Global Carbon Capture and Storage Market Size, Share, Growth Analysis, By Technology(Pre-combustion, Post-combustion), By Application(Enhanced Oil Recovery (EOR), Industrial Applications), By End-Use Industry(Power Generation, Oil & Gas) - Industry Forecast 2024-2031

North America held the largest revenue share in 2023, thus accounting for around 36.69% of the total revenue. This is attributable to the increased oil and gas industry demand and stringent government regulations to reduce carbon emissions. According to the global CCS institute, there are more than 24 facilities worldwide capturing CO2. Of these, 12 can be found in the US. Large industrial base and friendly regulatory structure North America is major player in global CCS sector. Installed capacity and project development determine the North American market leadership in global carbon capture and storage.

Asia Pacific is forecasted to see the highest accelerated growth rate regarding CCS market globally. The requesting market increasingly becomes industry, cities and energy demands in the countries such as China, India and South Korea, the utilization of CCS technology is growing more and requires for the range of carbon emission reduction. Governments with a range of carbon pricing mechanisms and clean energy targets drive investment in CCS technology, those that are power sector, industry and refinery driven. The CCS market in the Asia Pacific region is experiencing tremendous expansion in terms of CCS capacity and projects, resulting in the area becoming a stimulator for the overall development of the CCS market across the globe in the foreseeable future.