Press Releases

The global carbon capture and storage (CCS) market was USD 4.62 billion in 2022 and is expected reach USD 13.02 billion by 2030 with a CAGR of 13.80 % during the forecast period, i.e., 2023-2030. Carbon Capture and Storage (CCS) is a technology designed to reduce carbon dioxide (CO2) emissions from industrial processes and power generation. It involves capturing CO2 emissions at their source, transporting them, and storing them underground to prevent their release into the atmosphere. The demand for CCS is primarily driven by the urgent need to combat climate change. Governments, industries, and environmental organizations are pushing for CCS implementation to achieve carbon neutrality targets and mitigate the impacts of global warming. Additionally, industries with high emissions, like energy generation and heavy manufacturing, seek CCS as a means to decarbonize their operations; however, challenges for market growth include high initial investment costs, regulatory uncertainties, and public acceptance issues related to CO2 storage sites. Additionally, the availability of suitable geological formations for long-term CO2 storage is a critical factor influencing the widespread adoption of CCS technology

In February 2023, the U.S. administration’s Department of Energy (DOE) announced $2.5 billion in funding for two carbon management programs to significantly mitigate the carbon emissions from power generation and hard-to-abate industrial operations. The first program, Carbon Capture Large-Scale Pilots, will receive up to $820 million for up to 10 projects focused on de-risking transformational carbon capture technologies and the second program, Carbon Capture Demonstration Projects, will receive up to $1.7 billion for six projects. The projects target demonstrating commercial-scale carbon capture technologies integrated with the transportation of carbon dioxide and geologic storage infrastructure.

Browse 75 market data Tables and 45 Figures spread through 226 Pages and in-depth TOC on "Carbon Capture and Storage (CCS) Market, by Technology Type (Pre-Combustion Carbon Capture, Post-Combustion Carbon Capture, and Oxy-Fuel Combustion Carbon Capture), by End-User (Oil and Gas Industry, Power and Energy Industry, Metal Production, Chemical Industry, and Other End-User Industry), and by Region (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa)" - Global Forecast to 2030

By Technology Type, pre-combustion carbon capture technology dominates the global CCS market.

Based on the technology type, the global CCS market is segmented into pre-combustion carbon capture, post-combustion carbon capture, and oxy-fuel combustion carbon capture. Pre-combustion carbon capture technology dominated the global CCS market in 2022 owing to its efficacy in capturing CO2 before it is released from power plants or industrial facilities. Integrated Gasification Combined Cycle (IGCC) plants exemplify this technology by converting coal into synthesis gas, allowing for efficient CO2 capture. This approach is favored for its high capture rates and compatibility with various fuel sources, making it a prominent choice for reducing emissions in the energy sector.

Global Carbon Capture and Storage (CCS) Market Segmentation Analysis

“The Asia-Pacific is expected to register the fastest CAGR during the forecast period in the global carbon capture and storage (CCS) market.”

The Asia-Pacific is expected to registered the highest CAGR the global CCS market owing to the rapid industrialization, substantial emissions, and increasing government initiatives to combat climate change, driving demand for CCS technologies in the region.

Some of the major players in the global carbon capture and storage (CCS) market include ExxonMobil Corporation, Saudi Aramco, British Petroleum (BP), Fluor Corporation, ExxonMobil Corporation, Linde plc, Shell plc, Mitsubishi Heavy Industries, Ltd, JGC Holdings Corporation, Equinor ASA, Schlumberger Limited, Aker Carbon Capture, Carbon Clean Solutions Limited, C-Capture, Halliburton, Siemens, Hitachi, Ltd, Honeywell International Inc, Mirreco, SeeO2 Energy Inc., Neustark AG, CarbonFree, and Cemvita Factory Inc.

Scope of the Report

Global Carbon Capture and Storage (CCS) Market Coverage (By Value)

Technology Insight and Forecast 2018-2030

• Pre-Combustion Carbon Capture
• Post-Combustion Carbon Capture
• Oxy-Fuel Combustion Carbon Capture

End-User Insight and Forecast 2018-2030

• Oil and gas industry
• Power and energy industry
• Metal processing
• Chemical industry
• Other End-use Industry

Geographical Segmentation

Global Carbon Capture and Storage (CCS) Market by Region

• North America

• By Technology
• By End-User
• By Country – U.S., Canada, and Mexico

• Europe

• By Technology
• By End-User
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

• Asia-Pacific (APAC)

• By Technology
• By End-User
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

• South America

• By Technology
• By End-User
• By Country – Argentina, Brazil, Chile, and Rest of South America

• Middle East and Africa (MEA)

• By Technology
• By End-User
• By Country – Saudi Arabia, U.A.E, South Africa, and Rest of MEA