Enjoy complimentary customisation on priority with our Enterprise License!
Technavio’s market research analysts have estimated the global CCS (carbon capture and storage) in power generation market to grow profoundly at a CAGR of about 60% by 2020. The over-dependence on fossil fuels and abundant supplies is considered to be one of the primary growth drivers in this market. Technological advancements and booming economies are directly dependent on the availability of energy and ever since commercial uses of oil and natural gas was discovered, the demand for fossil fuels has only increased. The available fossil fuels are expected to meet the energy demands for decades. There will be significant emissions of greenhouse gases, which will, in turn, increase the demand for carbon capture and storage systems.
This industry research report identifies the apprehensions related to EOR (enhanced oil recovery) application as one of the major trends that will gain traction in this market in the coming years. The significance of CO2 in oil and natural gas recovery has been around for decades. The rise in the number of CCS projects has led to the abundant availability of CO2 which can now be injected into the reservoirs to replenish the naturally occurring gas drive. The constantly increasing demand for fossil fuels will subsequently lead to the demand for EOR techniques, which will, in turn, drive the growth of the CO2 sequestration technology market.
According to this market study report, the pre-combustion capture segment will dominate the CCS in power generation market during the forecast period and will account for almost 63% of the total market share by 2020. The advances in first-generation pre-combustion technologies and the estimated decrease in the cost of pre-combustion technologies will fuel the growth of this market segment.
During 2015, the Americas dominated the global market and accounted for the majority of the market shares. Stringent government regulations on carbon emissions coupled with government support and incentives drive the growth of the market in this region. This market research and analysis predicts that the Americas will continue to dominate this market in the coming years as well.
The market is currently in its infant stages and even though it exhibits significant potential for growth, its present status is uncertain. Due to the presence of several vendors, the market appears fragmented, and although there is a great growth potential, vendor success depends on a certain course of business decisions and strategies.
The leading vendors in the market are -
The other prominent vendors in the market are Hitachi, Sulzer, Siemens, Amec Foster Wheeler, and Air Products.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.