Global investment in carbon capture and storage (CCS) is projected to reach US$80 billion by 2030, according to DNV’s Energy Transition Outlook: CCS to 2050. By 2050, CCS capacity is projected to increase from 41 million tonnes of CO2 today to 1.3 billion tonnes per year, representing approximately 6% of global emissions.
Maritime transport is expected to account for 9% of this captured volume, with onboard CCS systems predicted to handle 15% of shipping-related CO2 emissions by 2050. This trajectory, however, is significantly below the scale required to meet IMO climate targets. CCS capacity is expected to increase fourfold during this period period, primarily in Europe and North America, where policy frameworks and fiscal incentives have accelerated deployment.
However, the report finds that, because CCS projects are dependent upon supportive policy frameworks, they are particularly vulnerable to destabilisation by political and economic volatility. Cumulative investments in CCS are expected to reach US$80 billion by 2030, and DNV predicts that the strong price incentives in Europe will result in it overtaking North America in terms of CCS deployment.
Ditlev Engel, CEO of DNV Energy Systems, notes: ‘The trajectory of CCS deployment remains a long way off where it must be to deliver net zero by 2050. Economic headwinds in recent years have put pressure on this capital-intensive technology and corrective action will need to be taken by government and industry if we are to close the gap between ambition and reality.’
Hard-to-abate industries, such as steel, cement, and shipping, are expected to be the primary drivers of CCS expansion from 2030 onward, accounting for 41% of captured volumes by 2050. Within the maritime sector, scalable application is unlikely before the 2040s, with uptake concentrated in fleet segments that are compatible with energy-intensive onboard systems.
A May 2025 study from the Global Centre for Maritime Decarbonisation (GCMD) highlighted the technical potential of MEA-based onboard CCS on heavy fuel oil-powered vessels, which could cut well-to-wake emissions by 29%. When paired with low-carbon fuels such as bio-LNG or used biodiesel derived from cooking oil, emissions reductions could range from 69% to 121%.
However, GCMD and its partners also identified several unresolved issues, including onboard energy penalties, solvent replenishment, crew training, and the lack of port infrastructure for CO2 offloading.
Despite these challenges, CCS is regarded by many as an essential complementary technology to other carbon management solutions. Bioenergy with CCS (BECCS) is forecast to capture approximately 25% of total CO2 emissions by 2050, primarily due to its relative cost-efficiency in the energy and manufacturing sectors.
Direct air capture, by contrast, remains costly, with expenses projected to remain around US$350 per tonne through to 2050. DNV expects carbon markets to drive limited DAC uptake, reaching 84 MtCO2 annually by 2050.
DNV’s modelling suggests that to achieve net-zero alignment, global CCS capacity would need to increase sixfold beyond the 2050 baseline forecast. Jamie Burrows, Global Segment Lead for CCUS at DNV, warns: ‘Delays in reducing carbon dioxide emissions will place an even greater burden on carbon dioxide removal technologies. To stay within climate targets, we must accelerate the deployment of all carbon management solutions – from industrial capture to nature-based removal – starting today.’
