Carbon Capture, Utilization and Storage Market
Carbon Capture, Utilization and Storage Market Size, Share, Competitive Landscape and Trend Analysis Report by Service, Technology and End-User: Global Opportunity and Industry Forecast (2024-2030)
Report ID:
1098
Industry:
Chemicals & Materials
Published on:
Nov 2025
Carbon Capture, Utilization and Storage Market Summary
Global Carbon Capture, Utilization and Storage Market size was valued at USD 3.40 Billion in 2024 and is expected to reached at USD 8.87 Billion by 2030, growing at a CAGR of 17.3 % during the forecast period (2024-2030).
Carbon Capture, Utilization and Storage Industry Trends and Analytical Insights -
North America Carbon Capture, Utilization and Storage Market was the largest revenue generating region market in year 2024, with market share accounted for 45 %.
In 2024, By Technology, Pre-Combustion Capture dominated the Carbon Capture, Utilization and Storage Market, accounted for 71.8 % market shares.
Leading Key players for Carbon Capture, Utilization and Storage Market in 2024 was ExxonMobil Low Carbon Solutions, Occidental (Oxy) / Oxy Low Carbon Ventures, Shell, and TotalEnergies.
Market Size & Forecast
Market Size 2024: USD 3.40 Billion
Projected Market Size 2030: USD 8.87 Billion
CAGR (2024-2030): 17.3%
Asia-Pacific Dominated the market in 2024
Carbon Capture, Utilization and Storage Market Overview
The Carbon Capture, Utilization and Storage Industry in 2024 was a tier of accelerated deployment across industrial clusters, with decarbonization commands at a large scale and a growing number of corporate emissions reduction commitments was the main drivers. Globally, more than 40 new commercial Carbon Capture, Utilization and Storage projects had progressed to advanced development stages, thereby increasing the total number of facilities in the pipeline to over 300. Furthermore, capture capacity expansions have exceeded 55 million tonnes per annum (Mtpa), mainly owing to fast investments in post-combustion and direct air capture technologies in Carbon Capture, Utilization and Storage Industry. The heavy industries such as cement, steel, refining, power, and chemicals that was at the forefront of adoption, were leading as the regulatory authorities was getting tougher with their compliance requirements and are giving incentives such as tax credits and cross-border CO2 infrastructure to the ones who move early.
North America Carbon Capture, Utilization and Storage Market was at top position in the global market in 2024, a major factor was the presence of more than 35 fully operational Carbon Capture, Utilization and Storage projects, and a variety of incentives that helped the deployment of the sectors of power, LNG, and industry to accelerate. Europe Carbon Capture, Utilization and Storage Market was at second place with more than 25 Mtpa of planned storage capacities in the North Sea and more than 20 border-crossing CO₂ transport projects in the pipeline. The Asia-Pacific Carbon Capture, Utilization and Storage Market became more competitive with over 15 new project announcements, mainly in Japan, South Korea, China, and Australia, where industrial hubs were Sino-integrating capture units to the new storage basins. The Middle East Carbon Capture, Utilization and Storage Industry made a turn towards the future with the help of national oil companies that were increasing the use of CO₂-EOR and the setting up of industrial decarbonization clusters.
This extensive analysis by Jadhavar Business Intelligence Pvt Ltd provides consumers with a complete and actionable picture of the Global Carbon Capture, Utilization and Storage Market, including market size, share, trends, and growth estimates from 2024 to 2030. It provides a complete overview of important locations and countries by Service, Technology and End-User. Clients receive comprehensive market dynamics, business tool analysis (PORTER and PESTLE), a Technology roadmap, and regulatory updates. The study also includes country-specific projections, competitive benchmarking, Company profiles, and M&A activity, all of which aid in strategic planning, market entry analysis, and competitor positioning in Carbon Capture, Utilization and Storage Industry.
Carbon Capture, Utilization and Storage Market Dynamics
The Carbon Capture, Utilization and Storage industry advanced its development in 2024 due to stricter government policies for decarbonization. More than 70 countries had put in place carbon-pricing or emissions-trading mechanisms that make industrial operators the main target of capture solutions. Carbon Capture, Utilization and Storage Industry became a key tool in more than 150 corporate net-zero pledges, thus giving a sector-wide commitment to the hard-to-abate areas (cement, steel, chemicals, heavy transport) where investments had rapidly increased. The total of global funding commitments has gone beyond USD 20 billion for new capture hubs and storage appraisal programs, whereas more than 10 national strategies had introduced long-term liability frameworks for geological storage, hence significantly lowering the investor risk and increasing the commercial feasibility of large-scale Carbon Capture, Utilization and Storage Market Trend deployment.
Carbon Capture, Utilization and Storage Industry had a strong momentum, but it was facing barriers of a structural nature in 2024 that prevented it from widely adopted at a large scale. The high upfront capital costs in many cases more than 100-150 USD per ton of CO₂ captured were the reason for the limited deployment of the technology in industrial facilities of medium size. Over 60% of global projects that had announced experienced delays owing to long permitting cycles and the shortage of locations for storage that had certified. The area of infrastructure saw restrictions as less than 30% of the planned networks for CO₂ transport were at a stage where construction could start. Moreover, there was challenges in terms of commercialization that could be scaled up due to the presence of issues such as the doubt regarding the storing of liability for the long term, the lack of uniformity in regional policy support, and the shortage of specialists in subsurface engineering in the workforce.
The Carbon Capture, Utilization and Storage Market experienced growing opportunities in 2024 when governments and industries decided to increase their investments in large-scale decarbonization measures. As many as 120 plus new Carbon Capture, Utilization and Storage Industry hubs were established around the globe, thus setting a fresh network of integrated capture, transport, and storage ecosystems that facilitate cluster-based cost efficiencies. Massive improvements in modular capture units have made them 20–25% less energy-intensive, thus opening a wider range of small-scale emitters. More than 50 start-ups had developed inceptive utilization technologies such as synthetic fuels, mineralization, and CO₂-to-chemicals at the pilot scale. Moreover, the total volume of long-term offtake contracts for CO₂ removal had exceeded 5 million tons, thus indicated the very early stage of Carbon Capture, Utilization and Storage Market commercialization.
Expert Insight:
Carbon Capture, Utilization and Storage Market, clearly outlining technology shifts and regional momentum. Its analysis is solid, but greater emphasis on cost trajectories, commercialization risks, and differentiation among new technology players would strengthen its depth. Overall, it captures the market’s direction well while highlighting key barriers to scale.
Carbon Capture, Utilization and Storage Market Segmentation
The Carbon Capture, Utilization and Storage Market is segmented into by Service, Technology and End-User.
By Service
Based on Service the Carbon Capture, Utilization and Storage Industry is segmented into Capture, Transportation, Utilization and Storage. Among this Capture sub segment dominated the Carbon Capture, Utilization and Storage Market accounted for 54.8 % of total Carbon Capture, Utilization and Storage Market shares. This dominance was primarily driven by the expensive nature of the clean-up systems whose leadership had to come from the capital-intensive side, that was a large-scale installation of absorbers, solvents, compressors, and integration units at emission sources. The industrial and power-plant capture facilities had been the main source of the segment's costs as over 70% of the global Carbon Capture, Utilization and Storage investments had directed towards these facilities. Furthermore, the growth of post-combustion and industrial point-source capture projects at a rapid pace contributed to consolidating this segment as the biggest and most commercially deployed service segment.
By Technology
Based on Technology the Carbon Capture, Utilization and Storage industry is segmented into Pre-Combustion Capture, Post-Combustion Capture, Oxy-Fuel Combustion, Chemical Looping, Solvents & Sorbents, Bio-Energy CCS and Direct Air Capture. Among Pre-Combustion Capture dominated the Carbon Capture, Utilization and Storage Market accounted for 71.8 % of total Carbon Capture, Utilization and Storage Market shares. This dominance was primarily driven by fast proliferation of blue hydrogen projects, IGCC plants, and syngas-based industrial processes, where pre-combustion capture was the most straightforward option as it can be directly integrated into the fuel-processing stages. Also, the segment's dominance throughout the year was additionally supported by increased governmental backing of hydrogen-powered decarbonization and extensive industrial retrofits.
Carbon Capture, Utilization and Storage Market Regional Analysis
In 2024, North America Carbon Capture, Utilization and Storage Market was the major global market, accounted for 45% of market share. Being the primary contributor to the largest current and future network of capture projects globally. The global deployment of various sectors such as power generation, LNG, ammonia, cement, and refining was highly facilitated by numerous federal incentives, among which tax credit mechanisms and carbon management funding were the most significant. Moreover, this market was enriched with over 35 operational Carbon Capture, Utilization and Storage facilities and some of the deepest geological storage potentials, accompanied by extensive Class VI well permitting activities and rapidly growing CO₂ transport infrastructures, hence making North America the global leader in commercial and pre-commercial Carbon Capture, Utilization and Storage installations.
Asia-Pacific Carbon Capture, Utilization and Storage Market, Europe Carbon Capture, Utilization and Storage Market, and the Middle East Carbon Capture, Utilization and Storage Market displayed a significant increase in their upward Carbon Capture, Utilization and Storage Market Trend as well. In that year, Europe Carbon Capture, Utilization and Storage Market was able to realize more than 20 cross-border CO₂ transport and storage projects exceeding the utilization of the North Sea storage capacity along with very strict emissions policies. The Asia-Pacific Carbon Capture, Utilization and Storage Market has become very active, especially in China, Japan, South Korea, and Australia, where more than 15 new industrial Carbon Capture, Utilization and Storage Market initiatives had announced, mainly driven by the sectors of hydrogen, steel, and power decarbonization. The Middle East Carbon Capture, Utilization and Storage Market chose to go on with oil and gas related Carbon Capture, Utilization and Storage Industry at full scale, which was facilitated by national energy strategies and a large CO₂-EOR facility, thus enabling the market to be repositioned as a future local carbon management hub.
Carbon Capture, Utilization and Storage Market Competitive Landscape
In 2024, the Carbon Capture, Utilization and Storage Market was largely influenced by major integrated energy companies and industrial technology leaders who had significant financial resources and carbon management portfolios already in place. The top six companies ExxonMobil Low Carbon Solutions, Occidental, Shell, TotalEnergies, Equinor, and Chevron were in the strongest positions as a result of their broad project pipelines, deep expertise in subsurface storage, and dominance of CO₂ transport infrastructure. These enterprises accounted for more than half of the total global large-scale Carbon Capture, Utilization and Storage deployments, thus, they had a competitive advantage by utilizing their decades of experience in reservoir management, proprietary capture technologies, and long-term partnerships in power, refining, and industrial clusters. Their monetary power and conformity to regulations made it possible for them to carry out thousands of tonnes multi-million projects at a fast pace in various regions.
The broader competitor environment mainly consisted of specialist technology and engineering companies that through innovation, modular solutions, and a specialized capture system helped to accelerate the adoption of the Carbon Capture, Utilization and Storage Industry. Aker Solutions/Aker Carbon Capture, Linde, Air Liquide, Mitsubishi Heavy Industries, Siemens Energy, Schlumberger, and Baker Hughes invested in strengthening their positions by supplying them with high-efficiency capture units, compressors, process integration services, and geological characterization technologies. During the same period, Climeworks and Carbon Engineering were leading the innovations in the rapidly growing Direct Air Capture sector, which was funded by corporate offtake agreements and government-supported carbon removal incentives. As a result, these players collectively diversified the Carbon Capture, Utilization and Storage Industry with technologies that were scalable and complemented the infrastructure-led strategies of large integrated developers.
Carbon Capture, Utilization and Storage Market Scope:
Carbon Capture, Utilization and Storage Market Key Players –
Occidental (Oxy) / Oxy Low Carbon Ventures
TotalEnergies
Equinor
Aker Solutions / Aker Carbon Capture
Air Liquide
Mitsubishi Heavy Industries (MHI)
Siemens Energy
Schlumberger (SLB)
Baker Hughes
Climeworks
Carbon Engineering
Carbon Capture, Utilization and Storage Market Frequently Ask Questions –
1) Who are the major Key players of Carbon Capture, Utilization and Storage Market?
Ans – The major key players ExxonMobil Low Carbon Solutions, Occidental (Oxy) / Oxy Low Carbon Ventures, Shell, TotalEnergies and Equinor.
2) Which Region accounted highest share of the Carbon Capture, Utilization and Storage Market in 2024?
Ans - North America region accounted highest share of the Carbon Capture, Utilization and Storage Market.
3) What was the market size of Carbon Capture, Utilization and Storage Market in 2024?
Ans - In 2024, market size of the Carbon Capture, Utilization and Storage Market was USD 3.40 Billion.
4) Which Segment is expected to lead the Carbon Capture, Utilization and Storage Market during forecast period?
Ans - Technology Segment was the top segment hold the largest share in Carbon Capture, Utilization and Storage Market.
5) What will be the market size of Carbon Capture, Utilization and Storage Market in 2030?
Ans - The market size of Carbon Capture, Utilization and Storage Market in 2030 will be USD 8.87 Billion.