Carbon Capture and Storage Market Is Expected To Grow At a CAGR OF 10.9% FROM 2017-2023.

SHARE

According to Stratistics MRC, the Global Carbon Capture and Storage market is expected to grow from $2.25 billion in 2016 to reach $4.20 billion by 2022 with a CAGR of 10.9%. Rising demand for Co2-EOR new techniques and increasing number of environmental issues are propelling the market growth. However, huge initial cost required in implementing carbon capture technologies and strict regulations are some of the factors hindering the market growth.

Request for sample here: “Global Carbon Capture and Storage market

Carbon capture and storage is the process of capturing waste carbon dioxide (CO2) from sources like cement factories or biomass power plant, transporting it to a storage site, and burying it in an underground geological formation so that it will not go into the atmosphere,. The aim is to prevent the release of large quantities of CO2 into the atmosphere from heavy industry. Carbon capture and storage is also known as carbon capture and sequestration or carbon control and sequestration.

Opportunity: Stringent regulatory norms to decrease the carbon dioxide emission would provide ample opportunities for the market growth.

Stringent regulatory measures to decrease the carbon dioxide emission have been adopted by various governments throughout the world. Such regulatory standards will create major market opportunities for the carbon capture and storage projects.

Driver: Increasing rate of industrialization across the countries.

The nations worldwide, especially the developing ones are going through a phase of rapid industrialization. This, coupled with the rising investment toward development of manufacturing plants has raised the deployment of carbon capture and storage projects worldwide.

By technology, the pre-combustion capture segment is expected to grow at a significant market share during the forecast period as this technology has a high demand across the end use industries like food processing and chemical. The technology features high capture rate along with minimal waste streams. Cost-effectiveness and smaller equipment size makes it suitable for industrial and utility applications.

Request for customization here: “Global Carbon Capture and Storage market

By geography, the Europe region is anticipated to hold considerable market share during the forecast period. Climate change obligations, emission standards and taxation policies on carbon emissions are the driving factors for the regional market.

The Global Carbon Capture and Storage Market Leaders are Siemens AG, Mitsubishi Heavy Industries Ltd, Hitachi Ltd, Aker Solutions, Fluor Corporation, Honeywell International Inc, Linde AG, Exxonmobil Corporation, General Electric, Halliburton, Schlumberger Limited, Shell Global, Statoil, Dakota Gasification Company, and Japan CCS Co., Ltd.

Hitachi Ltd: In November 2013, Hitachi Ltd started the construction of the Carbon Capture Test Facility (CCTF) designed to capture CO2 emissions from coal-fired power plants according to the agreement with its partner, Saskatchewan Power Corporation.

For more information fill in the Inquiry form at: “Global Carbon Capture and Storage market

Schlumberger Limited: In November 2009, Schlumberger Limited and Alstom signed an agreement to work together for developing carbon capture and storage readiness studies for power plants. The studies consist of an evaluation of potential CO2 storage sites for the power plant, as well as an assessment of necessary investments for future CO2 transport and storage.

About Stratistics MRC:

StratisticsMRC Pvt Ltd. is a market research firm serving the fortune 500 companies across the world with market intelligence. We offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services and Full-Time Equivalent (FTE) services in the research world. We explore market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends. Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.

We have a core research team with research analysts across the industry verticals to serve our varied customers such as technology suppliers, manufacturers, distributors, end-users, consulting companies, investment firms and research institutes. We ensure that our research reports, white papers, policy briefs provide result-oriented findings and recommendations. Our research reports help you to make better decisions in building the organization present in a global scenario. Our consultancy services offer you with the highly qualified professional research team to match your research needs. We are in the process of addressing the challenges of our clients and able to deliver the quality outputs to meet their business objectives and goals in a potential way. We invest more in building our teams and enhance our client relationships across the geographies where we work.

Contact:
James Lamb
United States Direct:+1-301-202-5929
Email: [email protected]
Corporate Sales Specialist