The global Green Hydrogen Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Technology (Alkaline Electrolysis, PEM Electrolysis), By Renewable Source, Wind Energy, Solar Energy, Others), By End-User (Mobility, Chemical, Power, Grid Injection, Industrial, Others).
The Green Hydrogen Market in 2024 represents a pivotal milestone in the transition towards renewable energy and decarbonization of industries, offering a sustainable and scalable solution for energy storage, transportation, and industrial processes. Green hydrogen, produced through electrolysis water using renewable energy sources such as wind and solar power, serves as a clean and versatile energy carrier that can replace fossil fuels in sectors such as transportation, manufacturing, and power generation. The market experiences exponential growth driven by factors such as climate change mitigation efforts, declining renewable energy costs, and regulatory incentives promoting hydrogen economies. Green hydrogen producers invest in electrolyzer technology advancements, scale-up projects, and renewable energy integration to drive down production costs and increase production capacity. Additionally, strategic partnerships, cross-industry collaborations, and government funding initiatives support the development of green hydrogen infrastructure and value chains. Furthermore, the versatility of green hydrogen applications, including fuel cell vehicles, industrial feedstock, and energy storage, fosters market growth and adoption across diverse sectors. As countries commit to carbon neutrality targets and renewable energy transitions, the green hydrogen market remains at the forefront of enabling sustainable and resilient energy systems for a low-carbon future.
The global Green Hydrogen Market Industry is highly competitive with a large number of companies focusing on niche market segments. Amidst intense competitive conditions, Green Hydrogen Market Companies are investing in new product launches and strengthening distribution channels. Key companies operating in the Green Hydrogen Market Industry include- Air Liquide SA, Air Products and Chemicals Inc, Cummins Inc, Guangdong Nation-Synergy Hydrogen Power Technology Co. Ltd, H&R Ölwerke Schindler GmbH, Linde Plc, Nel ASA, Siemens Energy AG, Toshiba Energy Systems & Solutions Corp, Wind to Gas Energy GmbH & Co. KG
A significant trend in the Green Hydrogen Market is the increasing focus on renewable energy sources for hydrogen production, driven by efforts to decarbonize the economy and reduce greenhouse gas emissions. As governments, industries, and consumers seek cleaner and more sustainable energy alternatives, there's a growing interest in green hydrogen produced from renewable sources such as wind, solar, and hydroelectric power. This reflects a shift towards green energy solutions that offer carbon-neutral or low-carbon hydrogen production methods, driving market demand for green hydrogen technologies and infrastructure that support renewable energy integration and sustainability goals.
A key driver propelling the Green Hydrogen Market is the government initiatives and supportive policies aimed at promoting hydrogen as a clean energy solution and accelerating the transition to a low-carbon economy. Governments worldwide are implementing various incentives, subsidies, and regulatory frameworks to encourage investment in green hydrogen projects, foster innovation in hydrogen technologies, and create favorable market conditions for green hydrogen deployment. This fuels market growth by providing financial incentives, regulatory certainty, and market certainty for green hydrogen producers, investors, and stakeholders, driving market expansion and adoption of green hydrogen solutions across industries and sectors.
An opportunity in the Green Hydrogen Market lies in the integration of green hydrogen production with existing renewable energy infrastructure to optimize resource utilization, improve energy efficiency, and enhance overall sustainability. By leveraging synergies between renewable energy sources and electrotechnologies, green hydrogen producers can utilize surplus renewable energy generated during off-peak hours or periods of high production to produce hydrogen through electrolysis processes. The opportunity enables green hydrogen producers to capitalize on existing renewable energy assets, reduce energy costs, and increase the competitiveness of green hydrogen as a clean energy solution, driving market growth and market penetration of green hydrogen in various applications such as energy storage, transportation, and industrial processes.
By Technology
By Renewable Source
By End-User
Geographical Analysis
*- List not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Green Hydrogen Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Green Hydrogen Market Size Outlook, $ Million, 2021 to 2030
3.2 Green Hydrogen Market Outlook by Type, $ Million, 2021 to 2030
3.3 Green Hydrogen Market Outlook by Product, $ Million, 2021 to 2030
3.4 Green Hydrogen Market Outlook by Application, $ Million, 2021 to 2030
3.5 Green Hydrogen Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Green Hydrogen Industry
4.2 Key Market Trends in Green Hydrogen Industry
4.3 Potential Opportunities in Green Hydrogen Industry
4.4 Key Challenges in Green Hydrogen Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Green Hydrogen Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Green Hydrogen Market Outlook by Segments
7.1 Green Hydrogen Market Outlook by Segments, $ Million, 2021- 2030
By Technology
Alkaline Electrolysis
PEM Electrolysis
By Renewable Source
Wind Energy
Solar Energy
Others
By End-User
Mobility
Chemical
Power
Grid Injection
Industrial
Others
8 North America Green Hydrogen Market Analysis and Outlook To 2030
8.1 Introduction to North America Green Hydrogen Markets in 2024
8.2 North America Green Hydrogen Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Green Hydrogen Market size Outlook by Segments, 2021-2030
By Technology
Alkaline Electrolysis
PEM Electrolysis
By Renewable Source
Wind Energy
Solar Energy
Others
By End-User
Mobility
Chemical
Power
Grid Injection
Industrial
Others
9 Europe Green Hydrogen Market Analysis and Outlook To 2030
9.1 Introduction to Europe Green Hydrogen Markets in 2024
9.2 Europe Green Hydrogen Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Green Hydrogen Market Size Outlook by Segments, 2021-2030
By Technology
Alkaline Electrolysis
PEM Electrolysis
By Renewable Source
Wind Energy
Solar Energy
Others
By End-User
Mobility
Chemical
Power
Grid Injection
Industrial
Others
10 Asia Pacific Green Hydrogen Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Green Hydrogen Markets in 2024
10.2 Asia Pacific Green Hydrogen Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Green Hydrogen Market size Outlook by Segments, 2021-2030
By Technology
Alkaline Electrolysis
PEM Electrolysis
By Renewable Source
Wind Energy
Solar Energy
Others
By End-User
Mobility
Chemical
Power
Grid Injection
Industrial
Others
11 South America Green Hydrogen Market Analysis and Outlook To 2030
11.1 Introduction to South America Green Hydrogen Markets in 2024
11.2 South America Green Hydrogen Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Green Hydrogen Market size Outlook by Segments, 2021-2030
By Technology
Alkaline Electrolysis
PEM Electrolysis
By Renewable Source
Wind Energy
Solar Energy
Others
By End-User
Mobility
Chemical
Power
Grid Injection
Industrial
Others
12 Middle East and Africa Green Hydrogen Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Green Hydrogen Markets in 2024
12.2 Middle East and Africa Green Hydrogen Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Green Hydrogen Market size Outlook by Segments, 2021-2030
By Technology
Alkaline Electrolysis
PEM Electrolysis
By Renewable Source
Wind Energy
Solar Energy
Others
By End-User
Mobility
Chemical
Power
Grid Injection
Industrial
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
Air Liquide SA
Air Products and Chemicals Inc
Cummins Inc
Guangdong Nation-Synergy Hydrogen Power Technology Co. Ltd
H&R Ölwerke Schindler GmbH
Linde Plc
Nel ASA
Siemens Energy AG
Toshiba Energy Systems & Solutions Corp
Wind to Gas Energy GmbH & Co. KG
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Technology
By Renewable Source
By End-User
Geographical Analysis
The global Green Hydrogen Market is one of the lucrative growth markets, poised to register a 42.3% growth (CAGR) between 2024 and 2030.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Air Liquide SA, Air Products and Chemicals Inc, Cummins Inc, Guangdong Nation-Synergy Hydrogen Power Technology Co. Ltd, H&R Ölwerke Schindler GmbH, Linde Plc, Nel ASA, Siemens Energy AG, Toshiba Energy Systems & Solutions Corp, Wind to Gas Energy GmbH & Co. KG
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume