Energy & Mining

Global Carbon Capture and Storage (CCS) Market worth USD 7.8 billion by 2027

Press Release

Carbon capture and storage (CCS) are mainly used to capture carbon di-oxide which is disposed in underground mines. It reduces the atmospheric pollution by the decreasing the content of carbon di-oxide. The global carbon capture and storage (CCS) market can be segmented on the basis of services, technologies, application and end-users. On the basis of services, it is sub-segmented into carbon storage, carbon transportation and carbon capture. On the basis of technologies, it is sub-segmented into pre-combustion capture, post combustion capture, oxy-fuel combustion capture and industrial separation capture. On the basis of application, it is sub-segmented into industries, agriculture and enhanced oil recovery (EOR) process. Enhanced oil recovery (EOR) process sub-segment is anticipated to witness substantial growth on the back of high usage in the oil and gas industry as it is used to reduce the pressure of gas. On the basis of end–user type, it is sub-segmented into food & beverages, manufacturing sector, coal and biomass power plants, iron & steel, oil and gas sector and chemical industries. Oil and gas sector is anticipated to be the fastest developing sub-segment for the global carbon capture and storage market on the account of increasing need to minimize the greenhouse gases by the developing countries across the globe.

The global carbon capture and storage (CCS) market is anticipated to expand at a CAGR around 11.5% during 2018-2027. It is anticipated to reach around USD 7.8 billion by 2027. The growing environmental concern coupled with increasing demand for the uncontaminated energy by the various end-user industries is anticipated to propel the global carbon capture and storage (CCS) market during the forecast period.

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By region, global carbon capture and storage (CCS) market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to hold the largest market share for the global carbon capture and storage (CCS) market on the account of large number of oilfields in the region. The demand for the clean energy coupled with government regulations is also a major reason for the expansion of the carbon capture and storage (CCS) market in the region.

Rising environmental concern coupled with increasing demand for the clean energy is anticipated to boost the global carbon capture and storage (CCS) market

The growing use of fossil fuel is posing threat to the environment and human beings. The fossil fuel releases harmful gases known as greenhouse gases such as carbon di-oxide, chlorofluorocarbons (CFCs), has adverse impact on the environment. The carbon capture and storage (CCS) is used in order to decrease greenhouse gases. This technology reduces the amount of carbon dioxide content in the atmosphere. The increasing use of fossil fuel in the various regions in order to generate various forms of energy is anticipated to increase the demand for the clean energy generation with help of carbon capture and storage (CCS) worldwide.

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The report titled “Carbon Capture and Storage (CCS) Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global carbon capture and storage (CCS) market in terms of market segmentation by services type, by technologies type, by application type, by end-user type and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global carbon capture and storage (CCS) market which includes company profiling of key companies such as Exxon Mobil, Honeywell International Inc, Aker Solutions, Dakota Gasification Company, Fluor Corporation, Halliburton, Shell, Mitsubishi Heavy Industries LTD, The Linde Group, Siemens AG, Sulzer Ltd, General Electric, Japan CCS Company, NRG Energy, Schlumberger. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global carbon capture and storage (CCS) market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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