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Carbon Capture and Storage Market Size 2019 By Regional Revenue, Trend and Growth Forecast

Author : Rahul Sankrityayan | Published Date : 2019-07-29 

The U.S. carbon capture and storage market size is projected to grow at a CAGR of 6% from 2019 to 2024 owing to growing demand for clean technology along with introduction of government initiatives to encourage deployment of carbon emissions technologies.

Carbon Capture and Storage Market size will cross USD 6 billion by 2024.Growing demand for carbon technologies to meet 20C scenario along with strict government regulations to curb carbon footprint will drive the market size. Product ability to reduce carbon emission by 85% to 90% makes its adoption preferable over other available alternates. According to New Source Performance Standards in the U.S., the new coal fired plant can emit 1400 lbs. CO2/MWh. 

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Pages:   160

Tables: 198

Charts / Figures:              9

Companies covered:      14

Countries covered:         10

Favourable government initiatives to encourage adoption of sustainable technology along with measures to reduce the toxic pollutant concentration will stimulate the U.S. Industry share. In 2008, the U.S Energy Improvement and Extension Act introduced section 45Q to provide credit of USD 20 per metric ton for storing CO2 in deep water saline formation and USD 10 per metric ton for storing CO2 through enhanced oil recovery. In 2016, the U.S. president Obama funded USD 90 billion through American Recovery and Reinvestment Act towards strategic clean energy investment and tax credit to promote development of low carbon technologies. 

Post Combustion carbon capture and storage market size will reach over 22 MTPA by 2024. The technology ability to retrofit with new and existing power plant will make its adoption preferable over other alternates. Increasing adoption of conventional pulverized coal fired power plants will propel the industry growth. 

Browse key industry insights spread across 160 pages with 198 market data tables & 9 figures & charts from the report, “Carbon Capture And Storage Market Size By Technology (Pre Combustion, Post Combustion And Oxy-Fuel Combustion), By Application (Oil And Gas, Iron And Steel, Chemical Processing, Power Generation) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Norway, Germany, China, Australia, South Korea, UAE, Saudi Arabia), Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/carbon-capture-and-storage-market
 

Norway in 2016, accounted for over 45% of Europe market share. Abundant availability of CO2 storage site in Norwegian North Sea along with growing concern to meet decarbonization target will embellish the industry growth. According to E24, the government of Norway will invest approximately USD 46 million toward feasibility study of CCS project by 2022. 

Iron and steel carbon capture and storage market for 2016 was valued over USD 53 million. Increasing investment towards infrastructure and automobile sector will propel the business growth. In 2016, Abu Dhabi introduced CCS facility with 0.8 MTPA carbon capture capacity for iron and steel industry. 

Emerging demand for gas injection technique for EOR from mature fields will drive the carbon capture and storage market growth. Large volume of non-recovered oil, depleted hydrocarbon reserves and heavy reliance on crude oil imports are some of the key factors which will positively impact the demand for enhanced oil recovery. 

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South Korea carbon capture and storage market share will witness significant growth owing to growing concern to reduce greenhouse gas emissions. In 2016, the country set a target to reduce its GHG emission by 37% below business as usual emissions of 850.6 MtCO2e by 2030. 

Notable players in market include Fluor, Dakota Gasification, Sulzer, Japan CCS Company, Schlumberger, Aker Solution, Haliburton, Linde Engineering, Mitsubishi Heavy Industries, NRG energy, Exxon Mobil, Shell CANSOLV, Siemens and General Electric.

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.    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

Related Report:

Solid State Batteries Market   -https://www.reuters.com/brandfeatures/venture-capital/article?id=138021 

Electric Capacitor Market - https://www.reuters.com/brandfeatures/venture-capital/article?id=138018  

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

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