Global carbon capture and storage vendors market is in its infancy
Technavio announced the top five leading vendors in their recent global carbon capture and storage (CCS) market report, according to a press release.
This market research report also lists 12 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
There is significant potential for the market to turn into a profit churning machine.
However, concerns related to the creation of a sustainable environment need to be taken into consideration.
“The strategies for the success of global CCS market is embedded in the life cycle analysis of projects in the power and manufacturing sectors. The vendors can work on these key areas to make significant progress and strengthen their share in this ever-evolving market,” said, Thanikachalam Chandrasekaran, a lead analyst for power research from Technavio.
Babcock & Wilcox
Babcock & Wilcox is a leading global provider of energy products and services as well as a premier advanced technology. Babcock & Wilcox is one the major players in the global CCS technologies market. The company has been an industrial leader in the supply of steam generation and environmental control equipment for electric power generation.
ENGIE is a natural gas and electricity supplier that operates through six segments: energy Europe, energy international, global gas and LNG, infrastructures, energy services, and environment businesses. The energy services business segment offers sustainable energy and environmental efficiency solutions in engineering, installation, and energy services.
GE Power, a subsidiary of GE, is a developer and supplier of advanced technologies for energy utilities. GE Power is one of the major players in the global CCS market. The company has been an industrial leader in the supply of steam generation and environmental control equipment for electric power generation.
The Linde Group
The Linde Group is an engineering company that supplies industrial, process, and specialty gases. The company serves industries such as the food and beverage, chemistry and energy, electronics, healthcare, and manufacturing industries. The company has been an industrial leader in the supply of equipment for electric power generation.
Mitsubishi Heavy Industries
Mitsubishi Heavy Industries focuses on the engineering, manufacturing, and sales of a wide range of products. The company offers its commercial CO₂ recovery system. It provides a post-combustion approach to capturing CO₂ from flue gases that are released by burning natural gas at chemical plants. The stored CO₂ is reused as a feedstock for production of chemicals such as urea.