What’s driving the Carbon Capture and Storage Market Trends? Exxon Mobil, General Electric, Halliburton, Aker Solutions, Schlumberger Limited, Linde
The globally prevalent trend to reduce carbon emissions is a vitally imperative fact that has been driving carbon capture and storage market. Perpetually impelled by the urgent requirement to brainstorm newer methodologies to uphold energy efficiency, numerous governmental bodies across the globe have been attempting to exploit the CCS technology, which can certainly be deemed one of the major factors fueling carbon capture and storage industry share.
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Growth Drivers Are:
• Burgeoning demand for CO2 EOR techniques
• Stringent government regulations toward GHG emission
• Increasing investment toward government funded projects
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
A crucial precedent validating the legitimacy of the aforementioned declaration is Scottish energy minister’s announcement regarding the requirement of CCS as a critical tool to accomplish reduced energy consumption across the United Kingdom.
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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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 5 Carbon Capture and Storage Market, By Application
5.1 Carbon capture and storage market share by application, 2019 & 2026
5.2 Oil and gas
5.2.1 Global market from oil and gas, 2015 – 2026
5.2.2 Global market from oil and gas, by region, 2015 – 2026
5.3 Chemical processing
5.3.1 Global market from chemical processing, 2015 – 2026
5.3.2 Global market from chemical processing, by region, 2015 – 2026
5.4 Power generation
5.4.1 Global market from power generation, 2015 – 2026
5.4.2 Global market from power generation, by region, 2015 – 2026
5.5.1 Global market from others, 2015 – 2026
5.5.2 Global market from others, by region, 2015 – 2026
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Air Source Heat Pump Market
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