Green Hydrogen Companies

The green hydrogen market is projected to grow from USD 2.79 billion in 2025 to USD 74.81 billion by 2032, at a CAGR of 60.0% during the forecast period. Green hydrogen is increasingly utilized in various industries like power, grid injection, mobility, and industrial processes. The countries are aggressively moving towards emission-free economies, with the green hydrogen economy being a top strategy. In the mobility sector, Fuel Cell Electric Vehicles (FCEVs) that use hydrogen are gaining traction due to their high power-to-weight ratio and quick refueling times compared to conventional electric vehicles. In the shipping industry, green ammonia is emerging as a preferred fuel due to its higher energy density and its compatibility with existing engines and fuel cells.

Air Products and Chemicals, Inc. (US), Siemens Energy (Germany), Air Liquide S.A. (France), ENGIE (France), and Uniper SE (Germany) fall under the stars’ category. These are the leading players in the global green hydrogen market. These players have adopted strategies such as acquisitions, expansions, partnerships, and investments to increase their market share.

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Air Liquide S.A. (France)

Air Liquide is a global leader in industrial gases, technologies, and services, serving a range of industries, including healthcare, electronics, and others. The Group supplies oxygen, nitrogen, hydrogen, and specialty gases, providing associated equipment and services worldwide. The company has three main business segments: Gas & Services, Engineering & Construction, and Global Markets & Technologies. The Gas & Services businesses encompass four key business lines to better support changes and meet the diverse needs of various markets: large industries, industrial merchant, healthcare, and electronics. The large industries business line supplies industrial gases by operating central production units. Industrial merchant supplies a wide range of different gases, application equipment, and associated services. Healthcare supplies medical gases, equipment, and services to hospitals and directly to patients in their homes. Electronics supplies gases and materials (complex molecules) used in manufacturing processes, as well as equipment and services, mainly used to produce semiconductors, but also flat screens and photovoltaic panels.

The Global Markets & Technologies business unit invests in and operates biomethane production units to recover agricultural, household, or industrial waste as part of a circular economy approach. The Engineering & Construction unit is engaged in the development of industrial gases, energy conversion, gas purification, and CO2 capture technologies, as well as renewable and low-carbon hydrogen; it enables customers to optimize the use of natural resources.
Air Liquide operates in 60 countries across regions, including the Americas, Europe, the Middle East & Africa, and Asia Pacific.

Air Products and Chemicals, Inc. (US)

Air Products has been a leading industrial gases company for over 80 years. The company focuses on serving energy, environmental, and emerging markets, aiming to generate a cleaner future. Air Products supplies essential industrial gases, related equipment, and applications expertise to customers across a wide range of industries, including refining, chemicals, metals, electronics, manufacturing, medical, and food processing. As one of the world’s leading suppliers of hydrogen, the company also develops, engineers, builds, owns, and operates some of the most significant clean hydrogen projects, enabling the global transition to low- and zero-carbon energy for industrial and heavy-duty transportation sectors. Additionally, through the sale of its equipment businesses, Air Products provides turbomachinery, membrane systems, and cryogenic containers to customers worldwide.

The regional industrial gases segment manufactures and supplies a broad range of products, including atmospheric gases such as oxygen, nitrogen, and argon; process gases such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas (a mixture of hydrogen and carbon monoxide); as well as specialty gases. The Corporate and other segment includes sales of turbo machinery equipment and services, as well as cryogenic and gas processing equipment for air separation, and helium and hydrogen transport and storage containers. The company operates its businesses in more than 50 countries across regions, including the Americas, Europe, Asia Pacific, and the Middle East & Africa.

ENGIE (France)

Engie is a French multinational electric utility company headquartered in La Défense, Courbevoie, operating in various industries like energy transition, electricity generation, distribution, natural gas, nuclear, renewable energy, and petroleum. The company was formed on July 22, 2008, with the merger of Gaz de France and Suez. It is one of the few players in the industry to develop expert skills in both upstream (engineering, purchasing, operation, and maintenance) and downstream (waste management and dismantling) activities. It has mainly six business segments: supply, energy solutions, thermal, networks, renewables, and nuclear.

Engie delivers electricity, natural gas, and energy-related services. The firm offers thermal energy, hydropower, solar energy, onshore and offshore wind power, facility management, and heat generation services. It has a wide geographical presence across Europe, North America, South America, the Middle East, Asia, and Oceania.

Uniper SE (Germany)

Uniper SE provides energy and services, including power generation, global energy trading, energy sales, energy storage, and energy services. It operates through the following two segments: European generation and international commodities. The European generation segment comprises power and heat generation facilities that the Uniper Group operates in Europe. The international commodities segment consolidates energy trading activities and serves as a commercial interface for these transactions. The fuels required for power generation are procured, emission allowances are traded, the electricity produced is marketed, and the portfolio is optimized by managing the use of the power plants. The International Power Generation segment combines the operating power generation businesses of the Uniper Group in Russia and Brazil. The company was founded in January 2016 and is headquartered in Düsseldorf, Germany. It owns a subsidiary company in Russia called Unipro. The company has a broad geographical reach across Europe and Russia.

Siemens Energy (Germany)

Siemens Energy is an energy company formed by the spin-off of the former gas & power division of the Siemens Group, which includes a prominent share (67%) of Siemens Gamesa. The company provides energy technology solutions. It operates through two segments: gas & power and Siemens & Gamesa renewable energy. The gas & power segment offers a wide range of products and services in power transmission and conventional central and distributed power generation, alongside industrial applications for the oil & gas industry and industrial process applications.

The Siemens & Gamesa renewable energy segment focuses on promotion, design, manufacturing, and the supply of technologically advanced products in the renewable energy sector, with a particular emphasis on wind power plants. The company aims to integrate renewables into developed industry, energy, and mobility infrastructures using Power-to-X solutions that utilize green hydrogen. Green hydrogen is generated through proton exchange membrane (PEM) electrolysis, assisted by renewable energy.

The company focuses on developing green hydrogen and essential projects such as the DEWA green hydrogen project (Dubai). It has an operational plant in Austria and a wide geographical presence across Europe, the Middle East & Africa, America, Asia, and Australia.

Market Ranking

The green hydrogen market is consolidated, with five major players, Air Liquide S.A. (France), Air Products and Chemicals, Inc. (US), Uniper SE (Germany), ENGIE (France), and Siemens Energy (Germany), collectively accounting for 60–65% of the global market share. Air Liquide leads through its extensive investments in electrolyzer capacity, hydrogen refueling infrastructure, and large-scale production facilities supporting industrial decarbonization and clean mobility initiatives. Air Products and Chemicals has established a strong global presence through multi-billion-dollar hydrogen projects focused on renewable hydrogen production and liquefaction technologies. Uniper SE continues to expand its role in integrating renewable power with hydrogen generation and storage, supporting energy transition strategies across Europe. ENGIE remains a key player in renewable hydrogen development by leveraging its renewable energy assets and advancing large-scale electrolysis projects to achieve carbon neutrality targets. Siemens Energy drives technological innovation with advanced PEM electrolysis systems and power-to-hydrogen solutions that enhance production efficiency and scalability. The remaining market share is distributed among regional and emerging participants investing in localized hydrogen ecosystems, including production, distribution, and end-use applications tailored to national sustainability and energy transition goals.

Related Reports:

Green Hydrogen Market By Technology (Alkaline, PEM), Renewable Source (Wind, Solar), End-use Industry (Mobility, Power, Chemical, Industrial, Grid Injection), and Region (North America, Europe, APAC, MEA, and Latin America) - Global Forecast to 2032

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