Future IoT (2024-09-11)
Carbon Capture, Utilisation, and Storage (CCUS) technologies are essential for reducing carbon dioxide (CO2) emissions from major industrial sources. According to ABI Research, the CCUS market is projected to grow from $4.89 billion in 2024 to $8.04 billion by 2030, with a compound annual growth rate (CAGR) of 8.7%. While growth may slow until around 2026-2027, an increase in new projects will drive future expansion.
CCUS is crucial for meeting net-zero targets, particularly for industries with hard-to-abate emissions. Factors propelling the market include growing environmental concerns, regulatory support for sustainable practices, and pressure from consumers to lower emissions, as noted by research analyst Alex McQueen.
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