Carbon Capture and Storage Market Share, Industry Size , Growth Strategies Adopted By Major Players | Worldwide Leading International Manufacturers & Regional Outlook from 2018 To 2023

Global Carbon Capture and Storage (CCS) Market by Technology, Applications (EOR, agriculture, industrial) End-Use (iron steel, oil & gas, chemical) and Region– Forecast till 2023

Carbon Capture and Storage Global Market – Overview

The main drivers of this carbon capture and storage market are clean technologies, reduction of consumption of coal in emerging countries, technological advancements in manufacturing unit to reduced emission rates, renewable energy production and extensive implementation of CCS technology.

The (CCS) market is projected to rise at a CAGR of more than ~8.0% during the forecast period. The main reason behind the growth is the serious concern about the rising CO2 emission and the growing energy demands, among the government and societies, which ultimately drives the carbon capture and storage market.

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Global Market Carbon Capture and Storage – Competitive Dashboard

• Fluor Corporation
• Cansolv Technologies Inc
• Dakota Gasification Company
• Aker Solutions
• Japan CCS
• NRG Energy
• The Linde Group
• Chevron Corporation
• Shell

Industry Segmentations:-

The CCS market is further segmented on the basis of technology as pre combustion, post combustion and oxy fuel combustion, on the basis of applications as EOR, agriculture, and industrial, on the basis of end-use as iron steel, oil and gas, chemical and others and on the basis of regions as North America, Europe, Asia Pacific, and Rest of the World.

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Global Carbon Capture and Storage Market Regional Analysis:-

On the basis of application, EOR application is the best application because it is an excellent storage reservoir. Syndicate research and development is being done in this sector to capture and manage CO2 emissions, which ultimately reduces the climate risks.

On the basis of region, North America has the highest number of CCS projects. U.S. has 16 of the 22 operational or under construction projects and has the largest capture capacity, across the world. Once in operation, the capacity of these projects will be around ~40 million tons of carbon dioxide. For instance, Kemper County coal CCS plant in Mississippi would be a new power plant with pre combustion carbon capture. It will capture ~65% of emission (~3.5 million tons per year).

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