Carbon Capture Utilization And Storage Market Report

Attractive Opportunities

Global Demand Analysis & Sales Opportunities in Carbon Capture, Utilization, and Storage Market 

• The annual demand for carbon capture, utilization, and storage was USD 4.1 billion in 2024 and is expected to reach USD 5.1 billion in 2025, up 23.7% than the value in 2024.
• During the next 8 years (forecast period of 2025-2032), the carbon capture, utilization, and storage market is expected to grow at a CAGR of 22.9%. The annual demand will reach USD 21.5 billion in 2032, which is almost 4 times the demand in 2025.
• During 2025-2032, the carbon capture, utilization, and storage industry is expected to generate a cumulative sales opportunity of USD 93.6 billion, which is almost 6 times the opportunities during 2019-2024.

High-Growth Market Segments: 

• North America is expected to be the fastest-growing region over the forecasted period.
• By service type, Capture segment is anticipated to experience more growth in the future.
• By technology type, Solvents & Sorbents segment is anticipated to hold the highest CAGR during the forecast period.
• By end-use type, Power Generation segment holds the largest market share during the forecast period.

Market Statistics 

Have a look at the sales opportunities presented by the carbon capture, utilization, and storage market in terms of growth and market forecast.

Market Dynamics

Introduction:

What is carbon capture, utilization, and storage?

Carbon Capture, Utilization, and Storage (CCUS) is an advanced climate mitigation technology that captures CO? emissions from point sources like power plants and industrial facilities or directly from the air. Captured CO? can be utilized in enhanced oil recovery, chemical production, or mineralization, or stored in geological formations such as depleted oil and gas reservoirs or deep saline aquifers. CCUS enhances decarbonization strategies, supports carbon neutrality targets, and is critical for hard-to-abate sectors like cement and steel.

Market Drivers: 

Regulatory Support and Climate Goals Driving the Market

• A key driver of the Carbon Capture, Utilization, and Storage (CCUS) market is the rising need to mitigate industrial carbon emissions amid continued reliance on fossil fuels for energy generation.
• CCUS enables the capture and secure storage or utilization of CO2 from major emission sources, supporting global climate goals. Increasing regulatory pressure and climate commitments, such as the U.S. target for 100% carbon-free electricity by 2030, are propelling CCUS adoption.
• Additionally, governments are offering tax incentives and policy support to encourage industries to deploy CCUS technologies and reduce their carbon footprint, further accelerating market growth.

Market Challenges: 

High Implementation Costs of the Technology

• A major challenge in the Carbon Capture, Utilization, and Storage (CCUS) market is the high capital and operational expenditure required for deployment.
• The cost-intensive nature of capturing, transporting, storing, and monitoring CO?, combined with limited revenue generation, makes adoption economically unviable for many industries.
• Additionally, retrofitting existing facilities often reduces process efficiency, further increasing costs. These financial and technical constraints significantly hinder the widespread implementation of CCUS technologies across key industrial sectors.

Market Opportunities: 

Advancements in Carbon Capture Technologies

• The continuous investment in the development of advanced carbon capture technologies presents a significant growth opportunity for the CCUS market.
• Ongoing R&D and demonstration projects are focused on enhancing cost efficiency, reducing the impact on power generation performance, and enabling large-scale deployment. Efforts to lower capture costs to below USD 30 per metric ton of CO? are gaining traction.
• These technological advancements are set to improve the economic viability of CCUS, creating opportunities for the wider adoption across global industrial sectors.

Segments' Analysis

By End Use Type

“Power Generation segment holds the largest market share during the forecast period.”

• With a revenue share of more than 69.0% in 2024, the power generation segment held the largest share.
• Due to high greenhouse gas emission rates, the potential of using carbon capture and storage technology is extremely high in coal-fired power plants.
• This is anticipated to lead to the growth of the power generation segment of the market in the coming years.

Regional Analysis

“North America is expected to be the fastest-growing region over the forecasted period.”

• North America, particularly the United States, has been at the forefront of CCUS technology development for over 35 years.
• The region hosts some of the most experienced companies and institutions in the field, resulting in advanced carbon capture and storage technologies. This long-standing expertise has positioned North America as a global leader in CCUS deployment.
• The growing public awareness of climate change and a shift in mindset toward cleaner energy sources are further driving CCUS adoption. This societal and industrial momentum is expected to sustain North America's leadership in the global CCUS market through the forecast period.

Competitive Landscape

Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the carbon capture, utilization, and storage market -  

• Royal Dutch Shell (Netherlands) 
• Fluor Corporation (US) 
• Mitsubishi Heavy Industries Ltd. (Japan) 
• Exxon Mobil Corporation (US) 
• Linde Plc (UK) 
• JGC Holdings (Japan) 
• Schlumberger Ltd (US) 
• Aker Solutions (Norway) 
• Honeywell International (US) 
• Equinor ASA (Norway)

Note: The above list does not necessarily include all the top players in the market.

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Recent Developments/Mergers & Acquisitions:

• In May 2025, Eni, the Italian energy group, entered exclusive negotiations to sell a 49.99% stake in its CCUS business to Global Infrastructure Partners (GIP), a part of BlackRock. This move aligns with Eni's strategy to expand its decarbonization ventures by creating satellite units and selling minority stakes to finance growth, while retaining capital for traditional oil and gas activities.
• In May 2024, Mitsubishi Heavy Industries Ltd collaborated with ArcelorMittal, MHI, and BHP to launch a pilot carbon capture unit at the Gent Steelmaking plant. The project aims to reduce CO2  emissions in steel production, aligning with the EU's objectives to achieve carbon neutrality by 2030. 

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation 

This report studies the market, covering a period of 15 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The global carbon capture, utilization, and storage market is segmented into the following categories. 

Global Carbon Capture, Utilization, and Storage Market, by Service Type

• Capture
• Transportation
• Utilization
• Storage

Global Carbon Capture, Utilization, and Storage Market, by Technology Type

• Chemical Looping
• Solvents & Sorbents
• Membranes

Global Carbon Capture, Utilization, and Storage Market, by End Use Type        

• Oil & Gas
• Power Generation
• Chemical & Petrochemical
• Cement
• Iron & Steel

Global Carbon Capture, Utilization, and Storage Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, Italy, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s global carbon capture, utilization, and storage market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 4.1 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across industries. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]