The global carbon capture, utilization, and storage (CCUS) market is experiencing rapid growth, driven by net-zero goals, government tax credits, and high demand in heavy industries (steel, cement). Key trends include increased investments in Direct Air Capture (DAC), storage hubs, and CO2-EOR techniques.
Chicago, Jan. 30, 2026 (GLOBE NEWSWIRE) — According to recent data from Astute Analytica, the global carbon capture, utilization, and storage (CCUS) market was valued at US$ 3.5 billion in 2023 and is projected to hit the market valuation of US$ 51.6 billion by 2050 at a CAGR of 10.49% during the forecast period 2024–2050.
Carbon Capture, Utilization, and Storage (CCUS) has rapidly emerged as a vital technology in the global effort to combat climate change and reduce greenhouse gas emissions. As governments and industries worldwide grapple with the urgent need to lower carbon footprints, CCUS offers a promising solution by capturing carbon dioxide emissions before they enter the atmosphere, then either utilizing or securely storing them. Its growing prominence underscores its potential to play a central role in meeting international climate targets and steering the planet toward a more sustainable future.
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Carbon Capture, Utilization, and Storage (CCUS) has rapidly emerged as a vital technology in the global effort to combat climate change and reduce greenhouse gas emissions. As governments and industries worldwide grapple with the urgent need to lower carbon footprints, CCUS offers a promising solution by capturing carbon dioxide emissions before they enter the atmosphere, then either utilizing or securely storing them. Its growing prominence underscores its potential to play a central role in meeting international climate targets and steering the planet toward a more sustainable future.
Global Policy Momentum: Governments Driving CCUS Development
Government interventions and policies have become indispensable in shaping the trajectory of the Carbon Capture, Utilization, and Storage (CCUS) market. By 2023, more than 30 countries had enacted policies or frameworks specifically targeting CCUS initiatives, demonstrating a unified global commitment to combating carbon emissions.
The United States has emerged as a dominant leader in the CCUS space, largely due to its robust government support. The Inflation Reduction Act allocated a substantial $3.5 billion to enhance CCUS capabilities nationwide, signaling a strong federal commitment to advancing carbon capture technologies. This funding is designed to spur innovation, expand infrastructure, and reduce costs, helping the U.S. solidify its position at the forefront of CCUS development.
Emerging Synergies: Carbon Capture Meets Renewable Energy
A compelling new trend in the Carbon Capture, Utilization, and Storage (CCUS) market is the integration of carbon capture technologies with renewable energy sources. As of 2023, over 100 carbon capture projects worldwide are actively exploring ways to marry these two domains. The primary objective is to reduce carbon emissions significantly while maintaining, or even enhancing, energy efficiency.
One of the most exciting developments within this trend is the capture and utilization of CO2 to produce synthetic fuels, particularly using solar energy as the power source. This approach is gaining traction rapidly, with pilot projects in Germany demonstrating the feasibility and scalability of the concept. These installations can produce up to 500,000 liters of synthetic fuel annually by harnessing solar energy to convert captured carbon dioxide into usable fuels.
Australia exemplifies innovation by integrating wind turbine energy with carbon capture processes in a project designed to handle over one million metric tons of CO2 annually. This fusion of wind power with CCUS technologies showcases how renewable energy can directly support carbon capture operations, enhancing their sustainability and reducing reliance on fossil-fuel-based electricity.
Fossil Fuels: The Dual Force Driving the CCUS Market
Fossil fuels dominate the Carbon Capture, Utilization, and Storage (CCUS) market, shaping both the demand and supply sides of this rapidly evolving industry. In 2023, the fossil fuels segment accounted for over 45.01% of the total revenue share, underscoring its critical role in the carbon capture ecosystem. This dominance is rooted in the sector’s significant contribution to global CO2 emissions, making it a focal point for carbon capture strategies.
Power plants, alongside other industrial facilities, stand out as the largest emitters of CO2, positioning them at the center of carbon capture efforts. These facilities produce concentrated streams of carbon dioxide, which are ideal for capture and storage technologies. As a result, they represent the greatest opportunities for deploying CCUS at scale.
CCUS development offers a promising pathway to integrate and manage the vast, established fossil fuel energy infrastructure while simultaneously reducing carbon emissions. Instead of dismantling or replacing existing power plants and industrial setups, CCUS allows these facilities to operate more sustainably by capturing and securely storing CO2 before it reaches the atmosphere.
Oil and Gas Industry: A Cornerstone of the CCUS Market
The oil and gas industry holds a pivotal position within the Carbon Capture, Utilization, and Storage (CCUS) market, driven by its extensive infrastructure, significant financial resources, and longstanding experience managing carbon dioxide emissions. In 2023, this sector commanded over 32.16% of the CCUS market share, underscoring its critical role in advancing carbon capture technologies.
As one of the largest sources of carbon emissions, the oil and gas industry faces increasing legal and regulatory pressures to curb its environmental impact. The necessity to capture carbon is not only a matter of corporate responsibility but also a requirement to comply with stringent environmental standards imposed worldwide. In 2023 alone, the industry was responsible for capturing approximately 500 million metric tons of CO2 globally.
A significant advantage of the oil and gas sector in scaling CCUS projects lies in its well-established infrastructure, including vast networks of pipelines and underground reservoirs. Utilizing these existing assets dramatically reduces the capital expenditure and operational costs associated with launching CCUS initiatives compared to other industries starting from scratch.
North America’s Commanding Lead in the CCUS Market
North America, and in particular the United States, stands at the forefront of the global Carbon Capture, Utilization, and Storage (CCUS) market, commanding nearly 40% of the worldwide market share. This leadership is the result of years of pioneering technological development combined with a robust and supportive policy framework. The U.S. has consistently invested in advancing CCUS technologies, making it a global hub for innovation and large-scale deployment.
A key driver behind the U.S.’s CCUS market dominance is the strong incentive provided by the federal government, most notably through the 45Q Tax Credit. This policy offers up to approximately $50 per ton of CO2 sequestered, providing a powerful financial motivation for companies to invest in carbon capture initiatives. The policy’s effectiveness is reflected in the surge of private sector investments, with over $3 billion poured into new CCUS projects in recent months alone.
The region’s well-established oil and gas industry has played a significant role in optimizing the use of CCUS technology, particularly through enhanced oil recovery (EOR) techniques. By injecting captured CO2 into oil reservoirs, companies can improve extraction rates while simultaneously sequestering large volumes of carbon dioxide. This synergy has resulted in the capture of over 25 million tons of CO2 annually in North America, showcasing a practical application of CCUS that benefits both climate goals and energy production.
Top Players in Carbon Capture, Utilization, and Storage Market
- Air company
- Air products & chemicals
- Aker Solutions
- Azolla
- Blue planet
- Carbon Clean
- CGG SA
- Chevron
- Dakota Gasification Company
- Equinor
- Exxon Mobil Corporation
- Global Thermostat
- JGC Holdings Corporation
- Kiverdi Inc.
- LanzaTech
- Linde Plc
- Mitsubishi Heavy Industries, Ltd.
- Net power
- RWE AG
- Saipam
- Schlumberger Limited,
- Shell Plc
- Other Prominent Players
Market Segmentation Overview:
By Services
- Capture
- Transport
- Storage
- Usage/Utilization
By Carbon Capture Source
- Capture
- Transport
- Storage
- Usage/Utilization
By Process
- Post-Combustion
- Pre-Combustion
- Oxy-Fuel Combustion
By Technology
- Industrial-Point-Source CCUS
- Direct Air Capture (DAC)
- Bioenergy With Carbon Capture & Storage (BECCS)
By Usage Destination
- Aromatic polyurethane
- Indoor gardening
- Bioplastic
- SAF
- Astaxanthin
- Fine protein (food)
- Blast furnace carbon source
- Aromatic polycarbonate
- Algae biomass fuel
- Polyhydroxyurethane
By Industry
- Power Generation
-
- Biomass
-
- Geothermal
-
- Hydrogen
-
- Solar
-
- Others
- Waste Treatment Plant
-
- Sewage Treatment
-
- Commercial Waste Treatment
-
- Industrial Waste Treatment
-
- Municipal Solid Waste
-
- Others Waster Treatment
- Cement
- Oil & Gas
- Iron & Steel
- Chemical & Petrochemical
- Other Industries
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
For more information about this report visit: https://www.astuteanalytica.com/industry-report/carbon-capture-utilization-and-storage-market
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CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@astuteanalytica.com Website: https://www.astuteanalytica.com/
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