The arrival of the “double carbon” era indicates that industrial carbon reduction with high energy consumption and high carbon emission is imperative. From the perspective of carbon emission driving factors, industrial carbon emission is decomposed into five influencing factors: energy intensity, energy structure, industrial structure, economic efficiency, and employee scale. Taking the data of 41 subindustries of industrial industry in Liaoning Province from 2010 to 2019 as the research sample, the carbon emission is calculated. The LMDI model is used to analyze and point out the difference in the driving contribution of carbon emissions of each subindustry. The results show that the total carbon emission of Liaoning province gradually decreases, decreases for the first time in 2014, and gradually turns from flat to upward. Economic efficiency is the only and most important reason to drive the increase of industrial carbon emissions in Liaoning Province, and energy efficiency is the primary factor to curb carbon emissions. High carbon industries play a significant role in promoting the increase of carbon emissions, while the medium and low carbon industries have a better effect on restraining carbon emissions. It provides reference and theoretical basis for the government to adjust the industrial structure, control industrial overcapacity, and realize the “double carbon” goal as soon as possible. It is of great significance for the country to optimize energy layout, ensure energy security, and implement the new energy strategy.