Carbon Capture, Utilization and Storage Market Size, Share, Growth Analysis, By Services(Capture, Transportation, Utilization, and Storage), By Technology(Pre-combustion, Post-combustion, Oxy-combustion, and Industrial Process), By End-Use Industry(Oil & Gas, Power Generation, Chemicals & Petrochemicals, Cement), By Region - Industry Forecast 2024-2031

Carbon Capture, Utilization and Storage Market size was valued at USD 2.26 billion in 2022 and is expected to rise from USD 2.52 billion in 2023 to reach a value of USD 6.16 billion by 2031, at a CAGR of 11.8% during the forecast period (2024–2031).

The carbon capture and storage (CCS) market is highly competitive in nature, owing to the presence of several established players and new entrants competing to offer innovative solutions. The competitive landscape in the CCS market is characterized by mergers and acquisitions, partnerships, and collaborations among key players, as well as a focus on research and development of new technologies. Many of the key players in the market are multinational companies with significant resources and expertise in the energy sector, and they are using their scale and capabilities to drive innovation and growth in the CCS market. 'Shell ', 'ExxonMobil ', 'Chevron Corporation ', 'Total Energies ', 'BP ', 'Occidental Petroleum Corporation ', 'Sinopec ', 'Eni ', 'ConocoPhillips ', 'Equinor ', 'Air Products and Chemicals, Inc. ', 'Linde plc ', 'BASF SE ', 'Mitsubishi Heavy Industries ', 'Siemens Energy ', 'C-Capture ', 'Carbon Clean Solutions Limited ', 'Global Thermostat ', 'Svante Inc. ', 'Carbon Engineering'

North America held the largest revenue share in 2023, thus accounting for around 36.69% of the total revenue. This is attributable to the increased oil and gas industry demand and stringent government regulations to reduce carbon emissions. According to the global CCS institute, there are more than 24 facilities worldwide capturing CO2. Of these, 12 can be found in the US. Large industrial base and friendly regulatory structure North America is major player in global CCS sector. Installed capacity and project development determine the North American market leadership in global carbon capture and storage.