Product Code: 5349
The global green hydrogen market is projected to witness lucrative growth between 2022-2030. The power generation and transport sector are steadily shifting to cleaner fuel alternatives. Focus on reducing the dependency on fossil fuels and achieving decarbonization targets has led to the imposition of stringent government norms.
New research and development activities are currently underway to meet the requirement for efficient & low-cost production of clean hydrogen. In July 2022, Indian Institute of Science (IISc) research developed a technology to produce green hydrogen using biomass. The innovative process generates 100 gm of green hydrogen using 1 kg biomass. The construction of new manufacturing facilities to enable large-scale deployment of clean hydrogen and build a hydrogen economy across developing economies will favor industry trends.
The global green hydrogen market is classified based on source, technology, application, and region.
In terms of technology, the market is categorized into alkaline, solid oxide, and PEM. The solid oxide technology segment is projected to surpass USD 950 million by 2030. The necessity for low-cost & high-efficiency clean hydrogen solutions has encouraged the development and commercialization of electrolyzer technologies. Features like low capital cost, reduced requirement of auxiliary components, high current density, and less maintenance in terms of electrode corrosion will boost the adoption of solid oxide technologies in the green hydrogen industry.
Based on source, the green hydrogen market size is fragmented into solar and wind. The solar segment is anticipated to record over 60% CAGR by 2030. The large-scale availability of sunlight has made solar a beneficial source of energy to produce clean hydrogen. Efforts to replace conventional fuel sources with renewable energy will boost the adoption of solar power. Moreover, the development of new solar energy projects across emerging nations along with stern decarbonization targets by various sectors will boost segment growth.
With respect to application, the industry is segregated into power generation, industrial feedstock, and transportation. The industrial feedstock segment is likely to grow at a CAGR of over 70% between 2022 to 2030. The construction of new projects for green ammonia production has facilitated the demand for clean hydrogen. Robust government investments could support the use of green hydrogen as a feedstock across industrial applications like metallurgy, fertilizers, steel making and, chemical production.
The Asia Pacific green hydrogen market size is projected to register over 60% CAGR by 2030. New government initiatives to reduce carbon emission levels across the industrial sector will support the adoption of eco-friendlier fuel alternatives. Public and private sectors across the region are making investments to develop green hydrogen projects. Shift to renewable energy sources in the power generation sector and strategic alliances among emerging nations will positively impact the APAC industry outlook.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Methodology
- 1.2 Market definitions
- 1.3 Market estimates and forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
- 1.5 Abbreviations
Chapter 2 Executive Summary
- 2.1 Green hydrogen industry 360 degree synopsis, 2018 - 2030
- 2.1.1 Business trends
- 2.1.2 Technology trends
- 2.1.3 Source trends
- 2.1.4 Application trends
- 2.1.5 Regional trends
Chapter 3 Green Hydrogen Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Innovation & sustainability landscape
- 3.2.1 Oil India Limited
- 3.2.2 Airbus
- 3.3 Regulatory landscape
- 3.3.1 North America
- 3.3.1.1 U.S.
- 3.3.1.1.1 Inflation Reduction Act of 2022
- 3.3.1.1.2 Bipartisan Infrastructure Law Clean Hydrogen Initiatives
- 3.3.1.1.3 Energy Policy Act, 2005
- 3.3.1.2 Canada
- 3.3.2 Europe
- 3.3.2.1 UK
- 3.3.2.2 Germany
- 3.3.2.3 Italy
- 3.3.2.4 Netherlands
- 3.3.2.5 France
- 3.3.3 Asia Pacific
- 3.3.3.1 China
- 3.3.3.1.1 Green Hydrogen Standard
- 3.3.3.2 India
- 3.3.3.3 Japan
- 3.3.3.4 Australia
- 3.3.3.5 South Korea
- 3.3.4 Middle East & Africa
- 3.3.4.1 UAE
- 3.3.4.2 Saudi Arabia
- 3.3.4.3 Oman
- 3.3.5 Latin America
- 3.3.5.1 Colombia
- 3.3.5.1.1 Energy Transition Law
- 3.3.5.2 Mexico
- 3.3.5.2.1 Mexican Official Standard NOM-017-CRE-2019
- 3.3.5.2.2 Energy Transition Law
- 3.3.5.3 Brazil
- 3.3.5.4 Chile
- 3.4 COVID- 19 impact on the industry outlook
- 3.5 Hydrogen manufacturing capacity, by company (2021)
- 3.6 Hydrogen consumption, by country (2021)
- 3.7 Upcoming green hydrogen demonstration projects
- 3.8 Industry impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Growing measures toward decarbonization
- 3.8.1.2 Government plans and investments toward hydrogen economy
- 3.8.1.3 North America & Europe
- 3.8.1.3.1 Favorable government initiatives for emission reduction
- 3.8.1.3.2 Ongoing investments, funding programs and grants for clean fuel adoption
- 3.8.1.4 Asia Pacific
- 3.8.1.4.1 Strategic alliances and large scale investments for clean hydrogen economy
- 3.8.2 Industry pitfalls & challenges
- 3.8.2.1 High overall cost
- 3.9 Growth potential analysis
- 3.10 Porter's Analysis
- 3.10.1 Bargaining power of suppliers
- 3.10.2 Bargaining power of buyers
- 3.10.3 Threat of new entrant
- 3.10.4 Threat of substitutes
- 3.11 Competitive landscape, 2021
- 3.11.1 Strategy dashboard
- 3.11.1.1 Iberdrola, S.A.
- 3.11.1.1.1 Project Development
- 3.11.1.1.2 Business Expansion
- 3.11.1.1.3 Agreement
- 3.11.1.2 Plug Power Inc.
- 3.11.1.2.1 Agreement/Contract
- 3.11.1.2.2 Project Development
- 3.11.1.2.3 Acquisition
- 3.11.1.2.4 Joint Venture
- 3.11.1.3 Air Liquide
- 3.11.1.3.1 Investment
- 3.11.1.3.2 Partnerships and Collaborations
- 3.11.1.3.3 Fund allocation
- 3.11.1.4 ACME
- 3.11.1.4.1 Project Development
- 3.11.1.5 Siemens Energy
- 3.11.1.5.1 Joint Venture
- 3.11.1.5.2 Partnership
- 3.11.1.5.3 Project Development
- 3.11.1.5.4 Agreement
- 3.11.1.5.5 Business Expansion
- 3.11.1.6 Lhyfe
- 3.11.1.6.1 Memorandum of Understanding (MoU) and Agreement
- 3.11.1.6.2 Business Expansion
- 3.11.1.7 Air Products Inc.
- 3.11.1.7.1 Agreement and Collaboration
- 3.11.1.7.2 Project Development
- 3.11.1.8 Hiringa Energy Limited
- 3.11.1.8.1 Project Development
- 3.11.1.8.2 Agreement and Collaboration
- 3.11.1.8.3 Fund allocation
- 3.11.1.9 ENGIE
- 3.11.1.9.1 Agreement and Collaboration
- 3.11.1.9.2 Fund Allocation
- 3.11.1.10 CWP Global
- 3.11.1.11 Cummins Inc.
- 3.11.1.11.1 Agreement
- 3.11.1.11.2 Joint Venture
- 3.11.1.11.3 Project Development
- 3.11.1.11.4 Acquisition
- 3.11.1.12 Linde plc
- 3.11.1.12.1 Agreement
- 3.11.1.12.2 Business Expansion
- 3.11.1.13 Getech Group plc
- 3.11.1.13.1 Agreement and Memorandum of Understanding (MoU)
- 3.11.1.14 Toshiba Energy Systems & Solutions Corporation
- 3.11.1.14.1 Project Development
- 3.12 PESTEL Analysis
Chapter 4 Green Hydrogen Market, By Technology
- 4.1 Green hydrogen market share by technology, 2021 & 2030
- 4.2 Alkaline
- 4.2.1 Global market from alkaline, 2018 - 2030
- 4.2.2 Global market from alkaline, by region, 2018 - 2030
- 4.3 PEM
- 4.3.1 Global market from PEM, 2018 - 2030
- 4.3.2 Global market from PEM, by region, 2018 - 2030
- 4.4 Solid oxide
- 4.4.1 Global market from solid oxide, 2018 - 2030
- 4.4.2 Global market from solid oxide, by region, 2018 - 2030
- 4.5 Others
- 4.5.1 Global market from others, 2018 - 2030
- 4.5.2 Global market from others, by region, 2018 - 2030
Chapter 5 Green Hydrogen Market, By Source
- 5.1 Green hydrogen market share by source, 2021 & 2030
- 5.2 Solar
- 5.2.1 Global market from solar, 2018 - 2030
- 5.2.2 Global market from solar, by region, 2018 - 2030
- 5.3 Wind
- 5.3.1 Global market from wind, 2018 - 2030
- 5.3.2 Global market from wind, by region, 2018 - 2030
- 5.4 Others
- 5.4.1 Global market from others, 2018 - 2030
- 5.4.2 Global market from others, by region, 2018 - 2030
Chapter 6 Green Hydrogen Market, By Application
- 6.1 Green hydrogen market share by application, 2021 & 2030
- 6.2 Power generation
- 6.2.1 Global market from power generation, 2018 - 2030
- 6.2.2 Global market from power generation, by region, 2018 - 2030
- 6.3 Transportation
- 6.3.1 Global market from transportation, 2018 - 2030
- 6.3.2 Global market from transportation, by region, 2018 - 2030
- 6.4 Industry energy
- 6.4.1 Global market from industry energy, 2018 - 2030
- 6.4.2 Global market from industry energy, by region, 2018 - 2030
- 6.5 Industry feedstock
- 6.5.1 Global market from industry feedstock, 2018 - 2030
- 6.5.2 Global market from industry feedstock, by region, 2018 - 2030
- 6.6 Building heat & power
- 6.6.1 Global market from building heat & power, 2018 - 2030
- 6.6.2 Global market from building heat & power, by region, 2018 - 2030
- 6.7 Others
- 6.7.1 Global market from others, 2018 - 2030
- 6.7.2 Global market from others, by region, 2018 - 2030
Chapter 7 Green Hydrogen Market, By Region
- 7.1 Green hydrogen market share by region, 2021 & 2030
- 7.2 North America
- 7.2.1 North America market, 2018 - 2030
- 7.2.2 North America market by technology, 2018 - 2030
- 7.2.3 North America market by source, 2018 - 2030
- 7.2.4 North America market by application 2018 - 2030
- 7.2.5 U.S.
- 7.2.5.1 U.S. market, 2018 - 2030
- 7.2.5.2 U.S. market by technology, 2018 - 2030
- 7.2.5.1 U.S. market by source, 2018 - 2030
- 7.2.5.2 U.S. market by application, 2018 - 2030
- 7.2.6 Canada
- 7.2.6.1 Canada market, 2018 - 2030
- 7.2.6.2 Canada market by technology, 2018 - 2030
- 7.2.6.3 Canada market by source, 2018 - 2030
- 7.2.6.4 Canada market by application, 2018 - 2030
- 7.3 Europe
- 7.3.1 Europe market, 2018 - 2030
- 7.3.2 Europe market by technology, 2018 - 2030
- 7.3.3 Europe market by source, 2018 - 2030
- 7.3.4 Europe market by application 2018 - 2030
- 7.3.5 Germany
- 7.3.5.1 Germany market, 2018 - 2030
- 7.3.5.2 Germany market by technology, 2018 - 2030
- 7.3.5.3 Germany market by source, 2018 - 2030
- 7.3.5.4 Germany market by application, 2018 - 2030
- 7.3.6 UK
- 7.3.6.1 UK market, 2018 - 2030
- 7.3.6.2 UK market by technology, 2018 - 2030
- 7.3.6.3 UK market by source, 2018 - 2030
- 7.3.6.4 UK market by application, 2018 - 2030
- 7.3.7 France
- 7.3.7.1 France market, 2018 - 2030
- 7.3.7.2 France market by technology, 2018 - 2030
- 7.3.7.3 France market by source, 2018 - 2030
- 7.3.7.4 France market by application, 2018 - 2030
- 7.3.8 Italy
- 7.3.8.1 Italy market, 2018 - 2030
- 7.3.8.2 Italy market by technology, 2018 - 2030
- 7.3.8.3 Italy market by source, 2018 - 2030
- 7.3.8.4 Italy market by application, 2018 - 2030
- 7.3.9 Netherlands
- 7.3.9.1 Netherlands market, 2018 - 2030
- 7.3.9.2 Netherlands market by technology, 2018 - 2030
- 7.3.9.3 Netherlands market by source, 2018 - 2030
- 7.3.9.4 Netherlands market by application, 2018 - 2030
- 7.3.10 Denmark
- 7.3.10.1 Denmark market, 2018 - 2030
- 7.3.10.2 Denmark market by technology, 2018 - 2030
- 7.3.10.3 Denmark market by source, 2018 - 2030
- 7.3.10.4 Denmark market by application, 2018 - 2030
- 7.3.11 Spain
- 7.3.11.1 Spain market, 2018 - 2030
- 7.3.11.2 Spain market by technology, 2018 - 2030
- 7.3.11.3 Spain market by source, 2018 - 2030
- 7.3.11.4 Spain market by application, 2018 - 2030
- 7.3.12 Norway
- 7.3.12.1 Norway market, 2018 - 2030
- 7.3.12.2 Norway market by technology, 2018 - 2030
- 7.3.12.3 Norway market by source, 2018 - 2030
- 7.3.12.4 Norway market by application, 2018 - 2030
- 7.4 Asia Pacific
- 7.4.1 Asia Pacific market, 2018 - 2030
- 7.4.2 Asia Pacific market by technology, 2018 - 2030
- 7.4.3 Asia Pacific market by source, 2018 - 2030
- 7.4.4 Asia Pacific market by application 2018 - 2030
- 7.4.5 China
- 7.4.5.1 China market, 2018 - 2030
- 7.4.5.2 China market by technology, 2018 - 2030
- 7.4.5.3 China market by source, 2018 - 2030
- 7.4.5.4 China market by application, 2018 - 2030
- 7.4.6 Japan
- 7.4.6.1 Japan market, 2018 - 2030
- 7.4.6.2 Japan market by technology, 2018 - 2030
- 7.4.6.3 Japan market by source, 2018 - 2030
- 7.4.6.4 Japan market by application, 2018 - 2030
- 7.4.7 India
- 7.4.7.1 India market, 2018 - 2030
- 7.4.7.2 India market by technology, 2018 - 2030
- 7.4.7.3 India market by source, 2018 - 2030
- 7.4.7.4 India market by application, 2018 - 2030
- 7.4.8 Australia
- 7.4.8.1 Australia market, 2018 - 2030
- 7.4.8.2 Australia market by technology, 2018 - 2030
- 7.4.8.3 Australia market by source, 2018 - 2030
- 7.4.8.4 Australia market by application, 2018 - 2030
- 7.4.9 South Korea
- 7.4.9.1 South Korea market, 2018 - 2030
- 7.4.9.2 South Korea market by technology, 2018 - 2030
- 7.4.9.3 South Korea market by source, 2018 - 2030
- 7.4.9.4 South Korea market by application, 2018 - 2030
- 7.5 Rest of World
- 7.5.1 Rest of World market, 2018 - 2030
- 7.5.2 Rest of World market by technology, 2018 - 2030
- 7.5.3 Rest of World market by source, 2018 - 2030
- 7.5.4 Rest of World market by application 2018 - 2030
- 7.5.5 Oman
- 7.5.5.1 Oman market, 2018 - 2030
- 7.5.5.2 Oman market by technology, 2018 - 2030
- 7.5.5.3 Oman market by source, 2018 - 2030
- 7.5.5.4 Oman market by application, 2018 - 2030
- 7.5.6 Saudi Arabia
- 7.5.6.1 Saudi Arabia market, 2018 - 2030
- 7.5.6.2 Saudi Arabia market by technology, 2018 - 2030
- 7.5.6.3 Saudi Arabia market by source, 2018 - 2030
- 7.5.6.4 Saudi Arabia market by application, 2018 - 2030
- 7.5.7 UAE
- 7.5.7.1 UAE market, 2018 - 2030
- 7.5.7.2 UAE market by technology, 2018 - 2030
- 7.5.7.3 UAE market by source, 2018 - 2030
- 7.5.7.4 UAE market by application, 2018 - 2030
Chapter 8 Company Profiles
- 8.1 Siemens Energy
- 8.1.1 Business Overview
- 8.1.2 Financial Data
- 8.1.3 Product Landscape
- 8.1.4 Strategic Outlook
- 8.1.5 SWOT Analysis
- 8.2 Plug Power Inc.
- 8.2.1 Business Overview
- 8.2.2 Financial Data
- 8.2.3 Product Landscape
- 8.2.4 Strategic outlook
- 8.2.5 SWOT Analysis
- 8.3 Air Liquide
- 8.3.1 Business Overview
- 8.3.2 Financial Data
- 8.3.3 Product Landscape
- 8.3.4 SWOT Analysis
- 8.4 Linde plc
- 8.4.1 Business Overview
- 8.4.2 Financial Data
- 8.4.3 Product Landscape
- 8.4.4 Strategic Outlook
- 8.4.5 SWOT Analysis
- 8.5 Cummins Inc.
- 8.5.1 Business Overview
- 8.5.2 Financial Data
- 8.5.3 Product Landscape
- 8.5.4 Strategic Outlook
- 8.5.5 SWOT Analysis
- 8.6 Air Products Inc.
- 8.6.1 Business Overview
- 8.6.2 Financial Data
- 8.6.3 Product Landscape
- 8.6.4 Strategic Outlook
- 8.6.5 SWOT Analysis
- 8.7 Iberdrola, S.A.
- 8.7.1 Business Overview
- 8.7.2 Financial Data
- 8.7.3 Product Landscape
- 8.7.4 Strategic Outlook
- 8.7.5 SWOT Analysis
- 8.8 Hiringa Energy Limited
- 8.8.1 Business Overview
- 8.8.2 Financial Data
- 8.8.3 Product Landscape
- 8.8.4 Strategic Outlook
- 8.8.5 SWOT Analysis
- 8.9 Engie
- 8.9.1 Business Overview
- 8.9.2 Financial Data
- 8.9.3 Product Landscape
- 8.9.4 Strategic Outlook
- 8.9.5 SWOT Analysis
- 8.10 Lhyfe
- 8.10.1 Business Overview
- 8.10.2 Financial Data
- 8.10.3 Product Landscape
- 8.10.4 Strategic Outlook
- 8.10.5 SWOT Analysis
- 8.11 GH2
- 8.11.1 Business Overview
- 8.11.2 Financial Data
- 8.11.3 Product Landscape
- 8.11.4 Strategic Outlook
- 8.11.5 SWOT Analysis
- 8.12 CWP Global
- 8.12.1 Business Overview
- 8.12.2 Financial Data
- 8.12.3 Product Landscape
- 8.12.4 Strategic Outlook
- 8.12.5 SWOT Analysis
- 8.13 ACME
- 8.13.1 Business Overview
- 8.13.2 Financial Data
- 8.13.3 Product Landscape
- 8.13.4 Strategic Outlook
- 8.13.5 SWOT Analysis
- 8.14 Toshiba Energy Systems & Solutions Corporation
- 8.14.1 Business Overview
- 8.14.2 Financial Data
- 8.14.3 Product Landscape
- 8.14.4 Strategic Outlook
- 8.14.5 SWOT Analysis
- 8.15 Getech Group plc
- 8.15.1 Business Overview
- 8.15.2 Financial Data
- 8.15.3 Product Landscape
- 8.15.4 Strategic Outlook
- 8.15.5 SWOT Analysis