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Hydrogen Market Share

Report ID: GMI5021
Published Date: Nov 2024
Report Format: PDF

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Hydrogen Market Share

The competitive landscape in the hydrogen industry includes a mix of traditional energy companies, specialized hydrogen producers, and technology developers. The hydrogen industry competitiveness varies by region, driven by different regulatory frameworks, decarbonization goals, and the pace of innovation. Growing number of private companies are entering the hydrogen space, attracted by decarbonization opportunities. Venture capital and private equity firms are investing in both upstream hydrogen production and downstream applications like fuel cells and mobility.

Hydrogen Market Companies

Eminent players operating in the hydrogen industry are:

Air Liquide
Air Products & Chemicals
Ally Hi Tech
Ballard Power Systems
Caloric
Claind
Cummins
ENGIE
HyGear
Infinite Green Energy
Iwatani Corporation
Linde
Mahler AGS
Mcphy Energy
Messer
Nel ASA
Nuvera Fuel Cells
Plug Power
Resonac Holdings Corporation
Taiyo Nippo Sanso Corporation
Teledyne Technologies Incorporated
Xebec Adsorption

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of hydrogen reached USD 204.5 billion in 2024 and is set to grow at a 12.3% CAGR from 2025 to 2034, driven by favorable government regulations and increasing focus on clean energy.

The petroleum refinery segment is anticipated to surpass USD 409 billion by 2034, propelled by the increasing demand for hydrogen to reduce sulfur levels in diesel and gasoline.

The U.S. market is expected to cross USD 36 billion by 2034, led by significant efforts from government agencies and the adoption of hydrogen fuel cell vehicles.

The key players in the industry include Air Liquide, Air Products & Chemicals, Ally Hi Tech, Ballard Power Systems, Caloric, Claind, Cummins, ENGIE, HyGear, Infinite Green Energy, Iwatani Corporation, Linde, Mahler AGS, Mcphy Energy, Messer, Nel ASA, Nuvera Fuel Cells, Plug Power, Resonac Holdings Corporation, Taiyo Nippo Sanso Corporation, Teledyne Technologies Incorporated, and Xebec Adsorption.