Carbon Capture Utilization And Storage Market

Carbon Capture, Utilization, and Storage Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032
Frequently asked questions about this report

The carbon capture, utilization, and storage market was estimated to be US$ 2.36 Billion in 2022.

The carbon capture, utilization, and storage market is estimated to exhibit a CAGR of 15.6% from 2023 to 2032.

The demand for cleaner energy sources is increasing due to growing concerns over the environmental impact of traditional energy sources, while investment in CCUS research and development is driving advancements in the technology and the growth of the carbon capture, utilization, and storage market.

North America is the largest carbon capture, utilization, and storage market, owing to the presence of large numbers of carbon capture and storage projects in the region, as well as strong government support for CCUS technology.

The fastest growing segment of the CCUS market based on technology is Direct Air Capture. This technology is in its early stages of development, but is growing rapidly due to increasing investment in research and development and growing demand for low-carbon solutions.

Some of the leading companies in the global carbon capture, utilization, and storage market are Royal Dutch Shell, Fluor Corporation, Mitsubishi Heavy Industries, Ltd., Exxon Mobil Corporation, and Linde Plc, JGC Holdings, Schlumberger Ltd, Aker Solutions, Honeywell International, Equinor ASA, and many more.

The largest segment is the capture segment owing to the increasing number of large-scale power plants and industrial facilities that require carbon capture systems to reduce their carbon dioxide emissions.