Carbon Capture, Utilization, and Storage Companies

The carbon capture, utilization, and storage (CCUS) market is projected to grow from USD 5.82 billion in 2025 to USD 17.75 billion by 2030, at a CAGR of 25.0% during the forecast period.

One of the most influential drivers of the CCUS market is the increasing imperative to achieve global climate goals and a net-zero world, which is encouraging governments, industries, and investors to turn to large-scale carbon abatement solutions. CCUS allows hard-to-abate industries like cement, steel, chemicals, and power generation to lower their CO2 footprint substantially while sustaining operational activity. Friendly policies, such as tax credits, carbon pricing, and financing schemes, in addition to reducing emissions regulations, are driving adoption. Moreover, technology cost reductions, enhancing efficiency, and increasing utilization routes for captured CO2 through enhanced oil recovery, synthetic fuels, and chemicals production further enhance it. Mega-infrastructure projects and public–private collaborations are developing end-to-end CO2 value chains, propelling investment even more. The potential of CCUS to supplement clean energy by dealing with leftover emissions places it as a fundamental bulwark in the world’s clean energy revolution.

Carbon Capture, Utilization, and Storage Companies

Some of the major manufacturers operating in the CCUS market are Fluor Corporation (US), Exxon Mobil Corporation (US), Linde plc (UK),        , Mitsubishi Heavy Industries, Ltd. (Japan), JGC Holdings Corporation (Japan), Schlumberger Limited (US), Aker Solutions (Norway), Honeywell International (US), Equinor ASA (Norway), TotalEnergies SE (France), Hitachi Ltd (Japan), Siemens AG (Germany), GE Vernova (US), and Halliburton (US).

Many major players in the past few years have been adopting various growth strategies to strengthen their position in the global CCUS market. These growth strategies include agreements, product launches, contracts, collaborations, mergers & acquisitions, partnerships, and research and development activities to expand their market presence in the CCUS market even further.

Equinor ASA (Norway)

Equinor ASA operates as a dominant force within the global CCUS market, leveraging nearly three decades of offshore CO2 storage expertise gained through the pioneering Sleipner project, which began operations in 1996 and has successfully stored over 19 million tonnes of CO2. The Norwegian energy company spearheads the world’s first commercial cross-border CO2 transport infrastructure through Northern Lights, a joint venture with Shell and TotalEnergies. Equinor maintains multiple projects spanning Norway, Denmark, the UK, and the US.

Shell plc (UK)

Shell plc, headquartered in London, UK, traces its origins to 1907 when Royal Dutch Petroleum Company merged with Shell Transport and Trading Company. The British multinational energy giant leads carbon capture markets through strategic partnerships and ambitious projects spanning multiple continents. Shell maintains equal ownership stakes in Northern Lights alongside Equinor and TotalEnergies. In Canada, Shell operates the Quest CCS facility at Scotford, while developing the Polaris project to capture 650,000 tonnes (716,502.35 tons) yearly and the Atlas Carbon Storage Hub for permanent underground storage. Shell’s global CCUS portfolio includes projects across Australia’s Gorgon facility, Singapore’s S-Hub consortium with ExxonMobil targeting 2.5 million tonnes (2.75 million tons) capacity, and various initiatives throughout Asia Pacific, demonstrating the company’s commitment to scaling carbon management technologies across hard-to-abate industrial sectors.

Exxon Mobil Corporation (US)

Exxon Mobil Corporation, headquartered in Irving, Texas, traces its roots to the 1999 merger of Exxon and Mobil, whose histories date back to 1870 and 1911, respectively. As a major player in carbon capture, utilization, and storage (CCUS), ExxonMobil operates the largest CO2 pipeline network in the US, over 1,500 miles along the Gulf Coast, following its USD 4.2 billion acquisition of Denbury Resources in 2023. The company’s Low Carbon Solutions business has captured more than 120 million tonnes (132.2 million tons) of CO2 to date. It is advancing projects such as the Louisiana Carbon Hub, which will store up to 2 million tonnes annually, and offshore storage sites in the Gulf of Mexico.

Fluor Corporation (US)

Fluor Corporation, founded in 1912 and based in Irving, Texas, has built a strong reputation as an engineering, procurement, and construction leader in the CCUS arena. Fluor’s teams design carbon capture systems for gas processing plants and refineries, having delivered front-end engineering for projects like the Petra Nova retrofit in Texas and the Gorgon CO2 injection facility in Australia. The company supports clients from concept through commissioning, integrating capture technologies with existing operations. Fluor also develops transport and storage solutions, working on pipelines and underground sequestration sites. By combining decades of project delivery experience with innovative capture processes, Fluor helps industrial operators reduce emissions cost-effectively.

CCUS MARKET: MARKET RANKING

The CCUS industry is highly competitive, with the top five accounting for around 35–40% of the market share. Equinor ASA is the market leader in the international CCUS market, with the largest market share due to its pioneering Sleipner project and the Northern Lights joint venture, which together offer decades of offshore storage experience and a rapidly expanding commercial service. Shell follows with large-scale deployments such as Quest in Canada, Polaris and Atlas hubs, and its stake in Northern Lights. Exxon Mobil ranks third, bolstered by the Denbury acquisition and the Louisiana Carbon Hub alongside the US Gulf Coast pipeline network. Fluor leads engineering and construction for CCUS projects worldwide, placing fourth, while TotalEnergies secures fifth through its growing transport and storage investments under the Northern Lights consortium.

Related Reports:

Carbon Capture, Utilization, and Storage Market by Service (Capture, Utilization, Storage, Transportation), Technology (Chemical Looping, Solvents & Sorbents, Membranes), End-use Industry (Oil & Gas, Power Generation, Chemical & Petrochemical, Cement, Iron & Steel), and Region - Global Forecast to 2030