Market Size of Carbon Capture and Storage Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.32 Billion |
| Market Size (2029) | USD 3.84 Billion |
| CAGR (2024 - 2029) | 10.59 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Carbon Capture and Storage Market Analysis
The Carbon Capture and Storage Market size is estimated at USD 2.32 billion in 2024, and is expected to reach USD 3.84 billion by 2029, growing at a CAGR of 10.59% during the forecast period (2024-2029).
The effect of the Covid-19 pandemic on the market was moderate as the market is in the emerging/developing stage and was not affected severely due to the effect of the pandemic.
- The major factors driving the market studied are the emerging demand for CO2 injection techniques for enhanced oil recovery (EOR) and strict government norms towards GHG emissions.
- On the flip side, huge CCS technology implementation costs and increases in shale investments are expected to hinder the market's growth.
- Augmenting prominence for bioenergy carbon capture and storage (BECCS) is likely to be an opportunity in the future.
- The North American region is likely to dominate the market and is expected to remain at dominating position over the forecast period owing to increasing implementation of the technology majorly in the United States and Canada.
