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CAGR 6.1% | Carbon Capture and Storage market is valued at 3300 million USD in 2018 and is expected to reach $4450 million 2024
Global Carbon Capture and Storage Market | Planet Market Reports
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Carbon capture and storage CCS or carbon capture and sequestration or carbon control and sequestration is the process of capturing waste carbon dioxide CO2 from large point sources, such as fossil fuel power plants, transporting it to a storage site, and depositing it where it will not enter the atmosphere, normally an underground geological formation. The aim is to prevent the release of large quantities of CO2 into the atmosphere from fossil fuel use in power generation and other industries . It is a potential means of mitigating the contribution of fossil fuel emissions to global warming and ocean acidification. Although CO2 has been injected into geological formations for several decades for various purposes, including enhanced oil recovery, the long term storage of CO2 is a relatively new concept.
In the coming years there is an increasing demand for Carbon Capture and Storage in the regions of United States and Europe that is expected to drive the market for more advanced Carbon Capture and Storage. Growth in government budgets in the principal countries, increasing of power generation fields expenditures, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of Carbon Capture and Storage will drive growth in United States and Europe markets.
Globally, the Carbon Capture and Storage industry market is low concentrated as the manufacturing technology of Carbon Capture and Storage is relatively immatures than some high-tech equipment. And some enterprises, like ExxonMobil, Schlumberger, Huaneng, etc. are well-known for the wonderful performance of their Carbon Capture and Storage and related services. At the same time, North America, occupied 38% market share in 2017, is remarkable in the global Carbon Capture and Storage industry because of their market share and technology status of Carbon Capture and Storage.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Carbon Capture and Storage.
For full details – https://www.planetmarketreports.com/reports/global-carbon-capture-and-storage-market-forecast-2019-2024
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Carbon Capture and Storage market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Carbon Capture and Storage market by product type and applications/end industries.
Market Segment by Companies, this report covers
Exxonmobil Corporation
Schlumberger
Huaneng
Linde AG
Halliburton
BASF
General Electric
Siemens
Honeywell UOP
Sulzer
Equinor
NRG
AkerSolutions
Shell
Skyonic Corp.
Mitsubishi Hitachi
Fluor
Sinopec
Market Segment by Regions, regional analysis covers
North America United States, Canada and Mexico
Europe Germany, France, UK, Russia and Italy
Asia-Pacific China, Japan, Korea, India and Southeast Asia
South America Brazil, Argentina, Colombia
Middle East and Africa Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Market Segment by Type, covers
Pre-Combustion Carbon Capture
Oxy-Combustion Carbon Capture
Post-Combustion Carbon Capture
Market Segment by Applications, can be divided into
Oil & Gas
Power Generation
Others
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