• CCS market to hit US$6 billion by 2026, according to estimate

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      Patrick Lavery

      Combustion Industry News Editor

Market and strategy consulting firm Global Market Insights has described the demand for carbon capture and storage projects as “flourishing”, and estimating that the industry will reach US$6 billion (€5.53 billion) per year by 2026. The European market is set to grow 10% by that time, driven mostly by government initiatives, and one would expect the North American market would grow faster, given the significant tax credits in place in the US. Installations are expected to occur not just in the power generation sector, but also across other industries, including chemicals, oil and gas, and presumably steelmaking.