Shell Catalysts & Technologies/Technip Energies, Mitsubishi Heavy Industries, and Honeywell Universal Oil Products Named Leading Carbon Capture Solutions Providers
As decarbonization efforts gain momentum, point-source CO2 capture technology is attracting more attention
A new report from Guidehouse Insights examines advanced carbon capture solutions providers in commercial-scale point-source capture applications.
As efforts to decarbonize become widespread, point-source carbon dioxide (CO2) capture technology is growing in popularity, especially for hard-to-decarbonize sectors such as industry and power generation. As a result, carbon capture, utilization, and storage (CCUS) is a growing industry, both in project development and in policy support mechanisms. According to Guidehouse Insights, Shell Catalysts & Technologies/Technip Energies, Mitsubishi Heavy Industries and Honeywell Universal Oil Products are the leading carbon capture solutions providers.
“Today’s CCUS industry is more global, unbundled, and horizontally integrated, with numerous projects, including industrial hub or cluster-based approaches with multiple emitters, and those with CO2 largely destined for storage rather than utilization applications,” says Serkan Birgel, research analyst with Guidehouse Insights. “However, market deployment progress has been slow, as has progress toward reaching net-zero CO2 emissions by 2050.”
In more mature markets such as Europe and North America, current barriers have rendered progress in reaching final investment decisions slower than expected. Still, growth of the CCUS industry is accelerating, and the competitive space is subject to change as vendor projects and technologies mature, merger and acquisition activity grows, and policies and legislation change, according to the report.
The report, Guidehouse Insights Leaderboard: Advanced Point-Source Carbon Capture Solutions Providers, assesses advanced carbon capture solutions providers in commercial-scale point-source capture applications, where CO2 is captured at the point of emissions as a part of a contemporary commercial CCUS project. It identifies and ranks eight successful carbon capture solution providers with projects in commercial operation or advanced commercial development that cumulatively capture at least 1.5 million metric tons of CO2 per year. An executive summary of the report is available for free download on the Guidehouse Insights website.
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* The information contained in this press release concerning the report, Guidehouse Insights Leaderboard: Advanced Point-Source Carbon Capture Solutions Providers, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.