Carbon capture market seen topping $14 billion by 2030

The global carbon capture and storage market is projected to grow at a 15% CAGR and exceed $14 billion by 2030, according to The Business Research Company. Asia Pacific is expected to be the largest regional market, while pre-combustion technology is forecast to dominate the product mix.

Why it matters: - Carbon capture and storage is moving from a niche climate tool to a bigger part of the utilities and industrial decarbonization stack. - The market’s growth reflects pressure on heavy industry and power producers to cut emissions while keeping operations running. - The report also suggests CCS is becoming more commercial, not just policy-driven, as infrastructure and technology investments accelerate.

What happened: - The Business Research Company published a report on the carbon capture and storage market with a forecast through 2030. - The market is projected to surpass $14 billion by 2030 and grow at a 15% compound annual growth rate. - The report says the wider utilities market will reach $9,379 billion by 2030, making CCS about 0.2% of the total. - Asia Pacific is forecast to be the largest regional market by 2030, at $5.12 billion, up from $2.33 billion in 2025. - The United States is expected to be the largest national market by 2030, valued at $3.54 billion.

The details: - Pre-combustion is projected to be the largest technology segment in 2030, accounting for 46% of the market, or about $7 billion. - The report also segments the market into industrial process, post-combustion and oxy-combustion technologies. - CCS services covered in the report include capture, transportation, utilization and storage. - End users include oil and gas, coal and biomass power plants, iron and steel, chemicals and other industries. - The market’s growth is being supported by enhanced oil recovery, government subsidies and tax incentives, and demand from companies under net-zero pressure. - The report attributes roughly 2.5% annual growth to enhanced oil recovery use cases. - Government funding is expected to contribute about 2.4% annual growth. - Industrial demand for emissions-cutting technologies is projected to add about 2.3% annual growth. - The top 10 companies accounted for about 30% of revenue in 2025, which points to a moderately fragmented market. - Linde PLC, Air Liquide S.A. and Baker Hughes Company each held 4% share in 2025. - ExxonMobil Corporation, Schlumberger Limited, Honeywell International Inc. and Halliburton Company each held 3%. - Aker Solutions ASA and Mitsubishi Heavy Industries Ltd. each held 2%, while Siemens AG held 1%. - Verra introduced VM0049 in June 2024 under the Verified Carbon Standard framework for carbon capture and storage activities. - The methodology is designed to improve carbon credit verification and emissions tracking for direct air capture and industrial processes. - The report says its 2026 edition adds market attractiveness scoring, TAM analysis, company scoring matrix graphics, Excel forecasting dashboards, market hotspots infographics and updated tables. - The company describes its report output as informed by primary and secondary sources and notes that estimates and opinions are not definitive facts or investment advice.

Between the lines: - CCS demand is being pulled by both compliance and economics, especially where carbon capture can connect to revenue through enhanced oil recovery. - The regional outlook suggests Asia Pacific is becoming a center for new industrial decarbonization buildout, not just a market for imported technology. - The concentration data shows no single company dominates, leaving room for project specialists, equipment suppliers and infrastructure players to compete. - The emphasis on verification standards and AI-enabled monitoring signals that measurement and compliance are becoming as important as capture hardware.

What's next: - The report expects continued investment in capture technologies, storage infrastructure and transportation networks. - Companies are likely to keep forming partnerships around carbon capture hubs and large-scale project deployment. - Policy support, carbon pricing and net-zero commitments are expected to remain key drivers through 2030. - More attention may shift to the economics of low-carbon hydrogen, sequestration capacity and cross-border industrial CCS projects.

The bottom line: - CCS is still a small slice of utilities, but the market is growing fast, with Asia Pacific, the U.S. and pre-combustion systems leading the next wave.