Carbon Capture And Storage (CCS) Market Analysis, Size, Growth, Share & Outlook Forecast to 2027 | Grand View Research Inc.
Capturing’ attention across the globe Carbon capture and storage is receiving a lot of support from industries as well as Governments across the world, with the common consensus being that carbon capture and storage goes a long way in delivering deep emissions reductions, particularly in industries such as cement, petrochemicals, fertilizer and steel, which make up for over 20% of the global emissions. The United Kingdom has begun a carbon capture project from the burning of wood. The project, known as Bio Energy with Carbon Capture and Storage (BECCS), is being carried out at the Drax Power Station in North Yorkshire, and is the first such project in Europe. The Carbon capture and storage market is expected to see high growth in the coming years, with the following factors at play:
The market is anticipated to be propelled by energy demand and ‘carbon dioxide’ reduction awareness.
Strict Government regulations with regards to greenhouse gas emissions is also expected to drive the industry forward. Since 1997, there has been a 20-time increase in the number of global laws regarding climate change, which include