
Green Hydrogen Market
Green Hydrogen Market Global Industry Assessment & Forecast
Segments Covered
By Technology Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Solid oxide Electrolyzer
By Application Power Generation, Transport, Others
By End-use Industry Food & Beverages, Medical, Chemical, Petrochemicals, Glass, Others
Snapshot
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2022 - 2028 |
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2016 - 2021 |
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374.17 Million |
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8,702.02 Million |
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48.19% |
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Europe |
Customization Offered
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market Dynamics
Region Level Market Share
Import Export Analysis
Production Analysis
Others Request Customization Speak To Analyst
Key Insights
The global Green Hydrogen market was valued at USD
374.17 Million in 2020 and is projected to reach USD 8,702.02 Million by
2028, growing at a CAGR of 48.19%% from 2021 to 2028.

Years | Parameters |
---|---|
Historical Data (Actual Data) | 2016-2020 |
Base Year Data | 2020 |
Current Year Date | 2021 |
Projected year data | 2021-2026 |
Annual Market Size (2028) | 8,702.02 Million |
Annual Market Size (2021) | |
CAGR (2021 - 2028) | 48.19%% |
Definition And Overview
Green hydrogen is one of the ultimate solutions to achieve net-zero emissions and one of the cleanest forms of energy in the world. The gas is produced with the help of electrolysis through electricity generated from renewable sources of energy such as solar and wind. An electric current splits the water into hydrogen and oxygen. This ensures no greenhouse gas emissions as the only by product of this process is oxygen, making it a great replacement for carbon emitting fuels. The
global Green Hydrogen market was valued at USD 374.17 Million in 2020 and is
projected to reach USD 8,702.02 Million by 2028, growing at a CAGR of 48.19%%
from 2021 to 2028.
The
global Green Hydrogen market is segmented into product, application, regions, and
countries. The regional segmentation covers current and forecasts demand on the
basis of North America, Europe, Asia Pacific, Latin America, and Middle East
& Africa. All the segments are analyzed on the basis of current and future
trends. The report covers a complete evaluation of the market based on competition,
drivers, restraints, opportunities, trends, and industry-authenticated data. The
market is estimated from 2016 to 2020 and forecast from 2021 to 2028.
COVID-19 Impact Analysis
Outbreak
of COVID-19 led various countries impose strict lockdown measures during the initial
stages of the pandemic. Numerous companies from different verticals faced
challenges due to remote work environments. As a result, companies from various
sectors switched to online/virtual platforms to maintain a steady flow in their
daily business activities. Impact of COVID-19 on the market demand is
considered while estimating the current and forecast market size and growth
trends for all the regions and countries. The
report provides a completely separate chapter for COVID-19 Impact Analysis.
This chapter includes: o Impact Assessment of COVID-19
Pandemic o Pre & Post COVID-19
Market Size o Qualitative analysis on the
short term & long term impact of COVID-19 on the market
o
The
analysis provides foremost strategies adopted by competitors to minimize the
impact of the pandemic on their business activities and scope for future
developments.
Market Insights
The increasing need to decarbonize the various industry verticals is anticipated to augment the growth of green hydrogen market within the forecast period. Furthermore, the increasing government initiatives and policies are also expected to support the growth of the market.
The increasing carbon emissions in the atmosphere across the globe is further expected to augment the growth of the green hydrogen market in the years to come. This is owing to the increasing urbanization and rapid enhancement of technologies due to industrialization.
The high production costs and lack of dedicated infrastructure along with lack of value recognition is expected to limit the growth of the green hydrogen market in the years to come.
Global Green Hydrogen Market Report Scope
Parameter | Details |
---|---|
Market Size Provided for Years | 2016-2028 |
Base Year | 2020 |
Historic Years | 2016-2020 |
Forecast Years | 2021-2028 |
Market Size Provided In Terms Of | Revenue & Volume |
Segments Covered | Technology, Application, End-use Industry |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Countries Covered | The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, Nel ASA , Linde, Cummins Inc., H&R Ölwerke Schindler GmbH, Wind to Gas Energy GmbH & Co. KG, Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd., Air Liquide, Air Products and Chemicals, Inc. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Europe, company market share analysis, and COVID-19 impact analysis |
Market Segmentation
Technology Analysis: Preview On the basis of Technology,
the market is segmented into Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer,Solid oxide Electrolyzer. Alkaline Electrolyzer held the
highest share in 2020 and is expected to grow at a significant rate over the
forecast period. This is attributed to the rising demand for the Alkaline Electrolyzer
in developing countries such as China and India. Digitalization in Asia Pacific
region has led to a surge in the usage of technology in various business
processes over the past few years. Rising adoption of online platforms across
various sectors along with analytical solutions, IoT, AI, and Blockchain
technology to gain a competitive advantage is also paving the way for the Green Hydrogen
market growth. Application
Analysis: Preview
Based on Application,
the market is segmented into Power Generation, Transport, Others. Power Generation held the
largest share and is projected to grow at a notable CAGR over the coming years.
Rising demand for Green Hydrogen in various countries
such as the U.S., Germany, China, India, and Japan, among others is likely to
support the growth of the market. Numerous companies are focusing on investing
heavily in this application to cater the end user requirements effectively.
Global Green Hydrogen Market: Technology Segment Analysis
-
- Proton Exchange Membrane Electrolyzer
- Alkaline Electrolyzer
- Solid oxide Electrolyzer
Global Green Hydrogen Market: Application Segment Analysis
-
- Power Generation
- Transport
- Others
Global Green Hydrogen Market: End-use Industry Segment Analysis
-
- Food & Beverages
- Medical
- Chemical
- Petrochemicals
- Glass
- Others
Regional Analysis Preview
On the basis of region, the global Green Hydrogen market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe region held a leading share of the global Green Hydrogen market in 2020. Some of the major countries contributing to the market growth are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. U.S. is considered as the most lucrative country for market players. This is attributed to the presence of major companies operating in the region.
Market Size, 2021 (USD Billion)
Global Green Hydrogen Market: Regional Analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Competitive Landscape
The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Green Hydrogen market are Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, Nel ASA , Linde, Cummins Inc., H&R Ölwerke Schindler GmbH, Wind to Gas Energy GmbH & Co. KG, Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd., Air Liquide, Air Products and Chemicals, Inc.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.
Key Highlights – Global Green Hydrogen Market
FAQ
Frequently Asked Question
What is the global demand for Green Hydrogen in terms of revenue?
-
The global Green Hydrogen valued at 374.17 Million in 2020 and is expected to reach 8,702.02 Million in 2028 growing at a CAGR of 48.19%%.
Which are the prominent players in the market?
-
The prominent players in the market are Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, Nel ASA , Linde, Cummins Inc., H&R Ölwerke Schindler GmbH, Wind to Gas Energy GmbH & Co. KG, Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd., Air Liquide, Air Products and Chemicals, Inc..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 48.19%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Green Hydrogen include
- The increasing need to decarbonize the various industry verticals is anticipated to augment the growth of green hydrogen market within the forecast period. Furthermore, the increasing government initiatives and policies are also expected to support the growth of the market.
- The increasing carbon emissions in the atmosphere across the globe is further expected to augment the growth of the green hydrogen market in the years to come. This is owing to the increasing urbanization and rapid enhancement of technologies due to industrialization.
Which region accounted for the largest share in the market?
-
Europe was the leading regional segment of the Green Hydrogen in 2020.