Malaysia Hydrogen-Based CCUS Technologies Market size is expected to develop revenue and exponential market growth at a remarkable CAGR during the forecast period from 2024–2030.
Malaysia is rapidly emerging as a significant player in the Hydrogen-Based CCUS Technologies Market, driven by strategic initiatives and substantial investments aimed at reducing carbon emissions. The government's commitment is evident in the National Energy Transition Roadmap (NETR), which outlines the establishment of three Carbon Capture, Utilization, and Storage (CCUS) hubs by 2030, with a combined storage capacity of up to 15 million tonnes per annum (mTpa). These hubs are strategically planned for Peninsular Malaysia and Sarawak, leveraging the country's geological advantages and existing infrastructure.
In July 2024, MIDF Amanah Investment Bank highlighted Malaysia's potential as a regional CCUS hub, citing the identification of 16 depleted fields suitable for carbon storage. These fields offer an estimated storage capacity of 46 trillion cubic feet, with 11 located offshore in Sabah and Sarawak, and the remaining five offshore in Peninsular Malaysia, including Terengganu and Pahang. This positions Malaysia favorably to attract investments and foster sustainable practices in the oil and gas sector.
The financial landscape is equally promising. TA Securities projected that Malaysia could attract over $10 billion in capital expenditures for carbon capture technologies by 2030. This influx of investment is anticipated to span various sectors, driven by blended financing models and public-private partnerships. Such financial commitments are expected to accelerate Malaysia's transition to a low-carbon economy and bolster climate resilience.
Industry collaborations further underscore this momentum. In August 2024, Petroliam Nasional (Petronas) announced a partnership with Abu Dhabi National Oil Company (ADNOC) and U.K.-based Storegga to evaluate carbon capture and storage capabilities in Malaysia. The agreement focuses on assessing CO₂ storage potential in saline aquifers and constructing CCUS facilities in the Penyu basin, offshore Peninsular Malaysia, targeting a storage capacity of at least 5 million tonnes of CO₂ annually by 2030.
The regulatory framework is also evolving to support these advancements. The Malaysian government plans to introduce a CCUS bill in Parliament by November 2024, aiming to regulate the industry and attract more investors. This legislation is expected to provide a structured approach to CCUS activities, ensuring environmental protection and workforce safety, while positioning Malaysia as a leader in the Asian CCUS market.
From an industry perspective, the implementation of CCUS technologies is becoming indispensable. As noted by TA Securities, these technologies are no longer optional for Malaysia's oil and gas sector; they are essential for achieving sustainability and maintaining competitiveness in a rapidly evolving global energy market. Companies like MISC Bhd, Pantech Group Holdings Bhd, and Wasco Bhd are poised to benefit from the growing CCUS ecosystem, given their expertise in maritime logistics, pipeline technologies, and related services.
In conclusion, Malaysia's proactive approach in developing the Hydrogen-Based CCUS Technologies Market reflects a comprehensive strategy encompassing policy support, financial investment, industry collaboration, and regulatory development. These efforts not only aim to mitigate carbon emissions but also position Malaysia as a regional hub for CCUS technologies, fostering economic growth and environmental sustainability.
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Exxonmobil Corporation
Schlumberger
Linde AG
BASF
General Electric
Siemens
Honeywell UOP
Equinor
Aker Solutions
Shell
Fluor
Sinopec
By 2030, Malaysia is expected to witness significant momentum in the market research industry, aligning with the global projection of surpassing $120 billion, driven by a compound annual growth rate (CAGR) of over 5.8% from 2023 to 2030. The industry in Malaysia is being reshaped by technological disruptions, particularly through the adoption of machine learning, artificial intelligence, and advanced data analytics. These technologies provide businesses with predictive analysis and real-time consumer insights, enabling smarter and more precise decision-making. As part of the broader Asia-Pacific region, Malaysia is positioned to contribute substantially to the over 35% revenue growth expected from this region. Additionally, the adoption of innovative techniques such as mobile surveys, social listening, and online panels is rapidly gaining ground in Malaysia, emphasizing speed, precision, and customization, and driving a new era of data-driven strategies across industries.
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Growing demand for below applications around the world has had a direct impact on the growth of the Malaysia Hydrogen-Based CCUS Technologies Market
Hydrogen Production
CO2 Capture Technologies
CO2 Utilization Technologies
CO2 Storage Technologies
Power Generation
Industrial Processes
Transportation
Building Heating
Hydrogen Fuel Cells
Power and Utilities
Oil & Gas
Manufacturing
Transportation
Agriculture
Commercial
Post-combustion Capture
Pre-combustion Capture
Oxy-fuel Combustion Capture
Geological Storage
Ocean Storage
Mineral Carbonation
1. Singapore
Relationship: Strong economic ties; major trading partner.
Highlights: Advanced financial and logistics hub; shares deep cross-border business and travel links with Malaysia.
2. Indonesia
Relationship: Largest ASEAN economy; close cultural and linguistic ties.
Highlights: Major market for Malaysian exports; shared initiatives in palm oil, labor, and regional security.
3. Thailand
Relationship: Land-border neighbor with active cross-border trade.
Highlights: Strong tourism, agricultural, and automotive collaboration.
4. Brunei
Relationship: Close diplomatic and energy-sector ties.
Highlights: Joint ventures in oil & gas; similar Malay cultural heritage.
5. Philippines
Relationship: Regional partner in ASEAN; maritime neighbor.
Highlights: Collaborations in education, labor migration, and disaster relief.
6. Vietnam
Relationship: Growing trade and investment partner.
Highlights: Rising manufacturing hub; strong demand for Malaysian technology and services.
7. Cambodia, Laos, and Myanmar
Relationship: Developing ASEAN members with growing economic ties to Malaysia.
Highlights: Opportunities in construction, retail, and financial services.
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1. Introduction of the Malaysia Hydrogen-Based CCUS Technologies Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Malaysia Hydrogen-Based CCUS Technologies Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Malaysia Hydrogen-Based CCUS Technologies Market, By Type
6. Malaysia Hydrogen-Based CCUS Technologies Market, By Application
7. Malaysia Hydrogen-Based CCUS Technologies Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia
Vietnam
8. Malaysia Hydrogen-Based CCUS Technologies Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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