London, 22 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the global carbon capture and storage market in energy 2015-2019, which is expected to grow significantly at a CAGR of 31.63% during 2014-2019.
Salvaging and reusing CO2 is a major contributing factor that drives market growth for the global carbon capture and storage market in energy. Additionally, the usage of carbon capture and storage technology in combination with integrated gasification combined cycle renders carbon capture and storage projects more effective in terms of efficiency, capacity, and return on investment.
“The use of carbon capture and storage technology can reduce emissions from power and oil and gas projects by 80%-90%, thus increasing the reuse of CO2,” says Faisal Ghaus, Vice President of Technavio.
“This factor has encouraged CO2 emitters to adopt carbon capture and storage technology, as any violation of environmental regulations could invite heavy penalties.”
Key Market Drivers:
- Dependence on Fossil Fuels for Energy Needs and Abundant Supply.
- Growing Demand for Reuse of CO2.
- Growing Investments and Advances in Technology.
Key Market Trends:
- Integration of Carbon Capture and Storage with IGCC.
- Rising Environment Concerns.
Key Market Vendors:
- GDF Suez.
- GE Energy.
- Schlumberger Ltd.
- Shell Cansolv.
- The Linde Group.
- UOP LLC.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3Ef%20you%20are%20interested%20in%20more%2…
