Carbon Capture and Storage Market Size

Carbon Capture and Storage Market Size

The global carbon capture and storage market was valued at USD 8.8 billion in 2024 and is estimated to grow at a CAGR of 16.7% from 2025 to 2034. Expanding investments in various emission control technologies, alongside the increasing level of industrialization, are likely to generate considerable opportunities in the oil & gas, power generation and chemicals application sectors. Moreover, government policies directed towards the reduction of greenhouse gas emissions along with the implementation of tight regulatory restrictions will further improve the industry picture.

Increasing investments into the upstream and midstream sectors as well as increasing energy demand are set to increase the global carbon capture and storage (CCS) market for enhanced oil recovery (EOR) applications. The EOR method involves CO? injection that builds up reservoir pressure and pushes oil into the production wells, which will benefit the CCS industry considerably during the forecast period.