Green Hydrogen Market

Global Green Hydrogen Market by Renewable Sources (Wind, Solar, and Others), Technology (Alkaline Electrolysis, PEM (Proton Exchange Membrane) Electrolysis, and Solid Oxide Electrolysis), Applications (Power Generation, Transport, and Others), End-users (Chemical, Food, Glass, Medical, Mobility, Petrochemicals, Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

  • Report ID: EP-3989
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 165
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  • Pub. Date: Upcoming
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The global green hydrogen market is anticipated to expand at substantial CAGR of 54.5% during the forecast period, between 2021 and 2028. Hydrogen energy is versatile that can be used as gas or in liquid form, and can be converted into electricity or fuel. Green Hydrogen is a hydrogen-produced fuel that is obtained from electrolysis of water or splitting water with electricity generated by low-carbon power sources such as wind, solar, and other sources. Moreover, green hydrogen can be used as a natural gas and burn it in thermal power or district heating plants. Furthermore, it is directly used as a power fuel cells in cars and ships and stabilize electricity and heat supply by ensuring availability in sufficient quantity related to power fluctuations. Moreover, green hydrogen is highly adopted by various industries such as in ammonia production, food processing, oil refining, chemical and fertilizer production, steel manufacturing, metallurgy and other industries. Additionally, green hydrogen can be used in the industry and stored in existing gas pipeline to power household appliances.

Green Hydrogen Market key takeaways

Market Trends, Drivers, Restraints, and Opportunities:

  • Global trend of net-zero emission by 2050 is boosting the growth of green hydrogen market.
  • Growing demand for fuel cell electric vehicles and low variable costs of electricity are driving the market growth.
  • Ongoing technological advancement and reduction in the price of electrolyzes helps in fueling the growth of the market.
  • Lack of transportation infrastructure and sustainability management and high costs of green hydrogen are restricting the market growth.
  • High cost associated with initial investment for setting-up production plants and underdeveloped market are hindering the growth of the market.
  • Increasing investments and support by government toward encouraging adoption of green hydrogen as well as infrastructure development can further create opportunities for the market.
  • Favorable policies and regulatory framework for green hydrogen and growing large capacity green hydrogen projects are expected to help in generating opportunities for the market.

Scope of the report:

The report on green hydrogen market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Green Hydrogen market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Renewable Sources (Wind, Solar, and Others), Technology (Alkaline Electrolysis, PEM (Proton Exchange Membrane) Electrolysis, and Solid Oxide Electrolysis), Applications (Power Generation, Transport, and Others), and End-users (Chemical, Food, Glass, Medical, Mobility, Petrochemicals, Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

ACWA POWER, Air Liquid, Air Products Inc, Cummins Inc, EDF, Enel Green Power S.p.A, H&R GROUP, Hamburg, Iberdrola, S.A., Nel ASA, Siemens Energy, The State of Atomic Corporation ROSATOM, and Toshiba Energy System & Solution Corporation

 

Green Hydrogen Market Segment Insights:

Solar segment is projected to hold significant market share

In terms of renewable sources, the market can be divided into solar, wing, and other renewable sources. The solar renewable segment held an extensive share of the market in 2020 and is estimated to grow significantly during the forecasted period owing to low-cost energy source in comparison with other type of renewable energy sources. Growing investment in the production of green hydrogen through solar power, as solar power can effectively run electrolyzes to convert water into hydrogen. Additionally, companies all around the world found solar energy as a profitable opportunity to generates green hydrogen directly from solar panels.

Green Hydrogen Market renewable sources

Alkaline electrolysis segment held substantial market share in 2020

Based on technology, the green hydrogen market can be fragmented into alkaline electrolysis, PEM electrolysis, and solid oxide electrolysis. The alkaline electrolysis segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period. The growth of alkaline electrolysis is attributed to its high operating hours’ capacity with the temperature range of 100°C-105°, and are available at inexpensive price as compared to PEM electrolysis as it can operate at a range of 70–90-degree Celsius. Furthermore, the alkaline electrolysis produces highly pure green hydrogen, therefore, it is widely preferred technology for producing green hydrogen worldwide.

Power generation segment is estimated to grow at a rapid pace

On the basis of applications, the market can be segregated into power generation, transport, and others. The power generation segment is expected to hold a majority of the market share during the forecast period due to growing demand from various industrial sectors such as automotive and electronics for on-site setting-up of electrolyzes that helps to increase their manufacturing and production as per the consumer’s demand.

Mobility segment is predicted to hold considerable market share

In terms of end-users, the green hydrogen market can be segregated into chemical, food, glass, medical, mobility, petrochemicals, and others. The mobility segment is expected to hold a considerable share of the market during the forecast period due to increasing demand for vehicles that can require hydrogen as its fuel cells or in the internal combustion engines. Moreover, growing demand and adoption of electric vehicles, which includes aircraft, trains, lorries, buses, mining vehicles, maritime, and others and electronic devices including power semiconductor are also increasing the demand for green hydrogen in automobile industry.

Europe expected to grow at a significant rate during the forecast period

Based on regions, the market can be fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe constituted a significant share of the market in 2020 due to mergers and acquisitions conducted by key market players. The market in Europe is projected to expand at a significant CAGR during the forecast period due to presence of major automotive manufacturers such as Audi, BMW, Ducati, and Porsche. These players are focusing toward the adoption of fuel-efficient engines, and manufacturing lightweight materials for automotive products. Moreover, growing mobility and power industry are aiding in the expansion of the Europe green hydrogen market.

Green Hydrogen Market by regions

Segments

Segments Covered in the Report

By Renewable Sources

  • Wind
  • Solar
  • Others
By Technology
  • Alkaline Electrolysis
  • PEM (Proton Exchange Membrane) Electrolysis
  • Solid Oxide Electrolysis
By Applications
  • Power Generation
  • Transport
  • Others
By End-users
  • Chemical
  • Food
  • Glass
  • Medical
  • Mobility
  • Petrochemicals
  • Others 
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players
  • ACWA POWER
  • Air Liquid
  • Air Products Inc
  • Cummins Inc
  • EDF
  • Enel Green Power S.p.A
  • H&R GROUP
  • Hamburg
  • Iberdrola, S.A.
  • Nel ASA
  • Siemens Energy
  • The State of Atomic Corporation ROSATOM
  • Toshiba Energy System & Solution Corporation

Competitive Landscape

Key players in the market include ACWA POWER, Air Liquid, Air Products Inc, Cummins Inc, EDF, Enel Green Power S.p.A, H&R GROUP, Hamburg, Iberdrola, S.A., Nel ASA, Siemens Energy, The State of Atomic Corporation ROSATOM, and Toshiba Energy System & Solution Corporation. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Green Hydrogen Market by key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Green Hydrogen Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Green Hydrogen Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Green Hydrogen Market - Supply Chain
  4.5. Global Green Hydrogen Market Forecast
     4.5.1. Green Hydrogen Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Green Hydrogen Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Green Hydrogen Market Absolute $ Opportunity
5. Global Green Hydrogen Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Green Hydrogen Market Size and Volume Forecast by End Users
     5.3.1. Chemical
     5.3.2. Food
     5.3.3. Glass
     5.3.4. Medical
     5.3.5. Mobility
     5.3.6. Petrochemicals
     5.3.7. Others 
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Green Hydrogen Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Green Hydrogen Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Green Hydrogen Demand Share Forecast, 2019-2026
7. North America Green Hydrogen Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Green Hydrogen Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Green Hydrogen Market Size and Volume Forecast by End Users
     7.4.1. Chemical
     7.4.2. Food
     7.4.3. Glass
     7.4.4. Medical
     7.4.5. Mobility
     7.4.6. Petrochemicals
     7.4.7. Others 
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Green Hydrogen Demand Share Forecast, 2019-2026
8. Latin America Green Hydrogen Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Green Hydrogen Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Green Hydrogen Market Size and Volume Forecast by End Users
     8.4.1. Chemical
     8.4.2. Food
     8.4.3. Glass
     8.4.4. Medical
     8.4.5. Mobility
     8.4.6. Petrochemicals
     8.4.7. Others 
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Green Hydrogen Demand Share Forecast, 2019-2026
9. Europe Green Hydrogen Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Green Hydrogen Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Green Hydrogen Market Size and Volume Forecast by End Users
     9.4.1. Chemical
     9.4.2. Food
     9.4.3. Glass
     9.4.4. Medical
     9.4.5. Mobility
     9.4.6. Petrochemicals
     9.4.7. Others 
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Green Hydrogen Demand Share Forecast, 2019-2026
10. Asia Pacific Green Hydrogen Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Green Hydrogen Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Green Hydrogen Market Size and Volume Forecast by End Users
     10.4.1. Chemical
     10.4.2. Food
     10.4.3. Glass
     10.4.4. Medical
     10.4.5. Mobility
     10.4.6. Petrochemicals
     10.4.7. Others 
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Green Hydrogen Demand Share Forecast, 2019-2026
11. Middle East & Africa Green Hydrogen Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Green Hydrogen Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Green Hydrogen Market Size and Volume Forecast by End Users
     11.4.1. Chemical
     11.4.2. Food
     11.4.3. Glass
     11.4.4. Medical
     11.4.5. Mobility
     11.4.6. Petrochemicals
     11.4.7. Others 
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Green Hydrogen Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Green Hydrogen Market: Market Share Analysis
  12.2. Green Hydrogen Distributors and Customers
  12.3. Green Hydrogen Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. ACWA POWER
     12.4.2. Air Liquid
     12.4.3. Air Products Inc
     12.4.4. Cummins Inc
     12.4.5. EDF
     12.4.6. Enel Green Power S.p.A
     12.4.7. H&R GROUP
     12.4.8. Hamburg

Segments Covered in the Report

By Renewable Sources

  • Wind
  • Solar
  • Others
By Technology
  • Alkaline Electrolysis
  • PEM (Proton Exchange Membrane) Electrolysis
  • Solid Oxide Electrolysis
By Applications
  • Power Generation
  • Transport
  • Others
By End-users
  • Chemical
  • Food
  • Glass
  • Medical
  • Mobility
  • Petrochemicals
  • Others 
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players
  • ACWA POWER
  • Air Liquid
  • Air Products Inc
  • Cummins Inc
  • EDF
  • Enel Green Power S.p.A
  • H&R GROUP
  • Hamburg
  • Iberdrola, S.A.
  • Nel ASA
  • Siemens Energy
  • The State of Atomic Corporation ROSATOM
  • Toshiba Energy System & Solution Corporation

Key players in the market include ACWA POWER, Air Liquid, Air Products Inc, Cummins Inc, EDF, Enel Green Power S.p.A, H&R GROUP, Hamburg, Iberdrola, S.A., Nel ASA, Siemens Energy, The State of Atomic Corporation ROSATOM, and Toshiba Energy System & Solution Corporation. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Green Hydrogen Market by key players

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