Top Hydrogen Companies

The global hydrogen market is projected to reach USD 312.90 billion by 2030 from USD 225.12 billion in 2025, registering a CAGR of 6.8%. The hydrogen market is on a growth trajectory driven by the increasing trend of switching to low-emission and sustainable energy solutions for transportation, power generation, and industrial uses. The current supportive broader political environment, decarbonization targets, and hydrogen infrastructure are enabling expansion in the level of adoption. Advances in electrolysis, fuel cells, and storage technology are steadily reducing production costs—especially for green hydrogen—improving its commercial viability and enabling more scalable projects. Partnerships between governments, private energy players, and industrial firms are creating hydrogen supply chains with growing scale and export potential.

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Major players in the Hydrogen market include Linde plc (Ireland), Air Liquide (France), Air Products and Chemicals, Inc. (US), Chart Industries (US), and Shell plc (UK). These global firms employ growth strategies to improve their market position, including signing long-term service contracts, collaborations, acquisitions, expansions, joint ventures, and agreements to enhance the capabilities of their product portfolio. For example, in December 2024, Saudi Arabian Oil Co. entered into a shareholders' agreement with Linde plc and SLB to develop one of the world's largest carbon capture and storage (CCS) hubs in Jubail, Saudi Arabia. Aramco will hold a 60% stake in this deal, while Linde and SLB will hold 20%. The project aims to capture and store up to 9 million tonnes of CO2 annually by 2027 through a network of pipelines and underground storage in a saline aquifer. This CCS hub is also designed to support Aramco's blue hydrogen and ammonia programs by providing the carbon capture infrastructure needed to produce low-carbon fuels. In February 2025, Air Liquide entered into a strategic partnership with TotalEnergies to jointly develop two large-scale green hydrogen projects in the Netherlands, with a total investment of over USD 1 billion. First, Air Liquide will build, own, and operate the 200 MW "ELYgator" electrolyser at Maasvlakte in Rotterdam, supplying up to 23,000 tonnes of renewable hydrogen annually to TotalEnergies' industrial site—and using renewable power from the OranjeWind and Hollandse Kust Zuid offshore wind farms—expected online by the end of 2027. Second, the two companies have created a 50/50 joint venture to build a 250 MW electrolyser near the Zeeland refinery, set to produce about 30,000 tonnes of green hydrogen per year when it launches in 2029, reducing CO2 emissions at the Zeeland and Antwerp platforms by up to 450,000 tonnes annually.

Air Liquide is a French multinational company that provides industrial gases and services to various industries, such as pharmaceutical, chemical, and electronics. The company is the largest global supplier of industrial gases. It offers services to multiple industries, such as medical, electronics, and chemicals. It operates through six business segments: Industrial Merchant, Large Industries, Healthcare, Electronics, Global Market & Technologies, and Engineering & Construction. It offers hydrogen through its Large Industries business segment.

Hydrogen is the key component produced using electrolysis from renewable energies and biomethane reforming systems. Air Liquide focuses on increasing the production of renewable and low-carbon hydrogen. It has set up many hydrogen production units, which use electrolysis techniques, either by investments or joint ventures, to meet customer demands. In recent years, Air Liquide has made several strategic decisions, such as partnerships, contracts, and agreements, to position itself for growth in the Hydrogen market. For example, in May 2022, Air Liquide collaborated with Lotte, a major South Korean conglomerate, to make joint investments in cutting-edge, large-scale hydrogen refueling centers in South Korea. The initial two facilities will be strategically positioned in the industrial hubs of Daesan and Ulsan, with a focus on serving the densely populated regions within the Seoul metropolitan area.

Chart Industries is an independent global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling for the Nexus of Clean – clean power, clean water, clean food, and clean industrials, regardless of molecule. Chart Industries is a leading provider of technology, equipment, and services related to liquefied natural gas, hydrogen, biogas, and carbon capture, among other applications. The company operates through four segments, namely, Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing. The company offers hydrogen storage and transportation through the Specialty Products segment. In recent years, Chart Industries has made several strategic decisions, such as Joint ventures, partnerships, and contracts, to position itself for growth in the Hydrogen market. For example, In March 2024, Chart Industries has secured a major contract from Element Resources for its Lancaster Clean Energy Center in California—set to be one of the state's largest green hydrogen facilities, producing over 20,000 tonnes annually—supplying key cryogenic infrastructure including hydrogen liquefaction systems, storage tanks, compression units, liquid trailer loadout bays, transport units, and ISO containers. The company has geographic presence in the Americas, Europe, Asia, the Middle East & Africa.

Market Ranking

The Hydrogen market is moderately consolidated around a few leading players in the global share. The combined market share for Linde plc (Ireland), Air Liquide (France), Air Products and Chemicals, Inc. (US), Chart Industries (US), and Shell plc (UK) is between 25.0% and 30.0%, one of the highest revenue shares of industry players in the Hydrogen market. Linde plc is asserting its leadership in the hydrogen market through integrated production, liquefaction, and distribution systems backed by long-standing industrial gas expertise. Air Liquide is building momentum with wide deployment across mobility and industrial applications, underpinned by innovation and a strong refueling network. Air Products and Chemicals, Inc. is scaling aggressively with mega-projects and early positioning in blue and green hydrogen hubs. Chart Industries is deepening its role through cryogenic technology and system integration across hydrogen infrastructure. Shell plc embeds hydrogen within its global energy transition strategy, tying upstream production to downstream demand in mobility and industrial sectors. The Hydrogen market is evolving rapidly as these companies shape cost structures and ecosystem scale through vertical partnerships and multi-sector alignment.

Related Reports:

Hydrogen Market by Sector (Generation (Gray, Blue, Green), Storage (Physical, Material), Transportation (Long, Short)), Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Petroleum, Ammonia, Methanol), and Region - Global Forecast to 2030

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