Wood Mackenzie, a renowned leader in sustainability and renewable energy analytics, has released a comprehensive analysis on the future of the CCUS market worldwide. The forecast predicts a substantial investment of $196 billion by 2034, with a focus on increasing global carbon capture capacity and storage infrastructure. Notably, North America and Europe are expected to contribute significantly to this investment. The analysis highlights the distribution of investments in CO2 capture, transportation, and storage sectors, emphasizing the importance of government support and incentives in driving CCUS projects. Hetal Gandhi, the APAC CCUS lead at Wood Mackenzie, provided insights on the regional landscape, pointing out the challenges faced by countries like China and India in adopting CCUS due to infrastructure limitations. Despite the growth in CCUS projects, there are gaps between demand and supply, especially in sectors like power and chemicals. Wood Mackenzie stresses the necessity of upgrading CCUS technologies and infrastructure to meet long-term decarbonization goals. Additionally, Wood Mackenzie delves into the challenges surrounding CCUS, highlighting the need for hub-based storage ecosystems, advanced capture technologies, and effective carbon pricing schemes. The analysis also mentions ExxonMobil's strong presence in the US CCUS sector, with successful projects achieving high returns. The article concludes by emphasizing the importance of continuous updates and advancements in the global CCUS landscape to address climate change effectively and achieve sustainable decarbonization goals.