Carbon Capture, Utilization, and Storage Market Size

Carbon Capture, Utilization, and Storage Market Future Prospects

The global carbon capture, utilization, and storage market size is valued at USD 5.1 billion in 2024, and it is expected to advance at a CAGR of 23.3% during 2025–2030, to reach USD 18.0 billion by 2030.

The major factors accredited for the growth of the market include the growing focus on reducing carbon emissions along with government initiatives toward achieving carbon neutrality by 2050, and the rising demand for CO2-EOR techniques.

Additionally, advancements in pre- & post-combustion and oxy-fuel technologies and efforts to reduce their costs would offer long-term opportunities to the market. For instance, the U.S. Department of Energy is conducting research to lower the cost of precombustion carbon capture processes to USD 30 per tonne of the captured CO2. This would require not only making the equipment cost-effective but also in creasing the process efficiency, to yield affordability in the long run.

The growing popularity of voluntary carbon credit trading and the implementation of carbon credit trading compliance regulations could have further positive implications for the market. The fact that most emission trading schemes have not integrated the CCUS concept reflects at a massive potential opportunity in the market in the years to come.