Carbon Dioxide Energy Storage (CES) Technology Global Market Report 2025

The carbon dioxide energy storage (CES) technology market size has grown rapidly in recent years. It will grow from $4.6 billion in 2024 to $5.13 billion in 2025 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be linked to increasing adoption of renewable energy sources, growing carbon emissions awareness, increasing regulatory support for low-carbon technologies, rising industrial demand for a stable energy supply, and growing research in energy storage materials.

The carbon dioxide energy storage (CES) technology market size is expected to see rapid growth in the next few years. It will grow to $7.79 billion in 2029 at a compound annual growth rate (CAGR) of 11%. The growth in the forecast period can be linked to increasing investments in clean energy infrastructure, increasing efficiency of carbon capture technologies, growing interest in circular carbon economy models, rising government mandates for carbon neutrality, and rising need for off-grid energy solutions. Major trends in the forecast period include technological advancements in carbon dioxide-based energy storage systems, innovations in high-efficiency turbomachinery, development of hybrid renewable-storage models, research and development in carbon dioxide thermodynamic cycles, and collaborations for pilot-scale and commercial-scale deployments.

The increasing adoption of renewable energy sources is expected to drive the growth of the carbon dioxide energy storage (CES) technology market. Renewable energy sources are natural resources that are replenished sustainably, such as sunlight, wind, water, and biomass, and can be harnessed to generate electricity or heat without depleting the Earth's resources. The growth of renewable energy adoption is driven by the global need to reduce greenhouse gas emissions, combat climate change, and transition toward cleaner energy systems. Carbon dioxide energy storage technology supports renewable energy by enabling efficient storage and utilization of excess energy, stabilizing supply, reducing emissions, and enhancing overall grid reliability. For instance, in December 2024, according to Eurostat, renewable energy accounted for 24.5% of energy consumed in the EU in 2023, up from 23% in 2022. The increasing adoption of renewable energy is therefore a key driver of the CES technology market.

Companies in the CES technology market are focusing on long-duration energy storage solutions to enhance grid reliability and support renewable energy integration. Long-duration electrical energy storage systems can store large amounts of electricity and discharge it reliably over extended periods - from several hours to days - balancing supply and demand. In January 2025, National Thermal Power Corporation Limited (NTPC) in India launched a state-of-the-art CO₂ battery energy storage project at its Kudgi Super Thermal Power Station in Karnataka. Designed for long-duration, grid-scale storage, the system has an energy capacity of 160 MWh and a lifespan exceeding 25 years. The CO₂ battery uses a closed Brayton thermodynamic cycle with anhydrous CO₂, requires no critical minerals like lithium or cobalt, delivers 100% depth of discharge, and shows minimal performance degradation compared with conventional batteries. The project was executed by NTPC Research and Technology (NETRA), in collaboration with Triveni Turbine Limited and Italy-based Energy Dome, which provided the CO₂ battery technology.

In October 2023, MAN Energy Solutions SE, a Germany-based engineering company, partnered with Energy Dome to develop and deploy CO₂ battery long-duration energy storage technology. The collaboration combines MAN’s turbomachinery expertise with Energy Dome’s CO₂ battery technology to accelerate scalable, long-duration grid energy storage solutions.

Major companies operating in the carbon dioxide energy storage (ces) technology market are British Petroleum America, Chevron Corporation, Badische Anilin And Soda-Fabrik Societas Europaea, Siemens Energy AG, Schlumberger Limited, The Linde Group, Mitsubishi Heavy Industries Ltd., Baker Hughes Company, Halliburton Company, National Thermal Power Corporation Limited, Air Products and Chemicals Inc., Aker Solutions ASA, China International Marine Containers Enric Holdings Limited, Triveni Turbine Limited, Axens SA, Prometheus Fuels Inc., Greenlyte Carbon Technologies Inc., Echogen Power Systems LLC, Energy Dome S.p.A., Zenthos Energy Inc.

North America was the largest region in the carbon dioxide energy storage (CES) technology market in 2024. The regions covered in carbon dioxide energy storage (CES) technology report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the carbon dioxide energy storage (CES) technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the utilities sector, particularly in power generation, grid infrastructure, and renewable energy projects. Higher duties on imported equipment such as turbines, transformers, solar panels, and battery storage systems have increased capital and operational costs for utility providers, forcing them to reconsider project timelines or pass on expenses to consumers through higher energy rates. The water and waste management segments are also affected, with tariffs driving up the cost of essential machinery, piping, and treatment technologies. Additionally, retaliatory tariffs have disrupted global supply chains for critical raw materials like rare earth metals used in clean energy technologies, further complicating the transition to sustainable energy sources. The sector must now prioritize domestic sourcing, digitalization, and efficiency-driven innovations to manage escalating costs while ensuring energy security and regulatory compliance.

The carbon dioxide energy storage (CES) technology market research report is one of a series of new reports that provides carbon dioxide energy storage (CES) technology market statistics, including carbon dioxide energy storage (CES) technology industry global market size, regional shares, competitors with a carbon dioxide energy storage (CES) technology market share, detailed carbon dioxide energy storage (CES) technology market segments, market trends and opportunities, and any further data you may need to thrive in the carbon dioxide energy storage (CES) technology industry. This carbon dioxide energy storage (CES) technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Carbon dioxide energy storage (CES) technology is a process that captures carbon dioxide (CO₂) and uses it as a medium to store and release energy efficiently. This advanced technology supports sustainable energy management by transforming CO₂ into a reusable form, helping to lower greenhouse gas emissions while facilitating the integration of renewable energy.

The primary categories of carbon dioxide energy storage (CES) technology are carbon capture and storage (CCS), carbon capture and utilization (CCU), and carbon capture and conversion (CCC). Carbon capture and storage (CCS) refers to a technology that captures carbon dioxide (CO₂) emissions from industrial operations or power plants and securely stores them underground or in other long-term containment systems to prevent their release into the atmosphere. These technologies are applied across multiple energy storage approaches, including compressed air energy storage, thermochemical energy storage, chemical energy storage, and phase change material storage, and involve various storage states, such as solid, liquid, and gas. They are used for a wide range of applications, including power generation, industrial processes, oil and gas, transportation, buildings, agriculture, and more.

The carbon dioxide energy storage (CES) technology market consists of revenues earned by entities by providing services such as carbon capture services, carbon dioxide compression and transportation, carbon dioxide storage solutions, energy management and monitoring services, and direct air capture (DAC) solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The carbon dioxide energy storage (CES) technology market also includes sales of carbon dioxide compression and storage systems, carbon dioxide-to-fuel conversion units, carbon utilization catalysts, energy storage modules, electrochemical carbon dioxide reduction cells, and membrane separation systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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