The report forecasts the global CCS in power generation market to grow at a CAGR of 56.21% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend which will boost market growth is the shift in focus toward developing nations. The CCS projects have created a significant buzz in the developed economies' market, where the power generation sector has reached its maturity, and the reduction of the carbon emissions is at the center of all attention. These economies have matured technologies and have sorted the demands from energy sector demands out, which coupled with significant investments, have made it possible for them to shift to the low carbon technologies.
According to the report, a key growth driver is booming investments and advances in technology. For next-generation capture technologies, investments in R&D have increased over the years. Besides, there are government initiatives promoting carbon capture and storage technology, which also contribute to the growth of the market. Both private and public sectors are investing heavily in testing and commercializing low-carbon technology to reduce carbon costs and protect the environment.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?