+1-888-308-5802     
News Contact Us

2019-2024 |North America Carbon Capture and Storage Market, By Technology and Trends

Author : Rahul Sankrityayan | Published Date : 2019-06-20 

Global Market Insights, Inc. present the report on Carbon Capture and Storage Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2017-2024.

The globally prevalent trend to reduce carbon emissions is a vitally imperative fact that has been driving carbon capture and storage market. Perpetually impelled by the urgent requirement to brainstorm newer methodologies to uphold energy efficiency, numerous governmental bodies across the globe have been attempting to exploit the CCS technology, which can certainly be deemed one of the major factors fueling carbon capture and storage industry share. A crucial precedent validating the legitimacy of the aforementioned declaration is Scottish energy minister’s announcement regarding the requirement of CCS as a critical tool to accomplish reduced energy consumption across the United Kingdom.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2033

If reports are to be believed, the Scottish energy minister affirmed that as per the Intergovernmental Panel on Climate Change, the costs to accomplish even a 2°C climate change without CCS would be a mammoth 138% more than the current value. Considering the country’s past records of unfortunate failures regarding the implementation of CCS, it has now become even more vital that the UK government comes up with a robust policy draft that includes working in tandem with the Scottish and other governments, to consolidate UK’s position in the overall carbon capture and storage market. It needs to be remembered though, that the UK government has been extremely tenacious as far as its energy agendas are concerned.

 In 2008, the government had introduced the Climate Change Act with an aim to lower GHG emissions up to 80% by 2050, from 1990, which has been ideally considered a major step toward the propulsion of the regional carbon capture and storage industry. In 2015, the UK government also suggested that the deployment of CCS technology is likely to save close to USD 38.69 billion by 2024 – an affirmation that is certain to encourage other regional governments to adopt the CCS technology, thereby pushing the overall carbon capture and storage market a few notches higher. What seems to be conclusive from this volley of information is that UK carbon capture and storage industry is likely to witness lucrative growth prospects in the many years ahead, driven by the extensive pipeline of CCS projects and the rising demand in the country for cost-effective technologies to accomplish the set decarbonization targets.

Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2033

Carbon capture and storage market trends across the Scandinavia belt: Norway betting big on CCS technology

The Scandinavian countries have quite profoundly established their foothold across carbon capture and storage industry. Norway in particular, has garnered the reputation of being quite a powerful player in carbon capture and storage market. The country’s government has imposed exorbitant taxes on carbon emissions since long, encouraged by which, Statoil, the state-owned energy company, has captured and stored close to a mammoth million tons of carbon dioxide under North Sea bed, on an annual basis, since the year 1996. The program brought in a plethora of environmental and monetary benefits for the nation, on the grounds of which Statoil reproduced the process at Snøhvit - its under-sea natural gas drilling station, further consolidating its position in Europe carbon capture and storage industry.

The Scandinavian kingdom, renewed with the success of its CCS program, aimed to educate other geographies in carbon capture and storage market, regarding its technical expertise about CCS, on the grounds of which an alliance was inked in the year 2010, between Oslo and London. In accordance with the same, Britain’s companies were expected to make substantial investments in carbon capture technology through pipeline systems under the sea bed, while the carbon dioxide would be injected in the ground.

Browse Complete Summary of this report @ https://www.gminsights.com/industry-analysis/carbon-capture-and-storage-market

Through this deal, Norway and Britain aimed to use the existing under-sea infrastructure to transport carbon dioxide directly to storage wells – a move that was forecast to have a substantial impact on carbon capture and storage market. In fact, the Norwegian oil ministry claimed that this sort of system was likely to curb close to 270 million tons of carbon emissions/year by the year 2030 and over 400 million tons by 2050, which gradually encouraged the governmental bodies of other geographies across carbon capture and storage industry to follow suit.

One of the major concerns associated with CCS technology that may possibly hamper the growth matrix of carbon capture and storage market is that the carbon dioxide gas may possibly leak from its permanent storage and return to the atmosphere. However, a group of researchers from the Princeton University have recently published a paper, categorically stating that the CCS procedure would not be prone to leakage or exorbitant costs associated with leaks. The research has also affirmed that the leakage levels, based on the simulations at hypothetical storage locations, would most certainly not lead to extensive costs in the overall energy system. Princeton’s research study thus stands to provide a positive boost to the overall carbon capture and storage industry, which as per research estimates, is forecast to surpass a valuation of USD 6 billion by 2024.

It needs to be remembered that this technology, being at its infancy, has still not been commercially deployed on a large scale across the globe, owing to which the overall carbon capture and storage market is still in the nascent stages of development. Nonetheless, the underlying fact that it is a rather effective strategy for climate change mitigation, in an era where fossil fuels are still being deployed, in itself serves to prove that this fraternity would scale massive heights of success in the forthcoming years. Not to mention, with the backing of regulatory and governmental bodies striving to achieve clean energy goals, it is imperative that carbon capture and storage industry will traverse a path of profitability, having registered a valuation of USD 2.5 billion in 2016.

Report Content

Chapter 1.    Methodology and Scope

1.1.    Methodology

1.1.1.   Initial data exploration

1.1.2.   Statistical model and forecast

1.1.3.   Industry insights and validation

1.1.4.   Market definitions and forecast parameters

1.2. Data sources

1.2.1.   Primary

1.2.2.   Secondary

Chapter 2.    Executive Summary

2.1.    Carbon capture and storage industry 3600 synopsis, 2013 – 2024

2.1.1.   Business trends

2.1.2.   Technology trends

2.1.3.   Application trends

2.1.4.   Regional trends

Chapter 3.    Carbon Capture and Storage Industry Insights

3.1.    Industry segmentation

3.2.     Industry landscape, 2013 – 2024

3.3.    Industry ecosystem analysis

3.3.1.   Vendor matrix

3.4.    Innovation & sustainability

3.5.    Regulatory landscape

3.5.1.   U.S.

3.5.2.   Europe

3.5.3.   China

3.5.4.   Australia

3.6.    Comparison of non-weighted average LCOE with tax credits and non-weighted average LACE

3.7.    Carbon Emissions targets by countries

3.8.    List of key CCS project

3.8.1.   UK

3.8.2.   U.S.

3.8.3.   China

3.8.4.   South Korea

3.8.5.   Canada

3.9.    Technology landscape

3.9.1.   Pre Combustion

3.9.2.   Post Combustion

3.9.3.   Oxyfuel Combustion

3.10. Industry impact forces

3.10.1. Growth drivers

3.10.1.1.    Strict government norms towards GHG emissions

3.10.1.2.    Increasing demand for CO2 EOR

3.10.2. Industry pitfalls & challenges

3.10.2.1.    High initial cost of CCS

3.10.2.2.    Lack of policies

3.11. Growth potential analysis

3.12.        Porter's analysis

3.13.        Competitive landscape, 2016

3.13.1. Strategy dashboard

3.14. PESTEL analysis

Chapter 4.   Carbon Capture and Storage Market, By Technology

4.1.   Global market share by technology, 2016 & 2024

4.2.    Pre-combustion

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.    Post-combustion

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

 

 

 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

Related News

3D Printed Implants Market to witness major growth in coming years

Published Date: 2019-07-17         Author: Rahul Sankrityayan

3D Printed Implants Market size is expected to grow significantly from 2019 to 2025. 3D printing involves addition of consecutive layers of materials until the object is created in three-dimensional form. This technology is expected to meet growing needs of healthcare by providing specially configur... Read More

Skin Grafts Market drivers of growth analyzed in a new research report

Published Date: 2019-07-17         Author: Rahul Sankrityayan

Skin Grafts Market size is projected to experience significant growth from 2019 to 2025. Rising prevalence of skin cancer, rising demand for skin graft and new product launch by market players will drive skin graft market. According to American Academy of Dermatology, more than 1 million Americans s... Read More

Water Tube Industrial Boiler Market 2019 By Industry Growth & Regional Trend To 2024

Published Date: 2019-07-17         Author: Rahul Sankrityayan

Water Tube Industrial Boiler Market analysis is provided for the World markets including development trends, competitive landscape analysis, and key regions development status. The ongoing trend of industrialization across the globe has been fueling the water tube industrial boiler market remarka... Read More

© 2019 Fractovia. All Rights Reserved