The Global Green Hydrogen Production Market was valued at USD 8.41 Billion in 2025 and is projected to reach USD 198.02 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 58.5% during the forecast period (2024–2030). This explosive growth is fueled by aggressive global decarbonization policies, falling renewable energy costs, and the critical need to decarbonize hard-to-abate industrial sectors like steel, chemicals, and heavy transport.

As the world pivots decisively toward a net-zero future, the spotlight is on the pioneering companies developing the technologies and infrastructure to produce clean hydrogen at scale. In this blog, we profile the Top 10 Companies in the Green Hydrogen Production Industry—a dynamic mix of industrial gas giants, energy majors, and technology innovators who are building the foundation for a hydrogen-powered economy.

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🔟 1. Air Products and Chemicals, Inc.

Headquarters: Allentown, Pennsylvania, USA
Key Offering: Large-scale green hydrogen production facilities, liquefaction, and global supply chain

Air Products is a global leader in industrial gases and a first-mover in mega-scale green hydrogen projects. The company is committing billions of dollars to develop some of the world’s largest electrolysis-based hydrogen facilities, leveraging its expertise in gas handling, liquefaction, and logistics to create an integrated global supply chain.

Key Projects & Initiatives:

• Developing a $5 billion green hydrogen production facility in NEOM, Saudi Arabia, in partnership with ACWA Power.

• Multiple large-scale projects in North America, supported by the US Inflation Reduction Act.

• Investing in hydrogen refueling infrastructure for heavy-duty transportation.

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9️⃣ 2. Linde plc

Headquarters: Guildford, UK / Dublin, Ireland
Key Offering: Electrolyzers, on-site hydrogen generation, and clean energy solutions

Linde is a top-tier industrial gas company with a strong focus on advancing green hydrogen technologies. The company designs, engineers, and operates state-of-the-art electrolysis plants and is actively involved in building the necessary infrastructure to connect supply with demand across various industries.

Key Projects & Initiatives:

• Operating one of the world’s first 24/7 pilot plants for green hydrogen production in Germany.

• Supplying green hydrogen to refineries and chemical plants via pipelines.

• Strategic partnerships to develop large-scale electrolysis projects in Europe and the US.

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8️⃣ 3. Siemens Energy AG

Headquarters: Munich, Germany
Key Offering: PEM (Proton Exchange Membrane) electrolyzers and integrated energy solutions

Siemens Energy is a key technology provider driving the industrialization of green hydrogen production. The company’s Silyzer product line offers high-efficiency PEM electrolyzers that are ideal for coupling with intermittent renewable energy sources like solar and wind due to their fast response times.

Key Projects & Initiatives:

• Developing and deploying multi-megawatt electrolyzer systems globally.

• Collaborating on major projects such as the H2Mare offshore wind-to-hydrogen initiative.

• Focusing on integrating electrolysis with industrial processes for sector coupling.

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7️⃣ 4. Shell plc

Headquarters: London, United Kingdom
Key Offering: Integrated green hydrogen hubs, refueling stations, and energy solutions

Shell is leveraging its global energy project management expertise to become a leading player in green hydrogen. The company is developing large-scale integrated hubs that combine renewable power generation with electrolysis to produce hydrogen for industry, power, and mobility applications.

Key Projects & Initiatives:

• Developing the Holland Hydrogen I project, a 200MW electrolyzer in the Netherlands.

• Investing in hydrogen refueling networks for trucks and light-duty vehicles.

• Leading the development of the NortH2 project, a massive green hydrogen cluster in the North Sea.

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6️⃣ 5. China Huaneng Group Co., Ltd.

Headquarters: Beijing, China
Key Offering: Utility-scale green hydrogen projects integrated with renewable power

As one of China’s “Big Five” power generation companies, China Huaneng is at the forefront of the country’s push into green hydrogen. The company is deploying large-scale projects that capitalize on its vast portfolio of renewable energy assets, particularly in remote, resource-rich regions.

Key Projects & Initiatives:

• Pioneering major green hydrogen demonstration projects in Inner Mongolia and other regions.

• Integrating hydrogen production with existing coal chemical operations to reduce carbon footprint.

• Actively researching and deploying alkaline and PEM electrolysis technologies.

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5️⃣ 6. Bloom Energy Corporation

Headquarters: San Jose, California, USA
Key Offering: Solid Oxide Electrolyzer Cells (SOEC) and integrated power solutions

Bloom Energy is distinguished by its high-efficiency Solid Oxide technology. Its electrolyzers can produce more hydrogen per unit of electricity compared to competing technologies, especially when integrated with external heat sources, making them highly suitable for industrial applications.

Key Projects & Initiatives:

• Deploying its high-efficiency SOEC electrolyzers at customer sites for industrial decarbonization.

• Focusing on applications where high-purity hydrogen is required or waste heat is available.

• Partnerships with major industrial players to scale the technology.

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4️⃣ 7. ENGIE

Headquarters: La Défense, Courbevoie, France
Key Offering: Renewable H2 production, project development, and mobility solutions

ENGIE, a global leader in low-carbon energy and services, has made green hydrogen a central pillar of its strategy. The company is developing a diverse portfolio of projects across the value chain, from large-scale production to distribution and end-use, particularly in Europe and Latin America.

Key Projects & Initiatives:

• Developing the “HyGreen Provence” project, a major solar-powered hydrogen production facility.

• Leading the “Green Hydrogen Catapult” initiative to accelerate the scale-up of green hydrogen.

• Active in over 30 green hydrogen projects worldwide.

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3️⃣ 8. ITM Power plc

Headquarters: Sheffield, United Kingdom
Key Offering: PEM electrolysis stacks and integrated hydrogen energy systems

ITM Power is a specialist in Proton Exchange Membrane (PEM) electrolysis technology. The company manufactures electrolyzer stacks and integrated systems for a range of applications, from refueling stations to large-scale industrial projects, and is rapidly scaling its manufacturing capacity.

Key Projects & Initiatives:

• Operating the world’s largest PEM electrolyzer factory in Sheffield, UK.

• Supplying refueling station solutions for buses, cars, and trucks across Europe.

• Collaborating on gigawatt-scale project development with major partners like Linde.

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2️⃣ 9. Nel ASA

Headquarters: Oslo, Norway
Key Offering: Alkaline and PEM electrolyzers, and hydrogen refueling stations

Nel is one of the world’s oldest and most experienced pure-play hydrogen companies, offering both Alkaline and PEM electrolyzer technologies. This dual-track approach allows them to serve a wide range of market segments, from small-scale on-site generation to utility-scale multi-megawatt projects.

Key Projects & Initiatives:

• Automating and scaling up its electrolyzer production capacity to drive down costs.

• Securing contracts for large-scale projects, including a potential 2GW electrolyzer order.

• Maintaining a global network of hydrogen refueling stations (H2Station®).

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1️⃣ 10. McPhy Energy S.A.

Headquarters: Grenoble, France / La Motte-Fanjas, France
Key Offering: Alkaline electrolyzers and hydrogen storage solutions

McPhy specializes in integrated hydrogen solutions, combining its alkaline electrolyzer technology with solid-state hydrogen storage systems. This integrated approach is particularly valuable for providing stable hydrogen supply and managing the intermittency of renewable energy sources.

Key Projects & Initiatives:

• Selected to supply a 16MW electrolyzer for a German steel decarbonization project.

• Developing large-scale electrolyzer “gigafactories” in Europe to meet rising demand.

• Focusing on providing turnkey solutions for industrial and mobility applications.

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Green Hydrogen Production Market – View in Detailed Research Report

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🌍 Outlook: The Future of Green Hydrogen Is Rapidly Scaling and Innovating

The green hydrogen market is in a phase of unprecedented acceleration. Moving from pilot projects to gigawatt-scale deployments, the industry is focused on driving down costs through technological innovation, economies of scale, and supportive policy frameworks.

📈 Key Trends Shaping the Market:

• Explosive growth in electrolyzer manufacturing capacity and project pipeline.

• Increasing policy support via mechanisms like the US Inflation Reduction Act and EU Hydrogen Strategy.

• Strategic partnerships and joint ventures between energy companies, technology providers, and off-takers.

• Diversification of applications beyond refining to include steel, ammonia, and sustainable fuels.

Get Full Report Here:
Green Hydrogen Production Market – View in Detailed Research Report

The companies listed above are not only building a new energy industry—they are laying the groundwork for a decarbonized global economy.