The report on ‘Carbon Capture and Storage Market’ offers a holistic analysis of key facets such as primary growth catalysts, opportunities, constraints, and limitations during 2020-2026.
Selbyville, Delaware, Oct. 20, 2020 (GLOBE NEWSWIRE) -- According to expert study, global carbon capture and storage (CCS) market size is anticipated to record strong CAGR over the forthcoming years to reach a valuation of USD 10.45 billion by the year 2026. Factors such as increasing research & development activities aimed at mitigating energy loss during carbon capture processes, rapid advancement in IGCC (integrated gasification combined cycle) technology, and development of gas turbines with enhanced efficiency, larger size, and high firing temperature are bolstering the growth of global carbon capture and storage market.
The emergence of COVID-19 pandemic has plummeted the global economy, arresting the industry expansion and profit generation by disrupting the supply chain. The all-inclusive market investigation aims to answer all the client interrogations and suggests tactics to adapt during uncertain times. Additionally, the document provides a comprehensive investigation of major market players, inclusive of their product offerings, manufacturing capabilities, chief applications, and profit stake.
For the uninitiated, carbon capture and storage is a technology that facilitates the isolation of carbon dioxide from manufacturing & process waste streams as well as fossil fuels. The complete process includes compression of isolated carbon dioxide followed by its transportation and storage in deep underground geological formations.
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Escalating investments towards CO2 capture at pilot scales in industrial applications coupled with increasing efforts towards reducing cost of electricity for CSS technology equipped power plants are stimulating the global carbon capture and storage market outlook.
Furthermore, rising adoption of highly efficient power generation cycles along with technological advancements in the field are fueling the industry expansion. However, stringent government regulations, underdeveloped CO2 infrastructure, availability of alternative solutions, patent expiry of major blockbuster agents, and high costs associated with CSS technologies are expected to impede global carbon capture and storage industry forecasts.
Capture type outlook
As per credible estimates post combustion segment of worldwide carbon capture and storage market is poised to grow substantially over 2020-2026, on account of increasing power generation. Emergence of advanced heat integration systems and amine systems will further impel the segmental share.
Application model outlook
Global carbon capture and storage industry share from EOR (enhanced hydrocarbon recovery process) is projected to record strong CAGR over the analysis timeframe. The segmental growth is creditable to fluctuating crude oil prices, in consort with focus towards extracting hydrocarbons from unconventional reserves.
North America held a significant share of global carbon capture and storage market in the recent past and is projected to expand considerably over 2020-2026. Surging need for carbon dioxide in EOR methods, increasing installation of CSS projects in the U.S., and favorable government initiatives towards promoting the deployment of emission control technologies as well as reducing overall carbon footprint are fostering the expansion of North America market.
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Alternatively, Asia-Pacific carbon capture and storage market is projected to register the highest CAGR during 2020-2026, owing to rapid economic growth in India and China, rising carbon emissions, rapid industrialization, and increasing focus towards environmental protection in Malaysia, Indonesia, and Japan.
Global Carbon Capture and Storage Market Capture Type Sub-segments (Revenue, USD Million, 2015-2026)
Global Carbon Capture and Storage Market Application Sub-segments (Revenue, USD Million, 2015-2026)
EOR (Enhanced Hydrocarbon Recovery Process)
Global Carbon Capture and Storage Market Regional Analysis (Revenue, USD Million, 2015-2026)
Middle East & Africa
Rest of MEA
Rest of LATAM
Rest of Asia-Pacific
Rest of Europe
Global Carbon Capture and Storage Market Competitive Analysis (Revenue, USD Million, 2015-2026)
HTC CO2 Systems Corp.
Japan CCS Co. Ltd
Mærsk Olie og Gas A/S (Maersk Oil)
Mitsubishi Heavy Industries Ltd.
Linde Engineering India Pvt. Ltd
Dakota Gasification Company
Aker Solutions ASA
Table of Contents
Chapter 1. Introduction
1.1. Report Description
1.1.1. Objectives of the Study
1.1.2. Market Scope
Chapter 2. Executive Summary
2.1. Market Highlights
Chapter 3. Research Methodology
3.2. Integrated Ecosystem
3.2.1. Data Mining
3.3. Data Sources
3.3.1. Primary Sources
3.3.2. Secondary Sources
Chapter 4. Market Analysis
4.1.1. Market by Geography
4.2. Market Size Growth Prospects
4.3. Technology Landscape
4.4. Regulatory Framework
4.5. CCS Cost Analysis
4.6. Carbon capture and storage Market Dynamics
4.7. Porter's Five Forces Analysis
Chapter 5. Carbon capture and storage Market Assessment by Capture Type
5.1. KEY FINDINGS
5.3. Market by Type
5.3.1. Global Carbon capture and storage Market, By Type, 2020 - 2026 (USD Million)
5.4.1. Global Pre-combustion Market, by Region, 2015-2026 (USD Million)
5.4.2. North America: Pre-combustion Market, by Country, 2015-2026 (USD Million)
5.4.3. Europe: Pre-combustion Market, by Country, 2015-2026 (USD Million)
5.4.4. Asia-Pacific: Pre-combustion Market, by Country, 2015-2026 (USD Million)
5.4.5. LATAM: Pre-combustion Market, by Country, 2015-2026 (USD Million)
5.4.6. MEA: Pre-combustion Market, by Country, 2015-2026 (USD Million)
5.5. Industrial separation
Chapter 6. Carbon capture and storage Market Assessment by Application
6.1. KEY FINDINGS
6.3. Market by Application
6.4. Enhanced Oil Recovery
Chapter 7. Carbon capture and storage Market Assessment by Geography
Carbon Capture and Storage Market Size, Regional Outlook, Competitive Market Share & Forecast, 2020 - 2026
Global Carbon capture and storage market is anticipated to encounter lucrative growth owing to the rising expansion opportunities across various sectors like oil & gas, power generation, and chemical processing among others. Carbon capture and storage is a technology which is capable of capturing as well as storing carbon dioxide, preventing it from being realized into the atmosphere. It can capture nearly 90% of the carbon dioxide emissions that are produced from use of fossil fuels in the industrial processes like cement production and in electricity generation. Carbon capture and storage with renewable biomass is among the few carbon abatement technologies, which is used in a mode that is carbon negative, actually extracting carbon dioxide from the atmosphere.
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