June 13, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Carbon Capture and Storage Market.
It was estimated prior to this unanticipated outbreak that the Carbon Capture and Storage Market is likely to witness an impressive CAGR of 6.5% during the forecast period. Rising industrialization along with growing concern towards increasing emission is likely to boost the growth of carbon capture and storage market.
Market Scope & Segmentation
Carbon Capture and Storage is the processing of capturing waste carbon dioxide, transporting it to a storage site, and depositing it where it will not enter the atmosphere. The market is segmented by technology type into pre combustion, post combustion, and oxy-fuel combustion and by application type into oil & gas, chemical processing, power generation, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the technology type, the market is segmented as pre combustion, post combustion, and oxy-fuel combustion. The pre combustion segment is projected to be the largest segment of the market during the forecast period. Growing demand from the industrial sector including food processing and chemical is likely to boost the market for the pre combustion segment.
Based on the application type, the market is segmented as oil & gas, chemical processing, power generation, and others. The oil & gas segment is projected to remain the largest segment of the market. Increasing investment towards upstream oil & gas industry to cater to energy demand will drive the demand for carbon capture and storage market.
In terms of regions, North America is estimated to be the largest market led by the USA. Shale gas exploration, huge energy demand, stringent regulations, and adoption of new technologies in the USA are the major factors behind the dominance of the region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Key players operating in the global Carbon Capture and Storage market are-
- Exxon Mobil
- General Electric
- Aker Solutions
- Schlumberger Limited
- NRG Energy, Inc.
- Fluor Corporation
- Shell Cansolv
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Carbon Capture and Storage analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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