Global Market Insights recently added a detailed Carbon Capture and Storage Market research study across the global, regional and country level. The report provides 360° analysis from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global market and estimates the future trend of the industry based on this detailed study.
Carbon Capture and Storage Market is expected to surpass USD 6 billion by 2024. Growing demand for cost efficient technique to curb carbon dioxide emission from large energy intensive industries including power plant and iron & steel will stimulate industry growth. Ability to curb carbon emission by 85% to 90% will boost technology penetration among other alternates.
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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.
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.
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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.
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.
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Ongoing investment towards the construction of gas and coal fired power plant to meet growing electricity demand along with rising concern to reduce environment pollution will propel the China carbon capture and storage market size. In 2017, Green Gen program introduced the IGCC demonstration project in Tianjin, China to capture 2MTPA of carbon dioxide.
Key players in carbon capture and storage market include Sulzer, Aker Solution, Mitsubishi Heavy Industries, Shell CANSOLV, General Electric, Dakota Gasification, Schlumberger, Linde Engineering, Exxon Mobil, Fluor, Japan CCS Company, Schlumberger, Haliburton and NRG energy.
Partial Table of Contents (ToC) of the report:
Chapter 4. Carbon Capture and Storage Market, By Technology
4.1. Global market share by technology, 2016 & 2024
4.2.1. Pre-combustion market, 2013 – 2024
4.2.2. Pre-combustion market volume by region, 2013 – 2024
4.2.3. Pre-combustion market revenue by region, 2013 – 2024
4.3.1. Post-combustion market, 2013 – 2024
4.3.2. Post-combustion market volume by region, 2013 – 2024
4.3.3. Post-combustion market revenue by region, 2013 – 2024
4.4. Oxyfuel combustion
4.4.1. Oxyfuel combustion mounted market, 2013 – 2024
4.4.2. Oxyfuel combustion market volume by region, 2013 – 2024
4.4.3. Oxyfuel combustion market revenue by region, 2013 – 2024
Chapter 5. Carbon Capture and Storage Market, By Application
5.1. Global market share by technology, 2016 & 2024
5.2. Oil and Gas
5.2.1. Oil and gas market, 2013 – 2024
5.2.2. Oil and gas market volume by region, 2013 – 2024
5.2.3. Oil and gas market revenue by region, 2013 – 2024
5.3. Iron and Steel
5.3.1. Iron and steel market, 2013 – 2024
5.3.2. Iron and steel market volume by region, 2013 – 2024
5.3.3. Iron and steel market revenue by region, 2013 – 2024
5.4. Chemical Processing
5.4.1. Chemical processing mounted market, 2013 – 2024
5.4.2. Chemical processing market volume by region, 2013 – 2024
5.4.3. Chemical processing market revenue by region, 2013 – 2024
5.5. Power Generation
5.5.1. Power generation market, 2013 – 2024
5.5.2. Power generation market volume by region, 2013 – 2024
5.5.3. Power generation market revenue by region, 2013 – 2024
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