The Global Carbon Capture, Utilization, and Storage (CCUS) Market is analyzed in this report across technology type, capture source, storage type, end use industry, and region, highlighting major trends and growth forecasts for each segment.

Introduction

The Global Carbon Capture, Utilization, and Storage (CCUS) Market is rapidly emerging as a cornerstone in the global push for decarbonization. These technologies enable the extraction of carbon dioxide (CO₂) from industrial activities, power generation, and even ambient air. Captured CO₂ can either be securely stored in geological formations or repurposed into value-added products such as fuels, chemicals, and building materials. As climate targets become more ambitious and carbon pricing frameworks expand, CCUS is increasingly recognized not merely as a mitigation tool but as a critical pathway to achieving net zero especially in hard to abate sectors.

The market is poised for robust expansion, projected to grow from approximately USD 4.3 billion in 2024 to USD 25.3 billion by 2030, representing a compound annual growth rate (CAGR) of 24.5%. This momentum is driven by rising commitments to carbon neutrality, increased capital flows into low carbon innovation, and supportive regulatory environments. In this context, CCUS is solidifying its role as a foundational technology in the global transition to a low carbon economy.

Market Dynamics

The global CCUS market is gaining significant traction, propelled by mounting climate pressures, tightening emissions regulations, and the need for scalable decarbonization pathways. A key catalyst is the growing alignment between public and private sectors around net zero targets, supported by the expansion of carbon pricing mechanisms and emissions trading systems. Technological advancements in capture efficiency and storage security are further accelerating adoption, particularly in emissions intensive sectors like cement, steel, chemicals, and fossil fueled power.

Commercial interest is also expanding due to the economic potential of CO₂ utilization. Captured carbon is increasingly being converted into synthetic fuels, sustainable concrete, and industrial chemicals, reinforcing the shift toward circular carbon models. Simultaneously, investment is flowing into cross border CO₂ transport infrastructure and the development of regional CCUS hubs especially in regions with favorable geology and regulatory incentives. This has led to deepening international collaboration, notably in Europe, North America, and Asia Pacific, where integrated CCUS supply chains are taking shape.

The market is being further reshaped by innovation in both technology and business models. Modular capture units are gaining momentum, while AI and digital twin platforms are being deployed to enhance real time monitoring and system optimization. New service based models such as carbon management as a service are also emerging. Companies like Aker Carbon Capture are pioneering modular offerings for industrial emitters, and ExxonMobil is scaling up carbon hubs with integrated digital oversight. Meanwhile, the growth of voluntary and compliance based carbon credit markets, alongside green finance mechanisms, is making large scale CCUS projects increasingly bankable. As climate action accelerates and low carbon technologies mature, CCUS is evolving into a vital bridge between legacy infrastructure and net zero ambitions.

Segment Highlights and Performance Overview

By Technology Type: 

Post combustion capture leads the technology segment, accounting for approximately 45% of the global market. Its compatibility with existing industrial and power generation facilities makes it a practical and scalable solution for retrofitting legacy infrastructure. As regulatory pressure intensifies, the cost efficiency and adaptability of post combustion technology are driving its widespread adoption.

By Capture Source: 

Industrial point sources represent the largest share of the capture source segment, contributing around 50% to the market. This is fueled by the urgent need to decarbonize high emission sectors such as steel, cement, and petrochemicals where alternatives like electrification remain technically complex and economically challenging.

By Storage Type:

Depleted oil and gas fields dominate the storage segment, accounting for roughly 60% of the market. These formations are favored for their well characterized geology, pre-existing infrastructure, and proven capability to store CO₂ securely over the long term, making them ideal for large scale commercial deployment.

By End Use Industry:

The oil and gas industry leads the end use segment with nearly 60% market share. This reflects its dual role as both a major emitter and an early adopter of CCUS technologies. The sector is leveraging CCUS to reduce operational emissions, advance blue hydrogen production, and extend reservoir life through CO₂ enhanced oil recovery (EOR), reinforcing its central role in the energy transition.

Geographical Analysis

The Global Carbon Capture, Utilization, and Storage (CCUS) Market is examined across key regions, including North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa.

North America currently holds the largest share of the global CCUS market, estimated between 37.5% and 45.8% in 2024. This leadership is supported by mature energy infrastructure, favorable policy incentives such as the U.S. 45Q tax credit and a high concentration of commercial scale projects. The availability of depleted oil and gas fields further enhances the region’s storage potential. Continued collaboration among government bodies, energy companies, and technology providers is fostering innovation and expanding deployment across power and industrial sectors.

Asia Pacific is expected to register the highest CAGR, projected at approximately 13.9% through 2030. This surge is driven by escalating industrial emissions, increasing climate commitments, and an influx of public and private investment. Countries including China, India, and Australia are launching pilot programs, updating policy frameworks, and building CCUS infrastructure as part of broader sustainability agendas. The region’s strategic focus on industrial decarbonization and energy security is positioning it as a key growth hub in the global CCUS market.

Competition Landscape

The global CCUS market is shaped by the active participation of major energy firms, emerging technology innovators, and industrial solution providers. Leading players are focused on advancing capture and storage technologies, executing large scale projects, and forming strategic partnerships to reinforce their competitive positions. The market is also being accelerated by government-led initiatives, cross-sector collaborations, and increased R&D investments aimed at scaling and commercializing cost effective CCUS solutions.

Prominent companies operating in the CCUS market include Mitsubishi Heavy Industries, Toshiba Energy Systems, Equinor, TotalEnergies, Aker Carbon Capture, Air Liquide, Shell Canada, SaskPower, Carbon Engineering, Enhance Energy, ExxonMobil, Chevron, Carbon Clean, Petrobras, and Aramco. These players are driving technological innovation, expanding global project footprints, and shaping the strategic direction of the industry through a combination of commercial execution and policy engagement.

Recent Developments

• February 2025 – SLB Capturi, a joint venture between Aker Carbon Capture and SLB, completed the mechanical construction of the world’s first full scale carbon capture facility at Heidelberg Materials’ Brevik cement plant in Norway. This milestone demonstrates the commercial and technical viability of CCUS in emissions intensive sectors. The project is expected to catalyze further investment and deployment of CCUS across Europe and beyond.

• June 2024 – MHI Compressor Corporation introduced major upgrades to its CO₂ compression systems, including the CO₂MPACT series. These innovations enhance the efficiency, scalability, and cost effectiveness of critical CCUS infrastructure. The improved system performance is enabling broader adoption across industrial decarbonization projects worldwide, reinforcing MHI’s role in accelerating the carbon neutral transition.

Segmentation included in the report:

By Technology Type:

• Post Combustion Capture
• Pre Combustion Capture
• Oxy Fuel Combustion Capture
• Direct Air Capture (DAC)
• Others

By Capture Source:

• Industrial Point Sources
• Fossil Fuel Power Plants
• Others

By Storage Type:

• Depleted Oil & Gas Fields
• Deep Saline Aquifers
• Unmineable Coal Seams

By End Use Industry:

• Power Generation
• Oil & Gas
• Chemical & Petrochemical
• Cement & Steel Industry
• Others

Companies:

• Mitsubishi Heavy Industries
• Toshiba Energy Systems
• Equinor
• TotalEnergies 
• Aker Carbon Capture
• Air Liquide
• Shell Canada
• SaskPower
• Carbon Engineering
• Enhance Energy
• ExxonMobil 
• Chevron
• Carbon Clean
• Petrobras
• Aramco