The green hydrogen industry is experiencing rapid market penetration driven by strategic scaling of electrolyzer deployments and integration with offshore wind and hydropower infrastructure. Key players are accelerating production capacities through landmark projects that replace fossil-based hydrogen in industrial processes. The Global Green Hydrogen Market was valued at around USD 7.29 Billion in 2025 and is projected to reach USD 45.6 Billion by 2032, growing at a CAGR of 35.74% during 2026-32.
According to MarkNtel Advisors, key green hydrogen players play a significant role in sustaining this growing demand through innovative electrolyzer technologies and renewable-powered facilities. Shell Plc. exemplifies this with its 2025 Holland Hydrogen 1 project, a 200 MW PEM electrolyzer in Rotterdam, Netherlands, set to produce 60 tons of green hydrogen daily using offshore wind, positioning it as one of Europe’s largest integrated initiatives for decarbonizing chemicals production. Similarly, Cummins, via its Accelera division, supplied a record 35 MW PEM electrolyzer system to Linde’s Niagara Falls, New York facility in 2025, leveraging hydropower to double U.S. green hydrogen output and bolster North American industrial supply chains. These initiatives underscore how leading companies are driving market expansion with scalable, zero-emission solutions.
Mitsubishi Heavy Industries (MHI)
Mitsubishi Heavy Industries (MHI), headquartered in Tokyo, Japan, was established in 1884 as a pioneering engineering firm. In the green hydrogen sector, MHI leverages decades of expertise in energy systems to drive decarbonization through hydrogen-ready gas turbines and large-scale electrolyzer integrations. Key strategies include strategic investments in geologic hydrogen exploration via partnerships like Koloma in 2025 and developing export logistics for green hydrogen and ammonia from regions like India, targeting Southeast Asia and Central Asia markets.
MHI's market impact is profound, executing multi-trillion-dollar energy transition projects that validate next-generation solutions and create high entry barriers through first-mover advantages in hydrogen infrastructure. By 2025, MHI solidified leadership with international collaborations for power generation and maritime decarbonization, reducing fossil fuel reliance and ensuring renewable energy adequacy. These efforts position MHI as a cornerstone for global hydrogen supply chains, accelerating industrial adoption of clean fuels.
Stiesdal A/S
Stiesdal A/S, based in Ringkøbing, Denmark, was founded in 2017 by Henrik Stiesdal, renowned for wind turbine innovations. The company specializes in scalable electrolyzer technology, achieving material waste below 5% via rectangular stack designs to slash production costs and enable rapid industrialization. Core strategies focus on turnkey hydrogen plants with dynamic ramp-up capabilities, partnering with established manufacturers like KK Wind Solutions for efficient control systems under €1,000/kW CAPEX.
Stiesdal's market impact lies in deploying real-world units in Denmark, including biogas upgrading projects that convert CO₂-rich biogas to pure methane, enhancing fuel efficiency and curbing emissions. This flexibility navigates supply chain disruptions, meeting surging green hydrogen demand through economies of scale and proven scalability. By bridging project delays, Stiesdal advances Europe's hydrogen economy with cost-competitive, integrated solutions.
Siemens Energy
Siemens Energy, headquartered in Munich, Germany, traces its roots to Siemens AG founded in 1847, spinning off as an independent entity in 2020. It leads green hydrogen production with over 30 years of electrolyzer development and a decade of commercial operations. Strategies emphasize massive PEM and alkaline electrolyzers, like the 280 MW system with EWE in Germany producing 23,000 tonnes annually, alongside localized manufacturing in hubs like Dammam, Saudi Arabia.
The company's market impact strengthens resilient energy sectors by slashing CO₂ emissions in transport, steel, and chemicals, aligning with Germany's decarbonization roadmap. Siemens Energy's digital ecosystems optimize factories and grids, powering global infrastructure transitions and building local expertise in high-growth regions. These initiatives drive cleaner power adoption, positioning Siemens as a key enabler of net-zero goals.
Thyssenkrupp Nucera
Thyssenkrupp Nucera, headquartered in Dortmund, Germany, emerged from thyssenkrupp's engineering division with operations dating back decades; nucera formalized in 2021 as a green hydrogen specialist. It excels in alkaline water electrolysis (AWE), targeting climate-neutral hydrogen despite market challenges. Strategies include proactive cost reductions amid investment delays, maintaining €348 million order intake in 2024/25 while advancing chlor-alkali synergies for financial resilience.
thyssenkrupp's market impact sustains hydrogen market growth, dominating long-term via cost-competitive green production expected to lead by 2030, including India's National Hydrogen Mission for 5 million tons capacity. Despite sales dips to €459 million, improved EBIT reflects positioning for economic boosts and net-zero emissions in hard-to-abate sectors. This resilience paves the way for scaled deployment in brownfield and greenfield investments.
Acme Group
Acme Group, headquartered in Gurugram, India, was established in 2002 as a renewable energy developer expanding into green molecules. It targets 10 million tons/year of green ammonia and hydrogen by 2030, capitalizing on India's policy for exports and domestic supply to fertilizers and refineries. Strategies center on mega-projects like the 1.2 MMTPA green ammonia facility in Tata SEZ, Gopalpur, Odisha, producing 400,000 tonnes annually with on-schedule implementation.
By reaffirming commitments in 2025, Acme drives domestic decarbonization and global trade, enhancing supply chains for derivatives amid policy support. This scales production to meet industrial demands efficiently.
The future of green hydrogen is set to accelerate with breakthroughs in advanced catalyst materials, innovative storage solutions, and digitalization through AI-driven process optimization. These technological advancements promise enhanced electrolyzer efficiency, reduced production costs, and seamless integration with smart energy systems. As innovations unfold, green hydrogen will play a pivotal role in transforming global energy landscapes, enabling cleaner, resilient, and decentralized energy networks worldwide.
