New York, According to a new market research report published by Global Insight Services “Carbon Capture and Storage Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Carbon capture and storage (CCS) technology refers to the process of capturing waste carbon dioxide (CO2) from large point sources, such as fossil fuel power plants, transporting it to a storage site, and injecting it deep underground where it will not enter the atmosphere.
CCS can play an important role in mitigating climate change by reducing CO2 emissions from power plants and other industrial sources. When used in conjunction with renewable energy sources, CCS can help to achieve deep cuts in greenhouse gas emissions.
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Key Trends
CCS technology has been used for over a decade, and its feasibility and effectiveness have been well-demonstrated. In recent years, there has been a renewed interest in CCS as a means of reducing GHG emissions, in light of the Paris Agreement and the need to meet ambitious climate targets.
There are a few key trends in CCS technology:
- Increasing efficiency and scale of CCS processes
- Developing new CCS processes and applications
- Improving the economics of CCS
- Deploying CCS in a variety of settings
Key Drivers
The Carbon Capture and Storage (CCS) market is driven by a number of factors, including environmental concerns, government regulations, and the need for a more efficient and cleaner energy mix.
CCS technology helps to reduce greenhouse gas emissions from power plants and other industrial facilities by capturing carbon dioxide (CO2) before it is released into the atmosphere. The captured CO2 is then transported to a storage site, where it is injected deep underground and permanently sequestered.
Market Segments
By Technology
- Pre-Combustion
- Post Combustion
- Oxy-Fuel Combustion
- Others
By Application
- Oil and Gas
- Chemical Processing
- Power Generation
- Cement
- Others
Key Players
- Aker Solutions
- Air Products and Chemicals, Inc.
- Alstom
- American Electric Power
- Archer Daniels Midland Company
- BASF SE
- BP plc
- Chevron Corporation
- Dresser-Rand Group
- Exxon Mobil
- Fluor Corporation
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Reasons to buy Carbon Capture and Storage Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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