Carbon Capture & Storage (CCS) is a technology that can capture up to 90% of carbon dioxide (CO2) emissions produced due to the utilization of fossil fuels in electricity generation and industrial processes. This process prevents carbon dioxide from entering the atmosphere. CCS is an imperative resolution in the contest against global changes in climatic conditions and plays a significant role in controlling greenhouse gas emissions. 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.
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.
Major Key Players of the Carbon Capture & Storage Market are:
Aker Solutions, Fluor, Hitachi, Linde, MITSUBISHI HEAVY INDUSTRIES, Exxon Mobil Corporation., GENERAL ELECTRIC, Halliburton, Schlumberger Limited, and Shell, among others.
Aker Solutions, Fluor, Hitachi, Linde, MITSUBISHI HEAVY INDUSTRIES, Exxon Mobil Corporation., GENERAL ELECTRIC, Halliburton, Schlumberger Limited, and Shell, among others.
No comments:
Post a Comment