Carbon Capture and Sequestration Market worth 8.05 Billion USD by 2021|At a Projected CAGR of 13.6%
The Global Carbon Capture & Sequestration Market is projected to reach USD 8.05 billion by 2021, at a CAGR of 13.6% from 2016 to 2021. This growth can be attributed to rising environmental concerns across the world and increasing demand for CO2-EOR techniques.
The carbon capture & sequestration market has also been classified based on application into EOR process, industrial, agricultural, and others. The demand for EOR process is expected to increase during the forecast period, due to its usage in a wide range of applications in the oil & gas industry.
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This segment has further been segmented into pre-combustion, post-combustion, and oxy-fuel. Pre-combustion segment held the largest market size in 2015, given an increase in the number of pre-combustion projects.
North America held the largest market share, followed by Asia-Pacific and the Middle East. In 2015, the U.S. dominated the North American carbon capture & sequestration market. This can be attributed to government support, followed by presence of more coal- and gas-fired power plants.
Objective Of the Study :
- To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges).
- To identify the major stakeholders in the carbon capture & sequestration market and draw a competitive landscape for market leaders.
- To project the market size of the carbon capture & sequestration market and its segments in key regions, namely, North America, Africa, Asia-Pacific, South America, Europe, and the Middle East.
- To track and analyze recent developments such as expansions, new product launches, mergers & acquisitions, and contracts & agreements in the global carbon capture & sequestration market.
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