Pune, May 22, 2020 (GLOBE NEWSWIRE) -- The global carbon capture and sequestration market size is projected to reach USD 5.6 billion by the end of 2026. The presence of several large scale companies operating in numerous countries across the world will aid the growth of the market. According to a report published by Fortune Business Insights, titled “Carbon Capture and Sequestration Market Size, Share and Industry Analysis By End-Use (Enhanced Oil Recovery (EOR), Dedicated Storage), By Source (Chemicals, Natural Gas Processing, Power Generation, Fertilizers Production, Others) and Regional Forecast, 2019-2026,” the market was worth USD 2 billion in 2018 and will exhibit a CAGR of 13.84% during the forecast period, 2020-2027.

Carbon capture and sequestration is a technology that can help reduce the overall carbon footprint across industrial manufacturing units and other systems that are associated with carbon emissions. The increasing awareness regarding the adverse effects of carbon on the environment will lead to a wider product adoption across the world. Due to the properties of this product, companies are investing huge capital in the development of technologically advanced products with a view to bringing down the total carbon emission across the world. The presence of several large scale companies will emerge in favor of the growth of the market in the foreseeable future.  The increasing carbon emissions, owing to the increasing adoption of vehicles and increasing manufacturing units, will lead to a wider product adoption in the coming years.

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Company Mergers are a Growing Trend Among Major Companies

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of mergers and acquisitions will have the highest impact on the growth of the market in the coming years. In January 2019, Chevron announced that it has collaborated with Occidental Petroleum to invest in a new carbon capture and sequestration system. The company will be investing in Carbon Engineering’s Direct Air Capture, an advanced carbon capture and sequestration. This will help develop DAC mechanisms, that will ultimately help trap atmospheric carbon dioxide. Chevron’s latest collaboration with Occidental Petroleum will not just help the companies grow, but will have a positive impact on the growth of the overall market in the coming years. The report includes several other industry developments, similar to this and discusses their impact on the growth of the market in the coming years.

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North America to Account for the Highest Share; Presence of Several Industrial Plants will Aid Growth

The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in North America is projected to emerge as the dominant region in the coming years. The increasing number of industrial manufacturing plants has led to massive carbon emission across this region. As a result, there is a huge adoption of carbon capture and sequestration in several countries across this region. The strict regulations regarding carbon emissions and global warming will also lead to a wider product adoption. As of 2019, the market in North America was worth USD 1488.8 million and this value is projected to increase further in the coming years. The market in the Middle East and Africa will also witness considerable growth owing to the increasing oil and gas exploration activities.

List of Companies Profiled in the Carbon Capture and Sequestration Market Research Report are:

  • ExxonMobil
  • Shell
  • NRG Energy
  • Fluor Corporation
  • Aker Solutions
  • Dakota Gasification Company
  • Chevron
  • Linde
  • Total
  • ADNOC Group
  • Equinor
  • BP
  • Carbon Engineering Ltd.
  • China National Petroleum Corporation

Industry Developments:

November 2018:
Abu Dhabi National Oil Company (ADNOC) announced that it will be expanding its carbon capture and sequestration facility from Shah gas plant or Habshan-Bab gas processing units.

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Carbon Capture and Sequestration Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100819

Detailed Table of Content

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Emerging Trends – For Major Countries
    • Latest Technological Advancement
    • Regulatory Landscape
    • Porters Five Forces Analysis
  • Global Carbon Capture and Sequestration Market Analysis (MTPA & US$ Mn), Insights and Forecast, 2015-2026
    • Key Findings
    • Market Analysis, Insights and Forecast – By Source
      • Chemicals
      • Natural Gas Processing
      • Power Generation
      • Fertilizers Production
      • Others
    • Market Analysis, Insights and Forecast – By End Use
      • Enhanced Oil Recovery (EOR)
      • Dedicated Storage
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Latin America
      • Europe
      • Asia Pacific
      • Middle East & Africa

TOC Continued...!!!

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