CO 2 hydrogenation to methanol via the reverse water−gas shift (the CAMERE process) is an alternative method for methanol synthesis. High operating temperatures (600−800 °C) are required for the reverse water−gas shift (RWGS) process because of the thermodynamic limit. In this study, moderate temperatures (200−300 °C) were used for the RWGS part of the CAMERE process by the application of in situ water removal (ISWR). Thermodynamic analyses were conducted on this process using the Gibbs-free-energy-minimization method. The analyses show that by using ISWR with high water-removal fractions (e.g., 0.80−0.99), the CO 2 conversion of the RWGS part can be significantly improved at moderate operating temperatures. One-step CO 2 hydrogenation to methanol (CTM) with ISWR was also investigated, and it resulted in similar methanol yields. Both processes showed high potential and the ability to promote CO 2 hydrogenation to methanol through the use of ISWR.