Power-to-Gas companies

Companies Dominating the Power-to-Gas Landscape

Here is a list of key players operating in the global market:

• Siemens Energy AG (Germany)
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
• ITM Power PLC (United Kingdom)
• Nel ASA (Norway)
• McPhy Energy S.A. (France)
• ThyssenKrupp AG (Germany)
• Linde PLC (United Kingdom)
• Air Liquide S.A. (France)
• Mitsubishi Power, Ltd. (Japan)
• Toshiba Energy Systems & Solutions Corporation (Japan)
• John Cockerill (Belgium)
• Bloom Energy Corporation (U.S.)
• FuelCell Energy, Inc. (U.S.)
• Plug Power Inc. (U.S.)
• Sunfire GmbH (Germany)
• Haldor Topsoe A/S (Denmark)
• Hitachi Zosen Corporation (Japan)
• ENGIE SA (France)
• Hydrogenics Corporation (Canada)
• MAN Energy Solutions SE (Germany)
• Green Hydrogen Systems A/S (Denmark)

The international power-to-gas market is highly fragmented and significantly competitive, as well as characterized by tactical alliances and vertical integration. In this regard, established industrial gas firms, such as Linde and Air Liquide, have leveraged their respective worldwide offtake and distribution networks, while specialized tech-based companies, including Nel ASA and ITM Power, have focused on progressing electrolyzer efficacy and upscaling manufacturing capacity. In addition, the formation of consortiums tends to develop integrated Hydrogen Valleys and gain project financing, which is also driving the market’s growth. Besides, in June 2025, Eaton has readily empowered consumers to put digitalization and electrification to operate in the latest ways with its Factories as a Grid strategy. This has enhanced the functionality of present energy systems along with renewable energy resources to gain huge energy level resilience, which caters to the power-to-gas market’s upliftment globally.

Corporate Landscape of the Power-to-Gas Market:

• Siemens Energy AG is considered an international leader in large-scale power-to-gas solutions, significantly through its efficient Silyzer series of PEM electrolyzers. The organization has leveraged its in-depth expertise in energy systems to offer integrated solutions for industrial grid-balancing and decarbonization applications. Besides, as per its 2025 annual report, the organization’s orders amounted to €14.2 billion, along with a revenue generation of €10.4 billion, denoting a surge by 9.7%.
• ITM Power PLC has specialized in Proton Exchange Membrane (PEM) electrolysis technology and has established one of the world’s largest automated manufacturing infrastructures for electrolyzers. The firm is renowned for its tactical partnerships to deploy large-scale industrial energy and refueling stations and storage projects.
• Nel ASA is regarded as the pioneering and pure-play hydrogen organization with a wide-ranging product portfolio that covers both PEM and alkaline electrolyzer technologies. The company has readily focused on lowering the expense of renewable hydrogen through global expansion and high-volume production. Based on this, as stated in the 2024 annual report, the company generated NOK 1,390 million in revenue, along with NOK 1,876 million in cash balance.
• McPhy Energy S.A. offers integrated solutions across the hydrogen value chain, with a focus on hydrogen refueling stations and high-pressure alkaline electrolyzers. The organization’s technology is readily geared towards large-scale industrial facilities and zero-emission mobility infrastructure.
• ThyssenKrupp AG’s Uhde Chlorine Engineers business unit is regarded as the world leader in large-scale alkaline water electrolysis, providing plants with facilities of megawatts. Its technology is crucial for gigawatt-scale green hydrogen projects, which are aimed at decarbonizing the industrial and chemical sectors.