Top 17 CCUS Companies, Worldwide 2023: By MarketsandMarkets 360 Quadrants

CHICAGO, Sept. 7, 2023 /PRNewswire/ -- MarketsandMarkets has released 360 Quadrant for Top 17 CCUS Companies, Worldwide 2023 to help businesses make quicker and more informed decisions. Companies' market presence and product footprint are used to build quadrants, which will be revised annually.

The Carbon Capture, Utilization, and Storage (CCUS) market is projected to grow from USD 3.0 billion in 2022 and is projected to reach USD 14.2 billion by 2030 at a CAGR of 21.5%. Globally, the CCUS market is expanding significantly, and over the forecast period, a similar trend is anticipated. The North American region dominated the CCUS market. This growth can be attributed to stringent government regulations, especially in the US. While the Asia Pacific was the second largest market and is expected to be driven by the upcoming projects in China, Australia, and other Asia-Pacific countries.

Download Sample PDF @ https://www.360quadrants.com/chemicals/carbon-capture-utilization-and-storage

Additionally, high demand from end-use industry applications such as in construction, transportation, wind energy, aerospace and defense, marine, electrical and electronics is fostering the growth of the CCUS market. The market is also driven by several factors, including the need to increase the efficiency of operations, reduce maintenance costs, and enhance safety, thereby increasing the business of CCUS companies. However, high capital cost of carbon capture and storage and safety concerns over storage techniques and sites are the major restraints that might hinder the growth of the CCUS market.

Unveiling the Market Leaders: Honoring Excellence in CCUS Market

Fluor, was identified as the market leader in the 360 Quadrant owing to its wide product portfolio and robust business strategies the company undertakes to gain a competitive edge in the CCUS market. The company offers complete engineering, procurement and construction (EPC) solutions for carbon capture projects, including CO2 compression and transportation. In 2023, Fluor was ranked 303 among the Fortune 500 companies. Fluor is actively incorporating various strategic activities in order to pursue integrated carbon capture and storage (CCS) solutions.
Shell plc is a prominent entity in the CCUS industry. The company is already one of the leaders in the oil & gas exploration activities and supplies crude oil and natural gas worldwide. Shell is actively involved in a range of carbon capture and storage projects around the world. Some of the notable technologies by Shell include ADIP-ULTRA solvent technology, Cansolv CO2 technology, and others. Shell is currently developing more CCS opportunities in the North Sea, the Americas and Asia.
Mitsubishi Heavy Industries (MHI) registered a strong position in the global CCUS market, boasting a strong brand name in the CCUS industry. The company has reorganized the CCUS value chain within the framework called CO₂NTAIN, CO₂NNECT, and CO₂NVERT. The company's CCUS business solutions include CO₂ Capture Technology for Exhaust Gas KM CDR Process, CO₂ Compressor, and LCO₂ Carrier. MHI is applying its extensive experience in the research and development of minimizing CO2 emissions from exhaust gas. The company also plans to continue to expand its CCUS value chain technology lineup through 2023 with various CO2 capture equipment for industrial and transportation sectors such as compressors and carriers.
ExxonMobil, one of the oldest name in the CCUS landscape is positioned as one of the global leaders in the CCUS market. The company's Low Carbon Solutions helps to lower emissions by providing solutions to its industrial and commercial customers in growing markets for carbon capture and storage, hydrogen and lower emission fuels. ExxonMobil collaborates with various companies to provide an integrated solution for carbon capture, transportation and storage solutions on the market.

Access Research Report @ https://www.360quadrants.com/chemicals/carbon-capture-utilization-and-storage

Categorization Of CCUS Companies On 360 Quadrants

CCUS companies' evaluation was conducted for 110 companies, of which the top 17 were categorized and placed in a quadrant under Market Leaders, Contenders, Innovators, and Emerging Companies.

All the companies in the market leader segment demonstrated strong offerings and the ability to influence the market's direction with their deep expertise. These companies include Fluor, Shell, MHI, and ExxonMobil. These companies dominate the market, together accounting for nearly one-third of the entire CCUS market.

Schlumberger, Hitachi, Linde, Halliburton, and JGC have been recognized as contenders in the CCUS's quadrant. The contenders are companies with a strong market presence, excelling in specific niches. While not offering the full range of market leaders, they wield significant influence and impact. These companies focus on specific technologies and aim to establish leadership within their chosen segment.

In the quadrant, innovators are highly innovative companies with a strong product portfolio, but a smaller market presence compared to leaders. They push industry boundaries with forward-thinking approaches and have the potential to become major players despite lower corporate growth strategies. Equinor, Honeywell, Siemens, and TotalEnergies have been identified as the innovators in the quadrant.

The 360 Quadrants effectively evaluates emerging companies in the CCUS industry. They focus on specific areas and offer specialized knowledge, targeted support, flexible terms, and competitive prices. While they may have limited capabilities, they are preferred for specific use cases. These companies employ strategies to expand sales and reach a broader client base. This segment of the quadrant has identified General Electric (GE), Aker Solutions, Eni, and Drax Group as emerging companies.

Evaluation Criteria

The vendor evaluation was conducted on over 110 companies of which the top 17 were categorized and recognized as the quadrant leaders. Factors such as criteria such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the CCUS quadrant. While the top criteria for product footprint evaluation included Carbon Capture, Utilization, and Storage Market by Service (Capture, Transportation, Utilization, Storage), Technology (Chemical Looping, Solvents and Sorbents, Membrane), and End-Use Industry.

Claim Your Free Marketing Kit @ https://www.360quadrants.com/chemicals/carbon-capture-utilization-and-storage

360 Quadrants Scoring Methodology

360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.

See Also:

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research and facilitates analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

360 Quadrants will also be launching 100 quadrants in Chemicals and Materials, Packaging, Energy & Power, and Healthcare.

Visit https://www.360quadrants.com to access our interactive quadrants.

For media inquiries, please contact:
Mr. Agney Sugla
MarketsandMarkets™ INC.
630 Dundee Road, Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: agney@marketsandmarkets.com

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/top-17-ccus-companies-worldwide-2023-by-marketsandmarkets-360-quadrants-301920534.html