Green Hydrogen Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

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Green Hydrogen Market By Technology (Alkaline Electrolysis, Proton Exchange Membrane (PEM) Electrolysis), By Renewable Resources  ( Solar, Water, and Wind), Application Type (Power Generation, Transport, and Others) By End-user (Medical, Chemical, Petro-chemical, Grid Injection, and Others), and Geography

 

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Report

Description

Green Hydrogen market value is accounted USD 899.2 million in 2021 and estimated to grow at significant CAGR of 13.9% over the forecast period (2022-2028), to reach USD 2,605.5 million by 2028. Based on technology the market has been segmented into proton exchange membrane electrolyzer, alkaline electrolyzer, and solid oxide electrolyzer. Green hydrogen is hydrogen produced using renewable energy sources or low-carbon energy sources. Green hydrogen emits far fewer greenhouse gases than grey hydrogen, which is produced by steam reforming natural gas and accounts for the vast majority of the hydrogen market. The demand for green gases by 2050 will be enormous, according to Precision Business Insights. As a result, power-to-hydrogen is an important technology for ensuring green hydrogen supplies. Furthermore, because the transportation and storage capacity are insufficient to manage the electrical surplus, the increasing rate of renewable energy generation is causing new operational and managerial challenges on the power grid. Sector coupling, or the ability to bring the electrical and gas sectors closer together, is a feasible solution to this problem. Fuel expenditures are the most expensive component of production, accounting for 45% to 75% percent of total costs. Low gas prices in the Middle East, Russia, and North America result in some of the most cost-effective hydrogen generation. Gas importers such as Japan, Korea, China, and India face rising gas import prices, which drives up hydrogen production costs. A variety of technical and economic factors influence the cost of producing hydrogen from natural gas, with gas pricing and capital expenditures being the two most critical. The key to long-term acceptance is lowering the prices of green hydrogen production, and the indicators are encouraging. Green hydrogen costs between USD 3.5 and USD 9.0 per kilo in areas of the Middle East, Africa, Russia, the United States, and Australia, and between 3.3 and USD 8.8 in Europe.

Green Hydrogen Market

MARKET SUMMARY
-
13.9%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 13.9%
  • Largest Market– North America
  • Fastest Growing Market– Asia-Pacific

Green Hydrogen Market

  • Many American companies were invited to participate in upcoming bids for green hydrogen and electrolyzers by India in September 2021.
  • This partnership will aid revenue growth in the green hydrogen market in North America and Asia Pacific.
Key Players
  • Air Products Inc.
  • Air LIQUIDE
  • Plug Power Inc.
  • Cummins Inc.
Green Hydrogen Market

Recent Developments

• On December, 7th 2021,The UAE plans to build a green hydrogen center backed by $5 billion in funding. France’s Engie and Abu Dhabi-based renewable energy business Masdar have established a strategic alliance focused on the development of projects related to green hydrogen.

• By late 2021, 48 of America’s 55 investor-owned utilities had set carbon emission objectives, more than 40 countries had published or are creating a hydrogen plan, and $11.4 billion had been set aside each year between now and 2030 for low-carbon hydrogen projects worldwide. By mid-October 2021, approximately 70 renewable energy and climate-related state policies had been enacted in the United States.


Asia-Pacific Got Significant Share

Green Hydrogen Market

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The green hydrogen market provides granular level information about market size, regional market share, historic market (2017-2021) and forecast (2022-2028).
  • The green hydrogen market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The green hydrogen market report tracks recent innovations, key developments and startup’s details that are actively working in the market.
  • The green hydrogen market report provides plethora of information about market entry strategies
Green Hydrogen Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The green hydrogen market is projected to expand at a CAGR of 13.9% during the forecast period.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

Air Liquide, Air Products and Chemicals Inc., Cummins Inc., Linde, Nel ASA , Siemens Energy AG.


Report

Table Of Content

1. Executive Summary
2. Global Green Hydrogen Market Introduction
2.1. Global Green Hydrogen Market – Taxonomy
2.2. Global Green Hydrogen Market –Definitions
2.2.1. By Technology
2.2.2. By Renewable Source
2.2.3. By End User
2.2.4. By Region
3. Global Green Hydrogen Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Green Hydrogen Market Dynamic Factors – Impact Analysis
3.6. Global Green Hydrogen Market – Competition Landscape
4. Global Green Hydrogen Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Green Hydrogen Market, By Technology, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
5.1. Alkaline Electrolysis
5.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. PEM Electrolysis
5.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
6. Global Green Hydrogen Market, By Renewable Source, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
6.1. Wind Energy
6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Solar Energy
6.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Others
6.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
7. Global Green Hydrogen Market Forecast, By End User, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
7.1. Mobility
7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Chemical
7.2.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Power
7.3.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Grid Injection
7.4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Industrial
7.5.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Others
7.6.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.6.3. Market Opportunity Analysis
8. Global Green Hydrogen Market Forecast, By Region, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
8.1. North America
8.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Europe
8.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Asia-Pacific
8.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Latin America
8.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Middle East and Africa
8.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Global Green Hydrogen Market – Opportunity Analysis Index, By Technology, By Renewable Source, By End User, and Region, 2022 – 2028
9. North America Green Hydrogen Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
9.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.1.1. Alkaline Electrolysis
9.1.2. PEM Electrolysis
9.2. Renewable Source Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.2.1. Wind Energy
9.2.2. Solar Energy
9.2.3. Others
9.3. End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
9.3.1. Mobility
9.3.2. Chemical
9.3.3. Power
9.3.4. Grid Injection
9.3.5. Industrial
9.3.6. Others
9.4. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
9.4.1. USA
9.4.2. Canada
9.5. North America Green Hydrogen Market – Opportunity Analysis Index, By Technology, By Renewable Source, By End User and Country, 2022 – 2028
9.6. North America Green Hydrogen Market Dynamics – Trends
10. Europe Green Hydrogen Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
10.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Alkaline Electrolysis
10.1.2. PEM Electrolysis
10.2. Renewable Source Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. Wind Energy
10.2.2. Solar Energy
10.2.3. Others
10.3. End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.3.1. Mobility
10.3.2. Chemical
10.3.3. Power
10.3.4. Grid Injection
10.3.5. Industrial
10.3.6. Others
10.4. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.4.1. Germany
10.4.2. UK
10.4.3. France
10.4.4. Spain
10.4.5. Italy
10.4.6. Russia
10.4.7. Rest of Europe
10.5. Europe Green Hydrogen Market – Opportunity Analysis Index, By Technology, By Renewable Source, By End User and Country, 2022 – 2028
10.6. Europe Green Hydrogen Market Dynamics – Trends
11. Asia-Pacific Green Hydrogen Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
11.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Alkaline Electrolysis
11.1.2. PEM Electrolysis
11.2. Renewable Source Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. Wind Energy
11.2.2. Solar Energy
11.2.3. Others
11.3. End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.3.1. Mobility
11.3.2. Chemical
11.3.3. Power
11.3.4. Grid Injection
11.3.5. Industrial
11.3.6. Others
11.4. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.4.1. China
11.4.2. India
11.4.3. Japan
11.4.4. ASEAN
11.4.5. Australia & New Zealand
11.4.6. Rest of Asia-Pacific
11.5. Asia-Pacific Green Hydrogen Market – Opportunity Analysis Index, By Technology, By Renewable Source, By End User and Country, 2022 – 2028
11.6. Asia-Pacific Green Hydrogen Market Dynamics – Trends
12. Latin America Green Hydrogen Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
12.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Alkaline Electrolysis
12.1.2. PEM Electrolysis
12.2. Renewable Source Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. Wind Energy
12.2.2. Solar Energy
12.2.3. Others
12.3. End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.3.1. Mobility
12.3.2. Chemical
12.3.3. Power
12.3.4. Grid Injection
12.3.5. Industrial
12.3.6. Others
12.4. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.4.1. Brazil
12.4.2. Mexico
12.4.3. Argentina
12.4.4. Rest of Latin America
12.5. Latin America Green Hydrogen Market – Opportunity Analysis Index, By Technology, By Renewable Source, By End User and Country, 2022 – 2028
12.6. Latin America Green Hydrogen Market Dynamics – Trends
13. Middle East and Africa Green Hydrogen Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn) 
13.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Alkaline Electrolysis
13.1.2. PEM Electrolysis
13.2. Renewable Source Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. Wind Energy
13.2.2. Solar Energy
13.2.3. Others
13.3. End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.3.1. Mobility
13.3.2. Chemical
13.3.3. Power
13.3.4. Grid Injection
13.3.5. Industrial
13.3.6. Others
13.4. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.4.1. Gulf Cooperation Council (GCC) Countries
13.4.2. Israel
13.4.3. South Africa
13.4.4. Rest of MEA
13.5. MEA Green Hydrogen Market – Opportunity Analysis Index, By Technology, By Renewable Source, By End User and Country, 2022 – 2028
13.6. MEA Green Hydrogen Market Dynamics – Trends
14. Competition Landscape 
14.1. Strategic Dashboard of Top Market Players
14.2. Company Profiles (Introduction, Financial Analysis, Offerings, Key Developments, Strategies, and SWOT Analysis)
14.2.1. Siemens Energy AG (Germany)
14.2.2. Linde (Ireland)
14.2.3. Toshiba Energy Systems & Solutions Corporation (Japan)
14.2.4. Air Liquide (France)
14.2.5. Nel ASA (Norway)
14.2.6. Air Products and Chemicals, Inc. (USA)
14.2.7. H&R Olwerke Schindler GmbH (Germany)
14.2.8. Wind to Gas Energy GmbH & Co. KG (Germany)
14.2.9. Guangdong Nation-Synergy Hydrogen Power Technologies Co., Ltd. (China)
14.2.10. Cummins Inc. (USA)
15. Research Methodology
16. Key Assumptions and Acronyms

Report

Company Profile

  • Air Liquide (France)
  • Air Products and Chemicals, Inc. (USA)
  • Cummins Inc. (USA)
  • Linde (Ireland)
  • Nel ASA (Norway)
  • Siemens Energy AG (Germany)
  • H&R Olwerke Schindler GmbH (Germany)
  • Wind to Gas Energy GmbH & Co. KG (Germany)
  • Toshiba Energy Systems & Solutions Corporation (Japan)
  • Guangdong Nation-Synergy Hydrogen Power Technologies Co., Ltd. (China)

Description

Green Hydrogen market value is accounted USD 899.2 million in 2021 and estimated to grow at significant CAGR of 13.9% over the forecast period (2022-2028), to reach USD 2,605.5 million by 2028. Based on technology the market has been segmented into proton exchange membrane electrolyzer, alkaline electrolyzer, and solid oxide electrolyzer. Green hydrogen is hydrogen produced using renewable energy sources or low-carbon energy sources. Green hydrogen emits far fewer greenhouse gases than grey hydrogen, which is produced by steam reforming natural gas and accounts for the vast majority of the hydrogen market. The demand for green gases by 2050 will be enormous, according to Precision Business Insights. As a result, power-to-hydrogen is an important technology for ensuring green hydrogen supplies. Furthermore, because the transportation and storage capacity are insufficient to manage the electrical surplus, the increasing rate of renewable energy generation is causing new operational and managerial challenges on the power grid. Sector coupling, or the ability to bring the electrical and gas sectors closer together, is a feasible solution to this problem. Fuel expenditures are the most expensive component of production, accounting for 45% to 75% percent of total costs. Low gas prices in the Middle East, Russia, and North America result in some of the most cost-effective hydrogen generation. Gas importers such as Japan, Korea, China, and India face rising gas import prices, which drives up hydrogen production costs. A variety of technical and economic factors influence the cost of producing hydrogen from natural gas, with gas pricing and capital expenditures being the two most critical. The key to long-term acceptance is lowering the prices of green hydrogen production, and the indicators are encouraging. Green hydrogen costs between USD 3.5 and USD 9.0 per kilo in areas of the Middle East, Africa, Russia, the United States, and Australia, and between 3.3 and USD 8.8 in Europe.

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