Carbon Capture and Storage Market Is Expected to Grow Tremendously by 2030 - Aker Solutions, Fluor, Hitachi, Linde

New York, NY -- (SBWire) -- 03/12/2020 --Carbon capture and storage (CCS) is the process of removing carbon dioxide from sources, such as biomass power plant or a cement factory and shifting it to storage site that prevents it from entering the atmosphere. Its main objective is to avoid releasing large quantities of carbon dioxide in the air from the source industries. This process majorly contributes to the reduction of ocean acidification and global warming. The process is divided into three parts:

- Capturing the (CO2) carbon dioxide
- Transport of Carbon dioxide, and
- Safely storing CO2 emissions

Carbon dioxide is basically stored either in deep saline aquifer formations or depleted oil and gas fields located underground. As per International Energy Agency (IEA), carbon capture and storage procedure reduces the spread of carbon dioxide by 70%. CCS helps in increasing climate change benefits due to reduced carbon dioxide emissions. These advantages considerably reduce the harmful effects of climate change to humans.Market Industry Reports (MIR) has published a new report titled "Carbon Capture & Storage Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030." According to the report, the Global Carbon Capture & Storage Market is estimated to account for over US$ 6.0 billion in 2019. The market is anticipated to grow at a CAGR of approximately 12% from 2019 to 2030. 

Major Key Players of the Carbon Capture and Storage Market are:
Aker Solutions, Fluor, Hitachi, Linde, MITSUBISHI HEAVY INDUSTRIES, Exxon Mobil Corporation., GENERAL ELECTRIC, Halliburton, Schlumberger Limited, and Shell, among others.

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The growth of the carbon capture & storage market can be attributed to several factors, which have led to its wide-scale adoption. The popularity of CO2 injection technique for Enhanced Oil Recovery (EOR) and stringent government regulations to control the carbon emissions are anticipated to further contribute to substantial market growth between 2019 and 2030. However, the high implementation cost of carbon capture & storage technology is likely to restrain market growth to a certain extent. To obtain better insights pertaining to the market, prominent players are increasingly focusing on collaborative initiatives with several institutions, research centers, and companies. Collaboration on CCS has significantly increased internationally in the last three decades. New initiatives have brought together governments, industries, academia, and civil society groups to coordinate efforts and drive CCS technologies forward.

The popularity of CO2 injection technique for Enhanced Oil Recovery (EOR) has been growing rapidly in the petroleum industry owing to profitability from mature wells. Several governments have also shown interest in providing financial incentives to develop CCS demonstration projects. In Texas (U.S.), for more than 30yrs CO2 has been used in EOR projects; EOR constitutes over 20% of total oil production and some fields achieve recoveries of nearly 70%. This has led to growth of the carbon capture & storage market across the world.

Major Types of Carbon Capture and Storage covered are:
Pre-Combustion
Oxy-Firing, and Post-Combustion

Major Applications of Carbon Capture and Storage covered are:
EOR, Industrial
Agriculture

Research objectives:-

- To study and analyze the global Carbon Capture and Storage consumption (value & volume) by key regions/countries, product type and application, history data.
- To understand the structure of the Carbon Capture and Storage market by identifying its various sub-segments.
- Focuses on the key global Carbon Capture and Storage manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
- To analyze the Carbon Capture and Storage with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- The scope of this report centers on key market analyses, market drivers & challenges, and competitive analysis & trends. Research report examines each market and its applications, regulatory scenario, technological innovations, Carbon Capture and Storage market projections, market sizes, and shares. Moreover, the Carbon Capture and Storage market report examines the most recent trends, pipeline products and developments in the Carbon Capture and Storage market. Complete profiles of leading organizations in the market are also mentioned in this report.

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Table of Content

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Carbon Capture and Storage Market Size
2.2 Carbon Capture and Storage Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 Carbon Capture and Storage Market Size by Manufacturers
3.2 Carbon Capture and Storage Key Players Head office and Area Served
3.3 Key Players Carbon Capture and Storage Product/Solution/Service
3.4 Date of Enter into Carbon Capture and Storage Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global Carbon Capture and Storage Sales by Product
4.2 Global Carbon Capture and Storage Revenue by Product
4.3 Carbon Capture and Storage Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global Carbon Capture and Storage Breakdown Data by End User

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In the end, Carbon Capture and Storage industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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