The carbon capture, utilization, and storage (CCUS) market is projected to grow from USD 5.82 billion in 2025 to USD 17.75 billion by 2030, at a CAGR of 25.0% during the forecast period. The reports 2025 research report offers an analytical view of the industry by studying different factors like carbon capture, utilization, and storage (CCUS) market growth, consumption volume, Market Size, Revenue, Market Share, Market Trends, and industry cost structures during the forecast period from 2025 to 2030.

Giant energy companies are teaming up to make carbon capture projects happen faster and cheaper. By sharing pipelines and storage sites, firms split big upfront costs and lower risks for everyone involved. In Norway, Equinor, Shell, and TotalEnergies built Northern Lights together so even smaller emitters can plug into a ready-made CO2 network. In the Netherlands, chemical and industrial giants teamed up on Porthos, funding and running one main pipeline under the North Sea. Bringing engineering specialists, technology providers, and government agencies into the mix smooths permitting, design, and financing, turning once-experimental ideas into full-scale operations.

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In 2024, carbon capture service accounted for the highest share of the CCUS market in terms of value.

The carbon capture segment held the largest share in 2024 due to the fact that it is the initial and most vital process in the CCUS value chain and facilitates any following utilization or storage of CO2. It carries the greatest capital expenditure, complex engineering, and integration with the emission source like power plants, cement kilns, steel mills, and chemical plants, and hence it is the most profitable service area. With mounting regulatory pressure, net-zero pledges, and fiscal incentives, sectors focused on deploying capture systems to cut emissions straightaway, and broad take-up followed. Advances in technology like solvent-based, membrane, and adsorption technologies also widened deployment across a range of applications, strengthening capture’s leadership market position.

In 2024, the chemical & petrochemical industry accounted for the third-largest share of the CCUS market in terms of value and volume.

The chemical and petrochemical sector ranks third in CCUS deployment because its manufacturing processes naturally produce concentrated CO2 streams, making capture equipment easier to integrate and more cost-effective. Refineries and chemical plants already separate heavy gases during operations, so retrofitting capture units requires only modest process adjustments. Once captured, CO2 can be sold for products like urea or methanol, or used in enhanced oil recovery, creating extra revenue that offsets project costs. With stricter emissions regulations and higher carbon prices, companies gain clear financial incentives to adopt capture solutions, and their deep engineering expertise ensures projects move from planning to operation without significant delays.

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Europe is projected to be the second fastest-growing regional market in the forecasted period in terms of value and volume.

Europe’s CCUS market is booming, second only to North America, because the continent combines aggressive climate legislation with substantial public backing and collaborative infrastructure projects. The EU’s Green Deal and its 2050 net-zero mandate force industries to find low-carbon solutions, while the Emissions Trading System raises the cost of unabated emissions. Governments have funneled billions into grants, tax credits, and innovation programs, de-risking early-stage developments. Cross-border ventures such as Northern Lights and Porthos share pipelines and storage sites, spreading costs and speeding timelines. Europe’s dense industrial clusters, spanning power, cement, steel, and chemicals, provide ready customers close to injection hubs, further driving rapid uptake of capture, transport, and storage technologies.

Carbon Capture, Utilization, and Storage Companies

Prominent companies include Fluor Corporation (US), Exxon Mobil Corporation (US), Linde plc (UK), Shell Plc. (UK), Mitsubishi Heavy Industries, Ltd. (Japan), JGC Holdings Corporation (Japan), Schlumberger Limited (US), Aker Solutions (Norway), Honeywell International (US), Equinor ASA (Norway), TotalEnergies SE (France), Hitachi Ltd (Japan), Siemens AG (Germany), GE Vernova (US), and Halliburton (US).

Equinor ASA (Norway)

Equinor ASA operates as a dominant force within the global CCUS market, leveraging nearly three decades of offshore CO2 storage expertise gained through the pioneering Sleipner project, which began operations in 1996 and has successfully stored over 19 million tonnes of CO2. The Norwegian energy company spearheads the world’s first commercial cross-border CO2 transport infrastructure through Northern Lights, a joint venture with Shell and TotalEnergies. Equinor maintains multiple projects spanning Norway, Denmark, the UK, and the US.

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Shell plc (UK)

Shell plc, headquartered in London, UK, traces its origins to 1907 when Royal Dutch Petroleum Company merged with Shell Transport and Trading Company. The British multinational energy giant leads carbon capture markets through strategic partnerships and ambitious projects spanning multiple continents. Shell maintains equal ownership stakes in Northern Lights alongside Equinor and TotalEnergies. In Canada, Shell operates the Quest CCS facility at Scotford, while developing the Polaris project to capture 650,000 tonnes (716,502.35 tons) yearly and the Atlas Carbon Storage Hub for permanent underground storage. Shell’s global CCUS portfolio includes projects across Australia’s Gorgon facility, Singapore’s S-Hub consortium with ExxonMobil targeting 2.5 million tonnes (2.75 million tons) capacity, and various initiatives throughout Asia Pacific, demonstrating the company’s commitment to scaling carbon management technologies across hard-to-abate industrial sectors.

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