Top Green Hydrogen Companies

Rising global demand for renewable energy as a means of replacing fossil fuels and achieving net zero is a key driver of the green hydrogen industry, particularly with the increased commitment by corporations and government entities. The rapid growth of solar, wind and other renewable energy technologies has led to much lower electricity costs, making electrolysis-based hydrogen production more competitive.

Industry Overview

According to SkyQuest Technology “Green Hydrogen Market By Technology (PEM and Alkaline Electrolyzer), By Renewable Source (Wind Energy, Solar Energy), By Distribution Channel (Pipeline and Cargo), By End-use (Mobility, Chemical, Power, Grid Injection, Industrial), By Region- Industry Forecast 2025-2032,” Global Green Hydrogen Market is projected to grow at a CAGR of over 35.9% by 2032, on account of urgent need for automating quantified data. Extensive government support through government funding, tax incentives, carbon pricing, and national hydrogen strategies in Europe, Asia and the Middle East is driving increased investment into hydrogen and creating substantial markets for hydrogen. In addition, the development of electrolyzer technology and the decreasing capital cost of electrolyzers as well as the increasing development of storage and transportation infrastructure are major contributors to the growth of the market for green hydrogen. The increasing number of corporate sustainability initiatives and collaborative projects between the public and private sectors are contributing to the creation of project pipelines and positions green hydrogen at the forefront of the clean energy transition.

Top 10 Global Green Hydrogen Companies

1. Linde plc

As the leading company in industrial gases globally, Linde has the greatest competitive advantage in the development of hydrogen value chains. Linde has a focus on providing complete (end-to-end) hydrogen solutions because of their extensive historical experience with hydrogen production, liquefaction, transport infrastructure, and purification.

2. Air Liquide

Air Liquide was an early adopter of hydrogen technology as a comprehensive producer of hydrogen from the production process to liquefaction, as well as distribution and storage. An important component of Air Liquide's strategy is its joint venture with Siemens Energy to manufacture industrial-scale PEM (proton exchange membrane) electrolyzers to support the growing hydrogen economy in Europe and elsewhere.

3. Air Products & Chemicals

Air Products & Chemicals (Air Products) is focused principally on developing and implementing mega-scale, clean hydrogen projects to support "hard-to-abate" sectors such as heavy industry and transportation. An example of Air Products' commitment to clean hydrogen is the NEOM Green Hydrogen Complex, a joint venture in Saudi Arabia and the world's largest green hydrogen ammonia production facility, which will be exporting this ammonia to the markets worldwide.

4. Siemens Energy AG

Siemens Energy is a major player in the global energy market and provides an essential element to the hydrogen economy through the manufacturing of industrial scale electrolyte systems using advanced PEM (proton exchange membrane) technology.

5. ENGIE SA

ENGIE is one of the largest multinational energy companies, and it is actively developing green hydrogen production hubs that will utilise its vast portfolio of renewable energy assets. ENGIE provides end-to-end support for its clients' green hydrogen projects through its comprehensive portfolio of consultancy and project execution offerings.

6. Cummins Inc.

Cummins is reorienting its traditional power business into a successful player in the hydrogen supply side. The company produces both electrolyzer and fuel cell/internal combustion engine products.

7. BP (British Petroleum)

BP is committed to finding low-carbon forms of hydrogen (green and blue). BP views low-carbon hydrogen (green and blue) as crucial to transforming itself into an integrated energy company. BP's strategy is to build regional hydrogen hubs (to initially supply BP's operations) with plans to scale these up to support heavy industry and transport customers.

8. Reliance Industries Ltd

Reliance is committed to the "1:1:1 Green Hydrogen Vision" (i.e., $1/1 kg/1 decade) for India. Reliance is developing the New Energy Giga Complex in Jamnagar, which will include large-scale factories for solar PV, energy storage, fuel cells, and most importantly, Green Hydrogen and electrolyzer production.

9. Plug Power Inc.

The main objective of Plug Power is to create a complete green hydrogen ecosystem (from manufacturing and deploying of electrolyzers and hydrogen fuel cells, to operating over 250 fuelling stations) vertically integrated, as they control the entire process, including producing liquid green hydrogen (at the GEORGIA facility), delivering it, and providing the Fuel Cell Systems for Material Handling (Forklifts) and Mobility Applications.

 10. Nel ASA

Nel is amongst the oldest "pure play" Hydrogen Technology Companies in the world, having been founded in 1927, and is considered a pioneer in the production of advanced Electrolyzer systems (Alkaline and PEM) and providing Hydrogen Fuelling Station Solutions. As a technology partner to green hydrogen projects around the world, Nel has ramped up production capabilities to meet cost parity with conventional hydrogen production processes.

Other Leading Global Green Hydrogen Companies

• Thyssenkrupp Nucera
• ITM Power
• McPhy Energy
• Enapter
• Bloom Energy
• Iberdrola
• TotalEnergies
• ACWA Power
• Larsen & Toubro (L&T)
• Ballard Power Systems
• Adani New Industries Ltd (ANIL)

Conclusion

Green hydrogen has made a significant shift from early-stage projects to commercial deployment at large scale, aided by the continuing development of large-scale policy-supportive frameworks. Though the challenge of developing costs, infrastructure, and supply chains continues, the overall global investment and collaboration in the market will continue to rapidly reduce these barriers and propel the market toward maturity. Overall, because of advanced collaboration and investment, the market will be positioned for significant growth, which will make green hydrogen a fundamental building block of a global clean energy economy.