Carbon Capture and Storage Market (CCS) – Global Industry Analysis and Forecast (2018-2026)
Carbon Capture and Storage Market (CCS) was valued US $4.32 Bn in 2017 and is estimated to reach US $8.43 Bn by 2026 at a CAGR of about 13.05% during a forecast.
Carbon Capture and Storage Market (CCS) is a crucial resolution in the contest against the global changes in the climatic conditions. The rise in energy demand globally have led to the increase in uses of fossil fuels, the major source of carbon emission. CCS is the most feasible technology currently available to reduce greenhouse gas emissions from large scale fossil fuel usage. The high cost of the technology is a major restrain for growth of the market. However, the technology providers have been working on research and development to rise the economies of scale of the CCS projects. Some of the factors such as inconsistent government regulations and economic slowdown in the past few years especially in Europe and China are the major factors responsible for the slow growth of the market.
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Carbon Capture and Storage Market (CCS) is segmented into technology, Application, and region. Based on Technology, Pre-combustion capture technologies for carbon dioxide established the largest share accounting for over 74% in 2017 and are anticipated to witness considerable growth over the forecast period. Advantage of using this capture technology under pressure is that it incurs less of an energy cost. Pre-combustion capture technology is anticipated to dominate the capture type sector in the next few years. The post-combustion capture technology is expected to grow at the highest CAGR of 16.1% from 2018 to 2026. Increased energy generation, newly developed advanced amine systems and heat integration systems are anticipated to be the major factors driving its demand over the forecast period.
On the basis of application, Enhanced Oil recovery (EOR) segment hold the largest share of the market in 2017. Volatile crude oil prices are anticipated to drive market penetration in EOR applications in the next few year. The increase in need to extract oil & gas from low permeability and unconventional reserves including carbonate traps and tight sands is anticipated to positively influence the global EOR process demand.
In terms of region, North America is estimated to dominate the global demand accounting for over 60% of the total market. In North America, U.S. accounts for the largest share of the market. Asia-Pacific is anticipated to witness the fastest CAGR over the forecast period owing to the presence of coal-fired power plants in this region.
Key Players Profiled and Analysed in the Report
Siemens AG, Mitsubishi Heavy Industries Ltd, Hitachi Ltd, Aker Solutions, Fluor Corporation, Halliburton, Honeywell International Inc, Linde AG, Exxonmobil Corporation, General Electric, Schlumberger Limited, Shell Global, Statoil, Dakota Gasification Company, and Japan CCS Co., Ltd.
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Market Scope of Carbon Capture and Storage Market (CCS)
Carbon Capture and Storage Market (CCS) by Technology
• Pre-Combustion
• Industrial
• Oxy-Firing
• Post-Combustion
Carbon Capture and Storage Market (CCS) Application
• Enhanced Oil recovery (EOR)
• Industrial
• Agriculture
Carbon Capture and Storage Market (CCS) Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key players operating in the Carbon Capture and Storage Market (CCS)
• Siemens AG
• Mitsubishi Heavy Industries Ltd
• Hitachi Ltd
• Aker Solutions
• Fluor Corporation
• Halliburton
• Honeywell International Inc.
• Linde AG
MAJOR TOC OF THE REPORT
Chapter One: Carbon Capture Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Carbon Capture Market Competition, by Players
Chapter Four: Global Carbon Capture Market Size by Regions
Chapter Five: North America Carbon Capture Revenue by Countries
Chapter Six: Europe Carbon Capture Revenue by Countries
Chapter Seven: Asia-Pacific Carbon Capture Revenue by Countries
Chapter Eight: South America Carbon Capture Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Carbon Capture by Countries
Chapter Ten: Global Carbon Capture Market Segment by Type
Chapter Eleven: Global Carbon Capture Market Segment by Application
Chapter Twelve: Global Carbon Capture Market Size Forecast (2019-2026)
Browse Full Report with Facts and Figures of Carbon Capture Market Report at: https://www.maximizemarketresearch.com/market-report/carbon-capture-and-storage-ccs-market/14210/
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