Hydrogen Generation Market

Linde plc (Ireland), Air Products and Chemicals, Inc. (US) and Saudi Arabian Oil Co. (Saudi Arabia) are leading players in Hydrogen Generation Market

The global hydrogen generation market is projected to reach USD 257.9 billion by 2028 from an estimated USD 158.8 billion in 2023, at a CAGR of 10.2% during the forecast period. The rising safety concerns, increasing focus on renewable energy, and the growing demand for electricity is driving the growth of the hydrogen generation market.

Due to their strong supply network, a few global and regional players hold a strong foothold in the hydrogen generation market. Linde plc (Ireland), Air Liquide (France), Air Products and Chemicals, Inc. (US),  Saudi Arabian Oil Co. (Saudi Arabia), and Shell plc (UK) are the market leaders in the hydrogen generation market. These companies have adopted strategies such as product launches, partnerships,  acquisitions, and expansions to increase their market share.

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Linde plc provides industrial gases and high-quality engineering solutions, technologies, and services. The company is the largest industrial gas firm globally in terms of market share and revenue. It operates through five business segments: Americas, EMEA, APAC, Engineering, and Other. It serves customers from the healthcare, petroleum refining, manufacturing, food & beverage carbonation, fiber optics, aerospace, chemical, electronics, and water treatment verticals. Linde plc’s products are divided into two main categories: gases and engineering. The company is involved in manufacturing and distributing atmospheric, medical, and industrial gases, such as hydrogen, helium, oxygen, and synthesis gases, through these categories. Its industrial gases are utilized for many applications, including lifesaving oxygen, specialty gases for electronics manufacturing, and hydrogen for clean fuels. Linde plc has over 4,000 manufacturing plants and a presence in more than 100 countries. As hydrogen is an important feedstock for the chemical industry, the company’s plants produce high-purity and low-carbon intensity hydrogen.

Saudi Arabian Oil Co., also known as Saudi Aramco, is a Saudi state-owned oil firm and one of the world’s largest integrated energy corporations. The company operates under three main business segments, namely, Downstream, Upstream, and Corporate.Saudi Arabian Oil Co. offers hydrogen through the Upstream segment. The downstream segment also deals with the supply and marketing of refining and petrochemicals, base oils and lubricants, retail operations, distribution, supply & trading, and power generation. Saudi Aramco produces hydrogen from natural gas through steam methane reforming (SIM) and other processes. The company has also looked Into carbon capture technologies for producing blue hydrogen. Saudi Aramco partnered with international companies to further develop hydrogen ambitions. For instance, in 2021, Saudi Aramco signed an MoU with Air Products & Chemicals, Inc. (US) to create and deploy blue hydrogen in Saudi Arabia.

Air Products and Chemicals, Inc. is a leading global industrial gas company providing its services for developing, engineering, building, and operating industrial gas projects. The company has five business segments, namely,  Americas,  Europe,  Asia,  Middle East and India, and Corporate and Other. It offers products and solutions to produce atmospheric, process, and specialty gases and related services.The company caters to various industries and sectors, such as manufacturing, chemical, refinery, metal, and food & beverage. Air Products and Chemicals, Inc. has manufacturing facilities in the US. The company has a presence in 52 countries. Its major competitors in the hydrogen generation market include Linde plc and Air Liquide, and some local and regional players.

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Hydrogen Generation Market by Technology (SMR, ATR, POX, Coal Gasification, Electrolysis), Application (Refinery, Ammonia, Methanol, Transportation, Power Generation), Source (Blue, Green, Gray), Generation Mode Region - Global Forecast to 2028

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Hydrogen Generation Market Size,  Share & Growth Report
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