Carbon Capture and Sequestration Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Carbon Capture and Sequestration Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Carbon Capture and Sequestration Market


The carbon capture and sequestration market size was valued at USD 2.69 billion in 2023, and the market is now projected to grow from USD 3.54 billion in 2024 to USD 14.51 billion by 2032, exhibiting a CAGR of 19.29% during the forecast period of 2024-2032.

The COVID-19 pandemic created significant restraints for the market due to the economic slowdown which led to a decrease in industrial activity. Supply chain disruptions further reduced the demand, impeding the CCS infrastructure. With the increased focus on a clean and sustainable environment, there was a rise in support for CCS. The delays in government funding impeded the rise of carbon capture and sequestration market growth.

The stringent policies are focused on stabilizing climate change and reducing carbon emissions for short and long-term periods that helps in monitoring greenhouse emissions from power generation industries, and fuel the mitigation of carbon footprint, resulting in the expansion of carbon capture and sequestration market share globally. These policies create a positive outlook for the market.

Additionally, various market players are collaborating to complete large-scale CCS facilities. This will commercialize the technology. These collaborations help gather significant capital expenditure for construction and operational projects.

Comprehensive Analysis of Carbon Capture and Sequestration Market

The carbon capture and sequestration market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the CCS industry. These segmentations are methodically segregated by end-use and by capture source. The end-use segment is dedicated storage & treatment and enhanced oil recovery (EOR). However, the capture source include, chemicals, natural gas processing, power generation, fertilizers production, and others.

The North America region leads the carbon capture and sequestration market by benefitting a market size of USD 1.42 billion in 2030 due to the increased investments in research and development and additional funding from the government.

The top players in the market play a crucial role in the CCS industry assuring industrial prospectus growth and setting market standards. These players include, Fluor Corporation (U.S), Carbon Engineering Ltd (Canada), ADNOC Group (UAE), Dakota Glassification Company (U.S), Aker Solutions (Norway), Exxonmobil (U.S), Shell (Netherlands), BP (U.K), Chevron (U.S), Linde Plc (Ireland), Total Energies (France), NRG Energy (U.S), and China National Petroleum Corporation (China). These market players provide a level-playing competitive landscape.

July 2023: Fluor Corporation has announced an agreement with Fegerative Co-Operatives Limited’s (FCL) to secure a license to implement and examine Econamine FG PlusSM, a carbon capture technology. This partnership features an investment of USD 2 billion for the development of an agricultural complex.

Segmentation Table

Attribute Details

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 19.29% from 2024 to 2032

UnitValue (USD Billion) and Volume (MTPA)

Segmentation By Capture Source, End-Use, and Region

Segmentation By Capture Source

Chemicals

Natural Gas Processing

Power Generation

Fertilizers Production

Others

By End-Use

Enhanced Oil Recovery (EOR)

Dedicated Storage & Treatment

By Country

North America (By Capture Source, End-Use, and Country)

-U.S. (By End-Use)

-Canada (By End-Use)

Europe (By Capture Source, End-Use, and Country)

-Germany (By End-Use)

-France (By End-Use)

-U.K. (By End-Use)

-Spain (By End-Use)

-Norway (By End-Use)

-Rest of Europe (By End-Use)

Asia Pacific (By Capture Source, End-Use, and Country)

-China (By End-Use)

-India (By End-Use)

-Japan (By End-Use)

-Australia (By End-Use)

-Rest of Asia Pacific (By End-Use)

Latin America (By Capture Source, End-Use, and Country)

-Brazil (By End-Use)

-Rest of Latin America (By End-Use)

Middle East & Africa (By Capture Source, End-Use, and Country)

-GCC (By End-Use)

-Rest of the Middle East & Africa (By End-Use)