The Global Carbon Capture And Sequestration Market Is Estimated To USD$ 7.09 billion by 2020

Date: 2016-09-18

The Carbon Capture And Sequestration market was estimated at USD$ 3.75 billion in 2015, and is anticipated to reach USD$ 7.09 billion by 2020. Carbon Capture And Sequestration is 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 depositing it where it will not enter the atmosphere, normally an underground geological formation. The aim is to prevent the release of large quantities of CO2 into the atmosphere (from fossil fuel use in power generation and other industries).

North America is estimated to dominate the market, owing to factors such as more number of coal- and gas-fired power plants, which emit more greenhouse gases when compared with other sources of power generation. Furthermore, Supreme Court of the United States has proposed a carbon trading scheme, named US Clean Power Plan on February 2016, which is expected to be implemented from 2017. This scheme aims at curbing carbon pollution from the power plants in the U.S. In addition, the Canadian government, along with the industry partners, is conducting research on developing CCS technology at Alberta’s two largest universities. This creates huge opportunities for carbon capture and storage market in Canada.

Asia Pacific Carbon Capture And Sequestration market share is expected to benefit due to manufacturing industries’ growth in China, Japan, and India. Rapid Industrialization coupled with increase in pollution is expected to drive the CCS market. Initial investment cost and lack of awareness is likely to restrain growth in Middle East & Africa.

The capture segment occupied the largest market share in the carbon capture & sequestration market in 2015. The segment has further been segmented into pre-combustion, post-combustion, and oxy-fuel. In 2015, the pre-combustion segment held the largest market share, owing to increase in number of projects.

According to survey, the region of Carbon Capture And Sequestration market share as following:
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

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