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Europe Carbon Capture and Storage Market Trends

Report ID: GMI6623
Published Date: Sep 2023
Report Format: PDF

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Europe Carbon Capture and Storage Market Trends

The Europe carbon capture and storage market is experiencing a transformation driven by strong government support, industrial adoption, technological innovation, increased investment, and a growing understanding of the crucial role CCS plays in achieving ambitious climate goals. This market evolution positions Europe as a leader in the global effort to address carbon emissions and accelerate the transition to a sustainable, low-carbon future. Proactive stance of European governments, exemplified by initiatives like the European Green Deal have resulted in increased funding, incentives, and supportive policies for CCS endeavors favoring the industry growth.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of carbon capture and storage in Europe crossed USD 470.7 million in 2023 and will witness over 34% CAGR from 2024 to 2032, due to the mounting pressure to reduce carbon emissions and the substantial uptick in investments across industries.

The power generation applications is set to record 44.3% CAGR through 2032, owing to rising adoption in various power plants for the utilization of low-cost fossil fuels for electricity generation.

Norway carbon capture and storage industry size is poised to record over 14.5% CAGR from 2023-2032, owing to strong government support, international collaboration, higher focus on offshore CCS, and rising integration into broader energy transition plans.

Linde plc, General Electric, Siemens, Aker Solutions, Halliburton, SLB, Exxon Mobil Corporation, Shell CANSOLV, Fluor Corporation, Sulzer, Equinor, SSE, TotalEnergies, Eni, Vattenfall AB, RWE, and Heidelberg Materials are some of the carbon capture and storage firms in Europe.