Carbon capture and sequestration (CSS) market size was valued at over USD 2.2 billion in 2015 and is estimated to be worth more than USD 15 billion by 2023, with estimate gains of 25% from 2016 to 2023.
U.S. carbon capture and sequestration market size was the largest and is expected to witness gains due to increase in government regulations and growing environmental concerns. Europe is expected to witness significant growth over the forecast period. Energy portfolio strategies and the emission standards adopted by European Union nations are likely to be among the major factors to attract investment. Countries such as the Netherlands, Norway, and UK are expected to plan extensive investments in carbon capture technology. The stored carbon dioxide (CO2) can be efficiently used for better recovery techniques in UK Continental Shelf and North Sea fields.
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Fossil fuels are a major source of greenhouse gas (GHG) and CO2 emissions globally. Practice of coal-burning power stations is responsible for a large volume of electricity generated CO2 emissions. Other sources include industrial sites and thermal power plants, such as natural gas fired. These emissions are increasing gradually and increasing concerns towards permanent air quality change, climate change, and ocean acidification. A control in GHG emissions is made essential at regional, national, and international policy levels. Carbon capture & storage (CCS) has been concluded as a technology to help in these climate change alleviation strategies.
Carbon capture and sequestration (CCS) technology is designed to capture up to 85% of the CO2 emissions obtained from fossil fuels via electricity generation and industrial processes, averting the CO2 from atmospheric accumulation. CCS is segmented into parts; capturing, transporting, and storing the CO2 emissions, in deep saline aquifer formations and underground in exhausted oil & gas fields.
Demand for clean power technologies and emission compliance targets set by various countries are among the key drivers to attract investment in the carbon capture & sequestration market. European nations are regulated to create a low carbon economy in coming years by investing in CCS technology. This technology is designed to be implemented in coal gasification plants and natural gas processing and Investment in clean power technologies.
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Carbon capture and sequestration (CCS) market share is comprised of The Linde Group, Royal Dutch Shell, Vattenfall AB, GDF SUEZ, Mbd Energy, Carbon Cycle, E3tec Service, Skyonic, Novomer Inc., BASF, Oakbio Inc., Lanzatech Inc, and Enn Group.
This latest Carbon Capture and Sequestration Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Carbon Capture and Sequestration industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Carbon Capture and Sequestration (CCS) Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023.” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/carbon-capture-and-sequestration-css-market
Key Insights in this Report
- Global Carbon Capture and Sequestration Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Carbon Capture and Sequestration Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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