Carbon Capture and Storage Market Worth $ 6.15 Billion, Globally, by 2027 at 7.88% CAGR: Verified Market Research

Rising industrialization rate coupled with raising investment for manufacturing facilities, increasing energy demands, coupled with towering investment toward the upstream & downstream sectors, are primarily driving the market

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Verified Market Research

Jan 25, 2021, 10:14 ET

JERSEY CITY, N. J., Jan. 25, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Carbon Capture and Storage Market By Technology (Pre combustion capture, Post combustion capture, and Oxy-fuel combustion capture), By End-User (Oil and Gas, Coal and Biomass Power Plant, Iron and Steel, Chemical, and Others), By Geography". According to Verified Market Research, the Global Carbon Capture and Storage Market was valued at USD 3.36 billion in 2019 and is projected to reach USD 6.15 billion by 2027, growing at a CAGR of 7.88% from 2020 to 2027.

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Browse in-depth TOC on "Carbon Capture and Storage Market"

202 - Pages
126 – Tables
37 – Figures

Global Carbon Capture and Storage Market Overview

The global carbon capture and storage market is principally driven by the rising industrialization rate coupled with raising investment for manufacturing facilities. Various governmental strategies to decrease greenhouse gas emissions in many industries will moreover support the demand for carbon capture and storage throughout the forecast period. Additionally, the improved oilfield recovery plans release carbon dioxide when the machine is in process. This released carbon dioxide requires being stored, thus driving the carbon capture and storage market. Moreover, increasing energy demands, coupled with towering investment toward the upstream & downstream sectors, will besides improve the carbon capture and storage market outlook. Additionally, serious concern about the increasing CO2 emission and the increasing energy demands among the management and societies, which eventually drives the carbon capture and storage market. Furthermore, the rising adoption of highly efficient power generation cycles along with technological improvements in the field is feeding the industry development.

The major players in the market are Royal Dutch Shell plc, Halliburton Company, Schlumberger Limited, Aker Solutions ASA, Statoil ASA, Chevron, Shell, Carbon Engineering, NRG Energy, Bow city Power.

Verified Market Research has segmented the Global Carbon Capture and Storage Market On the basis of Technology, End-User, and Geography.

Carbon Capture and Storage Market by Technology

Pre combustion capture
Post combustion capture
Oxy-fuel combustion capture

Carbon Capture and Storage Market by End-User

Oil and Gas
Coal and Biomass Power Plant
Iron and Steel
Chemical
Others

Carbon Capture and Storage Market by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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