PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1811750
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1811750
The carbon capture, utilization, and storage (CCUS) market is estimated at USD 5.82 billion in 2025 and is projected to reach USD 17.75 billion by 2030, at a CAGR of 25.0%. Capture services account for the largest share of the CCUS market since capturing CO2 is the most challenging, capital-intensive, and essential step in the value chain, the primary gateway anywhere that leads to utilization or storage activity. This demand formulation, being the costliest segment, requires heavy investments in specialized systems and technologies, such as post-combustion, pre-combustion, and oxy-fuel, not to mention its integration into existing industrial processes.
Scope of the Report | |
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Years Considered for the Study | 2021-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million) and Volume (Kiloton) |
Segments | Service, Technology, End-use Industry, and Region |
Regions covered | Europe, North America, Asia Pacific, the Middle East & Africa, and South America |
That is how capture services themselves generate the highest revenues for the CCUS sectors, and since there is no capture, the subsequent stages in CCUS cannot commence; therefore, demand is generated by such industries as power generation, cement, steel, and chemicals seeking to meet emissions targets, regulations, and attain low-carbon labels.
"Chemical loop is projected to be the fastest-growing form during the forecast period."
Chemical looping is the fastest growing technology that, through the improved energy efficiency and low operation cost in comparison to conventional capture processes, utilizes metal oxides to shuttle oxygen for fuel combustion and thus inherently separates CO2 without using solvent regeneration, which is very expensive. This is the reason why the technologies maintain a lower energy penalty; allow the integration of various fuels (such as coal, natural gas, and biomass); and are even enticing in cases where they can co-produce some of the valuable outputs like hydrogen for both power and industrial applications. The propensity for dramatic growth witnessed in R&D and pilot-to-commercial scale demonstrations, as well as its ability to meet stringent decarbonization goals, catalyzes its global adoption.
"The power generation segment is projected to register the second-highest growth rate during the forecast period."
The power generation segment is the second fastest-growing end-use sector in the CCUS market due to coal and gas-fired plants being large global CO2 sources and best candidates for retrofitting with capture equipment to comply with tightening climate policies and net-zero targets. Several governments provide significant incentives, tax credits, and funding schemes for decarbonizing electricity generation, whereas utilities are making investments in CCUS to keep existing assets viable and facilitate low-carbon baseload power together with renewables. Moreover, large-scale utilization of CCUS within power facilities delivers instantaneous, high-level emission cuts, promoting quick uptake compared to slower-developing industrial sources.
"Europe is projected to register the second-highest growth rate in the CCUS market during the forecast period."
Europe is anticipated to record the second-highest CAGR within the CCUS market by virtue of its aggressive climate policies, such as the EU Green Deal and legally binding 2050 net-zero targets, which are urging massive deployment of carbon capture initiatives in the power, cement, steel, and chemical sectors. The area is favored by robust state support, carbon pricing in the EU Emissions Trading System, and cooperative cross-border projects such as the Northern Lights and Porthos ventures that combine capture, transport, and storage facilities. Europe's established industrial base, supportive regulatory landscape, and low-carbon innovation focus provide a fertile breeding ground for explosive CCUS expansion.
Prominent companies in this market include Fluor Corporation (US), Exxon Mobil Corporation (US), Linde plc (UK), Shell Plc. (UK), Mitsubishi Heavy Industries, Ltd. (Japan), JGC Holdings Corporation (Japan), Schlumberger Limited (US), Aker Solutions (Norway), Honeywell International (US), Equinor ASA (Norway), TotalEnergies SE (France), Hitachi Ltd (Japan), Siemens AG (Germany), GE Vernova (US), and Halliburton (US).
Research Coverage
This research report categorizes the CCUS market by service (capture, utilization, storage, transportation), technology (chemical looping, solvents & sorbents, membranes, others), end-use industry (oil & gas, power generation, chemical & petrochemical, cement, iron & steel, other end-use industries), and region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America). The scope of the report includes detailed information about the major factors influencing the growth of the CCUS market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted to provide insights into their business overview, solutions and services, key strategies, and recent developments in the CCUS market. This report includes a competitive analysis of upcoming startups in the CCUS market ecosystem.
Reasons to buy this report
The report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall CCUS market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.