Carbon Capture, Utilization, and Storage Market Report and Forecast 2025-2034

The global carbon capture, utilization, and storage market size reached approximately USD 3.53 Billion in 2024. The market is assessed to grow at a CAGR of 14.20% between 2025 and 2034 to attain a value of around USD 13.32 Billion by 2034.

Key Trends in the Market

Carbon capture, utilization, and storage, also known as CCUS, refers to a process that captures CO2 emissions and stores them for reutilization. Carbon dioxide emissions are typically captured from sources like coal-fired power plants. CCUS plays an integral role in reducing greenhouse gas emissions and driving the development of a sustainable future.

  • Some of the key carbon capture, utilization, and storage market trends include the rising focus on decarbonisation, the surging attempts to produce low-carbon electricity, and growing concerns regarding energy shortages. CCUS can reduce emissions in hard-to-abate sectors like cement and enhance the flexibility and diversity of energy supply to improve energy security.
  • The introduction of various initiatives by governments globally to drive sustainable growth, reduce dependency on fossil fuels, and achieve net-zero emissions is favouring the market growth. Moreover, the increasing deployment of CCUS technology to convert captured CO2 to value-added products such as building materials, chemicals, green urea, and bioplastics is anticipated to aid the carbon capture, utilization, and storage market growth in the coming years.
  • There is an increasing focus on enhancing the affordability and functionality of carbon capture, utilization, and storage technology to boost its deployment in different sectors such as cement and oil and gas. Besides, the increasing adoption of digitisation by key players to facilitate various processes such as process automation, flow surveillance, and predictive maintenance, among others, is likely to favour the carbon capture, utilization, and storage market in the coming years.
Market Segmentation

The EMR’s report titled “Carbon Capture, Utilization, and Storage Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Service
  • Capture
  • Transportation
  • Utilization
  • Storage
Market Breakup by Technology
  • Pre-combustion
  • Oxy-combustion
  • Post-combustion
Market Breakup by End Use
  • Oil and Gas
  • Power Generation
  • Iron and Steel
  • Chemical and Petrochemical
  • Cement
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Share by End Use

As per the carbon capture, utilization, and storage market analysis, the oil and gas sector accounts for a substantial market share as it extensively generates highly concentrated CO2 streams. The technology is applied by oil and gas companies to convert greenhouse gases into natural gas formations, enhance ethanol production, and generate low-carbon hydrogen fuels.

With various governments introducing stringent regulations to reduce carbon emissions from industrial applications, the deployment of CCUS technology in the oil and gas sector is expected to rise in the coming years.

Market Share by Region

North America represents a significant carbon capture, utilization, and storage market share due to the rising focus on reducing greenhouse gas emissions and the increasing number of CCUS projects in the United States. Increasing investments in R&D activities in the region aimed at reducing carbon capturing costs, developing efficient alternatives to carbon, and advancing monitoring of CCUS facilities are expected to aid the market in the forecast period.

Meanwhile, the market in Europe is also witnessing a healthy growth amid growing investments in clean energy solutions. The introduction of favourable initiatives by the EU and other governments to surge the deployment of CCUS technology for decarbonising the region and driving green economic growth is anticipated to fuel the overall carbon capture, utilization, and storage market expansion in upcoming years.

Competitive Landscape

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global carbon capture, utilization, and storage market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

Linde plc

Linde plc is a prominent engineering and industrial gas company that aims to drive decarbonisation and sustainability through its innovative services, solutions, and technologies. Some of the sectors served by the company include mining, healthcare, and manufacturing. Its innovative technologies and industrial gases are used in the production of carbon capture systems and clean hydrogen, among others.

Equinor ASA

Equinor ASA is a global energy company and a leading oil and gas operator based in Norway. With a wide presence in nearly 30 countries in the world, the company intends to drive energy transition and become a net-zero company by 2050.

Schlumberger Limited

Schlumberger Limited, established in 1878, is a technology company that aims to fuel decarbonisation by using science and innovative technologies. The company has footprints in over 100 countries and is actively engaged in scaling and developing energy systems that can boost sustainability.

Other carbon capture, utilization, and storage market players include Mitsubishi Heavy Industries, Ltd., Shell International Limited, Exxon Mobil Corporation, Honeywell International Inc., Aker Solutions ASA, JGC Holdings Corporation, and Dakota Gasification Company, among others.


1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global Carbon Capture, Utilization, and Storage Market Analysis
5.1 Key Industry Highlights
5.2 Global Carbon Capture, Utilization, and Storage Historical Market (2018-2024)
5.3 Global Carbon Capture, Utilization, and Storage Market Forecast (2025-2034)
5.4 Global Carbon Capture, Utilization, and Storage Market by Service
5.4.1 Capture
5.4.1.1 Historical Trend (2018-2024)
5.4.1.2 Forecast Trend (2025-2034)
5.4.2 Transportation
5.4.2.1 Historical Trend (2018-2024)
5.4.2.2 Forecast Trend (2025-2034)
5.4.3 Utilization
5.4.3.1 Historical Trend (2018-2024)
5.4.3.2 Forecast Trend (2025-2034)
5.4.4 Storage
5.4.4.1 Historical Trend (2018-2024)
5.4.4.2 Forecast Trend (2025-2034)
5.5 Global Carbon Capture, Utilization, and Storage Market by Technology
5.5.1 Pre-combustion
5.5.1.1 Historical Trend (2018-2024)
5.5.1.2 Forecast Trend (2025-2034)
5.5.2 Oxy-combustion
5.5.2.1 Historical Trend (2018-2024)
5.5.2.2 Forecast Trend (2025-2034)
5.5.3 Post-combustion
5.5.3.1 Historical Trend (2018-2024)
5.5.3.2 Forecast Trend (2025-2034)
5.6 Global Carbon Capture, Utilization, and Storage Market by End Use
5.6.1 Oil and Gas
5.6.1.1 Historical Trend (2018-2024)
5.6.1.2 Forecast Trend (2025-2034)
5.6.2 Power Generation
5.6.2.1 Historical Trend (2018-2024)
5.6.2.2 Forecast Trend (2025-2034)
5.6.3 Iron and Steel
5.6.3.1 Historical Trend (2018-2024)
5.6.3.2 Forecast Trend (2025-2034)
5.6.4 Chemical and Petrochemical
5.6.4.1 Historical Trend (2018-2024)
5.6.4.2 Forecast Trend (2025-2034)
5.6.5 Cement
5.6.5.1 Historical Trend (2018-2024)
5.6.5.2 Forecast Trend (2025-2034)
5.6.6 Others
5.7 Global Carbon Capture, Utilization, and Storage Market by Region
5.7.1 North America
5.7.1.1 Historical Trend (2018-2024)
5.7.1.2 Forecast Trend (2025-2034)
5.7.2 Europe
5.7.2.1 Historical Trend (2018-2024)
5.7.2.2 Forecast Trend (2025-2034)
5.7.3 Asia Pacific
5.7.3.1 Historical Trend (2018-2024)
5.7.3.2 Forecast Trend (2025-2034)
5.7.4 Latin America
5.7.4.1 Historical Trend (2018-2024)
5.7.4.2 Forecast Trend (2025-2034)
5.7.5 Middle East and Africa
5.7.5.1 Historical Trend (2018-2024)
5.7.5.2 Forecast Trend (2025-2034)
6 North America Carbon Capture, Utilization, and Storage Market Analysis
6.1 United States of America
6.1.1 Historical Trend (2018-2024)
6.1.2 Forecast Trend (2025-2034)
6.2 Canada
6.2.1 Historical Trend (2018-2024)
6.2.2 Forecast Trend (2025-2034)
7 Europe Carbon Capture, Utilization, and Storage Market Analysis
7.1 United Kingdom
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Germany
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 France
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
7.4 Italy
7.4.1 Historical Trend (2018-2024)
7.4.2 Forecast Trend (2025-2034)
7.5 Others
8 Asia Pacific Carbon Capture, Utilization, and Storage Market Analysis
8.1 China
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Japan
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 India
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
8.4 ASEAN
8.4.1 Historical Trend (2018-2024)
8.4.2 Forecast Trend (2025-2034)
8.5 Australia
8.5.1 Historical Trend (2018-2024)
8.5.2 Forecast Trend (2025-2034)
8.6 Others
9 Latin America Carbon Capture, Utilization, and Storage Market Analysis
9.1 Brazil
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Argentina
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 Mexico
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
9.4 Others
10 Middle East and Africa Carbon Capture, Utilization, and Storage Market Analysis
10.1 Saudi Arabia
10.1.1 Historical Trend (2018-2024)
10.1.2 Forecast Trend (2025-2034)
10.2 United Arab Emirates
10.2.1 Historical Trend (2018-2024)
10.2.2 Forecast Trend (2025-2034)
10.3 Nigeria
10.3.1 Historical Trend (2018-2024)
10.3.2 Forecast Trend (2025-2034)
10.4 South Africa
10.4.1 Historical Trend (2018-2024)
10.4.2 Forecast Trend (2025-2034)
10.5 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyer’s Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Competitive Landscape
12.1 Supplier Selection
12.2 Key Global Players
12.3 Key Regional Players
12.4 Key Player Strategies
12.5 Company Profiles
12.5.1 Mitsubishi Heavy Industries, Ltd.
12.5.1.1 Company Overview
12.5.1.2 Product Portfolio
12.5.1.3 Demographic Reach and Achievements
12.5.1.4 Certifications
12.5.2 Shell International Limited
12.5.2.1 Company Overview
12.5.2.2 Product Portfolio
12.5.2.3 Demographic Reach and Achievements
12.5.2.4 Certifications
12.5.3 Exxon Mobil Corporation
12.5.3.1 Company Overview
12.5.3.2 Product Portfolio
12.5.3.3 Demographic Reach and Achievements
12.5.3.4 Certifications
12.5.4 Honeywell International Inc.
12.5.4.1 Company Overview
12.5.4.2 Product Portfolio
12.5.4.3 Demographic Reach and Achievements
12.5.4.4 Certifications
12.5.5 Linde plc
12.5.5.1 Company Overview
12.5.5.2 Product Portfolio
12.5.5.3 Demographic Reach and Achievements
12.5.5.4 Certifications
12.5.6 Aker Solutions ASA
12.5.6.1 Company Overview
12.5.6.2 Product Portfolio
12.5.6.3 Demographic Reach and Achievements
12.5.6.4 Certifications
12.5.7 JGC Holdings Corporation
12.5.7.1 Company Overview
12.5.7.2 Product Portfolio
12.5.7.3 Demographic Reach and Achievements
12.5.7.4 Certifications
12.5.8 Schlumberger Limited
12.5.8.1 Company Overview
12.5.8.2 Product Portfolio
12.5.8.3 Demographic Reach and Achievements
12.5.8.4 Certifications
12.5.9 Equinor ASA
12.5.9.1 Company Overview
12.5.9.2 Product Portfolio
12.5.9.3 Demographic Reach and Achievements
12.5.9.4 Certifications
12.5.10 Dakota Gasification Company
12.5.10.1 Company Overview
12.5.10.2 Product Portfolio
12.5.10.3 Demographic Reach and Achievements
12.5.10.4 Certifications
12.5.11 Others

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