Carbon Capture & Storage Market To Reach $6,719.31 Million By 2033

February 2026 | Report Format: Electronic (PDF)

Carbon Capture & Storage Market Growth & Trends

The global carbon capture and storage market size is expected to reach USD 6,719.31 million by 2033, expanding at a CAGR of 7.0% from 2026 to 2033, according to a new report by Grand View Research, Inc. This growth is attributed to the presence of favorable government policies and funding initiatives in the European Union (EU).

Increasing concerns regarding the detrimental effect of carbon emissions on the environment have prompted the adoption of carbon capture and storage technology. Various governments are encouraging the implementation of CCS technology through pilot projects across various industries. This is attributed to the ability of carbon capture and storage technology to serve as a large-scale solution for achieving high CO2 emission reduction targets and climate control goals.

The European Union emerged as a global leader by developing CCS as a part of its energy and climate policy to meet the 80%-95% emission reduction target by 2050. Various policies and funding programs favoring the development of more efficient and cost-effective CCS technologies are primarily driving the market in the region.

The increasing use of carbon dioxide in enhanced oil recovery (EOR) applications is fueling the demand for carbon capture and storage across the globe over the forecast period. However, the high cost of carbon capture and storage technology may not prove to be a viable solution for many industry players as well as countries globally. Therefore, the high cost of CCS is expected to restrain the growth of the CCS market in the near future.

The industry players are adopting several strategies including partnerships, new product launches, expansions, mergers & acquisitions, joint ventures, and partnership agreements to increase the customer base and individual market share. For instance, in June 2023, Technip Energies N.V. announced the launch of CaptureNow which is a platform that brings all the carbon capture, storage, and utilization technologies under one platform.

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Carbon Capture & Storage Market Report Highlights

The pre-combustion segment held the largest revenue share of 71.80% in 2025, dominating the capture technology landscape of the global carbon capture & storage market.
The power generation segment held the largest revenue share of 70.11% in 2025, leading the application landscape of the global carbon capture & storage market.
The North America carbon capture & storage market held the largest share of approximately 36.89% in 2025.