Power Generation Carbon Capture & Storage Market By Technology (Pre-Combustion Capture, Post-Combustion Capture, Oxy-Fuel Combustion Capture), By Capture Source (Coal-Fired Power Plants, Natural Gas Power Plants, Biomass Power Plants, Waste-to-Energy Plants), By Storage Type (Geological Storage, Ocean Storage, Mineral Storage), By End-Use Industry (Energy & Power, Oil & Gas, Industrial Manufacturing, Chemical Processing), and By Region; Global Insights & Forecast (2024 – 2030).

As per Intent Market Research, the Power Generation Carbon Capture & Storage Market was valued at USD 4.3 Billion in 2024-e and will surpass USD 9.7 Billion by 2030; growing at a CAGR of 14.7% during 2025 - 2030.

The Pre-Combustion Capture segment dominates the Power Generation Carbon Capture & Storage (CCS) market due to its high efficiency and flexibility in application across various power generation systems. This technology involves the removal of carbon dioxide (CO2) from fossil fuels before combustion, typically in gasification processes, which results in a lower energy penalty compared to post-combustion capture methods. Pre-combustion capture can be applied to both coal and natural gas power plants, offering a versatile solution for carbon capture. This segment is crucial for large-scale carbon capture applications as it supports the cleaner generation of electricity while maintaining energy efficiency.

The growing push towards cleaner power generation technologies and the need to comply with stringent environmental regulations have further bolstered the adoption of pre-combustion capture. This technology is particularly advantageous for integrated gasification combined cycle (IGCC) plants and natural gas combined cycle (NGCC) plants, which have the capacity to integrate carbon capture systems seamlessly. As governments and industries focus on achieving carbon neutrality goals, pre-combustion capture is poised to maintain its position as the largest segment in the CCS market.

Oxy-Fuel Combustion Capture Segment Is Fastest Growing Owing to Enhanced Efficiency and CO2 Concentration

The Oxy-Fuel Combustion Capture segment is the fastest growing in the Power Generation Carbon Capture & Storage market, driven by its ability to deliver higher CO2 concentration in the exhaust gases, simplifying the capture process. This technology involves burning fuel in pure oxygen instead of air, which results in a flue gas that is primarily CO2 and water vapor. This high concentration of CO2 makes it easier and more cost-effective to separate and capture, thus improving the efficiency of the carbon capture process. Oxy-fuel combustion capture is gaining significant traction in both coal and natural gas power plants, where high efficiency in CO2 removal is crucial for meeting regulatory targets.

As the energy sector continues to transition toward low-carbon solutions, oxy-fuel combustion capture is emerging as a key technology for achieving deep decarbonization in power generation. The increasing interest in this technology is also driven by its potential to support large-scale applications in industries that require high levels of CO2 capture, such as steel and cement manufacturing. As research and development continue to improve the cost-effectiveness of oxy-fuel systems, this segment is expected to see rapid growth, particularly in the context of global climate goals.

Coal-Fired Power Plants Capture Source Is Largest Owing to Legacy Dependence on Fossil Fuels

Coal-Fired Power Plants are the largest capture source in the Power Generation Carbon Capture & Storage market, owing to the long-standing reliance on coal for electricity generation worldwide. Coal-fired plants are among the largest contributors to global CO2 emissions, prompting the need for effective carbon capture technologies. The carbon capture systems deployed in these plants focus on mitigating the environmental impact of coal combustion while maintaining energy output. Despite the growing trend towards renewable energy sources, coal remains a dominant power source in many regions, particularly in Asia-Pacific, where the infrastructure is already in place and the energy demand remains high.

The coal-fired power sector has made significant strides in adopting carbon capture and storage solutions, with several large-scale CCS projects already operational worldwide. The large-scale deployment of CCS in coal-fired plants is critical for meeting global emission reduction targets and achieving energy transition goals. As governments and utilities invest in retrofitting existing coal-fired plants with CCS technologies, this segment is expected to retain its dominance in the market.

Geological Storage Segment Is Largest Owing to Proven Track Record and Large-Scale Capacity

The Geological Storage segment is the largest in the Power Generation Carbon Capture & Storage market due to its proven track record and large-scale capacity to store captured CO2 underground. This storage method involves injecting CO2 into deep geological formations such as depleted oil and gas reservoirs or deep saline aquifers, where it can be safely stored for thousands of years. Geological storage is widely regarded as the most viable long-term solution for CO2 storage, and it is the preferred method for large-scale CCS projects, particularly in regions with suitable geological formations.

Geological storage's widespread adoption is driven by its ability to handle vast volumes of CO2, making it ideal for industries with high emissions such as power generation. The increasing number of CCS projects being developed globally, combined with advancements in monitoring technologies to ensure the safety of CO2 storage, reinforces the dominance of this storage type. As countries and industries continue to scale up carbon capture initiatives, geological storage will remain the backbone of CCS infrastructure.

Energy & Power Segment Is Largest Owing to Significant Emissions from Power Generation

The Energy & Power segment is the largest end-use industry in the Power Generation Carbon Capture & Storage market, as power generation is a major source of CO2 emissions. The growing pressure on utilities and governments to reduce greenhouse gas emissions has led to widespread investments in carbon capture and storage technologies to mitigate the environmental impact of power generation, especially from fossil fuel-based plants. The energy & power sector’s emphasis on achieving sustainability and carbon neutrality targets has driven the demand for CCS solutions, particularly in coal and natural gas power plants.

The rapid expansion of renewable energy is also influencing the energy & power segment, as carbon capture technologies are being integrated into both new and existing power plants to reduce emissions and meet regulatory requirements. As the transition to low-carbon energy sources continues, CCS technologies will play a vital role in ensuring that power generation can remain a reliable and sustainable part of the global energy mix.

Asia-Pacific Region Leads the Market Owing to High Coal Dependency and Industrial Growth

The Asia-Pacific region holds the largest share of the Power Generation Carbon Capture & Storage market, primarily due to the heavy reliance on coal for electricity generation in countries like China, India, and Japan. The region's rapid industrialization and growing energy demand have led to significant investments in CCS technologies to reduce the environmental impact of fossil fuel-based power generation. Furthermore, the region's commitment to meeting global climate goals has spurred large-scale CCS projects to mitigate CO2 emissions.

In addition to coal, the region's increasing interest in natural gas and renewable energy sources has further accelerated the adoption of CCS technologies. The combination of government policies, industrial growth, and a strong push for cleaner energy solutions positions Asia-Pacific as the dominant player in the global CCS market. As regional governments continue to implement stricter environmental regulations, the demand for CCS technologies is expected to increase, cementing Asia-Pacific's leadership in the market.

Competitive Landscape and Key Players

The Power Generation Carbon Capture & Storage market is competitive, with several key players leading the development of innovative CCS technologies. Major companies in this market include Siemens Energy, Mitsubishi Heavy Industries, Shell, Aker Solutions, and Carbon Clean Solutions. These companies focus on advancing CCS technology to improve efficiency, reduce costs, and enhance scalability for large-scale applications.

The competitive landscape is marked by significant investments in research and development to optimize carbon capture processes and storage methods. Partnerships and collaborations with governments, energy companies, and research institutions are also common as key players seek to expand their presence in the growing CCS market. With increasing global pressure to achieve net-zero emissions, these companies are at the forefront of delivering sustainable solutions to mitigate the environmental impact of power generation.

Recent Developments:

• ExxonMobil Corporation expanded its CCS investments with a new large-scale facility for carbon capture from power plants.
• Siemens Energy announced a breakthrough in post-combustion capture technology, improving efficiency and scalability.
• Mitsubishi Heavy Industries secured a contract to develop a CCS system for a major natural gas power plant.
• BP Plc partnered with leading energy firms to establish a carbon storage hub for industrial emissions.
• Carbon Clean Solutions Limited unveiled a modular, cost-effective carbon capture system for mid-sized power plants.

List of Leading Companies:

• ExxonMobil Corporation
• Royal Dutch Shell Plc
• Chevron Corporation
• BP Plc
• General Electric
• Siemens Energy
• Mitsubishi Heavy Industries, Ltd.
• Fluor Corporation
• Aker Solutions
• Linde plc
• Schlumberger Limited
• Air Products and Chemicals, Inc.
• Carbon Clean Solutions Limited
• TotalEnergies SE
• NET Power LLC

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