DELRAY BEACH, Fla., Sept. 9, 2025 /PRNewswire/ -- The report "Carbon Capture, Utilization, and Storage Market by Service (Capture, Utilization, Storage, Transportation), Technology (Chemical Looping, Solvents & Sorbents, Membranes), End-use Industry (Oil & Gas, Power Generation, Chemical & Petrochemical, Cement, Iron & Steel), and Region - Global Forecast to 2030", carbon capture, utilization, and storage market is projected to grow from USD 5.82 billion in 2025 to USD 17.75 billion by 2030, at a CAGR of 25.0% during the forecast period.
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347 - Tables
61 - Figures
317 - Pages
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Giant energy companies are teaming up to make carbon capture projects happen faster and cheaper. By sharing pipelines and storage sites, firms split big upfront costs and lower risks for everyone involved. In Norway, Equinor, Shell, and TotalEnergies built Northern Lights together so even smaller emitters can plug into a ready-made CO2 network. In the Netherlands, chemical and industrial giants teamed up on Porthos, funding and running one main pipeline under the North Sea. Bringing engineering specialists, technology providers, and government agencies into the mix smooths permitting, design, and financing, turning once-experimental ideas into full-scale operations.
In 2024, carbon capture service accounted for the highest share of the CCUS market in terms of value.
The carbon capture segment held the largest share in 2024 due to the fact that it is the initial and most vital process in the CCUS value chain and facilitates any following utilization or storage of CO2. It carries the greatest capital expenditure, complex engineering, and integration with the emission source like power plants, cement kilns, steel mills, and chemical plants, and hence it is the most profitable service area. With mounting regulatory pressure, net-zero pledges, and fiscal incentives, sectors focused on deploying capture systems to cut emissions straightaway, and broad take-up followed. Advances in technology like solvent-based, membrane, and adsorption technologies also widened deployment across a range of applications, strengthening capture's leadership market position.
In 2024, the chemical & petrochemical industry accounted for the third-largest share of the CCUS market in terms of value and volume.
The chemical and petrochemical sector ranks third in CCUS deployment because its manufacturing processes naturally produce concentrated CO2 streams, making capture equipment easier to integrate and more cost-effective. Refineries and chemical plants already separate heavy gases during operations, so retrofitting capture units requires only modest process adjustments. Once captured, CO2 can be sold for products like urea or methanol, or used in enhanced oil recovery, creating extra revenue that offsets project costs. With stricter emissions regulations and higher carbon prices, companies gain clear financial incentives to adopt capture solutions, and their deep engineering expertise ensures projects move from planning to operation without significant delays.
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Europe is projected to be the second fastest-growing regional market in the forecasted period in terms of value and volume.
Europe's CCUS market is booming, second only to North America, because the continent combines aggressive climate legislation with substantial public backing and collaborative infrastructure projects. The EU's Green Deal and its 2050 net-zero mandate force industries to find low-carbon solutions, while the Emissions Trading System raises the cost of unabated emissions. Governments have funneled billions into grants, tax credits, and innovation programs, de-risking early-stage developments. Cross-border ventures such as Northern Lights and Porthos share pipelines and storage sites, spreading costs and speeding timelines. Europe's dense industrial clusters, spanning power, cement, steel, and chemicals, provide ready customers close to injection hubs, further driving rapid uptake of capture, transport, and storage technologies.
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Key Players
Prominent companies 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).
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