According to the latest research report titled ‘Carbon Capture and Storage Market Share, Size, Trends, Industry Analysis Report, By Capture Type; Application; By Regions, Segments & Forecast, 2020- 2026’, available with Market Study Report, global carbon capture and storage industry size is projected to reach USD 10.45 billion by the end of the forecast period 2020-2026.
 

As per the findings of the report, growing emissions of carbon dioxide and increasing application of enhanced oil recovery (EOR) technologies are the major growth promoters of global carbon capture and storage market.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2963753/
 

For those unfamiliar, carbon capture and storage comprises a set of technologies that isolate carbon dioxide from fossil fuels, manufacturing & process waste streams, and then compress, transport, and inject it into permanent geological storage at onshore or offshore locations. At the present, most of the R&D efforts is poured into reducing energy losses during the various stages of the process, however, one of the most significant improvements this technology is the development of high firing temperature larger gas turbines with greater efficiency.
 

Notably, global carbon capture and storage market is still at nascent stage despite the alarming levels of carbon dioxide emitted each year. It is estimated that there over 22 CCS projects worldwide with more than 16 projects starting in the upcoming years. Increase in investments for demonstration and early deployment of CSS for proving the applicability of capture systems at a large scale in industrial applications is likely to bolster the industry growth. Moreover, development of efficient CO2 transportation infrastructure will present new growth opportunities for global carbon capture and storage industry expansion in the upcoming years.
 

On the contrary, complex and stringent government regulations, along with high cost of carbon capture and storage systems and its deployment are negatively impacting the business dynamics.
 

Considering the geographical outlook, North America currently accounts for majority of global carbon capture and storage market share, creditable to favorable regulatory scenario, rising government effort for deployment of emission technologies, and extensive use of EOR methods in the region.
 

Asia Pacific market is anticipated to showcase tremendous gains in the upcoming years, driven by high economic growth countries like Japan, Indonesia and Malaysia that are focusing on cleaner environment due to the implications of rapid industrialization in the region. 
 

Top players influencing global carbon capture and storage industry trends are HTC Extraction Systems, Japan CCS Co., Ltd., A.P. Moller – Maersk Group, Mitsubishi Heavy Industries, Ltd., Sulzer Ltd., Fluor Corp., Siemens AG, Linde Engineering India Pvt. Ltd., Dakota Gasification Co., Equinor ASA (formerly Statoil), Aker Solutions ASA, and Royal Dutch Shell plc.