What's Driving the Carbon Capture and Storage Market Growth? Key Players are Exxon Mobil, General Electric, Halliburton, Aker Solutions, Schlumberger Limited, Linde, Siemens, NRG Energy

A recent report Added by DEC Research on Carbon Capture and Storage Market offers a succinct analysis of the industry size, regional landscape and the revenue forecast pertaining to this vertical. The report further highlights the primary challenges and latest growth strategies embraced by key players that constitute the dynamic competitive spectrum of this business domain.

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Introduction of several government initiatives including American Recovery and Reinvestment Act for providing tax credit to promote the development of low carbon technologies will propel the U.S. carbon capture and storage market size. In 2008, the U.S. introduced section 45Q under Energy Improvement and Extension Act to provide USD 10 per metric ton credit for storing CO2 through EOR and USD 20 per metric ton credit for storing CO2 in deep water saline formation. Strict government regulation to curb GHG emission will further stimulate the industry outlook. In the U.S., according to section 111 of clean air act the coal fired plant cannot emit more than 1400 lbs. CO2/MWh.

Leading Key Players in Carbon Capture and Storage Market are Exxon Mobil, General Electric, Halliburton, Aker Solutions, Schlumberger Limited, Linde, Siemens, NRG Energy, Inc, Fluor Corporation, Shell Cansolv, Dakota Gasification Company, Sulzer, Japan CCS Co., Ltd, Mitsubishi Heavy Industries, Ltd

Increasing demand for carbon dioxide EOR technique to boost oil production from aging field will embellish the carbon capture and storage market share. Dependency on import of crude oil, availability of non-recovered oil and depleted hydrocarbon fields are some of the features influencing the demand for enhanced oil recovery.

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Growth Drivers:
o Burgeoning demand for CO2 EOR techniques
o Stringent government regulations toward GHG emission
o Increasing investment toward government funded projects
Increasing demand for cost effective technologies to achieve the decarbonization targets to curb carbon emission will stimulate UK carbon capture and storage market size. In 2016, government of UK set target to reduced carbon emissions up to 57% by 2020 from 1990 levels. Ongoing investment towards CCS projects will further augment the industry.

Increasing implementation of integrated gasification combined cycle power plant will boost the Pre- combustion carbon capture and storage market share. Technology ability to convert solid fuel into synthesis gas through the application of heat under high pressure in presence of steam and oxygen will make its adoption preferable over the other alternates.
Oil and gas application is predicted to witness growth owing to increasing crude oil demand from refinery to suffice petroleum product demand along with growing investment towards expansion and upgradation of refinery facilities. Iron and steel applications was valued over USD 53 million in 2016. Positive outlook towards automobile and infrastructure sector owing to rapid urbanization and industrialization will fuel the carbon capture and storage market growth.

Table Of Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definitions and forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Carbon capture and storage industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Technology trends
2.1.3. Application trends
2.1.4. Regional trends

Read More About Carbon Capture and Storage Market At https://www.globenewswire.com/news-release/2017/08/28/1100910/0/en/Carbon-Capture-and-Storage-Market-worth-over-6-billion-by-2024-Global-Market-Insights-Inc.html

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