Press release
Competitive Overview: Market Leaders And Emerging Players In The Carbon Dioxide Energy Storage (CES) Technology Market
Carbon Dioxide Energy Storage CES Technology
Projected Market Value and Growth Prospects of the Carbon Dioxide Energy Storage Technology Market
The CES technology market is expected to grow rapidly, reaching a market size of $7.79 billion by 2029. This expansion is forecasted at a compound annual growth rate (CAGR) of 11.0%. Several factors are driving this growth, including rising investments in clean energy infrastructure, improvements in carbon capture efficiency, growing adoption of circular carbon economy principles, stricter government policies targeting carbon neutrality, and an increasing demand for reliable off-grid energy solutions. Key trends anticipated during this period involve advancements in carbon dioxide-based energy storage systems, high-efficiency turbomachinery innovations, hybrid renewable-storage models, carbon dioxide thermodynamic cycle research, and partnerships aimed at scaling up pilot and commercial projects.
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Top Companies Leading the Carbon Dioxide Energy Storage Technology Market
The market features several prominent players who are advancing CES technologies. These include British Petroleum America, Chevron Corporation, Badische Anilin And Soda-Fabrik Societas Europaea, Siemens Energy AG, Schlumberger Limited, The Linde Group, Mitsubishi Heavy Industries Ltd., Baker Hughes Company, Halliburton Company, National Thermal Power Corporation Limited, Air Products and Chemicals Inc., Aker Solutions ASA, China International Marine Containers Enric Holdings Limited, Triveni Turbine Limited, Axens SA, Prometheus Fuels Inc., Greenlyte Carbon Technologies Inc., Echogen Power Systems LLC, Energy Dome S.p.A., and Zenthos Energy Inc.
Collaborations Accelerating CO2 Battery Technology Development
In October 2023, German engineering firm MAN Energy Solutions SE partnered with Italy-based Energy Dome to develop and implement CO2 Battery long-duration energy storage technology. This collaboration aims to merge MAN's turbomachinery expertise with Energy Dome's innovative CO2 Battery system to fast-track scalable and durable grid energy storage solutions. Energy Dome specializes in carbon dioxide-based energy storage, a form of long-duration energy storage (LDES) capable of storing energy efficiently for extended periods.
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Emerging Innovations and Long-Duration Storage Solutions in the CES Market
Industry leaders are increasingly focusing on creating long-duration electrical energy storage solutions to improve grid stability and facilitate renewable energy integration. These systems are designed to store large amounts of electricity and discharge it reliably over several hours or days, balancing supply and demand effectively. For example, in January 2025, National Thermal Power Corporation Limited (NTPC) in India launched an advanced CO2 battery project at its Kudgi Super Thermal Power Station in Karnataka. This project, developed in partnership with Triveni Turbine Limited and Energy Dome, features a 160 MWh capacity CO2 Battery designed for long-term grid-scale energy storage. The system boasts a life span exceeding 25 years, operates without critical minerals like lithium or cobalt, and uses a closed Brayton thermodynamic cycle with anhydrous CO2 to achieve full depth of discharge with minimal efficiency loss relative to traditional batteries.
Key Segments Fueling Growth in the Carbon Dioxide Energy Storage Technology Market
This report segments the CES technology market into several categories for thorough analysis:
1) By Types: Carbon Capture and Storage (CCS), Carbon Capture and Utilization (CCU), Carbon Capture and Conversion (CCC)
2) By Technology: Compressed Air Energy Storage, Thermochemical Energy Storage, Chemical Energy Storage, Phase Change Material Storage
3) By Storage Medium: Solid, Liquid, Gas
4) By Application: Power Generation, Industrial sectors, Oil and Gas, Transportation, Building, Agriculture, and Other applications
Further classification includes:
- Carbon Capture and Storage methods like Geological Storage, Ocean Storage, Mineral Carbonation, and Deep Saline Aquifers
- Carbon Capture and Utilization subcategories such as Enhanced Oil Recovery, Chemical Feedstocks, Fuel Production, and Building Materials
- Carbon Capture and Conversion processes including Methanol Synthesis, Dimethyl Ether Synthesis, Formic Acid Production, and Polymer Production
Together, these segments highlight the diverse technologies and applications driving innovation and adoption in the CES technology market.
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