Carbon Capture Utilization 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

1. Carbon Capture, Utilization and Storage Market: Overview

1.1. Study Assumption and Market Definition

1.2. Scope of the Study

1.3. Executive Summary

1.3.1. Market Size and Market Share by Segments, Region and Country

2. Carbon Capture, Utilization and Storage Market: Market Variables and Key Insights

2.1. Carbon Capture, Utilization and Storage Market Dynamics

2.1.1. Market Trends Analysis

2.1.2. Market Drivers Analysis

2.1.3. Market Challenges Analysis

2.1.4. Market Opportunities Analysis

2.2. Carbon Capture, Utilization and Storage Market Business Tools Analysis

2.2.1. PORTER’s Five Forces Analysis

2.2.2. PESTLE Analysis

2.3. Technology Roadmap

2.4. Value Chain Analysis

2.5. Regulatory Landscape by Region

2.5.1. North America

2.5.2. Europe

2.5.3. Asia Pacific

2.5.4. Middle East and Africa

2.5.5. South America

2.6. Analysis of Telecommunications Schemes and Initiatives on the Global Carbon Capture, Utilization and Storage Industry

3. Carbon Capture, Utilization and Storage Market: Global Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

3.1. Global Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

3.1.1. Capture

3.1.2. Transportation

3.1.3. Utilization

3.1.4. Storage

3.2. Global Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

3.2.1. Pre-Combustion Capture

3.2.2. Post-Combustion Capture

3.2.3. Oxy-Fuel Combustion

3.2.4. Chemical Looping

3.2.5. Solvents & Sorbents

3.2.6. Bio-Energy CCS

3.2.7. Direct Air Capture

3.3. Global Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

3.3.1. Power Generation

3.3.2. Chemicals & Petrochemicals

3.3.3. Oil & Gas

3.3.4. Cement

3.3.5. Iron & Steel

3.3.6. Others

3.4. Global Carbon Capture, Utilization and Storage Market Size and Forecast, by Country (2024-2030)

3.4.1. North America

3.4.2. Europe

3.4.3. Asia Pacific

3.4.4. Middle East & Africa

3.4.5. South America

4. Carbon Capture, Utilization and Storage Market: North America Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

4.1. North America Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

4.1.1. Capture

4.1.2. Transportation

4.1.3. Utilization

4.1.4. Storage

4.2. North America Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

4.2.1. Pre-Combustion Capture

4.2.2. Post-Combustion Capture

4.2.3. Oxy-Fuel Combustion

4.2.4. Chemical Looping

4.2.5. Solvents & Sorbents

4.2.6. Bio-Energy CCS

4.2.7. Direct Air Capture

4.3. North America Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

4.3.1. Power Generation

4.3.2. Chemicals & Petrochemicals

4.3.3. Oil & Gas

4.3.4. Cement

4.3.5. Iron & Steel

4.3.6. Others

4.4. North America Carbon Capture, Utilization and Storage Market Size and Forecast, by Country (2024-2030)

4.4.1. United States

4.4.2. Mexico

4.4.3. Canada

4.6.1.1. United States Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

4.6.1.2. United States Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

4.6.1.3. United States Mexico Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

4.6.2.1 Mexico Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

4.6.2.2 Mexico Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

4.6.2.3 Mexico Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

4.6.3.1 Canada Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

4.6.3.2 Canada Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

4.6.3.3 Canada Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

5. Carbon Capture, Utilization and Storage Market: Europe Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

5.1 Europe Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

5.1.1 Capture

5.1.2 Transportation

5.1.3 Utilization

5.1.4 Storage

5.2 Europe Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

5.2.1 Pre-Combustion Capture

5.2.2 Post-Combustion Capture

5.2.3 Oxy-Fuel Combustion

5.2.4 Chemical Looping

5.2.5 Solvents & Sorbents

5.2.6 Bio-Energy CCS

5.2.7 Direct Air Capture

5.3 Europe Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

5.3.1 Power Generation

5.3.2 Chemicals & Petrochemicals

5.3.3 Oil & Gas

5.3.4 Cement

5.3.5 Iron & Steel

5.3.6 Others

5.4 Europe Carbon Capture, Utilization and Storage Market Size and Forecast, by Country (2024-2030)

5.4.1 United Kingdom

5.4.2 France

5.4.3 Germany

5.4.4 Italy

5.4.5 Spain

5.4.6 Sweden

5.4.7 Russia

5.4.8 Rest of Europe

5.4.1.1 United Kingdom Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

5.4.1.2 United Kingdom Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

5.4.1.3 United Kingdom Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

5.4.2.1 France Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

5.4.2.2 France Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

5.4.2.3 France Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

5.4.3.1 Germany Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

5.4.3.2 Germany Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

5.4.3.3 Germany Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

5.4.4.1 Italy Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

5.4.4.2 Italy Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

5.4.4.3 Italy Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

5.4.5.1 Spain Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

5.4.5.2 Spain Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

5.4.5.3 Spain Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

5.4.6.1 Sweden Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

5.4.6.2 Sweden Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

5.4.6.3 Sweden Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

5.4.7.1 Russia Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

5.4.7.2 Russia Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

5.4.7.3 Russia Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

5.4.8.1 Rest of Europe Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

5.4.8.2 Rest of Europe Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

5.4.8.3 Rest of Europe Carbon Capture, Utilization and Storage Market Size and Forecast, Service Type (2024-2030)

6. Carbon Capture, Utilization and Storage Market: Asia Pacific Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

6.1. Europe Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

6.1.1. Capture

6.1.2. Transportation

6.1.3. Utilization

6.1.4. Storage

6.2. Europe Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

6.2.1. Pre-Combustion Capture

6.2.2. Post-Combustion Capture

6.2.3. Oxy-Fuel Combustion

6.2.4. Chemical Looping

6.2.5. Solvents & Sorbents

6.2.6. Bio-Energy CCS

6.2.7. Direct Air Capture

6.3. Europe Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

6.3.1. Power Generation

6.3.2. Chemicals & Petrochemicals

6.3.3. Oil & Gas

6.3.4. Cement

6.3.5. Iron & Steel

6.3.6. Others

6.4. Asia Pacific Carbon Capture, Utilization and Storage Market Size and Forecast, by Country (2024-2030)

6.4.1. China

6.4.2. South Korea

6.4.3. Japan

6.4.4. India

6.4.5. Australia

6.4.6. ASEAN

6.4.7. Rest of Asia Pacific

6.6.1.1 China Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

6.6.1.2 China Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

6.6.1.3 China Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

6.6.2.1 South Korea Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

6.6.2.2 South Korea Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

6.6.2.3 South Korea Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

6.6.3.1 Japan Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

6.6.3.2 Japan Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

6.6.3.3 Japan Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

6.6.4.1 India Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

6.6.4.2 India Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

6.6.4.3 India Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

6.6.5.1 Australia Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

6.6.5.2 Australia Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

6.6.5.3 Australia Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

6.6.6.1 ASEAN Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

6.6.6.2 ASEAN Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

6.6.6.3 ASEAN Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

6.6.7.1 Rest of Asia Pacific Carbon Capture, Utilization and Storage Market Size and Forecast, by C5omponent (2024-2030)

6.6.7.2 Rest of Asia Pacific Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

6.6.7.3 Rest of Asia Pacific Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

7 Carbon Capture, Utilization and Storage Market: Middle East & Africa Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

7.1. Middle East & Africa Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

7.1.1 Capture

7.1.2 Transportation

7.1.3 Utilization

7.1.4 Storage

7.2. Middle East & Africa Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

7.2.1. Pre-Combustion Capture

7.2.2. Post-Combustion Capture

7.2.3. Oxy-Fuel Combustion

7.2.4. Chemical Looping

7.2.5. Solvents & Sorbents

7.2.6. Bio-Energy CCS

7.2.7. Direct Air Capture

7.3. Middle East & Africa Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

7.3.1. Power Generation

7.3.2. Chemicals & Petrochemicals

7.3.3. Oil & Gas

7.3.4. Cement

7.3.5. Iron & Steel

7.3.6. Others

7.4. Middle East & Africa Carbon Capture, Utilization and Storage Market Size and Forecast, by Country (2024-2030)

7.4.1. South Africa

7.4.2. GCC

7.4.3. Turkey

7.4.4. Rest of ME&A

7.6.1.1 South Africa Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

7.6.1.2 South Africa Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

7.6.1.3 South Africa Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

7.6.2.1 GCC Carbon Capture, Utilization and Storage Market Size and Forecast, by Component (2024-2030)

7.6.2.2 GCC Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

7.6.2.3 GCC Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

7.6.3.1 Turkey Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

7.6.3.2 Turkey Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

7.6.3.3 Turkey Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

7.6.4.1 Rest of ME&A Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

7.6.4.2 Rest of ME&A Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

7.6.4.3 Rest of ME&A Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

8 Carbon Capture, Utilization and Storage Market: South America Market Size, Trend Analysis and Forecast (2024-2030) in Value (USD Billion)

8.1 South America Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

8.1.1 Capture

8.1.2 Transportation

8.1.3 Utilization

8.1.4 Storage

8.2 South America Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

8.2.1 Pre-Combustion Capture

8.2.2 Post-Combustion Capture

8.2.3 Oxy-Fuel Combustion

8.2.4 Chemical Looping

8.2.5 Solvents & Sorbents

8.2.6 Bio-Energy CCS

8.2.7 Direct Air Capture

8.3 South America Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

8.3.1 Power Generation

8.3.2 Chemicals & Petrochemicals

8.3.3 Oil & Gas

8.3.4 Cement

8.3.5 Iron & Steel

8.3.6 Others

8.4 South America Carbon Capture, Utilization and Storage Market Size and Forecast, by Country (2024-2030)

8.4.1 Brazil

8.4.2 Argentina

8.4.3 Rest of South America

8.6.1.1 Brazil Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

8.6.1.2 Brazil Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

8.6.1.3 Brazil Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

8.6.2.1 Argentina Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

8.6.2.2 Argentina Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

8.6.2.3 Argentina Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

8.4.3.1 Rest of South America Carbon Capture, Utilization and Storage Market Size and Forecast, By Service (2024-2030)

8.4.3.2 Rest of South America Carbon Capture, Utilization and Storage Market Size and Forecast, By Technology (2024-2030)

8.4.3.3 Rest of South America Carbon Capture, Utilization and Storage Market Size and Forecast, By End-User (2024-2030)

9 Carbon Capture, Utilization and Storage Market: Competitive Landscape

9.1 JBI Competition Matrix

9.2 Competitive Landscape

9.3 Key Players Benchmarking

9.3.1 Company Name

9.3.2 Service Segment

9.3.3 End-User Segment

9.3.4 Revenue Details

9.3.5 Market Share

9.3.6 Company Locations

9.4 Market Categorisation

9.4.1 Market Leaders

9.4.2 Market Followers

9.4.3 Market Emerging Players

9.4.4 Mergers and Acquisitions Details

9.5 Company Profiles of Leading Market Players (Company Overview, Service Portfolio, Financial Overview, SWOT Analysis, Strategies, Recent Developments, (Based on Availability))

9.5.1 Company Name

9.5.2 Service Segment

9.5.3 End-User Segment

9.5.4 Revenue Details.

9.5.5 Company Locations

9.5.5.1 ExxonMobil Low Carbon Solutions

9.5.5.2 Occidental (Oxy) / Oxy Low Carbon Ventures

9.5.5.3 Shell

9.5.5.4 TotalEnergies

9.5.5.5 Equinor

9.5.5.6 Chevron

9.5.5.7 Aker Solutions / Aker Carbon Capture

9.5.5.8 Linde plc

9.5.5.9 Air Liquide

9.5.5.10 Mitsubishi Heavy Industries (MHI)

9.5.5.11 Siemens Energy

9.5.5.12 Schlumberger (SLB)

9.5.5.13 Baker Hughes

9.5.5.14 Climeworks

9.5.5.15 Carbon Engineering

10 Carbon Capture, Utilization and Storage Market: Strategic Recommendations

11 Carbon Capture, Utilization and Storage Market: Key Takeaways

12 Carbon Capture, Utilization and Storage Market: Research Methodology

Note:

• The table of contents is as per our syndicate report aimed at a broader audience, can be modified as per requirements.

TOC can be amended before delivery as per research updates by the analysts.

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.

The focus of deployment in 2024 was primarily towards niche direct-air capture (DAC) pilots and industry-based sources by 2024, dedicated direct air capture (DAC) capacity was low with Clime works establishing a 36,000 tonne/year plant at the same time as several larger-scale CO2 storage sites recorded milestone credit certifications and verifiable injected volumes one example was an Australian initiative that noted cumulative injected storage in the millions and operational CO2 capture capabilities (OCC) exceeded millions of tonnes per annum all from a single location. The reported number of actual operational CO2 OCC plants varied widely, based on the source (ranging from tens to hundreds), due to variances in definitions of CO2 OCC plants, CCUS facilities and CO2 captured, stored or combined infrastructure, highlighting the issue of confusion impacting accurate quantitative estimate comparisons.

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

Carbon Capture, Utilization and Storage Market saw upward momentum in 2024 was dominated by supportive policies and large flows of capital. Total global investment into clean energy reached over $3 trillion, over $2 trillion of which was allocated towards the development of clean technologies. This arrival of investment supported the financing of industrial capture and transportation infrastructure. In the U.S., evolving tax credit frameworks and hub funding created certainty for investors. In addition, many large-scale CO2 removal projects received awards from the government, as well as funding opportunities (in the hundreds of millions of dollars). Together, these financing signals contributed to an increase in both feasibility studies that received financing and the number of commitments for early-stage projects in 2024.

While the abundance of finance availability in Carbon Capture, Utilization and Storage Industry has increased, the barriers created by cost and policy execution have yet to be overcome. The capture and removal processes were very capital intensive. Several of the market trackers reported an increase in the amounts of announced capacity year over year. However, it was important to note that there continues to be a shortage in the number of projects reaching the "final investment decision" or FID. Additionally, delays in regulatory clarifications in the US were cited as the primary reason for the slowdown of FIDs for many projects. Meanwhile, private capital that has been deployed for removal activities has largely been focused on a small number of projects, creating a large funding gap for the industrial retrofit and the pipeline build-out sectors.

In 2024, operational and policy milestones in Carbon Capture, Utilization and Storage Industry were gained on the immediate creation of commercial options, since governments and other organizations have committed hundreds of millions of dollars to Direct Air Capture (DAC) and DAC Hub pilots (including support for the development of two 1-Mtpa-DAC Hubs). This ultimately created a market for large volumes of carbon (CO2) transported for long-term storage and also created opportunities for developing engineered feedstocks (new products that contain CO2). As the number of projects developed and matured increased (right-to-use trackers indicated that dozens of construction starts had recently occurred) and the completion of approximately 50 DAC operational facilities developed (and multiple builds) was resulting in a short-term need for transportation and storage services, as well as a medium-term demand for cluster economies to bring down the cost per unit produced.

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 dominant 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 –

ExxonMobil Low Carbon Solutions
Occidental (Oxy) / Oxy Low Carbon Ventures
Shell
TotalEnergies
Equinor
Chevron
Aker Solutions / Aker Carbon Capture
Linde plc
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.

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