Co2 Capture & Storage (CCS) Market

Date: 2016-05

The Global CO2 capture and storage (CCS) market has gained much prominence in the recent years due to increased concerns on environment and energy conservation. The CO2 capture and storage market basically involves the capture of carbon dioxide from the sources of emission, separation from other gases, its transportation to a suitable location and storage. The main purpose of CCS is to reduce these emissions in the environment that contributes to the global warming of Earth.

The global market for CO2 capture and storage is rapidly growing at an explosive CAGR exceeding 25% over the forecast period to reach $Xx m by 2020.The global market for CCS in 2014 is spread throughout the Americas, Europe, Asia-Pacific and Rest of the world. It has huge growth opportunities with numerous large scale projects being developed on an international level. The rapidly growing utility of coal in nations such as China and India are set to drive the market for CO2 capture and storage since CCS is a decent technology to diminish the effects of the emissions caused.

Biofuel industry will be the largest end user industry in the future followed by oil and gas. Growth of CO2 capture and sequestration for enhanced oil recovery process is the key factor that propels the market. Increase in biomass conversion activities for alternative fuel generation is one of the most important driving factors of this market.

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