Global Carbon Capture and Storage market will reach 4990 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/9/5

Carbon capture and storage (CCS) (or carbon capture and sequestration or carbon control 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.

In the coming years there is an increasing demand for Carbon Capture and Storage in the regions of United States and Europe that is expected to drive the market for more advanced Carbon Capture and Storage. Growth in government budgets in the principal countries, increasing of power generation fields expenditures, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of Carbon Capture and Storage will drive growth in United States and Europe markets.

For the Carbon Capture and Storage market, Exxonmobil Corporation, Schlumberger, Linde AG, Halliburton and BASF respectively account for 13.70%, 10.08%, 6.81%, 6.09% and 5.96% market share in 2018, and the sum of the market share percentage held by the largest number of firms in this industry is less than 50%, which indicate that the Carbon Capture and Storage industry is perfectly competitive and is considered low concentration.

Globally, the Carbon Capture and Storage industry market is low concentrated as the manufacturing technology of Carbon Capture and Storage is relatively immatures than some high-tech equipment. And some enterprises, like ExxonMobil, Schlumberger, Huaneng, etc. are well-known for the wonderful performance of their Carbon Capture and Storage and related services. At the same time, Americas, occupied 49% market share in 2018, is remarkable in the global Carbon Capture and Storage industry because of their market share and technology status of Carbon Capture and Storage.

In 2018, the global Carbon Capture and Storage market size was 3300 million US$ and it is expected to reach 4990 million US$ by the end of 2025, with a CAGR of 6.1% between 2019 and 2025.

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