Carbon Capture and Storage (CCS) Market Size Worth USD 7.64 Billion by 2034 | CAGR: 7.5%

The carbon capture and storage market size is expected to reach USD 7.64 billion by 2034, according to a new study by Polaris Market Research. The report “Carbon Capture and Storage (CCS) Market Size, Share, Trends, Industry Analysis Report By Capture Type (Pre-Combustion, Industrial Separation), By Application, By Region– Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Carbon capture and storage can be defined as the process that traps the carbon dioxide gas at the emission source, and then transports it to a storage location, isolating it. The storage location in most cases is underground. The process guarantees greener energy by capturing the excess carbon dioxide (CO2).

Private sector commitment to environmental, social, and governance (ESG) standards is playing a significant role in CCS market expansion. Many global companies are setting ambitious net-zero or carbon-neutral goals and view CCS as a strategic tool to meet them. Industries with limited decarbonization options are particularly reliant on CCS. Investor pressure and customer expectations around sustainability are further driving corporate action. Consequently, CCS is being integrated into long-term ESG strategies, spurring demand from companies looking to reduce emissions while maintaining economic competitiveness, thereby driving the carbon capture and storage market growth.

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The continuous rise in carbon dioxide emissions due to increased industrial activity, power generation, and transportation has become a major environmental concern. Governments and environmental organizations are pushing for urgent action to limit global warming. CCS technology offers a practical solution by capturing CO₂ at the source before it reaches the atmosphere. The demand for CCS is growing rapidly as countries strive to meet international climate targets such as the Paris Agreement. Industries see CCS as a viable way to continue operations while minimizing environmental impact, driving widespread adoption across sectors such as cement, steel, and energy.

Carbon Capture and Storage (CCS) Market Report Highlights

• In 2024, the pre-combustion segment accounted for xx% share due to its high efficiency and early integration into power generation and industrial systems.
• The industrial segment is expected to experience significant growth during the forecast period, driven by increasing measures to decarbonize hard-to-abate sectors such as cement, steel, and chemical manufacturing.
• The market in North America accounted significant share in 2024, due to strong government support, established infrastructure, and early adoption of carbon reduction strategies.
• The industry in the U.S. is expected to register a significant CAGR during the forecast period, driven by federal incentives, energy security goals, and strong climate policies.
• The Asia Pacific industry is projected to record significant growth by 2034, fueled by rapid industrialization and increasing pressure to curb emissions from sectors such as cement, steel, and energy.
• A few global key market players are Aker Solutions; Dakota Gasification Company; Fluor; HTC CO2 Systems Corp.; Japan CCS Co., Ltd.; Linde Engineering India Pvt. Ltd; Maersk Oil; Mitsubishi Heavy Industries; Shell CANSOLV; Siemens AG; Statoil; and Sulzer.

Polaris Market Research has segmented the carbon capture and storage market report based on capture type, application, and region:

By Capture Type (Revenue - USD Billion, 2020–2034)

• Pre-Combustion
• Industrial Separation
• Oxyfuel-Combustion
• Post-Combustion

By Application (Revenue - USD Billion, 2020–2034)

• Enhanced Oil Recovery
• Industrial
• Agriculture
• Others

By Regional Outlook (Revenue - USD Billion, 2020–2034)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa