Europe Power Generation Carbon Capture and Storage Market Size - By Technology (Pre-Combustion, Post Combustion, Oxy-Fuel Combustion) & Forecast, 2024 – 2032

Europe Power Generation Carbon Capture and Storage Market Size

Europe Power Generation Carbon Capture and Storage Market size was valued at USD 429.3 million in 2023 and is expected to grow at a CAGR of 30.9% from 2024 to 2032. The Carbon Capture & Storage (CCS) industry is witnessing a notable growth with the growing focus on the adoption of various clean energy technologies. The power generation industry is consistently pursuing cleaner generation with the incorporation of different technological innovations. The prolific growth across the sector is accompanied by the release of carbon emissions, which has necessitated the widespread adoption of CCS technologies.
 

Increasing investments across coal & gas-fired power stations have significantly propelled the industry landscape. Furthermore, shifting trends toward clean energy coupled with strict environment norms to minimize the carbon emissions will propel the industry growth across the power generation applications.
 

Europe Power Generation Carbon Capture and Storage Market Trends

Ongoing government funding programs along with the mergers & acquisitions by the companies to achieve the levels of investment & support required for the commercial-scale CCS integration will boost the technology demand. Furthermore, increasing awareness toward CCS implementation has led various industrial players to look for better & cost-effective technologies, which possess optimum O&M cost with longer lifespan. As a result, innovative & technically advanced carbon capturing technologies to meet the regulatory targets are gaining wide acceptance across the Europe.
 

Europe Power Generation Carbon Capture and Storage Market Analysis

The Europe power generation carbon capture and storage industry will surpass over USD 8.55 billion by 2032. Growing environmental consciousness among consumers, investors, and stakeholders is influencing corporate strategies and driving the adoption of CCS across power generation applications. Companies are increasingly recognizing the importance of sustainability and are integrating carbon management strategies into their operations to enhance their corporate reputation and meet stakeholder expectations. This shift is prompting businesses to invest in CCS as part of their broader sustainability goals, contributing to the growth of the sector.
 

Based on technology, the Europe power generation carbon capture and storage market is categorized into pre combustion, post combustion, and oxy-fuel combustion. The post-combustion power generation CCS industry is projected to grow over 31.5% CAGR through 2032. Rising demand for clean energy and corporate sustainability initiatives along with shifting trends towards decarbonization are the major growth driving factors for the adoption of post-combustion technology across power generation applications.
 

U.K. power generation CCS market is anticipated to surpass over USD 5.5 billion by 2032. Active government support & UK’s inclination towards decarbonizing goals is stimulating the market growth across the country. The UK is focusing on developing CCS clusters, particularly in industrial regions and areas with high CO2 emissions. These clusters, such as those in the Humber region and Northeast England, aim to create economies of scale by consolidating multiple CCS projects in a single area. This approach is intended to reduce costs, streamline infrastructure development, and accelerate the deployment of CCS technologies.
 

The Netherlands is emphasizing the integration of CCS with existing industrial clusters, particularly in high-emission areas such as the Rotterdam port complex. The country is working to establish CCS hubs that connect multiple industrial facilities to shared CO2 transport and storage infrastructure. This cluster-based approach is intended to optimize the economics of CCS projects by leveraging synergies between different industries and reducing overall costs.
 

Europe Power Generation Carbon Capture and Storage Market Share

Major key players in the market Baker Hughes, Exxon Mobil Corporation, Fluor Corporation, Linde plc, Shell plc, SLB. The power generation carbon capture and storage (CCS) industry is characterized by intense competition among leading players, where the engaged companies are at the forefront of technological innovation, offering advanced solutions in CO? capture, transportation, and storage. They compete on the basis of technology performance, cost efficiency, and project scale.
 

Europe Power Generation Carbon Capture and Storage Market Companies

Some of the key market players operating across the Europe power generation carbon capture and storage industry are:

• Aker Solutions
• Baker Hughes
• CarbonFree
• Dakota Gasification Company
• Equinor ASA
• Exxon Mobil Corporation
• Fluor Corporation
• General Electric
• Global Thermostat
• HALLIBURTON
• Linde plc
• Mitsubishi Heavy Industries, Ltd.
• NRG Energy, Inc.
• Shell plc
• Siemens
• SLB
• Sulzer Ltd.
   

Europe Power Generation Carbon Capture and Storage Industry News

• In June 2024, Equinor planned a significant carbon capture project with a network of onshore CO2 pipelines developed by GRTgaz, connecting France’s Dunkirk industrial area to Equinor’s CO2 Highway Europe. The initiative aimed to address Dunkirk’s substantial CO2 emissions, representing about 20% of France’s industrial output.
   
• In March 2024, General Electric Vernova and Technip Energies propelled the UK’s net-zero goals with one of the world’s pioneering commercial-scale gas-fired power and CCP. The Net-Zero Teesside Power project, part of bp’s initiative, was designed to capture up to 2 million tonnes of CO2 annually and provide low-carbon power for about 1.3 million UK homes.
   

Europe power generation carbon capture and storage market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume in ‘MTPA and revenue in ‘USD Million’ from 2021 to 2032, for the following segments:

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Market, By Technology

• Pre Combustion
• Post Combustion
• Oxy-Fuel Combustion

The above information has been provided for the following countries:

• Denmark
• Netherlands
• UK