Carbon Capture and Storage Market size to exceed $6bn by 2024

Carbon Capture and Storage Market size will surpass USD 6 billion by 2024, as reported in the latest study by Global Market Insights, Inc.

Growing carbon emissions on account of excessive fossil fuel combustion across industries will drive the carbon capture and storage market size. Stringent government regulations toward minimizing the greenhouse gas emissions coupled with growing demand for CCS technologies in order to meet the 20C scenario will positively enhance the business outlook. In addition, the growing preference over other counterparts owing to its ability to limit the emissions up to 85%-90% will augment the business landscape.


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The Middle East carbon capture and storage market will grow over 15% by 2024. Shifting focus toward adoption of sustainable technologies coupled with growing awareness pertaining to reduction of harmful emissions will complement the business outlook. The product is gaining attention amongst the industry players and are majorly deployed across the region with heavy industries. The captured CO2 is majorly used for enhanced oil recovery methods creating a significant economic value and growth prospects for the industry players.

Europe Carbon Capture and Storage Market Size, By Technology, 2016 & 2024 (USD Million)
Carbon Capture and Storage Market

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Increasing use of CO2 enhanced oil recovery technologies across the oil and gas industries to boost the hydrocarbon production will foster the business growth. Large volume of unrecovered oil coupled with growing number of mature fields will positively enhance the business outlook. However, lack of government policies and defined environment regulations coupled with high capital cost may act as a restraint for industry growth.

Browse key industry insights spread across 160 pages with 198 market data tables & 9 figures & charts from the report, “Carbon Capture and Storage Market Size By Technology (Pre Combustion, Post Combustion and Oxy-Fuel Combustion), By Application (Oil and Gas, Iron and Steel, Chemical Processing, Power Generation) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Norway, Germany, China, Australia, South Korea, UAE, Saudi Arabia), Competitive Market Share & Forecast, 2017 – 2024in detail along with the table of contents:

The Europe CCS market is set to grow on account of ongoing decarbonization targets coupled with government mandates to reduce the carbon and GHG emissions. The Norway holds the largest share across the region with large CO2 storage sites across the North Sea. Ongoing government investments along with stringent environment norms are stimulating the adoption of CCS solutions. In May 2018, the Norwegian government invested USD 34 million and approved the CCS project that will capture the emission of a waste to energy and a cement plant.

The carbon capture and storage market by iron and steel will grow over 3% by 2024. Growing emission from steel plants along with rising concerns toward global warming will accelerate the product adoption. For instance, the iron and steel plants in China is a major cause of growing CO2 emission where coking coal has over 75% of contribution.

Rapid industrialization along with robust deployments across cement, power plants and oil & gas industries will stimulate the business growth. Booming automobile sector along with robust investment toward infrastructural expansion will positively enhance the industry outlook. Furthermore, growing number of mature fields along with extensive use of enhanced oil recovery techniques will augment the business landscape.

Key players functioning across the carbon capture and storage industry include Dakota Gasification, Fluor, Sulzer, Schlumberger, Japan CCS Company, Aker Solution, Linde Engineering, Haliburton, Mitsubishi Heavy Industries, Exxon Mobil, NRG energy, Shell CANSOLV, General Electric and Siemens.

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Carbon capture and storage market research report includes in-depth coverage of the industry with estimates & forecast in terms of MTPA and USD Million from 2013 to 2024, for the following segments:

By technology

  • Post- combustion
  • Pre- combustion
  • Oxy fuel Combustion

By Application

  • Oil and Gas
  • Iron and Steel
  • Chemical
  • Power Generation

The above information is provided on a country basis for the following:

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Norway
    • Germany
  • Asia Pacific
    • China
    • Australia
    • South Korea
  • Middle East and Africa
    • UAE
    • Saudi Arabia


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