Carbon Capture and Storage Market to rise at a CAGR of 14.21% by 2030 | Exxon Mobil Corporation, Honeywell International LLC, Shell plc, Siemens Energy

The Carbon Capture and Storage (CCS) market is valued at USD 2.76 billion in 2025 and is projected to reach USD 5.37 billion by 2030, registering a CAGR of 14.21% during the forecast period.

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CCS technology plays a critical role in capturing up to 90% of carbon dioxide emissions from power generation and industrial processes, preventing harmful gases from entering the atmosphere. With governments tightening emission caps, expanding carbon pricing schemes, and offering tax incentives, CCS is shifting from pilot projects to large-scale commercial deployment. Heavy industries such as cement, steel, and chemicals-where emissions are unavoidable-are increasingly adopting CCS as a structural requirement to meet net-zero targets.

Carbon Capture and Storage Market Developing Trends

Rising Demand for CO2-Enhanced Oil Recovery (EOR)

Enhanced oil recovery projects are creating dual benefits: extending production from mature reservoirs while monetizing captured carbon. Oil majors are pairing industrial emitters with depleted fields, turning CCS hubs into profitable ventures. This approach reduces payback periods and accelerates infrastructure development in regions with established pipeline networks.

Expansion of Carbon Pricing and Emission Trading Schemes

Carbon markets are expanding globally, with mechanisms such as the EU's Carbon Border Adjustment and California's extended cap-and-trade program. These policies make CCS a compliance tool rather than a voluntary initiative. By raising the floor price for emissions abatement, they narrow the gap between capture costs and market incentives, encouraging wider adoption.

Stricter Net-Zero Legislation

Legally binding net-zero targets are pushing industries to adopt CCS. Countries like the UK and Germany are embedding CCS into industrial strategies, while Norway and the Netherlands are advancing shared infrastructure projects. Clearer liability and monitoring frameworks are reducing financial risks, making CCS investments more bankable.

Growth in Synthetic Fuel Projects

Aviation and shipping sectors are turning to synthetic fuels that require captured CO2 as feedstock. Airlines and maritime companies are signing agreements for sustainable fuels, creating new revenue streams for CCS operators. This trend strengthens the long-term demand for carbon capture beyond storage.

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Carbon Capture and Storage Segmentation

By Technology

Pre-Combustion Capture: Accounted for over 80% of market share in 2024, widely used in refineries and chemical complexes.
Oxy-Fuel Combustion Capture: Expected to grow at 18.51% CAGR through 2030, offering simplified CO2 separation and strong potential in cement plants.
Post-Combustion Capture: Continues to serve retrofitted power plants and industrial facilities.

By End-User Industry

Oil and Gas: Dominated with nearly 70% share in 2024, leveraging mature CO2-EOR systems.

Chemical Industry: Forecasted to grow at 25.76% CAGR between 2025-2030, driven by ammonia and methanol producers integrating CCS into hydrogen production.

Iron and Steel & Cement: Necessity users where process emissions cannot be avoided.

Coal and Biomass Power Plants: Continue to adopt CCS to meet emission standards.

By Geography

North America: Largest market with over 50% share in 2024, supported by generous tax credits and established infrastructure.

Europe: Fastest-growing region with 26.64% CAGR, backed by EU ETS, Norway's Longship project, and cross-border transport agreements.

Asia-Pacific: Long-term growth potential, led by China's neutrality pledge and Japan's CO2 shipping collaborations.

South America & Middle East/Africa: Emerging opportunities with Brazil, Saudi Arabia, and South Africa exploring CCS projects.

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Carbon Capture and Storage Companies

>Air Liquide
>Aker Solutions
>Baker Hughes
>Carbon Clean
>CF Industries Holdings, Inc.
>Climeworks
>Dakota Gasification Company
>ENEOS Xplora Inc.
>Equinor ASA
>Exxon Mobil Corporation
>Fluor Corporation
>General Electric Company
>Halliburton
>Honeywell International LLC
>Linde plc
>Mitsubishi Heavy Industries, Ltd.
>Occidental Petroleum Corporation
>Shell plc
>Siemens Energy
>SLB Capturi
>Svante Technologies Inc.
>TotalEnergies

Conclusion:

The Carbon Capture and Storage market is set to play a decisive role in global climate strategies. With industrial sectors facing unavoidable emissions, CCS provides a practical pathway to meet net-zero obligations. Supportive government policies, expanding carbon markets, and growing demand from synthetic fuel projects are expected to sustain strong growth through 2030.

While high capital and operating costs remain challenges, the combination of tax incentives, shared infrastructure, and private investment is improving project economics. As CCS technologies mature and scale, the market will transition from niche applications to mainstream industrial practice.

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