What’s driving the Carbon Capture and Sequestration (CCS) Market Growth? | Leading Key Players are Vattenfall AB, GDF SUEZ, Mbd Energy, Carbon Cycle, E3tec Service, Skyonic, Novomer Inc., BASF, Oakbio Inc

The latest report on 'Carbon Capture and Sequestration (CCS) Market ' Added by Global Market Insights, LLC, provides a concise analysis of the industry size, revenue forecast and regional spectrum of this business. The report further illustrates the major challenges and the latest growth strategies adopted by key players who are a part of the dynamic competitive spectrum of this industry.

U.S. carbon capture and sequestration market size was the largest and is expected to witness gains due to increase in government regulations and growing environmental concerns. Europe is expected to witness significant growth over the forecast period. Energy portfolio strategies and the emission standards adopted by European Union nations are likely to be among the major factors to attract investment. Countries such as the Netherlands, Norway, and UK are expected to plan extensive investments in carbon capture technology. The stored carbon dioxide (CO2) can be efficiently used for better recovery techniques in UK Continental Shelf and North Sea fields.

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Carbon capture and sequestration (CSS) market size was valued at over USD 2.2 billion in 2015 and is estimated to be worth more than USD 15 billion by 2023, with estimate gains of 25% from 2016 to 2023.

Asia Pacific carbon capture and sequestration market share is expected to benefit due to manufacturing industries’ growth in China, Japan, and India. Rapid Industrialization coupled with increase in pollution is expected to drive the CCS market. Initial investment cost and lack of awareness is likely to restrain growth in Middle East & Africa.

Fossil fuels are a major source of greenhouse gas (GHG) and CO2 emissions globally. Practice of coal-burning power stations is responsible for a large volume of electricity generated CO2 emissions. Other sources include industrial sites and thermal power plants, such as natural gas fired. These emissions are increasing gradually and increasing concerns towards permanent air quality change, climate change, and ocean acidification. A control in GHG emissions is made essential at regional, national, and international policy levels. Carbon capture & storage (CCS) has been concluded as a technology to help in these climate change alleviation strategies.

Carbon capture and sequestration (CCS) technology is designed to capture up to 85% of the CO2 emissions obtained from fossil fuels via electricity generation and industrial processes, averting the CO2 from atmospheric accumulation. CCS is segmented into parts; capturing, transporting, and storing the CO2 emissions, in deep saline aquifer formations and underground in exhausted oil & gas fields.

Capture technologies separates CO2 from gases produced in industrial processes and electricity generation mainly by three routes, pre-combustion, post-combustion and oxy-fuel combustion. Millions of tons of CO2 are transported for commercial uses every year. The U.S. is the dominant region in CO2 via pipeline for oil recovery use.

Transportation includes transference by ship, pipelines and road tanker for commercial purpose mainly for oil recovery projects. The CO2 is stored in cautiously targeted geological rocks that are located several kilometers below the earth surface.

Growth in exploration activities, research, and investment is likely to drive demand. The carbon capture & sequestration market is likely to witness significant growth in the coming years due to increasing investment in emission reduction technologies.

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Carbon capture and sequestration (CCS) market share is comprised of The Linde Group, Royal Dutch Shell, Vattenfall AB, GDF SUEZ, Mbd Energy, Carbon Cycle, E3tec Service, Skyonic, Novomer Inc., BASF, Oakbio Inc., Lanzatech Inc, and Enn Group.

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