Clean Hydrogen Market Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to clean hydrogen market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Clean Hydrogen Market News

  • Air Liquide, being an Official Supporter of renewable hydrogen for Paris 2024, on 5 April 2024, is financially sponsoring six athletes to allow them to focus on Olympic and Paralympic Games qualification, pursuing their commitment to sustainability and athletic excellence.
  • Air Products, on May 6, 2024, announced that its AP-DMR technology used at Mozambique's Coral South FLNG plant passed performance tests with flying colors with the production of more than 3.4 million tons per annum of LNG. This success is a witness to the company's leadership in technology and equipment in the LNG business.
  • TCPL GES, a company of Tata Cummins, a joint venture between Cummins Inc. USA and Tata Motors, commissioned a new plant in India on March 20, 2024, to produce hydrogen-based Internal Combustion Engines for Medium and Heavy Commercial Vehicles, as well as other low to zero emission technologies.

Top Companies List

  • Air Liquide
  • Air Products
  • TCPL GES
  • BP plc
  • Siemens Energy
  • Plug Power Inc.
  • Bloom Energy Corporation
  • ITM Power plc
  • Nel ASA
  • Cummins Inc.
  • Mitsubishi Power
  • Toyota Motor Corporation (Hydrogen Division)
  • Hyundai Motor Company (Hydrogen Division)
  • ENGIE SA
  • FuelCell Energy, Inc.

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Global Clean Hydrogen market size was valued at USD 4.36 Billion in 2023 and is poised to grow from USD 5.01 Billion in 2024 to USD 18.3 Billion by 2032, growing at a CAGR of 14.8% in the forecast period (2025-2032).

The global clean hydrogen market is competitive, and industry leaders are focusing on capacity expansion, technology innovation, and strategic partnerships. Air Liquide and Linde are investing in large electrolysis facilities, while Shell and BP are integrating hydrogen into their decarbonization plans. Plug Power partnered with Renault in 2024 to ramp up hydrogen commercial vehicles, which indicates the industry's interest in transportation applications. 'Air Liquide', 'Air Products', 'TCPL GES', 'BP plc', 'Siemens Energy', 'Plug Power Inc.', 'Bloom Energy Corporation', 'ITM Power plc', 'Nel ASA', 'Cummins Inc.', 'Mitsubishi Power', 'Toyota Motor Corporation (Hydrogen Division)', 'Hyundai Motor Company (Hydrogen Division)', 'ENGIE SA', 'FuelCell Energy, Inc. '

Governments across the globe are actively promoting clean hydrogen through tax incentives, research funding, and infrastructure development. Clean hydrogen production efforts are backed by the people via the US Inflation Reduction Act (2022) and the EU Hydrogen Strategy (2020). It all promotes mass adoption, which is financed through investment and speeds up the shift to a decarbonized economy.

Technological Advances in Electrolysis: The production of hydrogen is being made more efficient by the innovation of new electrolyzers, including solid oxide and anion exchange membrane (AEM) electrolyzers. Siemens Energy moved green hydrogen closer to industrial and energy uses in 2024 with the commercialization of a state-of-the-art proton exchange membrane (PEM) electrolyzer with improved energy efficiency and lower costs.

How North America's Clean Hydrogen Boom Paving the Way for a Greener Future?

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Global Clean Hydrogen Market
Clean Hydrogen Market

Report ID: SQMIG55E2071

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