The Global Industrial Hydrogen Market was valued at US$ 124.19 Billion in 2022 and is projected to reach US$ 156.62 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 3.4% during the forecast period (2023–2029). This growth reflects the expanding role of hydrogen in industrial processes, fueled by rising demand in refining, chemicals, and ammonia production, alongside the global push toward sustainable production methods like electrolysis for green hydrogen to support decarbonization efforts across sectors.

As industries pivot toward cleaner energy solutions and net-zero goals, attention turns to the major producers and suppliers powering this transition. The industrial hydrogen sector is essential, providing a versatile gas used in everything from oil refining to metal processing and fertilizer manufacturing. In this blog, we profile the Top 10 Companies in the Industrial Hydrogen Market—a blend of established industrial gas giants, chemical innovators, and emerging leaders in low-carbon hydrogen shaping the future of energy and manufacturing.

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🔟 1. Linde plc

Headquarters: Woking, Surrey, United Kingdom
Key Offering: Compressed Hydrogen Gas, Liquid Hydrogen, Green Hydrogen via Electrolysis

Linde plc stands as one of the world’s largest industrial gas companies, with a significant footprint in hydrogen production and distribution. The company supplies high-purity hydrogen for applications in refining, chemicals, and electronics, operating numerous production facilities globally and investing in large-scale electrolysis projects to support the shift to green hydrogen.

Sustainability Initiatives:

• Development of the world’s largest electrolyzer at its Leuna site in Germany, aiming for 24 MW capacity

• Partnerships for blue hydrogen projects with carbon capture and storage (CCS)

• Commitment to net-zero emissions across operations by 2050, with interim targets for renewable energy use

Download FREE Sample Report: Industrial Hydrogen Market – View in Detailed Research Report

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9️⃣ 2. Air Liquide

Headquarters: Paris, France
Key Offering: Industrial Hydrogen, Merchant Hydrogen, Hydrogen Energy Solutions

Air Liquide is a global leader in gases and technologies, producing hydrogen through steam methane reforming and renewable electrolysis to serve industries like ammonia synthesis, refining, and fuel cells across its network of over 1,300 production units worldwide.

Sustainability Initiatives:

• Investment in a 200 MW electrolysis project in the Netherlands for green hydrogen

• ADVANCED CLEAN ENERGIES plan targeting 3-5 GW of low-carbon hydrogen capacity by 2035

• Collaborations with governments and industries to deploy hydrogen infrastructure for mobility

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8️⃣ 3. Air Products and Chemicals, Inc.

Headquarters: Allentown, Pennsylvania, USA
Key Offering: Gaseous Hydrogen, Liquid Hydrogen, On-Site Hydrogen Generation

Air Products has been a pioneer in industrial gases since 1940, providing tonnage-scale hydrogen for refining and chemicals through some of the world’s largest merchant plants, with expertise in cryogenic and compression technologies for efficient delivery.

Sustainability Initiatives:

• Massive $4.5 billion investment in NEOM green hydrogen project in Saudi Arabia, producing 650 tons per day

• Goal to achieve carbon neutrality in operations by 2025 through energy efficiency and renewables

• Supply of clean hydrogen to steelmakers for emission reductions in metalworking

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7️⃣ 4. Taiyo Nippon Sanso (now part of Iwatani Corporation)

Headquarters: Tokyo, Japan
Key Offering: High-Purity Hydrogen, Industrial Hydrogen Blends, Hydrogen Stations

Taiyo Nippon Sanso, integrated into Iwatani, specializes in hydrogen for Asia’s electronics, welding, and food processing sectors, delivering ultra-high purity gas for semiconductors and capitalizing on Japan’s hydrogen society initiatives with expansions into refueling infrastructure.

Sustainability Initiatives:

• Operation of Japan’s first commercial hydrogen station network

• Investment in biomass-derived hydrogen production to reduce fossil dependencies

• Targets for 20% renewable hydrogen in portfolio by 2030

Download FREE Sample Report: Industrial Hydrogen Market – View in Detailed Research Report

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6️⃣ 5. Messer Group

Headquarters: Bad Soden, Germany
Key Offering: Merchant Hydrogen, On-Site Hydrogen Production, Specialty Hydrogen Mixtures

Messer Group provides tailored gas solutions across Europe, the Americas, and Asia, using hydrogen in metallurgy, chemicals, and environmental applications through conventional reforming and low-emission technologies for supply security in refining.

Sustainability Initiatives:

• Expansion of green hydrogen facilities in Eastern Europe

• Partnerships for hydrogen use in sustainable steel production

• Commitment to ISO 14001 environmental management and zero-waste goals

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5️⃣ 6. Air Water Inc.

Headquarters: Osaka, Japan
Key Offering: Liquid Hydrogen, Compressed Hydrogen, Hydrogen for Electronics

Air Water Inc. focuses on hydrogen for Japan’s high-tech sectors like semiconductors and pharmaceuticals, using cryogenic technology for efficient transport and integrating electrolysis for cleaner production amid government-backed R&D.

Sustainability Initiatives:

• Development of hydrogen supply chains for fuel cell vehicles

• Investment in renewable-powered electrolysis plants

• Aim to increase low-carbon hydrogen output by 15% annually

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4️⃣ 7. Yingde Gases

Headquarters: Shanghai, China
Key Offering: Industrial Hydrogen Gases, On-Site Generation, Bulk Hydrogen Supply

Yingde Gases supplies hydrogen for China’s manufacturing and petrochemical sectors via cost-effective steam reforming, serving ammonia and methanol needs while pivoting to sustainable practices under the carbon neutrality agenda.

Sustainability Initiatives:

• Construction of large-scale hydrogen production bases with CCS integration

• Collaborations with steel giants for hydrogen-based direct reduction processes

• Targets aligned with China’s 2060 carbon neutrality goal, emphasizing green production

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3️⃣ 8. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Captive Hydrogen, Green Hydrogen for Chemicals, Hydrogen Peroxide

BASF generates captive hydrogen for internal ammonia and methanol processes and supplies merchant hydrogen, leveraging catalysis expertise for efficiency and extending to specialty chemicals in refining and manufacturing.

Sustainability Initiatives:

• Electrolyzer projects at its Ludwigshafen site for 100% green hydrogen by 2030

• Partnerships in the European Hydrogen Backbone for cross-border supply

• Net-zero roadmap with hydrogen central to Scope 3 emissions reduction

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2️⃣ 9. SABIC

Headquarters: Riyadh, Saudi Arabia
Key Offering: Hydrogen for Petrochemicals, Blue Hydrogen, Integrated Gas Solutions

SABIC utilizes hydrogen in refining and polymer production, benefiting from natural gas feedstocks as part of Saudi Aramco, producing at scale for Middle East complexes and transitioning to blue hydrogen via CCS.

Sustainability Initiatives:

• Plans for 1.5 million tons of blue hydrogen annually by 2035

• Investment in renewable hydrogen for ammonia production

• Alignment with Vision 2030 for sustainable industrial growth

Download FREE Sample Report: Industrial Hydrogen Market – View in Detailed Research Report

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1️⃣ 10. Reliance Industries Limited

Headquarters: Mumbai, India
Key Offering: Captive and Merchant Hydrogen, Green Hydrogen Ecosystems, Refinery Hydrogen

Reliance Industries produces hydrogen for its Jamnagar refining and petrochemical operations, supplying high-volume to domestic industries and developing massive green hydrogen capacity through its Dhirubhai Ambani Green Energy Giga Complex.

Sustainability Initiatives:

• Target of 100 GW renewable energy by 2030, powering green hydrogen production

• 25 million tons per annum green hydrogen equivalent capacity planned

• Partnerships with global tech firms for electrolyzer localization and scaling

Read Full Report: Industrial Hydrogen Market – View in Detailed Research Report

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🌍 Outlook: The Future of Industrial Hydrogen Is Greener and More Integrated

The industrial hydrogen market is experiencing profound changes, with traditional gray hydrogen dominating but surging investments in green and blue alternatives, advanced electrolysis, and global infrastructure to decarbonize sectors like refining and chemicals.

📈 Key Trends Shaping the Market:

• Explosion in green hydrogen projects, with electrolyzer capacity expected to grow exponentially in the EU, US, and China

• Government mandates and incentives for low-carbon hydrogen in refining and ammonia production

• Digital tools for hydrogen supply chain optimization, including blockchain for traceability

• Strategic alliances between gas suppliers, chemical firms, and governments to build hydrogen valleys and hubs

Read Full Report: Industrial Hydrogen Market – View in Detailed Research Report

The companies listed above are not only supplying essential industrial hydrogen—they’re leading the charge toward a hydrogen-fueled sustainable future.