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The Hydrogen Generation Market is projected to reach $188.2 billion by 2030, at a CAGR of 8.4% during the forecast period 2023–2030. The growth of this market is driven by the rising demand for hydrogen in the chemicals industry and increasing government initiatives to transition to clean energy sources. However, the high capital cost of hydrogen storage restrains the growth of this market. The growing focus on developing green hydrogen production technologies and the increasing use of hydrogen in fuel cell electric vehicles (FCEVs) are expected to generate growth opportunities for the players operating in this market. However, the lack of secure hydrogen transport and storage infrastructure is a major challenge for market growth.
Here are the top 10 companies operating in the Hydrogen Generation Market
Founded in 1902 and headquartered in Paris, France, L’AIR LIQUIDE S.A. supplies industrial gases and services to various industries, including medical, chemical, and electronic manufacturers. The company produces low-carbon hydrogen using electrolysis and methane or biomethane reforming processes. L’AIR LIQUIDE provides hydrogen for the road freight, maritime, and aviation sectors. The company actively engages in large-scale projects and strategic alliances to accelerate the transition to hydrogen for mobility. The company operates through three business segments: Gas & Services, Global Markets & Technologies, and Engineering & Construction.
The company has a strong geographical presence across Europe, the Americas, Asia-Pacific, and the Middle East & Africa through its subsidiaries and strong distribution network. Some of its subsidiaries are Air Liquide Canada Inc. (Canada), Pharma Dom SA (France), VitalAire GmbH (Germany), Gasmedi 2000, S.A. (Spain), Air Liquide Global E&C Solutions Malaysia Sdn. Bhd. (Malaysia), and Air Liquide Singapore Private Limited (Singapore). As of 2022, the company had a headcount of 56,200 employees globally.
Air Products and Chemicals, Inc.
Founded in 1940 and headquartered in Pennsylvania, U.S., Air Products and Chemicals, Inc. provides essential industrial gases-related equipment and applications to industries, including refining, chemical, metals, electronics, manufacturing, and food & beverage. The company provides PRISM solutions with Membrane and Pressure Swing Adsorption (PSA) technologies which are used to recover hydrogen from many refineries and chemical plants. It also offers pipeline supply systems worldwide for large volumes and flexible hydrogen supply. The company provides liquid or gas bulk deliveries and storage systems for a safe, reliable supply option of high-purity hydrogen.
The produced hydrogen is widely distributed for various applications such as annealing, atmosphere control, brazing, carburizing, nitriding, hardening, catalyst regeneration, cutting and polishing for glass, fiber optics, and flat panel displays. The company provides on-site hydrogen gas generation solutions with a low carbon footprint, better product quality, energy efficiency, and better environmental performance.
The company operates through four business segments: Americas, Asia, Europe, the Middle East, and India. The company has a strong geographical presence across the U.S., China, and other countries through its subsidiaries and strong distribution network. Some of its subsidiaries are Infineon Korea Industrial Gases, Ltd. (South Korea), Indura S.A. (Chile), AIR PRODUCTS spol. s r.o. (Czechia.), Sociedad Española de Carburos Metálicos, S.A. (Spain), Air Products Korea Inc. (South Korea), and Air Products Blue Energy LLC (U.S.). As of September 2022, the company had a headcount of 21,900 employees globally.
Founded in 1919 and headquartered in Indiana, U.S., Cummins Inc. designs, manufactures, and distributes engines, filtration, and power generation products. The company uses an electrolysis process to extract hydrogen from various resources such as nuclear, fossil fuels, and solar. Cummins presents HyLYZER, a powerful and efficient Proton Exchange Membrane (PEM) technology that produces high-purity hydrogen on a large scale. The company offers megawatt-scale stacks in the HyLYZER system, providing exceptional scalability for customers requiring substantial quantities of hydrogen.
The company offers Alkaline technology, namely HySTAT, which is robust and has a long lifetime with minimal maintenance technology to produce hydrogen. The company provides hydrogen for various applications such as ammonia and fertilizers, crude oil refining, cooling, electronics and semiconductors, hydrogenation of oil and fats, metal processing, manufacturing, and power plants. The company operates through five business segments: Engine, Components, Distribution, Power Systems, and New Power.
The company has a strong geographical presence across the U.S., China, India, and other countries through its subsidiaries and strong distribution network. Some of its subsidiaries are Cummins India Ltd (India), Meritor, Inc. (U.S.), Cummins Filtration Inc (U.S.), Cummins Turbo Technologies (U.K.), Cummins Australia Pty. Ltd (U.S.), and Cummins Filtration International Corp (Singapore). As of December 2022, the company had a headcount of 73,600 employees globally.
Plug Power Inc.
Founded in 1997 and headquartered in New York, U.S., Plug Power Inc. develops scalable hydrogen solutions for use in e-mobility, material handling, and stationary power markets. The company offers electrolyzer products that are modular and scalable hydrogen generators that produce clean hydrogen. Plug Power provides GenFuel services, including the design, procurement, construction, commissioning, and maintenance of all the components required to store hydrogen at large or small sites without disrupting operations. The company offers plug-and-play electrolyzer products and custom-engineered, built-to-order integrated hydrogen generation solutions.
The company has a strong geographical presence across North America and other regions through its subsidiaries and strong distribution network. Some of its subsidiaries are Plug Power Energy India Pvt. Ltd (India), Proton Services Inc. (U.S.), American Fuel Cell LLC (U.S.), Plug Power Capital Inc. (U.S.), Plug Power Autonomous Technology, Inc. (Canada), and Giner ELX, Inc. (U.S.). As of December 2021, the company had a headcount of 2,449 employees globally.
Founded in 1969 and headquartered in Connecticut, U.S., FuelCell Energy, Inc. designs, manufactures, operates, and services direct fuel cell power plants. The company produces hydrogen that fuels zero-emission passenger vehicles from fuel cell plants. FuelCell Energy offers a Tri-generation platform to produce hydrogen, which use natural gas and renewable biogas to generate hydrogen fuel cell. The company provides Solid Oxide Electrolyzer Cell (SOEC) to produce clean hydrogen from electrolysis. FuelCell Energy offers hydrogen storage and transport facilities for wide industrial applications.
The company has a strong geographical presence across South Korea, the U.S., Germany, and England through its subsidiaries and strong distribution network. Some of its subsidiaries are Versa Power SYSTEMS Ltd (Canada), FuelCell Energy Solutions GmbH (Germany), Bridgeport Fuel Cell, LLC (U.S.), FCE Korea Ltd. (South Korea), Alliance Chico, LLC (U.S.), and Eastern Connecticut Fuel Cell Properties LLC (U.S.). As of October 2022, the company had a headcount of 513 employees globally.
Meticulous Research in its latest publication on Hydrogen Generation Market has predicted the growth of 8.4% during the forecast year 2023-2030.
Linde GmbH
Founded in 1879 and headquartered in Bayern, Germany, Linde GmbH provides hydrogen with a purity of up to 99.999% and a capacity of 300 Nm³/h to 200,000 Nm³/h. The company provides the entire process for the manufacture, recovery, purification, storage, liquefaction, and transportation of hydrogen. The company produces hydrogen from a range of feedstocks and natural resources. Linde uses processes like steam reforming to generate hydrogen from natural gas, LPG, or naphtha.
Linde offers liquefaction with modular designs building which helps maintain the quality standards of hydrogen for efficient performance and long service life. The company offers storage solutions for large-scale hydrogen production. Through the ITM Linde Electrolysis (ILE), the company supplies PEM electrolyzer technologies that help produce integrated green hydrogen solutions for their clients. The company has a strong geographical presence across the U.S., Europe, the Middle East & Africa, and Asia-Pacific. As of December 2022, Linde plc (Ireland) had a headcount of 65,010 employees globally.
Founded in 1927 and headquartered in Texas, U.S., Matheson Tri-Gas, Inc. provides customer solutions, on-site air separation plants and small portable cylinders, and services required to support these products and customer applications. Matheson provides pipeline supply and on-site hydrogen production plants through various processes such as steam methane reforming (SMR) of hydrocarbons, auto thermal reforming (ATR), and partial oxidation (POX). The company offers hydrogen generation solutions in liquid or gas phase and cylinders containers for hydrogen storage. Matheson provides liquid-phase hydrogen delivered in large or small transportable vessels and liquid cylinders. The company offers gas-phase hydrogen, which is supplied in high-capacity tube trailers.
The company has a strong geographical presence across U.S., Japan, Europe, and Asia-Pacific through its subsidiaries and strong distribution network. Some of its subsidiaries are Valley National Gases (U.S.), Five Star Gas and Gear, Inc. (U.S.), Western International Gas and Cylinders, Inc. (U.S.), Linweld Manufacturing, Inc. (U.S.), and Matheson K-Air Gases India Private Limited (India Evergreen Supply, Inc. (U.S.).As of 2022, the company had a headcount of more than 4500 employees worldwide.
SOL Spa
Founded in 1927 and headquartered in Monza, Italy, SOL Spa produces and markets technical, industrial, pure, special, and medicinal gases. The company offers technical gases such as oxygen, nitrogen, argon, acetylene, carbon dioxide, hydrogen, helium, and mixtures used in most industrial sectors. The company operates through two business segments: Technical Gases and Home care. SOL Spa produces and sells Hydrogen in various purities depending on customers’ uses and requirements. The company provides plant and control systems, namely, SolMet, to produce hydrogen for various applications such as steel forging, cast-iron, lime, glass container, and fiber. The company provides HySOL, an innovative solution that caters to customers’ gas supply needs for their production processes cost-effectively. HySOL is designed to be installed directly at the customer’s premises, utilizing advanced catalytic reforming and electrolysis technologies to meet the specific hydrogen requirements of each customer.
The company has a strong geographical presence across Italy and other countries through its subsidiaries and strong distribution network. Some of its subsidiaries are SICGILSOL India Private Limited (India), AIRSOL S.r.l. (Italy), Air Liquide Hellas S.A.G.I. (Europe), Intensivpflegedienst Kompass GmbH (Germany), Medes S.r.l. (Italy), and SOL France SAS (France). As of December 2022, the company had a headcount of 5,374 employees globally.
Founded in 2020 and headquartered in Munich, Germany, Siemens Energy AG generates green hydrogen from water and renewable energy. The company offers Silyzer, a hydrogen generation solution that uses Proton Exchange Membrane (PEM) electrolysis technology to produce hydrogen from wind and solar. Siemens Energy offers comprehensive services for electrolyzer plants and energy assets with an entire hydrogen value chain. The company provides reliable and economical operation for hydrogen generation with maintenance, support, and digital services. The company operates through two business segments: Gas and Power and Siemens Gamega Renewable Energy.
Through its subsidiaries and strong distribution network, the company has a strong geographical presence across Europe, C.I.S., the Middle East, Africa, the Americas, Asia, and Australia. Some of its subsidiaries are Siemens Energy Global GmbH & Co. KG (Germany), Siemens Energy AB (Sweden), Siemens Transformateurs Canada Inc (Canada), and Siemens Energy Finance B.V. (Netherlands). As of 2022, the company had a headcount of 91,000 employees globally.
Messer SE & Co. KGaA
Founded in 1898 and headquartered in Bad Soden, Germany, Messer SE & Co. KGaA is a supplier of industrial gases. The company provides solutions for producing and supplying green hydrogen with water electrolysis technology for industrial use. Messer offers demand-oriented and cost-effective solutions for on-site hydrogen supply using steam reforming of natural gas.
Messer offers hydrogen generation solutions with customized products and concepts. The company offers an on-site concept that utilizes electrolysis technology to produce hydrogen directly at the customer’s location. This on-site concept integrates water electrolysis seamlessly into existing processes, resulting in the production of clean hydrogen. This clean hydrogen finds applications in both the industrial and mobility sectors.
Furthermore, Messer’s One-Stop-Shop service provides a comprehensive solution for hydrogen-powered buses. This service encompasses hydrogen supply, infrastructure development, and all the necessary operational services. The company operates through five business segments: Liquefied gases, Pipeline/On Site, Cylinder gases, Hardware/Other, and From Other Revenue Sources.
The company has a strong geographical presence across China, Southeast Europe, Central Europe, ASEAN, and Western Europe through its subsidiaries and strong distribution network. Some of its subsidiaries are Messer Tehnogas AD (Europe), Messer Austria GmbH (Austria), Messer Gases Ltda. (U.S.), Messer Ibérica de Gases S.A. (Spain), Messer Romania Gaz Srl (Romania.), and Messer Eutectic Castolin S.A.R.L. (France). As of December 2021, the company had a headcount of 5,131 employees globally.
Authoritative Research on the Hydrogen Generation Market – Global Opportunity Analysis and Industry Forecast (2023-2030)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
The Comprehensive report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
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