Global Carbon Capture, Utilization, and Storage (CCUS) Market at 11.2% CAGR to Touch USD 12 Billion by 2031

Published | 20 January 2025

Global Carbon Capture, Utilization, and Storage (CCUS) Market is booming primarily due to an increasing focus on meeting stringent emissions regulations, advancements in technology, and governments’ supportive incentives.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Carbon Capture, Utilization, and Storage (CCUS) Market size by value at USD 5.6 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Global Carbon Capture, Utilization, and Storage (CCUS) Market size to boom at a robust CAGR of 11.20% reaching a value of USD 11.8 billion by 2031. The growth of Global Carbon Capture, Utilization, and Storage (CCUS) Market is driven by increasing government regulations to reduce carbon emissions, rising investments in clean energy technologies, and growing industrial efforts to achieve net-zero emissions. Expanding applications in enhanced oil recovery (EOR), rising adoption in power generation and chemical industries, and technological advancements in carbon capture methods further boost the market growth. Additionally, the emergence of public-private partnerships and increasing incentives are expected to support the development of large-scale CCUS projects globally.

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Opportunity – Climate Change Mitigation Goals

Global Carbon Capture, Utilization, and Storage (CCUS) Market is driven by stringent climate change mitigation goals set by international agreements like the Paris Accord. Governments and industries are adopting CCUS technologies to achieve net-zero carbon emissions targets. The rising emphasis on reducing industrial CO₂ emissions, particularly in power generation, cement, and steel sectors, further boosts CCUS deployment. Additionally, supportive policies, tax incentives, and funding for research and development enhance the feasibility and adoption of CCUS solutions globally.

Post-Combustion Technology Dominates Global CCUS Market

The post-combustion segment accounts for the largest market share of Global Carbon Capture, Utilization, and Storage (CCUS) Market by technology. Post-combustion technology is favored for its compatibility with existing power plants and industrial facilities. The technology uses chemical solvents to separate CO₂ from flue gases, making it suitable for industries like power generation and cement production. Advancements in solvent technologies have improved their efficiency and cost-effectiveness, making it crucial for achieving global carbon reduction goals.

Impact of Escalating Geopolitical Tensions on Global Carbon Capture, Utilization, and Storage (CCUS) Market 

Escalating geopolitical tensions could disrupt the growth of Global Carbon Capture, Utilization, and Storage (CCUS) Market by affecting supply chains, inflating costs, and delaying project timelines. Energy security concerns could shift priorities towards fossil fuels, while tensions could accelerate government policies to mitigate climate risks and reduce reliance on imported energy.

Competitive Landscape

Global Carbon Capture, Utilization, and Storage (CCUS) Market is highly fragmented, with numerous players serving the market. Major companies dominating the market include Aker Carbon Capture, Honeywell International, Carbon Clean, C-capture Ltd, CarbonFree, Carbon8 Systems, Chart Industries, Capsol Technologies AS, Carbon America, Occidental Petroleum Corporation, and Exxon Mobil Corporation. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge over their competitors in Global Carbon Capture, Utilization, and Storage (CCUS) Market.

Don’t miss the business opportunity in Global Carbon Capture, Utilization, and Storage (CCUS) Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and Global Carbon Capture, Utilization, and Storage (CCUS) Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Carbon Capture, Utilization, and Storage (CCUS) Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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