Research Methodology on Carbon Capture Storage Market
Introduction
The global Carbon Capture and Storage (CCS) market is projected to witness healthy growth during the review period of 2023-2030. Carbon Capturing and Storage (CCS) includes technology involving the capture and long-term storage of carbon dioxide produced during industrial processes or due to the burning of fossil fuels. Carbon dioxide (CO2) is collected from large sources such as gas power plants or industrial processes, transported to a location, where it is injected into a geological formation, such as a deep saline aquifer (i.e. an oil or gas well) or depleted oil/gas field for long-term containment.
The CCS market is driven by numerous factors including increasing government initiatives to reduce global warming, the rising development in the oil & gas industry, and increased exploration & production activities. On the other hand, expensive CCS projects, lack of financial incentives and scepticism from investors due to the rising risk of sequestration not being a guaranteed process are some of the factors hindering the growth of the CCS market.
Research Methodology
This research study for Carbon Capture and Storage market is guided by the aid of secondary research and primary research. The secondary research includes reliable sources such as trade magazines, technical journals, white papers and other relevant sources to gather extensive information. These sources are implemented to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the Carbon Capture and Storage market. The primary research involves various interviews and surveys conducted with key industry personnel such as CEOs, CFOs, vice presidents and other experts of various organizations. The primary interviews provide in-depth and comprehensive knowledge regarding the Carbon Capture and Storage market. The data collected from both sources is then analysed, validated and statistically verified using various data triangulation methods and internal processes. The report also comprises detailed information about strategic initiatives, value chain analysis, market share analysis and market entry strategies.
Data Collection Sources
In order to analyse the current and future market potential of the Carbon Capture and Storage (CCS) market, data collection from numerous sources is undertaken by the researchers. These sources include industry and company annual reports, Industry Reports from reputed third parties including International Renewable Energy Agency (IRENA), Carbon Sequestration Leadership Forum (CSLF), and Carbon & Climate Law Review (CCLR), published journals and dissertations related to the Energy industry. Other sources used for data collection include Government sources such as government websites and annual reports, energy reports, and energy initiatives of governments around the world.
Market Research Approach
To analyse the Carbon Capture and Storage market and determine the forecasts, the researchers have followed the Market Research Methodology that is popularly accepted in the research industry. The market research approach involves segmentation, sampling, data collection and validation, analytical methods and market definitions.
Segmentation
After extensive secondary research and primary interviews, the market is segmented into CCS technology types, end-users, regions and company profiles.
Company Profile Analysis
The company profile analysis involves the identification of leading players in the Carbon Capture and Storage (CCS) Market and their product offerings, revenue, market share and other strategic initiatives.
Industry Participants and Major Investments
The report contains assessments of industry players and their strategic activity within the Carbon Capture and Storage market. The industry participants include GLS Energy, Eni, BP, Chevron, Shell, Total, DONG Energy and Coca-Cola, Suncor Energy, and Duke Energy.
Primary Research
Primary research is conducted to understand the current and potential opportunities and threats in the Carbon Capture and Storage market. Primary interviews, questionnaire surveys and discussions were conducted. Extensive interviews were conducted with industry personnel, commercial and industry experts, such as company representatives and managers, as well as consumers and stakeholders, to analyse the Carbon Capture and Storage market and its related services. The objective of the primary interview is to gather in-depth information about market dynamics, competitive scenarios, and areas of opportunity for the Carbon Capture and Storage market. All the primary interviews are conducted over the telephone and online interviews.
Secondary Research
The sections in the report are based on a comprehensive syndicated market research program and supplemented by government statutory reports on renewable energy, detailed market reports from reputed market research houses, graphic designers and key associations, trade magazines, reputed company websites and reports published by various branches of The United Nations and International agencies. Secondary research is conducted to identify and collect information useful for the extensive, technical, market-oriented and commercial study of the Carbon Capture and Storage market.
Data Validation
The data collected through secondary and primary sources are validated by performing internal triangulation. Statistical weight is given to the data collected to ensure accuracy, along with performing various types of market estimations and forecasts based on the latest developments and trends in the studied market.
Analytical Tool
The Carbon Capture and Storage (CCS) market report consists of historical data, along with forecasts for the period of 2023-2030. Various analytical tools and models such as Porter’s Five Forces model, Regression Analysis model, SWOT Analysis and Forecasting Model, are used to analyze the global market data. All the graphical representations are designed to simplify the understanding of market trends and/or forecasts.
Universal Currency Conversion
The currency for the report is determined and converted effectively at the time of report generation and is performed after a comparison with the currency of the locale where the research is conducted.
Conclusion
The Carbon Capture and Storage (CCS) market is expected to witness significant growth, during the proposed review period of 2023-2030. The report provides comprehensive information about the market trends and key opportunities for the market participants to adopt. This research follows rigorous protocols to come up with comprehensive projections for the period of 2023-2030. The report also comprises detailed information about strategic initiatives, value chain analysis, market share analysis, and market entry strategies. Moreover, the report provides an in-depth analysis of the CCS technology, end-users, region and company profiles. The report also covers the current and potential opportunities, market drivers, challenges, industry and company profiles in detail. The report is based on reliable sources such as trade magazines, technical journals, white papers and other sources, which are also utilised to identify and collect information useful and relevant to analyse the future growth of the Carbon Capture and Storage industry.
