PUBLISHER: Grand View Research | PRODUCT CODE: 1869940
PUBLISHER: Grand View Research | PRODUCT CODE: 1869940
The global carbon capture and storage market size was estimated at approximately USD 3,681.24 million in 2024 and is projected to reach USD 6,719.31 million by 2033, growing at a CAGR of 7.0% from 2025 to 2033. The rising global focus on decarbonization, stringent emission reduction mandates, and increasing investments in carbon mitigation technologies across industrial and power generation sectors drives the market's expansion.
CCS systems, encompassing carbon capture, transportation, utilization, and storage, play a vital role in reducing CO2 emissions from energy-intensive industries such as cement, steel, and oil & gas. Continuous technological advancements in capture efficiency, coupled with growing deployment of carbon utilization projects and enhanced oil recovery applications, are further accelerating adoption.
Moreover, supportive government policies, tax incentives, and funding for large-scale demonstration projects are enhancing market development, positioning CCS as a critical enabler in achieving long-term net-zero and climate sustainability goals.
Global Carbon Capture And Storage Market Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For the purpose of this study, Grand View Research has segmented the global carbon capture and storage market report on the basis of capture technology, application, and region.