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.
There are a number of CCS projects currently in operation around the world, and many more are in the planning stages. CCS technology is still relatively new and there are a number of challenges that need to be addressed, including the high cost of capture and transport, and the potential for leakage from storage sites.
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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.
CCS is seen as a key technology for mitigating climate change, as it has the potential to reduce CO2 emissions from power plants by up to 90%. In addition, CCS can be used to capture other greenhouse gases, such as methane and nitrous oxide.
The CCS market is expected to grow in the coming years, as more countries adopt climate change mitigation strategies and regulations. The International Energy Agency (IEA) estimates that CCS could play a role in reducing global CO2 emissions by up to 20% by 2050.
There are a number of challenges that need to be addressed in order for CCS to be deployed at scale, including the high cost of the technology and the lack of a comprehensive regulatory framework.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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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
- GE Power
- Halliburton
- McDermott International, Inc.
- National Oilwell Varco
- Royal Dutch Shell
- Schlumberger Limited
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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- In-depth segmentation which can be customized as per your requirements
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- Infographic excel data pack, easy to analyze big data
- Robust and transparent research methodology
- Unmatched data quality and after sales service
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Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.