Carbon Capture & Sequestration (CCS) Market to Grow at 13.5% CAGR by 2031 | North America Leads with 36% Share | Driven by Linde, Mitsubishi Heavy Industries & Shell CANSOLV

The Global Carbon Capture and Sequestration (CCS) Market is projected to grow at a CAGR of 13.5 percent during 2024-2031, supported by rising global focus on decarbonization, clean energy transition and large-scale adoption of carbon‐neutral industrial processes. Carbon capture and sequestration technologies play a critical role in mitigating emissions from hard-to-abate sectors by capturing CO2 at the source, transporting it and permanently storing it in deep geological formations. CCS solutions are increasingly integrated across industrial operations to help countries and corporations meet net-zero targets.

Market growth is driven by expanding government incentives, growing investment in low-carbon technologies, and rising adoption of CCS across fertilizer production, chemical manufacturing, hydrogen production, natural gas processing and power generation. According to the Global CCS Institute, 24 CO2 capture and injection facilities were operational in 2020, with 12 in the United States. These facilities either sequester CO2 in deep underground reservoirs or utilize it for enhanced oil recovery (EOR) to increase output from mature oil fields. Continued expansion of planned CCS facilities worldwide, along with stronger regulatory support for emissions reduction, is expected to accelerate deployment across both developed and emerging markets.

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The Carbon Capture and Sequestration (CCS) Market involves technologies and systems that capture CO2 emissions from industrial and power generation sources and securely store or utilize them to reduce carbon footprints and support climate mitigation efforts.

Key Developments

United States
✅ October 2025: ExxonMobil expanded its CCS portfolio by securing the largest offshore CO2 storage lease in Texas waters and completing its first CO2 injection well to boost national CO2 storage capacity.

✅ August 2025: 1PointFive (Occidental Petroleum) advanced commercialization of both point-source and direct-air-capture (DAC) CCS systems, enabling large emitters to adopt carbon management at scale.

✅ May 2025: U.S. industries adopted "carbon-capture-as-a-service" models, including beverage and manufacturing facilities, allowing companies to pay per ton of CO2 captured without upfront infrastructure costs.

Global
✅ June 2025: Shell Catalysts & Technologies and Technip Energies launched a global alliance to deliver standardized post-combustion CCS systems for industrial plants, accelerating worldwide CCS deployment.

✅ April 2025: Europe increased CCS project approvals by integrating modular capture units suitable for smaller emitters such as food processing and mid-sized industrial plants.

✅ February 2025: Global CCS innovation accelerated through new sorbent materials, CO2-to-fuels technologies, and large-scale sequestration hubs, supported by rising climate-finance investments.

Mergers & Acquisitions

United States
✅ September 2025: A major U.S. CCS equipment supplier formed a strategic partnership with a leading energy company to co-develop advanced capture systems for industrial emitters.

Global
✅ August 2025: A global investment fund acquired nearly 50% of a major European CCS operator, strengthening financial backing for large-scale CO2 transport and storage projects.

✅ March 2025: An international collaboration was established between a global oil major and an engineering firm to jointly commercialize scalable CCS solutions for power, cement, and chemical industries.

Key Players

Linde AG | Carbfix | Fluor Corporation | Climeworks | Mitsubishi Heavy Industries | General Electric (GE) | NET Power | Siemens | Global Thermostat | Shell CANSOLV

Key Highlights

• Linde AG - Holds an estimated 12.5% share of the global CCUS market, driven by its advanced CO2 capture technologies, strong industrial gas infrastructure, and large-scale deployment across chemical and energy sectors.

• Carbfix - Accounts for around 5.2% share, recognized for its innovative mineralization-based carbon storage approach, especially in Europe and Iceland, supporting rapid adoption of permanent CO2 sequestration.

• Fluor Corporation - Maintains approximately 10.1% share, backed by its well-established Econamine FG PlusSM technology and long-term deployment in large industrial CO2 capture projects.

• Climeworks - Represents 7.4% share, driven by its leadership in direct air capture (DAC) technology, large-scale plants in Europe, and strong corporate carbon-removal partnerships.

• Mitsubishi Heavy Industries (MHI) - Holds about 11.3% share, powered by its advanced KM CDR ProcessTM and global portfolio of large post-combustion capture systems.

• General Electric (GE) - Accounts for 6.8% share, supported by integration of CCUS systems into power plants, gas turbines optimized for lower emissions, and emerging partnerships in clean-energy projects.

• NET Power - Represents 3.6% share, known for its innovative Allam-Fetvedt cycle that captures nearly 100% of CO2 from natural gas power generation.

• Siemens - Holds an estimated 8.4% share, driven by its expertise in process automation, energy systems integration, and low-carbon industrial solutions supporting CCUS adoption.

• Global Thermostat - Maintains 4.9% share, recognized for its modular direct air capture technologies and projects focused on carbon removal for industrial and energy applications.

• Shell CANSOLV - Accounts for 10.8% share, supported by its proven amine-based CO2 capture systems, strong O&G sector deployment, and integrated CCUS solutions worldwide.

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Market Drivers

- Rising global focus on reducing greenhouse gas emissions to meet net-zero targets and climate commitments.

- Increasing deployment of CCS technologies by heavy industries such as cement, steel, chemicals, and power generation to curb CO2 output.

- Growing investments in large-scale carbon capture hubs and industrial clusters to accelerate decarbonization.

- Expansion of government incentives, tax credits (such as the U.S. 45Q), and regulatory mandates supporting CCS adoption.

- Rapid growth of carbon capture in enhanced oil recovery (EOR) applications to boost oil production while reducing emissions.

- Technological advancements improving capture efficiency, reducing operational costs, and enabling scalable carbon storage solutions.

- Increasing integration of CCS with hydrogen production, particularly blue hydrogen, to support clean energy transitions.

Industry Developments

- Launch of next-generation modular and flexible capture systems enabling cost-effective deployment across industrial sites.

- Expansion of global CCS pipeline infrastructure, including CO2 transport networks and offshore storage facilities.

- Strategic partnerships between energy companies, technology providers, and governments to accelerate commercial CCS projects.

- Growing adoption of direct air capture (DAC) technologies with large-scale demonstration plants underway.

- Investments in carbon mineralization and long-term geological storage technologies to enhance storage reliability.

- Development of integrated CCS and clean hydrogen hubs to support industrial decarbonization at regional levels.

- Advancements in monitoring, reporting, and verification (MRV) tools for accurate tracking of captured and stored CO2.

Regional Insights

North America - 36% driven by "strong policy incentives, large-scale CCS project pipelines, and rising adoption of carbon capture in power and industrial sectors."

Europe - 30% supported by "strict emission reduction mandates, major CCS hubs in the UK and Norway, and significant investments in CO2 transport and storage networks."

Asia Pacific - 26% fueled by "rapid industrialization, government-backed low-carbon initiatives, and increasing CCS deployment in China, Australia, and South Korea."

Latin America - 5% driven by "growing interest in CCS for industrial decarbonization, emerging EOR projects, and supportive clean energy policies."

Middle East & Africa - 3% supported by "expansion of CO2-EOR operations, national net-zero programs, and large-scale CCS investments by major energy producers."

Key Segments

➥ By Service
Capture involves separating CO2 from industrial processes or power generation using advanced technologies that enhance efficiency, reduce emissions, and support large-scale decarbonization across heavy industries.

Pre-Combustion capture extracts CO2 before fuel combustion by gasifying fossil fuels, enabling lower-carbon energy generation and supporting integrated gasification combined cycle (IGCC) systems with improved cost efficiency.

Oxy-fuel combustion uses pure oxygen instead of air, producing a CO2-rich exhaust that simplifies capture, increases thermal efficiency, and reduces pollutants, making it ideal for retrofitting existing plants.

Post-Combustion capture removes CO2 from flue gases after fuel combustion using solvents, membranes, or sorbents, offering the most widely adopted and flexible solution for existing industrial and power facilities.

Transportation services move captured CO2 through pipelines, ships, or tankers to designated storage or utilization sites, ensuring safety, efficiency, and scalable logistics for regional carbon management networks.

Storage involves injecting CO2 deep underground into geological formations such as depleted oil fields or saline aquifers, providing long-term, secure sequestration that supports global net-zero commitments.

➥ By End-User
Oil and Gas uses carbon capture and storage (CCS) for enhanced oil recovery (EOR), emissions reduction, and decarbonization of refineries and processing operations, accelerating the transition to low-carbon energy.

Power Plants adopt CCS to reduce CO2 emissions from coal, gas, and biomass-based electricity generation, supporting cleaner energy production and compliance with global climate regulations.

Mining integrates CCS to cut emissions from ore processing, mineral refining, and energy-intensive extraction operations while enhancing sustainability across mining value chains.

Iron and Steel deploy CCS to mitigate emissions from blast furnaces and direct reduced iron (DRI) processes, addressing one of the most carbon-intensive industrial sectors.

Chemical Industry implements CCS in ammonia, hydrogen, ethylene, and methanol production to significantly lower process-related CO2 emissions and meet net-zero manufacturing goals.

Cement Industry relies heavily on CCS since process emissions are unavoidable during clinker production, making capture and storage essential for deep decarbonization of cement manufacturing.

Agriculture applies CCS technologies through bioenergy with carbon capture (BECCS), biogas plants, and carbon-smart farming practices to reduce methane and CO2 emissions across the value chain.

Others include waste management, paper and pulp, and manufacturing sectors where CCS helps reduce industrial carbon footprints and align operations with sustainability mandates.

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