Global Carbon Capture Utilization & Storage Market - Industry Dynamics, Size, And Opportunity Forecast To 2030

The Carbon Capture Utilization & Storage Market is experiencing robust expansion, with market size projected to increase from (3.1 Billion) 2023 to (10.2 Billion) 2030, demonstrating a consistent year-over-year growth rate of 13.2%. Carbon Capture Utilization & Storage Market Size, Share, Competitive Landscape and Trend Analysis Report, by Types (Capture, Utilization, Transportation, Storage), by Applications (Cement, Oil and Gas, Chemical and Petrochemical, Power Generation, Iron and Steel, Others) , by Technology (Pre-Combustion Capture, Oxy-Fuel Combustion Capture, Post-Combustion Capture) And Regions (North America (United States, Canada, Mexico), South America (Brazil, Argentina, Chile, Rest of South America), Europe (Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific), MEA (Middle East, Africa)) : Industry Forecast and Opportunity Analysis for 2023 - 2030

The Carbon Capture Utilisation and Storage (CCUS) market encompasses technologies that aim to mitigate climate change by capturing carbon dioxide (CO2) emissions from various sources, primarily large industrial facilities and power plants. The captured CO2 can then be used for different applications or safely stored in the Earth. CCUS provides an integrated solution in the mitigation of greenhouse gas emissions. The utilization pathways contain the repurposing of the captured CO2 into useful items, such as improved oil recovery (EOR), which involves injecting CO2 into oil wells to increase production, or CO2 as a raw material to produce chemicals, fuels, and building materials. Storage, however, refers to injecting the captured CO2 underground into deep geological formations, depleted oil and gas reservoirs, and/or saline aquifers where it is stored safely.

Carbon Capture Utilization & Storage Report Highlights

Report Metrics	Details
Forecast period	2019-2030
Base Year Of Estimation	2023
Growth Rate	CAGR of 13.2%
Forecast Value (2030)	USD 10.2 Billion
By Product Type	Capture, Utilization, Transportation, Storage
Key Market Players	Honeywell International Inc. JGC HOLDINGS CORPORATION Aker Solutions Exxon Mobil Corporation Mitsubishi Heavy Industries, Ltd. Schlumberger Limited Fluor Corporation Royal Dutch Shell PLC Halliburton Company Linde PLC
By Region	North America (United States, Canada, Mexico) South America (Brazil, Argentina, Chile, Rest of South America) Europe (Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe) Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific) MEA (Middle East, Africa)

Carbon Capture Utilization & Storage Market Trends

Government and industry are rapidly investing in CCUS technologies to decarbonise hard-to-abate industries, such as cement, steel, and chemicals. Policies, including tax credits (e.g., the U.S. 45Q tax credit) and tighter emission controls, are driving deployment. The market is also seeing a rise in partnerships between energy companies, technology providers, and governments to scale up projects. Future trends are the combination of CCUS with hydrogen production (blue hydrogen) and CA with the technologies that are able to value CO2 previously carbonated in the environment (also as fuels, chemicals, and building materials). The Asia-Pacific, especially China, is predicted to expand at an accelerated pace due to industrial expansion and carbon neutrality, respectively. In the meantime, Europe/North America continues to be important, supported by robust policy and corporate sustainability efforts.

Carbon Capture Utilization & Storage Market Leading Players

The key players profiled in the report are Exxon Mobil Corporation, Aker Solutions, Royal Dutch Shell PLC, Honeywell International Inc., Fluor Corporation, Halliburton Company, JGC HOLDINGS CORPORATION, Schlumberger Limited, Mitsubishi Heavy Industries, Ltd., Linde PLC

Growth Accelerators

The carbon capture, utilisation, and storage (CCUS) market are fuelled by global efforts to limit carbon emissions and combat climate change. Across the globe, some governments are putting in place rigorous environmental regulations, carbon pricing schemes, and incentives to promote CCUS use. Industries that have big carbon footprints (e.g., power, cement, steel) are adopting CCUS technologies in order to achieve their commitment to sustainability. The other important factor is the increasing carbon utilisation demands in different sectors. Captured CO2 is being utilised for enhanced oil recovery (EOR), synthetic fuels, and chemical processes, thereby creating economic value and decreasing emissions. The increasing investments from governments and private sectors, along with partnerships between energy companies and technology providers, are further accelerating market growth.

Carbon Capture Utilization & Storage Market Segmentation analysis

The Global Carbon Capture Utilization & Storage is segmented by Type, Application, and Region.
By Type, the market is divided into Distributed Capture, Utilization, Transportation, Storage . The Application segment categorizes the market based on its usage such as Cement, Oil and Gas, Chemical and Petrochemical, Power Generation, Iron and Steel, Others. Geographically, the market is assessed across key Regions like North America (United States, Canada, Mexico), South America (Brazil, Argentina, Chile, Rest of South America), Europe (Germany, France, Italy, United Kingdom, Benelux, Nordics, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific), MEA (Middle East, Africa) and others, each presenting distinct growth opportunities and challenges influenced by the regions.

Competitive Landscape

The carbon capture, utilization, and storage (CCUS) market are comprised of a combination of traditional energy firms, technology vendors, and newer and smaller companies. Big players such as Shell, Chevron, and ExxonMobil, because of their vast resources, infrastructure, and experience in large-scale carbon management schemes, are leading. Such companies frequently work with government and academic and research bodies to develop CCUS technologies. Moreover, dedicated companies, i.e., Aker Solutions, Schlumberger, and Mitsubishi Heavy Industries, are actively involved, providing novel capture and storage technologies. Markets are also witnessing growing interest from startups around niche technologies, including direct air capture (DAC) and carbon utilization, which are fostering competition and innovation.

Challenges In Carbon Capture Utilization & Storage Market

The Carbon Capture, Utilization, and Storage (CCUS) market has a number of critical challenges. The cost is high for capital and operations, which consider large cost investments in infrastructure, including capture facilities, pipelines, and storage sites. Furthermore, the high energy demand of carbon capture processes can minimize the overall effectiveness of power plants and other industrial facilities, hence posing a challenging issue with regard to their greater effectiveness and cost-effectiveness, particularly with the absence of significant subsidies or carbon trading policies. A second important challenge is public acceptance and social acceptability, especially in the context of CO2 storage safety and environmental effects. Questions of leaking and chronic liability can lead to delays in project approvals and community buy-in. Additionally, the market is currently at the stage of being in frank development, in terms of limited commercialization and scalability with respect to CCUS technologies. This leads to unsystematized practices and unproven business models, making it hard for all parties to evaluate risk and reward.

Risks & Prospects in Carbon Capture Utilization & Storage Market

The Carbon Capture, Utilisation, and Storage (CCUS) Market offers substantial growth prospects fuelled by growing global carbon emission reduction and net-zero initiatives. Industries, including power generation, cement, steel, and chemicals, are key sources of CO₂ emissions and are deploying CCUS to meet sustainability requirements. Moreover, the market potential is also increasing because the developments in direct air capture (DAC) and carbon utilisation technologies (e.g., CO₂ conversion to synthetic fuels, chemicals, and building materials) are broadening. As corporate efforts to create carbon neutrality increase, along with the expansion of the carbon credit market, further evidence of the commercialisation of CCUS is provided. Investments from energy companies, technology companies, and start-ups are accelerating the pace of research and development and are increasing the cost-effectiveness and scalability of the technologies. With the growing demand for improved oil recovery (EOR) and the emergence of special sites for dedicated carbon storage, it has lucrative prospects.

Key Target Audience

, The primary market target of the Carbon Capture, Utilisation, and Storage (CCUS) market consists of industrial emitters and energy companies. Sectors including cement and steel, chemicals and oil&gas represent large sources of CO 2 emissions and are, therefore, early adopters of CCUS technology to comply with regulation and implement sustainability measures. The energy sector, with the oil and gas industry as particularly critical stakeholders, represents an enormous perspective, accounting for the feasibility of reducing carbon emissions through the use of CCUS while ensuring continuing business during a carbon-constrained future., Furthermore, both government agencies and policymakers are important target groups, as they hold the key role of developing supportive regulatory arrangements, incentives, and funding programs in driving CCUS deployment. My emphasis is on the role of investors and technology providers who foster innovation and capital for CCUS projects, enabling scalability and commercialization of the technology. It is this combination of stakeholders that is the ultimate audience for driving growth in the CCUS market.

Merger and acquisition

The market for carbon capture, utilization, and storage (CCUS) has been actively experiencing mergers and acquisitions (M&A) activities in recent times, mainly spurred by the worldwide drive towards decarbonization and net-zero objectives. This year, leading energy companies and technology companies, such as, have been on an acquisition and merger spree of companies engaged in CCUS. For example, Occidental Petroleum purchased Carbon Engineering, a company engineering direct air capture (DAC) technology, for $1.1 billion, with the goal of expanding DAC projects. For example, Schlumberger (now SLB) jointly collaborated with the Panasonic Company on the development of carbon capture technologies because both energy and tech firms are increasingly interlinked in CCUS innovation. Furthermore, European companies have also been active; for example, Aker Carbon Capture is growing through strategic partnerships and acquisitions in order to consolidate their market position. In 2023, Baker Hughes acquired Mosaic Materials, a startup specializing in advanced carbon capture materials, to bolster its CCUS portfolio. These M&A activities highlight the increasing competition and investment in the CCUS sector, as companies aim to commercialise scalable solutions and meet regulatory and environmental demands. >

Analyst Comment

"The carbon capture, utilization, and storage (CCUS) market are currently witnessing a boom in growth thanks to the growing global response in curtailing GHG emissions and mitigating climate change. Carbon reduction targets and increased investments in CCUS technologies are being implemented by governments and industries around the world. The market includes different industries such as power generation, oil and gas, cement, and chemicals, and the adoption is driven in North America and Europe by policies and funding. Technological development and decreasing costs are also accelerating market growth, and CCUS is an integral part of the low-carbon economic transformation."