The Global Hydrogen for Mobility Market was valued at USD 3.2 Billion in 2024 and is projected to reach USD 15.6 Billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 18.4% during the forecast period. This explosive growth is being driven by a global mandate for decarbonization, stringent emission regulations across major economies, and multi-billion dollar investments in hydrogen production and refueling infrastructure.

As the world urgently transitions away from fossil fuels in transport, hydrogen has emerged as a critical pillar for sectors where battery electrification faces significant challenges. This includes long-haul trucks, buses, trains, maritime vessels, and even aviation. In this blog, we profile the Top 10 Companies in the Hydrogen for Mobility Industry—a dynamic mix of industrial gas giants, energy supermajors, and specialized innovators who are building the green hydrogen ecosystem from molecules to mobility.

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🔟 10. Plug Power Inc.

Headquarters: Latham, New York, USA
Key Offering: Proton Exchange Membrane (PEM) Electrolyzers, Fuel Cell Systems, Hydrogen Fueling Solutions

Plug Power is a leader in comprehensive hydrogen fuel cell turnkey solutions, with a strong focus on the material handling, on-road vehicles, and stationary power markets. The company operates one of the largest liquid hydrogen networks in the U.S. and aims to produce 500 tons per day of green hydrogen by 2025, building a fully integrated “hydrogen ecosystem.”

Strategic Mobility Initiatives:

• Strategic partnerships with Renault, SK Group, and Airbus to develop fuel cell light commercial vehicles and aviation applications.
• Deployment of over 60,000 fuel cell systems for electric forklifts and logistics vehicles globally.
• Expanding its network of hydrogen highway stations to support Class 8 trucking.

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9️⃣ 9. Nel ASA

Headquarters: Oslo, Norway
Key Offering: Alkaline and PEM Electrolyzers, Hydrogen Refueling Stations (HRS)

Nel is one of the world’s oldest and most experienced electrolyzer companies, with a technology portfolio that produces renewable hydrogen. Its hydrogen fueling division provides HRS solutions globally, supporting the rollout of fuel cell cars, trucks, and buses with industry-leading refueling technology.

Strategic Mobility Initiatives:

• A strategic partner for major energy companies in developing multi-hundred MW green hydrogen projects for transport fuel.
• Supplied over 150 hydrogen stations across more than 15 countries.
• Key contracts include building Europe’s largest HRS network and supplying electrolyzers for heavy-duty truck refueling corridors.

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8️⃣ 8. Taiyo Nippon Sanso Corporation

Headquarters: Tokyo, Japan
Key Offering: Hydrogen Production & Supply, On-site Generation, Liquid Hydrogen Infrastructure

Operating as part of the Mitsubishi Chemical Holdings Group, Taiyo Nippon Sanso is a leading industrial gas company in Asia with extensive expertise in hydrogen. It is deeply involved in Japan’s national hydrogen strategy, supplying fuel for fuel cell vehicles (FCEVs) and developing liquid hydrogen supply chains.

Strategic Mobility Initiatives:

• Operates a key network of hydrogen refueling stations across Japan.
• Involved in technology development for large-scale liquid hydrogen transport, crucial for importing green hydrogen.
• Collaborates with Japanese automakers to ensure stable hydrogen supply for growing FCEV fleets.

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7️⃣ 7. Shell plc

Headquarters: London, United Kingdom
Key Offering: Hydrogen Refueling Stations (HRS), Green Hydrogen Production, Fuel Supply Agreements

Shell is leveraging its global retail network and energy expertise to become a leading provider of hydrogen for mobility. The company is actively building refueling corridors for heavy-duty transport in key markets like Germany, the Netherlands, and California, while investing in large-scale electrolysis projects.

Strategic Mobility Initiatives:

• Plans to operate 390 hydrogen refueling stations globally by 2025.
• Investing in green hydrogen hubs like the 200MW Holland Hydrogen 1 project in the Netherlands.
• Key partner in the “H2Accelerate” consortium to enable Europe-wide hydrogen trucking.

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6️⃣ 6. TotalEnergies SE

Headquarters: Paris, France
Key Offering: Hydrogen Refueling Solutions, Investment in Green Hydrogen Production

TotalEnergies is committed to developing carbon-neutral hydrogen for mobility as part of its broader energy transition goals. The company is building a network of hydrogen stations across major European corridors and investing in joint ventures for large-scale renewable hydrogen production.

Strategic Mobility Initiatives:

• Co-owns and operates a network of over 100 hydrogen stations in Germany, Netherlands, Belgium, and France with Air Liquide.
• Investor in the *Masshylia* project, a 40MW solar-powered green hydrogen plant in France aimed at decarbonizing mobility and industry.
• Partners with major truck manufacturers to decarbonize long-haul freight.

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5️⃣ 5. China Energy Investment Corporation (CHN Energy)

Headquarters: Beijing, China
Key Offering: Large-scale Hydrogen Production (Grey/Blue/Green), Fuel Supply for FCEVs

As one of China’s largest state-owned power generators, CHN Energy is a central player in the country’s hydrogen economy. It is heavily involved in piloting hydrogen applications in transport, from fuel cell trucks and buses to hydrogen-powered trains, leveraging its massive energy production assets.

Strategic Mobility Initiatives:

• Leading numerous “Hydrogen Corridor” projects, integrating production, storage, and refueling for heavy-duty transport.
• Pilot projects for hydrogen fuel cell vehicles in major Chinese cities and ports.
• Investing in renewable energy-powered electrolysis to transition its hydrogen supply to green sources.

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4️⃣ 4. Tokyo Gas Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Hydrogen Production from City Gas, HRS Network Operation, Methanation Technology

Tokyo Gas is a cornerstone of Japan’s push for a hydrogen society. The company utilizes its existing gas infrastructure and expertise to produce and distribute hydrogen, operating a critical portion of the country’s refueling station network and researching synthetic methane (e-methane) as a transport fuel.

Strategic Mobility Initiatives:

• Operates over 30 hydrogen refueling stations in the Kanto region, a key hub for FCEVs.
• Collaborating with automakers like Toyota and Honda on hydrogen supply and utilization technology.
• Developing technologies to transport hydrogen by converting it into methylcyclohexane (MCH).

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3️⃣ 3. China Petroleum & Chemical Corporation (Sinopec)

Headquarters: Beijing, China
Key Offering: Integrated Hydrogen Production & Refueling, Green Hydrogen Projects, FCEV Promotion

Sinopec, one of the world’s largest oil refiners, is aggressively pivoting to become China’s dominant hydrogen company. It is uniquely positioned to co-locate low-carbon hydrogen production at its vast refinery network and convert thousands of its gas stations into combined gasoline-hydrogen refueling hubs.

Strategic Mobility Initiatives:

• Announced target to build 1,000 hydrogen refueling stations by 2025.
• Commissioned the world’s largest solar-powered green hydrogen plant in Xinjiang (260MW electrolyzer, 20,000 tons/year).
• Active in fuel cell vehicle manufacturing partnerships and fleet operation pilots.

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2️⃣ 2. Air Products and Chemicals, Inc.

Headquarters: Allentown, Pennsylvania, USA
Key Offering: Hydrogen Production & Supply, Liquefaction, HRS Technology, Mega-Scale Green Hydrogen Projects

Air Products is a global hydrogen pioneer with over 60 years of experience. It is investing billions to lead the energy transition, focusing on massive, multi-continent green and blue hydrogen projects that will supply clean fuel for mobility and industry on an unprecedented scale.

Strategic Mobility Initiatives:

• Investing $7 billion in NEOM (Saudi Arabia) to produce 650 tons/day of green hydrogen for export as ammonia, with potential for mobility use globally.
• Developing a landmark net-zero hydrogen energy complex in Edmonton, Canada, to fuel the Western Canadian transportation corridor.
• Key supplier of hydrogen and technology for vehicle refueling stations worldwide.

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1️⃣ 1. Air Liquide S.A.

Headquarters: Paris, France
Key Offering: Comprehensive Hydrogen Solutions, Electrolyzers, Global HRS Network, Liquid Hydrogen Logistics

Air Liquide is arguably the world’s most integrated and experienced player in the hydrogen for mobility value chain. With decades of industrial gas leadership, the company is involved in every step: from large-scale low-carbon production and cryogenic distribution to owning and operating one of the largest networks of hydrogen refueling stations globally.

Strategic Mobility Initiatives:

• Operates over 200 hydrogen stations worldwide, with a target of operating 400 by 2025.
• Investing over €8 billion in the low-carbon hydrogen value chain by 2035.
• Pioneering large-scale liquid hydrogen logistics for heavy transport and partnered with key players like Toyota and Hyundai.

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🌍 Outlook: The Future of Mobility is Hydrogen-Powered and Networked

The hydrogen for mobility market is at a pivotal inflection point. Moving beyond pilot projects, the industry is now scaling up to establish robust supply chains and viable business models. The success of this transition hinges on continued technological innovation, cost reduction through scale, and unwavering policy support.

📈 Key Trends Shaping the Market:

• Heavy-Duty Focus: Commercial trucks, buses, and trains are becoming the primary adoption drivers, leveraging hydrogen’s range and refueling speed advantages over batteries.
• Green Hydrogen Mandates: Regulations are increasingly favoring hydrogen produced from renewable sources (green hydrogen) to ensure true lifecycle emissions reductions.
• Infrastructure-Led Growth: Strategic deployment of refueling corridors (e.g., in Europe, California, Japan, and China) is catalyzing vehicle deployment, creating a positive feedback loop.
• Cross-Sector Synergies: Integration with industrial decarbonization (using by-product hydrogen) and power sector balancing (using electrolyzers) is improving project economics.

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Global Hydrogen for Mobility Market – View in Detailed Research Report

The companies profiled above are not just supplying a fuel—they are engineering the foundational ecosystem for a critical pillar of global decarbonization. Their investments and partnerships today are laying the groundwork for the zero-emission transport networks of tomorrow.