Global Carbon Capture and Storage Market in Energy 2015-2019
About Carbon Capture and Storage
Carbon capture and storage technology stores and captures man-made CO2 without releasing it into the atmosphere. The CO2 is captured at its source and converted into a concentrated stream for transportation and storage. Carbon capture and storage is an emerging technology, which is gaining popularity as companies have increased their investment because of stringent emission regulations and related penalties.
Technavio's analysts forecast the global carbon capture and storage market to grow at a CAGR of 31.63% over the period 2014-2019.
Covered in this Report
The report includes the segmentation of the global carbon capture and storage market on the basis of technology, sector, storage type, and geography.
Technavio's report, Global Carbon Capture and Storage Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market forecast and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Carbon Capture and Storage Market in Energy 2015-2019
Technavio recognizes the following companies as the key players in the global carbon capture and storage market in energy: GDF Suez, GE Energy, Schlumberger, Shell Cansolv and The Linde Group
Other Prominent Vendors in the market are: Aker Clean Carbon, Alstom, Chevron, Fluor, Hitachi, Mitsubishi Heavy Industries, Siemens Energy and Southern
Commenting on the report, an analyst from Technavio’s team said: Carbon capture and storage technology is expected to emerge as a clean technology that reduces GHG emissions. IGCC plants equipped with carbon capture and storage technology are cost-effective and profitable in terms of efficiency, capacity, and return on investment. The integration of carbon capture and storage with IGCC will reduce costs and make the technology economically viable. The integration of these technologies will help the market overcome commercialization issues.
According to the report, investments in R&D for next-generation capture technologies has increased over the years. Government initiatives promoting carbon capture and storage technology are also contributing to the growth of the market. Both the public and the private sectors are investing heavily in testing and commercializing low-carbon technology to reduce carbon costs and protect the environment. Advances in energy technologies and in carbon capture and storage technology are enabling the development of cost-effective solutions that tackle the global issue of climate change by reducing carbon emissions.
Further, the report states the slow development of carbon capture and storage technology and the slow rise in demonstration projects that create awareness about this technology are a result of the low financial support given by governments and companies for energy generation projects.
GDF Suez, GE Energy, Schlumberger, Shell Cansolv and The Linde Group, Aker Clean Carbon, Alstom, Chevron, Fluor, Hitachi, Mitsubishi Heavy Industries, Siemens Energy, Southern
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