MILLION) 102
TABLE 40 POWER GENERATION: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (KILOTON) 102
7.4 CHEMICAL & PETROCHEMICAL 103
7.4.1 AMMONIA PRODUCTION PLANTS CONTRIBUTE SIGNIFICANTLY TO MARKET GROWTH 103
TABLE 41 CHEMICAL & PETROCHEMICAL: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (USD MILLION) 103
TABLE 42 CHEMICAL & PETROCHEMICAL: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (KILOTON) 103
TABLE 43 CHEMICAL & PETROCHEMICAL: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (USD MILLION) 104
TABLE 44 CHEMICAL & PETROCHEMICAL: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (KILOTON) 104
7.5 CEMENT 105
7.5.1 GOVERNMENT REGULATIONS AND HIGH EMISSIONS TO DRIVE MARKET 105
TABLE 45 CEMENT: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (USD MILLION) 105
TABLE 46 CEMENT: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (KILOTON) 105
TABLE 47 CEMENT: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (USD MILLION) 106
TABLE 48 CEMENT: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (KILOTON) 106
7.6 IRON & STEEL 107
7.6.1 HIGH ANTHROPOGENIC CO2 EMISSIONS TO DRIVE MARKET 107
TABLE 49 IRON & STEEL: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (USD MILLION) 107
TABLE 50 IRON & STEEL: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (KILOTON) 107
TABLE 51 IRON & STEEL: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (USD MILLION) 107
TABLE 52 IRON & STEEL: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (KILOTON) 108
7.7 OTHER END-USE INDUSTRIES 108
TABLE 53 OTHER END-USE INDUSTRIES: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (USD MILLION) 108
TABLE 54 OTHER END-USE INDUSTRIES: CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (KILOTON) 109
TABLE 55 OTHER END-USE INDUSTRIES: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (USD MILLION) 109
TABLE 56 OTHER END-USE INDUSTRIES: CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (KILOTON) 109
8 CCUS ABSORPTION MARKET, BY REGION 110
8.1 INTRODUCTION 111
FIGURE 33 CHINA TO BE FASTEST-GROWING CCUS ABSORPTION MARKET DURING FORECAST PERIOD 111
TABLE 57 CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (USD MILLION) 112
TABLE 58 CCUS ABSORPTION MARKET, BY REGION, 2019–2023 (KILOTON) 112
TABLE 59 CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (USD MILLION) 112
TABLE 60 CCUS ABSORPTION MARKET, BY REGION, 2024–2030 (KILOTON) 113
8.2 NORTH AMERICA 113
8.2.1 IMPACT OF RECESSION 114
FIGURE 34 NORTH AMERICA: CCUS ABSORPTION MARKET SNAPSHOT 114
TABLE 61 NORTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 115
TABLE 62 NORTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 115
TABLE 63 NORTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 115
TABLE 64 NORTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 115
TABLE 65 NORTH AMERICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (USD MILLION) 116
TABLE 66 NORTH AMERICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (KILOTON) 116
TABLE 67 NORTH AMERICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (USD MILLION) 116
TABLE 68 NORTH AMERICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (KILOTON) 117
TABLE 69 NORTH AMERICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 117
TABLE 70 NORTH AMERICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2019–2023 (KILOTON) 117
TABLE 71 NORTH AMERICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 118
TABLE 72 NORTH AMERICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2024–2030 (KILOTON) 118
8.2.1.1 US 118
8.2.1.1.1 Government support for implementation of CCUS absorption to drive market 118
TABLE 73 US: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 119
TABLE 74 US: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 119
TABLE 75 US: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 119
TABLE 76 US: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 120
8.2.1.2 Canada 120
8.2.1.2.1 Increasing investments in CCUS projects to drive market 120
TABLE 77 CANADA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 120
TABLE 78 CANADA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 121
TABLE 79 CANADA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 121
TABLE 80 CANADA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 121
8.2.1.3 Mexico 121
8.2.1.3.1 Need to curb GHG emissions from electricity & heat generation industry to drive market 121
TABLE 81 MEXICO: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 122
TABLE 82 MEXICO: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 122
TABLE 83 MEXICO: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 122
TABLE 84 MEXICO: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 122
8.3 ASIA PACIFIC 123
8.3.1 IMPACT OF RECESSION 123
FIGURE 35 ASIA PACIFIC: CCUS ABSORPTION MARKET SNAPSHOT 124
8.3.2 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE 124
TABLE 85 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 124
TABLE 86 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 125
TABLE 87 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 125
TABLE 88 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 125
8.3.3 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY 126
TABLE 89 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (USD MILLION) 126
TABLE 90 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (KILOTON) 126
TABLE 91 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (USD MILLION) 127
TABLE 92 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (KILOTON) 127
8.3.4 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY COUNTRY 128
TABLE 93 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 128
TABLE 94 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY COUNTRY, 2019–2023 (KILOTON) 128
TABLE 95 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 128
TABLE 96 ASIA PACIFIC: CCUS ABSORPTION MARKET, BY COUNTRY, 2024–2030 (KILOTON) 129
8.3.4.1 China 129
8.3.4.1.1 Collaborations with various countries and organizations to drive market 129
TABLE 97 CHINA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 129
TABLE 98 CHINA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 130
TABLE 99 CHINA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 130
TABLE 100 CHINA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 130
8.3.4.2 Japan 130
8.3.4.2.1 Major technology providers and strong industrial base to support market growth 130
TABLE 101 JAPAN: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 131
TABLE 102 JAPAN: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 131
TABLE 103 JAPAN: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 131
TABLE 104 JAPAN: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 131
8.3.4.3 India 132
8.3.4.3.1 Industrialization and emission regulations to drive market 132
TABLE 105 INDIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 132
TABLE 106 INDIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 132
TABLE 107 INDIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 132
TABLE 108 INDIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 133
8.3.4.4 Australia 133
8.3.4.4.1 Funding initiatives by government to boost market 133
TABLE 109 AUSTRALIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 133
TABLE 110 AUSTRALIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 133
TABLE 111 AUSTRALIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 134
TABLE 112 AUSTRALIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 134
8.3.4.5 Rest of Asia Pacific 134
TABLE 113 REST OF ASIA PACIFIC: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 134
TABLE 114 REST OF ASIA PACIFIC: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 134
TABLE 115 REST OF ASIA PACIFIC: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 135
TABLE 116 REST OF ASIA PACIFIC: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 135
8.4 EUROPE 135
8.4.1 IMPACT OF RECESSION 136
FIGURE 36 EUROPE: CCUS ABSORPTION MARKET SNAPSHOT 137
8.4.2 CCUS ABSORPTION MARKET, BY ABSORPTION TYPE 137
TABLE 117 EUROPE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 137
TABLE 118 EUROPE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 138
TABLE 119 EUROPE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 138
TABLE 120 EUROPE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 138
8.4.3 CCUS ABSORPTION MARKET, BY END-USE INDUSTRY 139
TABLE 121 EUROPE: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (USD MILLION) 139
TABLE 122 EUROPE: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (KILOTON) 139
TABLE 123 EUROPE: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (USD MILLION) 139
TABLE 124 EUROPE: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (KILOTON) 140
8.4.4 CCUS ABSORPTION MARKET, BY COUNTRY 140
TABLE 125 EUROPE: CCUS ABSORPTION MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 140
TABLE 126 EUROPE: CCUS ABSORPTION MARKET, BY COUNTRY, 2019–2023 (KILOTON) 140
TABLE 127 EUROPE: CCUS ABSORPTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 141
TABLE 128 EUROPE: CCUS ABSORPTION MARKET, BY COUNTRY, 2024–2030 (KILOTON) 141
8.4.4.1 Norway 141
8.4.4.1.1 Increased need for electricity generation from natural gas to drive market 141
TABLE 129 NORWAY: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 142
TABLE 130 NORWAY: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 142
TABLE 131 NORWAY: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 142
TABLE 132 NORWAY: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 142
8.4.4.2 UK 143
8.4.4.2.1 Ambitious new strategy aimed at becoming global leader in CCUS to boost market 143
TABLE 133 UK: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 143
TABLE 134 UK: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 143
TABLE 135 UK: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 144
TABLE 136 UK: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 144
8.4.4.3 France 144
8.4.4.3.1 Government initiatives toward reducing carbon emissions to boost market 144
TABLE 137 FRANCE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 144
TABLE 138 FRANCE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 145
TABLE 139 FRANCE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 145
TABLE 140 FRANCE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 145
8.4.4.4 Netherlands 145
8.4.4.4.1 Implementation of projects to boost market 145
TABLE 141 NETHERLANDS: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 146
TABLE 142 NETHERLANDS: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 146
TABLE 143 NETHERLANDS: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 146
TABLE 144 NETHERLANDS: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 146
8.4.4.5 Italy 147
8.4.4.5.1 Demand for CCUS systems to drive market 147
TABLE 145 ITALY: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 147
TABLE 146 ITALY: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 147
TABLE 147 ITALY: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 147
TABLE 148 ITALY: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 147
8.4.4.6 Rest of Europe 148
TABLE 149 REST OF EUROPE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 148
TABLE 150 REST OF EUROPE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 148
TABLE 151 REST OF EUROPE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 148
TABLE 152 REST OF EUROPE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 149
8.5 MIDDLE EAST & AFRICA 149
8.5.1 IMPACT OF RECESSION 149
8.5.2 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE 149
TABLE 153 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 149
TABLE 154 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 150
TABLE 155 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 150
TABLE 156 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 150
8.5.3 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY 151
TABLE 157 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (USD MILLION) 151
TABLE 158 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (KILOTON) 151
TABLE 159 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (USD MILLION) 152
TABLE 160 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (KILOTON) 152
8.5.4 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY COUNTRY 153
TABLE 161 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 153
TABLE 162 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2019–2023 (KILOTON) 153
TABLE 163 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 153
TABLE 164 MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2024–2030 (KILOTON) 154
8.5.4.1 GCC countries 154
TABLE 165 GCC COUNTRIES: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 154
TABLE 166 GCC COUNTRIES: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 155
TABLE 167 GCC COUNTRIES: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 155
TABLE 168 GCC COUNTRIES: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 155
8.5.4.2 UAE 155
8.5.4.2.1 Commitment to meet climate goals to drive market 155
TABLE 169 UAE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 156
TABLE 170 UAE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 156
TABLE 171 UAE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 156
TABLE 172 UAE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 156
8.5.4.3 Saudi Arabia 157
8.5.4.3.1 Government support and increasing investments in renewable energy to boost market 157
TABLE 173 SAUDI ARABIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 157
TABLE 174 SAUDI ARABIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 157
TABLE 175 SAUDI ARABIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 157
TABLE 176 SAUDI ARABIA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 158
8.5.4.4 Rest of GCC countries 158
TABLE 177 REST OF GCC COUNTRIES: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 158
TABLE 178 REST OF GCC COUNTRIES: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 158
TABLE 179 REST OF GCC COUNTRIES: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 159
TABLE 180 REST OF GCC COUNTRIES: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 159
8.5.4.5 Rest of Middle East & Africa 159
TABLE 181 REST OF MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 159
TABLE 182 REST OF MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 160
TABLE 183 REST OF MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 160
TABLE 184 REST OF MIDDLE EAST & AFRICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 160
8.6 SOUTH AMERICA 161
8.6.1 IMPACT OF RECESSION 161
8.6.2 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE 161
TABLE 185 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 161
TABLE 186 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 162
TABLE 187 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 162
TABLE 188 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 162
8.6.3 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY 163
TABLE 189 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (USD MILLION) 163
TABLE 190 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2019–2023 (KILOTON) 163
TABLE 191 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (USD MILLION) 164
TABLE 192 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY END-USE INDUSTRY, 2024–2030 (KILOTON) 164
8.6.4 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY COUNTRY 165
TABLE 193 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2019–2023 (USD MILLION) 165
TABLE 194 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2019–2023 (KILOTON) 165
TABLE 195 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 165
TABLE 196 SOUTH AMERICA: CCUS ABSORPTION MARKET, BY COUNTRY, 2024–2030 (KILOTON) 166
8.6.4.1 Brazil 166
8.6.4.1.1 Demand from industrial plants to drive market 166
TABLE 197 BRAZIL: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 166
TABLE 198 BRAZIL: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 167
TABLE 199 BRAZIL: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 167
TABLE 200 BRAZIL: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 167
8.6.4.2 Argentina 167
8.6.4.2.1 Imposition of carbon tax on liquids and other fluids to drive market 167
TABLE 201 ARGENTINA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 168
TABLE 202 ARGENTINA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 168
TABLE 203 ARGENTINA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 168
TABLE 204 ARGENTINA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 168
8.6.4.3 Chile 169
8.6.4.3.1 Emphasis on forest carbon capture to achieve carbon neutrality to drive market 169
TABLE 205 CHILE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 169
TABLE 206 CHILE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 169
TABLE 207 CHILE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 169
TABLE 208 CHILE: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 170
8.6.4.4 Rest of South America 170
TABLE 209 REST OF SOUTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (USD MILLION) 170
TABLE 210 REST OF SOUTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2019–2023 (KILOTON) 170
TABLE 211 REST OF SOUTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (USD MILLION) 170
TABLE 212 REST OF SOUTH AMERICA: CCUS ABSORPTION MARKET, BY ABSORPTION TYPE, 2024–2030 (KILOTON) 171
9 COMPETITIVE LANDSCAPE 172
9.1 KEY PLAYER STRATEGIES/RIGHT TO WIN 172
TABLE 213 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS 172
9.2 REVENUE ANALYSIS 173
FIGURE 37 CCUS ABSORPTION MARKET: REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS 173
9.3 MARKET SHARE ANALYSIS 174
FIGURE 38 SHARES OF TOP COMPANIES IN CCUS ABSORPTION MARKET 174
TABLE 214 DEGREE OF COMPETITION 175
9.4 BRAND/PRODUCT COMPARATIVE ANALYSIS 176
FIGURE 39 CCUS ABSORPTION MARKET: TOP TRENDING BRANDS/PRODUCTS 176
9.4.1 COMPARATIVE ANALYSIS OF CCUS ABSORPTION TECHNOLOGY BRANDS/PRODUCTS 177
FIGURE 40 COMPARATIVE ANALYSIS OF CCUS ABSORPTION TECHNOLOGY BRANDS/PRODUCTS 177
9.4.1.1 Fluor Econamine FG Plus 177
9.4.1.2 ExxonMobil Corporation: CCUS 178
9.4.1.3 Equinor ASA: CCUS 178
9.4.1.4 Mitsubishi: KM-CDR 178
9.4.1.5 Aker Solutions: CCUS 178
9.5 COMPANY EVALUATION MATRIX 179
9.5.1 STARS 179
9.5.2 PERVASIVE PLAYERS 179
9.5.3 EMERGING LEADERS 179
9.5.4 PARTICIPANTS 179
FIGURE 41 CCUS ABSORPTION MARKET: COMPETITIVE LEADERSHIP MAPPING, 2023 180
9.5.5 COMPANY FOOTPRINT 181
TABLE 215 OVERALL COMPANY FOOTPRINT (15 COMPANIES) 181
TABLE 216 END-USE INDUSTRY: COMPANY FOOTPRINT (15 COMPANIES) 182
TABLE 217 REGION: COMPANY FOOTPRINT (15 COMPANIES) 183
9.6 STARTUP/SME EVALUATION MATRIX 184
9.6.1 PROGRESSIVE COMPANIES 184
9.6.2 RESPONSIVE COMPANIES 184
9.6.3 DYNAMIC COMPANIES 184
9.6.4 STARTING BLOCKS 184
FIGURE 42 CCUS ABSORPTION MARKET: STARTUP/SME EVALUATION MATRIX, 2023 185
9.6.5 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 186
TABLE 218 CCUS ABSORPTION MARKET: KEY STARTUPS/SMES 186
TABLE 219 CCUS ABSORPTION MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 187
9.7 COMPETITIVE SCENARIO AND TRENDS 188
TABLE 220 CCUS ABSORPTION MARKET: DEALS, JANUARY 2019–MAY 2024 188
TABLE 221 CCUS ABSORPTION MARKET: EXPANSIONS, JANUARY 2019–MAY 2024 195
TABLE 222 CCUS ABSORPTION MARKET: OTHER DEVELOPMENTS, JANUARY 2019–MAY 2024 197
9.8 VALUATION AND FINANCIAL METRICS OF CCUS ABSORPTION TECHNOLOGY PROVIDERS 197
FIGURE 43 EV/EBITDA OF KEY VENDORS 197
FIGURE 44 YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND 5-YEAR STOCK BETA OF KEY VENDORS 198
10 COMPANY PROFILES 199
10.1 KEY COMPANIES 199
(Business Overview, Products/Services/Solutions Offered, Recent Developments, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats)*
10.1.1 FLUOR CORPORATION 199
TABLE 223 FLUOR CORPORATION: COMPANY OVERVIEW 199
FIGURE 45 FLUOR CORPORATION: COMPANY SNAPSHOT 200
TABLE 224 FLUOR CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 200
TABLE 225 FLUOR CORPORATION: DEALS, JANUARY 2019–MAY 2024 201
TABLE 226 FLUOR CORPORATION: OTHER DEVELOPMENTS, JANUARY 2019–MAY 2024 202
10.1.2 EXXONMOBIL CORPORATION 204
TABLE 227 EXXONMOBIL CORPORATION: COMPANY OVERVIEW 204
FIGURE 46 EXXONMOBIL CORPORATION: COMPANY SNAPSHOT 205
TABLE 228 EXXONMOBIL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 205
TABLE 229 EXXONMOBIL CORPORATION: DEALS, JANUARY 2019–MAY 2024 206
TABLE 230 EXXONMOBIL CORPORATION: EXPANSIONS, JANUARY 2019–MAY 2024 207
10.1.3 ROYAL DUTCH SHELL PLC 209
TABLE 231 ROYAL DUTCH SHELL PLC: COMPANY OVERVIEW 209
FIGURE 47 ROYAL DUTCH SHELL PLC: COMPANY SNAPSHOT 210
TABLE 232 ROYAL DUTCH SHELL PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 210
TABLE 233 ROYAL DUTCH SHELL PLC: DEALS, JANUARY 2019–MAY 2024 211
TABLE 234 ROYAL DUTCH SHELL PLC: EXPANSIONS, JANUARY 2019–MAY 2024 211
10.1.4 MITSUBISHI HEAVY INDUSTRIES 213
TABLE 235 MITSUBISHI HEAVY INDUSTRIES: COMPANY OVERVIEW 213
TABLE 237 MITSUBISHI HEAVY INDUSTRIES: DEALS, JANUARY 2019–MAY 2024 214
TABLE 238 MITSUBISHI HEAVY INDUSTRIES: EXPANSIONS, JANUARY 2019–MAY 2024 215
10.1.5 JGC HOLDINGS CORPORATION 217
TABLE 241 JGC HOLDINGS CORPORATION: DEALS, JANUARY 2019–MAY 2024 219
10.1.6 SCHLUMBERGER LIMITED 221
TABLE 242 SCHLUMBERGER LIMITED: COMPANY OVERVIEW 221
FIGURE 50 SCHLUMBERGER LIMITED: COMPANY SNAPSHOT 222
TABLE 243 SCHLUMBERGER LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 222
TABLE 244 SCHLUMBERGER LIMITED: DEALS, JANUARY 2019–MAY 2024 223
TABLE 245 SCHLUMBERGER LIMITED: EXPANSIONS, JANUARY 2019–MAY 2024 223
10.1.7 AKER SOLUTIONS 225
TABLE 246 AKER SOLUTIONS: COMPANY OVERVIEW 225
FIGURE 51 AKER SOLUTIONS: COMPANY SNAPSHOT 226
TABLE 247 AKER SOLUTIONS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 226
TABLE 248 AKER SOLUTIONS: DEALS, JANUARY 2019–MAY 2024 227
10.1.8 EQUINOR 230
TABLE 249 EQUINOR: COMPANY OVERVIEW 230
FIGURE 52 EQUINOR: COMPANY SNAPSHOT 230
TABLE 250 EQUINOR: PRODUCTS/SOLUTIONS/SERVICES OFFERED 231
TABLE 251 EQUINOR: DEALS, JANUARY 2019–MAY 2024 231
TABLE 252 EQUINOR: EXPANSIONS, JANUARY 2019–MAY 2024 232
10.1.9 HONEYWELL INTERNATIONAL 234
TABLE 253 HONEYWELL INTERNATIONAL: COMPANY OVERVIEW 234
FIGURE 53 HONEYWELL INTERNATIONAL: COMPANY SNAPSHOT 235
TABLE 254 HONEYWELL INTERNATIONAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 235
TABLE 255 HONEYWELL INTERNATIONAL: DEALS, JANUARY 2019–MAY 2024 236
10.1.10 TOTALENERGIES SE 238
TABLE 256 TOTALENERGIES SE: COMPANY OVERVIEW 238
FIGURE 54 TOTALENERGIES SE: COMPANY SNAPSHOT 238
TABLE 257 TOTALENERGIES SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 239
TABLE 258 TOTALENERGIES SE: DEALS, JANUARY 2019–MAY 2024 239
10.1.11 BASF 242
TABLE 259 BASF: COMPANY OVERVIEW 242
FIGURE 55 BASF: COMPANY SNAPSHOT 243
TABLE 260 BASF: PRODUCTS/SOLUTIONS/SERVICES OFFERED 243
TABLE 261 BASF: DEALS, JANUARY 2019–MAY 2024 244
10.1.12 HITACHI 245
TABLE 262 HITACHI: COMPANY OVERVIEW 245
FIGURE 56 HITACHI: COMPANY SNAPSHOT 246
TABLE 263 HITACHI: PRODUCTS/SOLUTIONS/SERVICES OFFERED 246
10.1.13 SIEMENS 248
TABLE 264 SIEMENS: COMPANY OVERVIEW 248
FIGURE 57 SIEMENS: COMPANY SNAPSHOT 249
TABLE 265 SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 249
10.1.14 GENERAL ELECTRIC 251
TABLE 266 GENERAL ELECTRIC: COMPANY OVERVIEW 251
FIGURE 58 GENERAL ELECTRIC: COMPANY SNAPSHOT 252
TABLE 267 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 252
10.1.15 CHEVRON CORPORATION 254
TABLE 268 CHEVRON CORPORATION: COMPANY OVERVIEW 254
FIGURE 59 CHEVRON CORPORATION: COMPANY SNAPSHOT 254
TABLE 269 CHEVRON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 255
*Business Overview, Products/Services/Solutions Offered, Recent Developments, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats might not be captured in case of unlisted companies.
10.2 OTHER PLAYERS 256
10.2.1 CARBON CLEAN SOLUTIONS 256
TABLE 270 CARBON CLEAN SOLUTIONS: COMPANY OVERVIEW 256
10.2.2 OCCIDENTAL 256
TABLE 271 OCCIDENTAL: COMPANY OVERVIEW 256
10.2.3 BABCOCK & WILCOX 257
TABLE 272 BABCOCK & WILCOX: COMPANY OVERVIEW 257
10.2.4 BRITISH PETROLEUM 257
TABLE 273 BRITISH PETROLEUM: COMPANY OVERVIEW 257
10.2.5 GREEN POWER INTERNATIONAL 258
TABLE 274 GREEN POWER INTERNATIONAL: COMPANY OVERVIEW 258
10.2.6 WOLF MIDSTREAM 258
TABLE 275 WOLF MIDSTREAM: COMPANY OVERVIEW 258
10.2.7 SONATRACH 259
TABLE 276 SONATRACH: COMPANY OVERVIEW 259
11 APPENDIX 260
11.1 DISCUSSION GUIDE 260
11.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 262
11.3 CUSTOMIZATION OPTIONS 264
11.4 RELATED REPORTS 264
11.5 AUTHOR DETAILS 265
