Check out the leading companies actively operating in the green hydrogen market below.
- ACWA Power (2004) - ACWA Power is the first company to move forward in the green hydrogen industry in the nation. The company’s portfolio includes 81 operational projects in 12 countries and offices in 14 countries across the globe. The company has most of its assets in Saudi Arabia, with a significant presence in the Middle East and Central Asia. Its renewables segment comprises PV, CSP, wind plants and green hydrogen.
The company has the capacity to generate 55 GW of power and produce 7.6 million m3/day of desalinated water per day.
Global Headquarters - Riyadh, Kingdom of Saudi Arabia
Revenue 2023 ($ Millions) - 1,625.3
Main Business Segment - Renewables
- BP p.l.c. (1909) - BP plc offers energy products and services across various end-use industries. It operates in 61 countries across the globe with 21,100 retail sites. Its gas and low carbon energy business segment offers green hydrogen and its related solutions. Its gas business comprises regions with upstream activities that mainly produce natural gas, integrated gas and power and gas trading.
BP is engaged in the production of green hydrogen to consume at its refineries. The company is also planning to invest in global export hubs for hydrogen and hydrogen derivatives like ammonia.
Global Headquarters - London, United Kingdom
Revenue 2023 ($ Millions) - 2,10,130.0
Main Business Segment - Gas & Low Carbon Energy
- ITM Power PLC (2000) - ITM Power specializes in designing and manufacturing electrolyzers based on PEM technology to produce green hydrogen using renewable electricity and water. The company has a single production plant in the U.K. that manufactures products worldwide for different industrial applications.
Global Headquarters - Sheffield, United Kingdom
Revenue 2023 ($ Millions) - 20.7
Main Business Segment – Electrolyzer
- Air Liquide (1902) - Air Liquide started providing products and services in the hydrogen industry in 1995. Air Liquide, one of the largest providers of industrial gases and services, operates in 73 countries and has over 600 production units globally. It is one of the major merchant hydrogen producers and has one of the largest pipeline networks.
Global Headquarters – Paris, France
Revenue 2023 ($ Millions) – 29,860.8
Main Business Segment – Gas & Services
- Bloom Energy (2001) - Bloom Energy is an American organization specializing in designing, manufacturing and installing solid oxide electrolyzers and fuel cell systems for on-site power generation and hydrogen. It has a presence in 1,200 locations and seven countries and offers its technology in different industries, including healthcare, data centers and critical manufacturing. The company ventures into hydrogen electrolyzers, hydrogen fuel cells and biogas utilization.
Global Headquarters – California, United States
Revenue 2023 ($ Millions) – 1,333.5
Main Business Segment – Solid Oxide Elevtrolsis Cells (SOEC)
- Cummins Inc. - It was founded in 1919 in Columbus, Ind., as the Cummins Engine Company and was one of the first to produce diesel engines. Cummins Inc. became the company’s name in 2001. Among its many power-related products are filtration, after-treatment, fuel systems, turbochargers, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, batteries, electrified power systems, electric powertrains, hydrogen production and fuel cell products.
Global Headquarters – Indiana, United States
Revenue 2023 ($ Millions) – 34,065
Main Business Segment – Accelera
- Linde PLC (1879) - Linde plc was formed under the laws of Ireland and has its principal offices in the U.S. and the U.K. It is among the largest producers of industrial gases, including atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene).
One of Linde’s engineering specialties is designing and building hydrogen-producing partial oxidation units for refineries. Its engineering division offers various process plants like air separation plants, hydrogen & synthesis gas plants, petrochemical plants, absorption & membrane plants, etc.
Global Headquarters – England, United Kingdom
Revenue 2023 ($ Millions) – 32,854
Main Business Segment – Industrial Gases and Linde Engineering
- Plug Power Inc. (1997) - Plug Power offers end-to-end integrated hydrogen solutions, including fuel cells, PEM electrolyzers, hydrogen liquefiers and liquid hydrogen cryogenic solutions. It also produces liquid hydrogen. As of 2023, the company had deployed more than 69,000 fuel cell systems for forklifts and more than 250 fueling stations.
The company focuses mainly on industrial mobility applications, including electric forklifts and industrial vehicles, hydrogen production and stationary power systems. The company has 95 MW of Plug electrolyzer capacity globally and collectively produces more than 1,500 metric tons of hydrogen.
Global Headquarters – New York, United States
Revenue 2023 ($ Millions) – 891.3
Main Business Segment – Electrolyzers
- Engie SA (1858) - Engie is a French multinational utility company headquartered in Courbevoie. It operates in electricity generation and distribution, natural gas, nuclear energy, renewable energy and petroleum. The company is committed to providing access to sustainable energy and abating the effects of climate change. Its renewable business includes onshore wind, offshore wind, solar PV and hydro.
Its FlexGen business segment also offers solutions to decarbonize the industry with low-carbon hydrogen.
Global Headquarters – France
Revenue 2023 ($ Millions) – 89,302.3
Main Business Segment – Networks and FlexGen
- McPhy Energy S.A. (2008) - McPhy Energy is a specialist in low-carbon hydrogen production and distribution equipment. It manufactures electrolyzers and other components for hydrogen energy storage. As a designer, manufacturer and integrator of hydrogen equipment, the company has three development, engineering and production units based in Belfort (France), San Miniato (Italy) and Wildau (Germany).
Global Headquarters – Grenoble, France
Revenue 2023 ($ Millions) – 20.3
Main Business Segment – Electrolyzers
Conclusion: The green hydrogen market is on an exciting trajectory, with growth driven by technological advancements, supportive policies, and increasing demand for sustainable energy solutions. While challenges exist, the opportunities and potential for positive environmental impact make green hydrogen a crucial element of the global energy landscape. As we move toward a more sustainable future, green hydrogen is set to play a pivotal role in shaping the energy systems of tomorrow.
