Top 7 Blue Hydrogen Companies, Worldwide 2023: MarketsandMarkets 360 Quadrant Revealed

CHICAGO, Sept. 20, 2023 /PRNewswire/ -- MarketsandMarkets has released 360 Quadrant for Top 7 Blue Hydrogen Companies, Worldwide 2023 to help businesses make quicker and more informed decisions. Companies' market presence and product footprint are used to build quadrants, which will be revised annually.

The global blue hydrogen market is expected to grow from USD 18.2 billion in 2022 to USD 44.5 billion by 2030, at a CAGR of 11.9% during the forecast period. Although hydrogen has long been considered a potential low-carbon transportation fuel, adding it to the mix of fuels has proven difficult. Compared to fossil fuels, which are running out and getting more expensive by the day, it has an edge.

For usage in rockets and fuel cell electric vehicles, hydrogen is in high demand in the aerospace sector. Lowing the supply price of hydrogen is a primary priority for truck manufacturers. Fuel cell pricing and recharging stations determine how competitive hydrogen fuel cell autos are in the transportation sector. There are not many low-carbon fuel options for ships and airplanes, which offer hydrogen-based fuels a chance.

In lightweight vehicles including bicycles, cars, buses, transit, material handling equipment, boats, ships, commercial airplanes, auxiliary power units (APUs) of aircraft, model ships, and specialty vehicles like forklifts, hydrogen fuel cells are employed extensively on a global scale. The introduction of fuel cell vehicles should be followed by the contemporaneous creation of associated infrastructure.

The demand for hydrogen is being driven by the Asia Pacific region, where nations like China and India have the largest capacities for ammonia production and refinery throughput. The demand for blue hydrogen in the Asia Pacific region is also being driven by other uses such as food processing, fuel cells, electronics, and metal production and fabrication.

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Unveiling the Market Leaders: Honoring Excellence in Blue Hydrogen Markets

Shell plc provides technologies, solutions, and services for the energy sector's net zero emissions. It provides equipment and services for creating pure hydrogen. Five business divisions make up the company's operations: Integrated Gas, Upstream, Oil Products, Chemicals, and Corporate. The Shell hydrogen process employs ADIP ultra technology to remove carbon dioxide from syngas and Shell gas partial oxidation (SGP) technology to produce pure hydrogen. Shell plc has facilities for manufacturing, R&D, services, and training that are used in more than 70 different countries. The business operates in the largest nations on a number of continents, including North America, South America, Europe, Asia, Oceania, and Africa.
Linde plc offers a variety of technologies and services to the energy and industrial value chains. With respect to both market share and revenue, it is the biggest industrial gas company worldwide. Additionally, the business is divided into two more business divisions: engineering and other. Engineering and gases make up the two primary product areas in Linde plc's business. Through these divisions, it is involved in the production and distribution of industrial, medical, and atmospheric gases like oxygen, hydrogen, and synthesis gases. The business also produces other types of hydrogen, including blue hydrogen (produced using carbon capture technologies) and green hydrogen (produced using electrolysis technologies). Healthcare, energy, manufacturing, food, beverage carbonation, fiber-optics, steel production, aerospace, chemical, and water treatment are just a few of the end-user industries that Linde plc serves. The business operates in more than 85 countries around the world through affiliates, subsidiaries, alliances, and joint ventures. It is present all around the world, but is particularly present in North America, South America, Asia Pacific, Europe, and the Middle East and Africa.
Aramco The Saudi Arabian state-owned oil and gas business is known as Saudi Aramco, often known as the Saudi Arabian Oil Group or just Aramco. Its headquarters are in Dhahran, and as of 2022, it will rank as the second-largest firm in the world in terms of sales. It has consistently produced the highest annual earnings in the history of a worldwide corporation. With more than 270 billion barrels (43 billion cubic meters) of known reserves, Saudi Aramco has the second-largest crude oil production per day among all oil-producing enterprises.
Air Products and Chemicals Inc. offers its services for planning, designing, constructing, and running industrial gas projects. There are five business segments in the company: Industrial gases for the Americas, the European Union, Asia, and the rest of the world, as well as corporate and other, The business provides services and goods for the production of specialty, process, and atmospheric gases. Industries and sectors served by the hydrogen production facilities run by the Industrial Gases—Americas, EMEA, and Asia and Industrial Gases—Global segments include manufacturing, chemical, refinery, metal, and food & and beverage. The primary method utilized by Air Products and Chemicals Inc. to produce blue hydrogen is Air Products auto thermal reforming technology. The US is home to the manufacturing facilities of Air Products and Chemicals Inc.

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CATEGORIZATION OF BLUE HYDROGEN COMPANIES ON 360 QUADRANTS

Blue Hydrogen evaluation was conducted for 30 companies, of which the top 7 were categorized and placed in the quadrant under Market Leaders, Contenders, Innovators, and Emerging Companies.

All the companies in the market leader segment demonstrated strong offerings and the ability to influence the market's direction with their deep expertise. These companies include Aramco, Shell, Linde, Air Products, and Air Liquide.

In the quadrant, innovators are highly innovative companies with a strong product portfolio, but a smaller market presence compared to leaders. They push industry boundaries with forward-thinking approaches and have the potential to become major players despite lower corporate growth strategies. PETRONAS and Xebec Adsorption have been identified as the innovators in the quadrant.

Evaluation Criteria

The vendor evaluation was conducted on over 30 companies of which the top 7 were categorized and recognized as the quadrant leaders. Factors such as revenue, geographic presence, vendor market share, and business strategies have been considered to evaluate the Blue Hydrogen quadrant. The top criteria for company evaluation were technology (steam methane reforming (SMR), auto thermal reforming (ATR), and Gas Oxidation), petroleum refinery, power generation, chemical industries, and other applications.

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360Quadrants Scoring Methodology

360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects, and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons, and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.

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