United States Carbon Capture & Storage Market to Grow at 15.95% CAGR, Driven by Climate Policies and Industrial Decarbonization | DataM Intelligence

The global Carbon Capture & Storage Market is growing at a CAGR of 15.95% during the forecast period 2024-2031, according to DataM Intelligence.

United States: Recent Industry Developments

✅ In October 2025, ExxonMobil announced a $7 billion investment to expand its CCS operations along the Gulf Coast, targeting 50 million tons of annual CO2 storage capacity.
✅ In October 2025, the US Department of Energy launched the Carbon Negative Shot initiative, aiming to reduce CCS costs to under $100 per ton by 2035.
✅ In October 2025, A consortium of US utilities deployed the world's largest direct air capture facility in Texas, capable of removing 1 million tons of CO2 annually.

Japan: Recent Industry Developments

✅ In October 2025, Mitsubishi Heavy Industries commissioned a new carbon capture system at a Japanese power plant, achieving 95% capture efficiency.
✅ In October 2025, Japan's Ministry of Economy allocated $3 billion for CCS infrastructure development as part of its 2050 carbon neutrality roadmap.
✅ In October 2025, J-POWER and IHI Corporation demonstrated a novel chemical absorption technology that reduces energy consumption by 30%.

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Market Trends & Drivers

The Carbon Capture & Storage Market is experiencing accelerated growth driven by stringent climate policies, corporate net-zero commitments, and technological advancements in capture efficiency. Key trends include the development of modular capture systems, expansion of CO2 utilization pathways, and integration with hydrogen production. The increasing carbon pricing mechanisms, government incentives like the US 45Q tax credit, and growing industrial decarbonization efforts are significantly propelling market expansion across power generation and hard-to-abate sectors.

Competitive Landscape

The market features strong competition among energy majors, industrial gas companies, and specialized technology providers.

ExxonMobil Corporation leads with multiple large-scale CCS projects and extensive CO2 storage expertise from enhanced oil recovery operations.
Shell PLC advances its CCS portfolio through global projects and technology partnerships, targeting 25 million tons annually by 2035.
Chevron Corporation focuses on CCS as a key decarbonization strategy, developing hubs in Australia and the US Gulf Coast.
Schlumberger New Energy provides integrated CCS solutions including capture, transportation, and storage services.
Air Products and Chemicals Inc. implements large-scale CCS in its hydrogen production facilities and offers capture technology to third parties.
Mitsubishi Heavy Industries Ltd. supplies advanced capture systems globally and develops ammonia-based CO2 capture technology.
Linde PLC offers carbon capture solutions for industrial applications and operates several large-scale CCS facilities.
Aker Solutions specializes in offshore CO2 storage and provides engineering services for CCS projects worldwide.
Baker Hughes Company develops capture technologies and provides monitoring solutions for CO2 storage sites.
Carbon Engineering Ltd. pioneers direct air capture technology and develops commercial-scale facilities.

Segmentation

By Capture Technology (Pre-Combustion Capture, Post-Combustion Capture, Oxyfuel Combustion, Industrial Separation)
By Storage Technology (Enhanced Oil Recovery, Geological Storage, Deep Ocean)
By End-Use Industry (Power Generation, Oil & Gas, Chemicals, Fertilizers, Cement & Concrete, Steel, Textiles, Others)

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Regional Analysis:

⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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✅ Sustainability Impact Analysis
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✅ Consumer Behavior & Demand Analysis
✅ Import-Export Data Monitoring
✅ Live Market & Pricing Trends

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