Carbon
Capture and Storage Industry Report - Overview
Shares
of carbon capture and storage market is on the pace for its best in the next
five years as the power & energy industry is booming at a rapid pace. On
this, Market Research Future published a report that says the global Carbon
Capture and Storage Market is going to achieve 8.0% CAGR during the
forecast period along with higher valuation as well.
At
the same time, another significant reason behind the growth of the market is
the severe rising concern for CO2 emission, the latent energy demands among the
government and societies, thus eventually drives the carbon capture and storage
market in inevitably. With this, the carbon capture and storage market is also
on the verge of gaining high prominence due to the factors such as reduction of
consumption of coal in emerging countries, renewable energy production, clean
technologies, technological advancements in manufacturing unit to reduce emission
rates, and extensive implementation of CCS technology. These factors are thus
streaming to help the market to gain a strong position on the growth graph for
the forecast period.
Carbon
Capture and Storage Industry Segmentation:
As
per the study, the carbon capture and storage industry report have been studied
under segments of technology, applications, and end-user.
The
market, by technology, has included pre-combustion, post-combustion and
oxy-fuel combustion
The
market, by EOR segments, includes agriculture and industrial.
The
market, by end-use segment, includes oil and gas, chemical, iron steel and
others.
Carbon
Capture and Storage Industry Report – Regional Analysis
The
market of carbon capture and storage industry on the basis of regional study
has covered the regions of North America, Europe, Asia Pacific, and Rest of the
World.
The
study focuses on the North America region, at first, that possesses the highest
number of CCS projects. It is the U.S. that has 16 of the 22 operational or
under construction projects and has the most significant capture capacity
around the world. Once under operation, the ability of these projects is found
to be around 40 million tons of carbon dioxide. In a case of point, Kemper
County coal CCS plant in Mississippi would be a new power plant with
pre-combustion carbon capture, while it will capture 65% of emission.
While
the Middle East and Africa could also emerge as a significant player in the
global carbon capture and storage market over the assessment period. The growth
in this region directs to the occurrence of large carbon capture projects that
are going on in Saudi Arabia and Algeria.
And
in the last, Europe also occupies a considerable share in the global carbon
capture and storage market owing to the wide-ranging oil and gas operations
going in the North Sea. Such activities might have a massive possibility of
carbon storage in oil wells in the region.
Prominent
Players
The
foremost key player in global CCS market are listed as Cansolv Technologies Inc
(Canada), Dakota Gasification Company (U.S.), Fluor Corporation (U.S.), Japan
CCS (Japan), Aker Solutions (U.S.), The Linde Group (Germany), NRG Energy
(U.S.), Climeworks AG (Switzerland), Chevron Corporation (U.S.), and Shell
(U.S.). They are known for being highly capable of offering the most
exceptional service in the market.
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