CARBON CAPTURE AND STORAGE MARKET ANALYSIS

Carbon Capture and Storage Market, By Technology (Pre-combustion, Post-combustion, and Oxy-fuel Combustion), By Application (Oil and Gas, Power Generation, Iron and Steel, Chemical and Petrochemical, Cement, and Others), By Service (Capture, Transportation, Utilization, and Storage), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Apr 2024
Code : CMI5065
Pages :179
Formats :
Excel and PDF
Industry : Smart Technologies

Market Challenges: Advancements in Commercial-scale Carbon Capture: Considerations and Current Landscape

The technologies needed for viable commercial-scale carbon capture are still quite expensive compared to its alternatives. Public acceptance of underground carbon storage also remains uncertain. Regulatory frameworks for long-term liability and monitoring of stored carbon are still being developed in many jurisdictions. Significant transportation infrastructure would be required to transport captured carbon from emission sources to suitable storage sites. The market also lacks financial incentives for first movers, as the social cost of carbon is not yet reflected in energy prices.

Market Opportunities: Climate Change Mitigation Initiatives: Driving Demand for Emission Reduction Solutions

Government investments and regulations around climate change mitigation are driving the demand for options to reduce hard-to-abate industrial emissions. Developing expertise in carbon capture and storage technologies and services presents an opportunity to export knowledge and projects to other regions.