Press Releases

The global green hydrogen market is anticipated to grow significantly i.e., at a CAGR of 55.5% during the forecast period owing to mounting policies by government to develop renewable energy, increased investment in green hydrogen projects, rising awareness about the advantages associated with green hydrogen, rising environmental concerns, and increased initiatives by government to achieve net zero energy systems will propel market development of global green hydrogen industry. Green hydrogen is developed through the electrolysis of water, which requires electricity, and is powered by renewable energy sources such as wind or solar. There is an increased demand for green hydrogen as it is a long-term energy source that can reduce carbon emissions. Moreover, enhancing grid efficacy and low variable renewable energy (VRE) electricity cost will fuel growth.

However, hydrogen safety concerns and the high capital cost of the electrolyzer unit are likely to stifle market growth during the forecast period. Nevertheless, as the adoption of nuclear and green hydrogen fuels grows, so does the green hydrogen industry.

In December 2022, Air Products and The AES Corporation intends to invest approximately $4 billion in Wilbarger County, Texas, to build, own, and operate a green hydrogen production facility. This mega-scale renewable power to hydrogen project includes 1.4 gigatonnes (GW) of wind and solar power generation, as well as electrolyzer capacity capable of producing more than 200 metric tonnes per day (MT/D) of green hydrogen, that will lead to one of the largest green hydrogen facility in the United States.

Bowse 63 market data Tables and 40 Figures spread through 225 Pages and in-depth TOC on "Green Hydrogen Market by Technology (Alkaline Electrolysers, Proton Exchange Membrane (PEM) Electrolysers, Solid Oxide Electrolysers, and Others), by Source (Solar, Wind, and Others), by Application (Power Generation, Industry Energy, Transportation, Building Heat & Power, Industry Feedstock, and Others), by End-Use Industry (Medical, Petrochemical,  Food & Beverage, Chemical, and Others), and Region - Global Forecast to 2030

By Technology, the PEM is expected to have a high CAGR during the forecast period.

Based on Technology, the Global Green Hydrogen Market is segmented into Alkaline Electrolysers, Proton Exchange Membrane (PEM) Electrolysers, Solid Oxide Electrolyser, Anion Exchange Membrane, and Others. PEM is expected to have a high CAGR during the forecast period as these electrolyzers use renewable electricity and water to produce clean hydrogen. Moreover, the low gas permeability and thickness of PEM and the high proton conductivity of these electrolysers are boosting growth prospects. Furthermore, the introduction of new hydrogen production projects and increased funding by the government will bolster the deployment of PEM electrolysis technology.

Global Green Hydrogen Market Segmentation and Key Players

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“North America is expected to have a high CAGR during the forecast period in the global Green Hydrogen Market.”

North America is expected to have a high CAGR during the forecast period in the global green hydrogen market owing to increased government investments in reducing emissions, the advent of large-scale wind-powered projects to develop the energy sector, future growth in the oil & gas sector and ongoing investments and grants towards the adoption of clean fuels will bolster the market development in the region.

Some of the major players in the global Green Hydrogen industry include Nikola Corporation, Toshiba Energy Systems & Solutions Corporation, Air Liquide, Ballard Power Systems, Engie, GREEN HYDROGEN SYSTEMS, Linde plc, Nel ASA, Siemens Energy, and Air Products Inc.

Global Green Hydrogen Market Coverage

Technology Insight and Forecast 2025-2030

• Alkaline Electrolysers
• Proton Exchange Membrane (PEM) Electrolysers
• Solid Oxide Electrolysers
• Others

Source Insight and Forecast 2025-2030

• Solar
• Wind
• Others

Application Insight and Forecast 2025-2030

• Power Generation
• Industry Energy
• Transportation
• Building Heat & Power
• Industry Feedstock
• Others

End-Use Industry Insight and Forecast 2025-2030

• Medical
• Petrochemical
• Food & Beverage
• Chemical
• Others

Geographical Segmentation

Green Hydrogen Market by Region

North America

• By Technology
• By Source
• By Application
• By End-Use Industry
• By Country – U.S., Canada, and Mexico

Europe

• By Technology
• By Source
• By Application
• By End-Use Industry
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Technology
• By Source
• By Application
• By End-Use Industry
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Technology
• By Source
• By Application
• By End-Use Industry
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries