The Global Green Hydrogen Production Market was valued at USD 1.1 Billion in 2023 and is projected to reach USD 31.8 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 61.1% during the forecast period (2024–2030). This explosive growth is being driven by ambitious national decarbonization goals, plummeting renewable energy costs, and increasing investments in hydrogen infrastructure to decarbonize hard-to-abate sectors like industry and heavy transport.

As the world accelerates its transition to a net-zero economy, the spotlight is on the pioneering companies developing the technologies and scaling the production of green hydrogen. In this blog, we profile the Top 10 Companies in the Global Green Hydrogen Production Industry—a mix of industrial gas giants, energy majors, and renewable technology leaders shaping the future of clean energy.

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🔟 1. Linde plc

Headquarters: Guildford, United Kingdom (Operational Headquarters)
Key Offering: Electrolyzers, Hydrogen Liquefaction, Green Hydrogen Supply Solutions

Linde is a global leader in the production and distribution of industrial gases, with a rapidly expanding green hydrogen portfolio. The company is involved in major projects worldwide, leveraging its expertise in gas handling, liquefaction, and logistics to deliver large-scale green hydrogen solutions to industrial customers.

Key Projects & Initiatives:

• Developing a 24 MW electrolyzer plant in Leuna, Germany, to supply green hydrogen to the chemical industry.

• Partnerships with ITM Power and others to deploy large-scale Proton Exchange Membrane (PEM) electrolyzers.

• Global network of hydrogen refueling stations for fuel cell vehicles.

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9️⃣ 2. Air Products and Chemicals, Inc.

Headquarters: Allentown, Pennsylvania, USA
Key Offering: Mega-scale Green Hydrogen Production Plants, Liquefied Hydrogen Transport

Air Products is one of the world’s largest hydrogen producers and has committed to investing billions in landmark green hydrogen projects. The company’s strategy focuses on building some of the world’s largest facilities, integrated with renewable energy sources.

Key Projects & Initiatives:

• A $5 billion mega-project in NEOM, Saudi Arabia, aiming to produce 650 tons of green hydrogen per day by 2026.

• A multi-billion-dollar net-zero hydrogen energy complex in Edmonton, Canada.

• Investment in a green liquid hydrogen production facility in New York, USA.

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8️⃣ 3. Siemens Energy AG

Headquarters: Munich, Germany
Key Offering: PEM and Silyzer Electrolyzers, Integrated project development

Siemens Energy is a key technology provider in the green hydrogen value chain, specializing in high-power electrolyzers. The company integrates its electrolysis technology with its extensive portfolio of renewable energy and power grid solutions.

Key Projects & Initiatives:

• Development of the “H2M” project with several German partners for large-scale hydrogen production.

• Supplying a 8.75 MW PEM electrolyzer for the Energiepark Bad Lauchstädt in Germany.

• Active R&D to scale electrolyzer capacity and improve efficiency.

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7️⃣ 4. Shell plc

Headquarters: London, United Kingdom
Key Offering: Integrated Green Hydrogen Hubs, Refueling Infrastructure

Shell is leveraging its global energy infrastructure and customer base to become a major player in green hydrogen. The company is developing integrated hydrogen hubs that combine production with demand centers, such as refineries and transport corridors.

Key Projects & Initiatives:

• Developing the “Holland Hydrogen I” project in the Netherlands, a 200 MW electrolyzer powered by offshore wind.

• Part of the “Hydrogen Energy Supply Chain” (HESC) pilot project between Australia and Japan.

• Expanding its network of hydrogen refueling stations in key markets like Germany and California.

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6️⃣ 5. ENGIE SA

Headquarters: Courbevoie, France
Key Offering: Renewable-powered Hydrogen Projects, Technical Advisory Services

ENGIE, a global leader in low-carbon energy, has a strategic focus on green hydrogen as a key pillar of its decarbonization strategy. The company is developing a diverse portfolio of projects, from large-scale exports to local industrial applications.

Key Projects & Initiatives:

• “Yuri” project in Australia, aiming to produce green hydrogen for a local ammonia producer using solar power.

• Part of the “HyDeal Ambition” consortium targeting 95 GW of solar-powered hydrogen production by 2030.

• Developing over 30 green hydrogen projects globally, focusing on Europe and Latin America.

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5️⃣ 6. ITM Power plc

Headquarters: Sheffield, United Kingdom
Key Offering: PEM Electrolyzers, Refueling Stations

ITM Power is a pure-play manufacturer of PEM electrolyzers, a key technology for producing green hydrogen. The company has established itself as a leading equipment supplier for large-scale projects and hydrogen refueling infrastructure.

Key Projects & Initiatives:

• Operating the world’s largest PEM electrolyzer factory in Sheffield with a 1 GW annual capacity.

• Supplying a 24 MW electrolyzer for the REFHYNE project at Shell’s Rhineland refinery in Germany.

• Strategic partnerships with Linde and others to deploy integrated hydrogen solutions.

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4️⃣ 7. China State Shipbuilding Corporation (CSSC) / Sinopec

Headquarters: Beijing, China
Key Offering: Ultra-large-scale Alkaline Electrolyzers, Integrated Petrochemical-Hydrogen Complexes

Chinese state-owned enterprises, particularly Sinopec and entities under CSSC, are making massive investments in green hydrogen to meet China’s dual carbon goals. They are focusing on integrating hydrogen production with existing refining and chemical operations.

Key Projects & Initiatives:

• Sinopec is building the world’s largest solar-powered green hydrogen project in Kuqa, Xinjiang, with a 260 MW electrolyzer.

• Massive investments in alkaline electrolyzer manufacturing capacity.

• Developing hydrogen pipelines and refueling networks along China’s east coast.

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3️⃣ 8. Bloom Energy

Headquarters: San Jose, California, USA
Key Offering: Solid Oxide Electrolyzers, High-Efficiency Hydrogen Production

Bloom Energy is known for its solid oxide fuel cells and has developed a high-temperature solid oxide electrolyzer. This technology offers high electrical efficiency, potentially reducing the cost of green hydrogen production when paired with heat sources.

Key Projects & Initiatives:

• Deploying its electrolyzers for projects with Idaho National Laboratory and LSB Industries.

• Focusing on industrial applications where waste heat can be utilized to boost electrolysis efficiency.

• R&D aimed at making solid oxide electrolysis a commercially competitive pathway.

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2️⃣ 9. McPhy Energy

Headquarters: Grenoble, France
Key Offering: Alkaline and PEM Electrolyzers, Hydrogen Refueling Stations

McPhy is a European specialist in hydrogen production and distribution equipment. The company offers a range of electrolyzer sizes, from small-scale units to large industrial systems, and is a key player in building refueling infrastructure.

Key Projects & Initiatives:

• Selected to supply a 2 MW electrolyzer for the “H2V 59” project in Dunkirk, France.

• Expanding its manufacturing capacity in France and Germany to several hundred MW.

• Providing hydrogen stations for zero-emission mobility projects across Europe.

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1️⃣ 10. Nel ASA

Headquarters: Oslo, Norway
Key Offering: Alkaline and PEM Electrolyzers, Hydrogen Refueling Solutions

Nel is one of the world’s oldest and most experienced electrolyzer companies, with a history dating back to 1927. The company is a leading global supplier of both alkaline and PEM electrolysis technology, serving a wide range of applications from energy storage to transportation.

Key Projects & Initiatives:

• Operates automated electrolyzer production facilities in Norway and the U.S.

• Awarded contracts for multi-hundred MW electrolyzer projects in Europe and the US.

• Pioneering the development of “renewable hydrogen” standards and certifications.

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🌍 Outlook: The Future of Green Hydrogen is Scalable and Cost-Competitive

The green hydrogen production market is at a critical inflection point. While current production volumes are modest, the industry is poised for exponential growth as technology scales and costs decline. The key challenge is moving from pilot projects to gigawatt-scale production that can achieve cost parity with fossil-based hydrogen.

📈 Key Trends Shaping the Market:

• Gigawatt-Scale Project Announcements: A pipeline of projects exceeding 200 GW of electrolyzer capacity is under development globally.

• Government Support and Mandates: Policies like the US Inflation Reduction Act and EU Hydrogen Bank are providing crucial subsidies and creating demand.

• Technology Cost Reduction: Electrolyzer capital costs are expected to fall by 60-80% by 2030 due to scaling and innovation.

• Vertical Integration: Companies are forming integrated consortia to manage the entire value chain from renewables to end-use.

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The companies listed above are not only building the foundation of the green hydrogen economy—they are actively scaling the technologies that will decarbonize industries and power a sustainable future.