Mitsubishi Heavy Industries, Linde, TotalEnergies, and Eni Recognized as Leaders in the "Top 17 CCUS Companies, Worldwide 2023" by MarketsandMarkets 360 Quadrant

MarketsandMarkets unveiled 360 Quadrant for the "Top 17 CCUS Companies, Worldwide 2023," classifying industry players Mitsubishi Heavy Industries, Linde, TotalEnergies, and Eni into distinct categories that reflect their exceptional contributions to the CCUS arena.

These four companies have solidified their positions in the CCUS quadrant through their substantial contributions to the field. Their relentless efforts in reducing carbon emissions, advancing CCUS technology, and fostering sustainability have earned them recognition in this exclusive quadrant. Their track record of innovation and dedication to environmental goals have positioned them as leaders in the CCUS landscape.

CCUS is a promising technology for significantly reducing carbon dioxide (CO2) emissions from large stationary sources such as industrial plants and power generation facilities. By capturing CO2 at the source before it enters the atmosphere, transporting it via ships, trucks or pipelines, and injecting it underground for safe, permanent storage, CCUS can help address the challenge of decarbonizing high-emitting sectors that rely heavily on fossil fuels. The CCUS Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for CCUS. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 110 companies of which the Top 17 CCUS Companies were categorized and recognized as the quadrant leaders.

The 360 Quadrant efficiently maps the CCUS companies based on 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.

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Mitsubishi Heavy Industries, Linde, TotalEnergies, and Eni - The Leaders Explained

Mitsubishi Heavy Industries (MHI) Recognized as Market Leader Among the "Top 17 CCUS Companies, Worldwide 2023" by MarketsandMarkets 360 Quadrant.

Mitsubishi Heavy Industries (MHI) is a global conglomerate with a rich history dating back to its establishment in 1870. Over the years, MHI has evolved into one of Japan's most prominent industrial and engineering companies, with a strong presence in various sectors, including aerospace, energy, machinery, and more. Among its many endeavors, MHI has taken significant strides in addressing one of the world's most pressing issues, climate change, by developing Carbon Capture, Utilization, and Storage (CCUS) products and technologies. Owing to the company's expertise and market presence, it has been recognized as the "Market Leader" in the " Top 17 CCUS Companies, Worldwide 2023" by MarketsandMarkets 360 Quadrant.

The company offers CO2 capture technology which it has been developing in collaboration with Kansai Electric Power since 1990. These include the KM CDR Process (Kansai Mitsubishi Carbon Dioxide Recovery Process) and Advanced KM CDR Process. In order to accelerate decarbonization the company has been developing new proprietary technologies such as dry type and DAC (Direct Air Capture) systems etc. The company also aims to support customers by remote monitoring and CaaS (CO2 capture as a Service) and after-service and O&M (Operation and Maintenance).

MHI Group has unveiled the Breeze Concept, which outlines the path to a carbon-neutral society. Under this concept, the company is working to optimize the entire CCUS value chain. Further to establish stable CCUS value chain, The company is expanding its lineup of CCUS-related products, including state-of-the-art CO2 capture technology, compact CO2 capture system, LCO2 vessels, compressors, and CO2NNEX which is a digital platform enable visualization of CCUS value chain (developed with IBM Japan). MHI continually invests in research and development to improve the efficiency and cost-effectiveness of CCUS technologies.

MHI is a key player in the development and deployment of CCUS technologies, offering a comprehensive suite of products and solutions for capturing, storing, and reusing carbon dioxide emissions. Their commitment to advancing these technologies is a significant step in the transition to a more sustainable and climate-resilient future. This recognition from MarketsandMarkets highlights MHI's leadership position and magnitude of efforts in establishing CCUS as a critical tool to help societies achieve climate goals sustainably.

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Linde Recognized as a Contender in " Top 17 CCUS Companies, Worldwide 2023" by MarketsandMarkets 360 Quadrant

Linde is a global industrial gases and engineering company with a significant presence in the field of Carbon Capture, Utilization, and Storage (CCUS). The company has been actively involved in developing and providing CCUS products and solutions to address the growing concerns of carbon emissions from various industrial processes and power generation. The company is recognized among the contenders in the Top 17 CCUS Companies, Worldwide 2023" by MarketsandMarkets 360 Quadrant, owing to its expertise in CCUS domain. The company has over 40 years of experience in building carbon capture plants and flagship reference projects worldwide and has the expertise and track record to cover source concentrations anywhere from below 10% to over 85% at various pressure levels and feed flows as high as 500,000 Nm3/h.

Linde's CCUS products and services encompass a range of technologies and applications designed to capture, transport, store, and even utilize carbon dioxide (CO2) emissions in various industrial processes. Its carbon capture strategies include pre-combustion, oxyfuel combustion, and post-combustion. It offers a carbon capture and storage portfolio which includes solutions like pressure swing adsorption (PSA), membrane technologies, and Linde's latest addition, the HISORP CC which is an adsorption-based carbon capture solution. In October 2022, announced its strategic collaboration with SLB on carbon capture, utilization and sequestration (CCUS) projects to accelerate decarbonization solutions across industrial and energy sectors.

This recognition by 360 Quadrants recognizes not only the company's substantial market presence but also its well-established brand and an array of tailored products and services designed to meet diverse customer requirements. Although Linde may not offer an exhaustive range of offerings compared to market leaders, its undeniable impact and contributions within the CCUS sector are evident. Linde's deliberate emphasis on specific technologies and its dedication to achieving leadership within specific segments underscore its position as a significant and forward-looking participant in the field.

TotalEnergies Recognized as an Innovator in " Top 17 CCUS Companies, Worldwide 2023" by MarketsandMarkets 360 Quadrant

TotalEnergies is a global energy company that operates in various sectors, including oil, gas, and renewables. It has been actively involved in addressing the challenges of climate change and has recognized the importance of CCUS technologies in reducing greenhouse gas emissions. Its inclusion in the "Top 17 CCUS Companies, Worldwide 2023" reflects its pioneering role in the CCUS industry, where its work has established it as one of the leaders, leaving a substantial mark on the CCUS landscape.

The company plans to develop a CO2 storage capacity of over 10 million tons per year by 2030. To achieve this the company is developing CO2 transport and storage offer as a service for its customers. TotalEnergies has been involved in various CCUS initiatives and projects around the world. For example, the company is a partner in the Northern Lights project in Norway, which aims to develop a full-scale CO2 capture, transportation, and storage infrastructure in the North Sea. The project plans to capture CO2 emissions from industrial sources in Europe and transport them offshore for storage in deep geological formations. The company is also working to promote the implementation of a carbon pricing mechanism and has already introduced carbon pricing in the economic assessments of its own investments.

As an innovator, TotalEnergies plays a significant role in CCUS by investing in projects, developing technologies, and exploring the utilization of captured CO2. By actively participating in the development and deployment of CCUS, TotalEnergies aims to contribute to the global efforts of reducing greenhouse gas emissions and combating climate change. Although its current market share for the CCUS may be smaller than that of market leaders, it has the potential to ascend and become a notable player, driven by its innovative spirit and commitment to excellence.

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Eni Gained Recognition as an Emerging Company in the " Top 17 CCUS Companies, Worldwide 2023" by MarketsandMarkets 360 Quadrant.

Eni, an Italian multinational energy company that has played a significant role in the development of CCUS technologies, as well as in the production of various energy-related products. The company's substantial expertise has earned it recognition as an Emerging Leader among the "Top 17 CCUS Companies, Worldwide 2023. The company plans to achieve a total storage of around 10 million tons of CO2 per year (MTPA) in 2030 and a total gross capacity of 30 MTPA, and then increase it to around 35 MTPA in 2040 and around 50 MTPA in 2050. To achieve this the company is carrying out multiple projects across various geographies globally. Some these include HyNet Northwest in the UK, Bacton Thames Net Zero in the UK, Ravenna CCS in Italy, and Bahr Essalam in Libya. It has developed proprietary technology permanently fixing CO2, called Carbon Capture and Mineralisation (e-CCM) in the framework of a collaboration with Holcim.

The recognition of Eni as an emerging company in the "Top 17 CCUS Companies, Worldwide 2023" highlights the company's role in shaping the CCUS landscape. Eni's strong commitment to global decarbonization and its dedication to combatting climate change are evident through its innovative solutions. The company demonstrates specialized expertise, precise support, adaptable terms, and competitive pricing within the CCUS sector. Although Eni may have certain limitations, it remains a preferred choice for specific use cases due to its strategic approach in expanding sales initiatives and broadening its client base. Eni's ongoing growth and commitment to addressing specialized requirements align well with the dynamics of the industry.

As global market dynamics continue to evolve, MHI, Linde, TotalEnergies, and Eni remain at the forefront of innovation, setting benchmarks for excellence in the CCUS landscape. Their inclusion in the "Top 17 CCUS Companies, Worldwide 2023" by MarketsandMarkets 360 Quadrant reaffirms their commitment to delivering cutting-edge solutions to a dynamic and ever-changing market.

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.

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This release was published on openPR.