Market Research Future (MRFR) has announced a new release on the global carbon capture and storage market. The report discusses the global carbon capture and storage market’s growth prospects over the forecast period from 2018 to 2023 based on the market’s historical growth trajectory and key drivers and restraints.Carbon capture and storage is a technology used to retrieve carbon produced in a variety of activities and store it in safe sites such as underground rock formations and unused oil wells. This prevents the release of large amounts of carbon dioxide into the atmosphere, thus helping keep the environment clean.
Also Read: [FURL=http://www.marketwatch.com/story/carbon-capture-and-storage-market-2020-industry-analysis-by-type-technology-application-growth-insights-drivers-scope-sales-revenue-demand-and-forecast-by-2023-2020-08-12]http://www.marketwatch.com/story/carbon-capture-and-storage-market-2020-industry-analysis-by-type-technology-application-growth-insights-drivers-scope-sales-revenue-demand-and-forecast-by-2023-2020-08-12[/FURL]
Segmentation:
The global carbon capture and storage market is segmented on the basis of type, application, and region.
By type, the global carbon capture and storage market is segmented into pre-combustion, post-combustion, and oxy fuel combustion. The pre-combustion segment is likely to hold a dominant share in the global carbon capture and storage market over the forecast period due to the widespread applicability of the technology in gasification combined cycle power plants.
By application, the global carbon capture and storage market is segmented into enhanced oil recovery (EOR), agriculture, and industrial. EOR is likely to hold a dominant share in the global carbon capture and storage market over the forecast period due to its suitability as a carbon reservoir.
By end use, the carbon capture and storage market is segmented into the iron and steel industry, oil and gas industry, chemical industry, and others.
Regional Analysis
On the basis of region, the global carbon capture and storage market is segmented into North America, Europe, Asia Pacific, and the Middle East and Africa.
North America is likely to hold a dominant share in the global carbon capture and storage market over the forecast period due to the widespread presence of a large number of CCS plants in the region. The growing industrial sector in the U.S. and increasing carbon emissions during energy generation procedures are likely to drive the demand from the carbon capture and storage market in North America over the forecast period.
The Middle East and Africa could also emerge as a major player in the global carbon capture and storage market over the forecast period due to the presence of large carbon capture projects in Saudi Arabia and Algeria. Europe also holds a significant share in the global carbon capture and storage market due to the extensive oil and gas operations in the North Sea, which have opened up the possibility of carbon storage in oil wells in the region.
Get Full Report at: [FURL=https://www.marketresearchfuture.com/reports/carbon-capture-storage-market-1862]https://www.marketresearchfuture.com/reports/carbon-capture-storage-market-1862[/FURL]