Global Carbon Capture and Storage (CCS) Market is valued USD 2.3 billion in 2016 is anticipated to grow USD 5.8 billion with the compounded annual growth of 10.90% over the forecast period 2018-2025.
New York 22 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Carbon Capture and Storage (CCS) Market industry is poised to raise USD 5.8 billion by 2025. Rising demand for Co2-EOR new techniques, 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.Based on the end user segment, power and oil and gas segment leads the market globally and the growth of this segment is attributed to rising focus of emerging countries in minimizing co2 emissions during power generation. On the other hand, in application segment enhanced oil recovery (EOR) process is expected to grow with a high CAGR during the forecast period.
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Global Carbon Capture and Storage (CCS) Market Size study, by Service, by Technology (Post-Combustion, Industrial Separation, Oxy-Fuel Combustion, Pre-Combustion) By Application (Agriculture, Enhanced Oil Recovery Process, Industries), by End User (Government, IT & Telecommunication, Manufacturing, Others) and by Regional Forecasts 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players Halliburton, Siemens AG, Mitsubishi Heavy Industries, Ltd., Hitachi, Ltd, Aker Solutions,
Fluor Corporatio , Honeywell International Inc., Linde AG , Exxonmobil Corporation, general Electric so on The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- North America leads the market globally due to the growing number of oilfields in this region.
- Asia is expected to observe moderate growth in the global.
Bizwit Research & Consulting LLP has considered following segments for the study:
- Carbon Storage
- Capture Transportation
- Carbon Capture
- Industrial Separation
- Oxy-Fuel Combustion
- Enhanced Oil Recovery Process
By End User:
- Manufacturing Sector
- Power and Oil and Gas sector
- Food & Beverages
- Chemical Industries
- Coal & Biomass Power Plant
- Iron & Steel
- North America
- Asia Pacific
- Latin America
- Rest of the World