The Green Hydrogen Market was valued at USD 6.57 Billion in 2023 and is projected to reach USD 133.50 Billion by 2032, growing at a compound annual growth rate (CAGR) of 39.80% from 2024 to 2032.
The demand for the global hydrogen market is high due to the awareness and the benefits of the hydrogen like it can be used as an energy carrier. Hydrogen can be used in many more applications, it is said that hydrogen is used as a key pillar for the decarbonisation for industry, according to the reports this year in Sweden the first pilot project for producing carbon free steel using low carbon hydrogen began. As it is said that hydrogen is an energy carrier due to which it has scope to enter new markets. Green hydrogen can be used in many sectors to reduce the carbon specially transportation and shipping as well, because the carbon produce by the ships may affect marine life hence green hydrogen can be a solution provider which is the driving factor for green hydrogen market.
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Covid-19 had a negative impact on the green hydrogen market due to the stop in the production due to the lockdown rules imposed by the government whereas due to the disruption of supply chain, hence the rise in demand for the green hydrogen market post covid government is taking initiatives to support the production of green hydrogen market and also building new projects.
Drivers
Rise in demand of green hydrogen production due to the decarbonization benefit.
Restrain
Several energy losses during the process of hydrogen creation.
Opportunities
The efforts to reduce the CO2 emissions to net zero by 2050.
The participation of government and several committees in this mission.
Challenges
Legal Issues all around the globe
Social concerns and the cost factor which includes the maintenance operations and functioning costs
According to the sources there has been a great demand for green hydrogen market due to the war between Russia and Ukraine, also the statements given by the several leaders working in green hydrogen industry that it will be obvious the prices are going to increase but the shift in the perception of people and government towards the clean source of energy and also greener source of energy which also helps to reduce the emission which will result in climate change. Looking at the future the green hydrogen will bring a good impact for the environment and also for the mankind which states that the demand for the green hydrogen market will be high during the war as well According to the news there has been several project plans to develop the technology to create green hydrogen.
Impact of ongoing recession
There has been a lot of investment from every country in green hydrogen market due to the awareness of benefits due to the green hydrogen, nowadays almost every industry demands for the green hydrogen also the support from government and the several committees and institutes in favour of green hydrogen market there has been a positive result as the benefits regarding the changes in climate and the lesser emission impact will be the driving factor. So, the recession will not have a major impact on the green hydrogen market apart from the economic barriers .
By Application
Power generations
Transportations
Methanol Production
By Technology
Alkaline electrolyzer
Polymer electrolyte Membrane
By Distribution Channel
Pipeline
Cargo
By End User
Chemical
Power
Medical
Automobile
others
Asia pacific is expected to dominate the green hydrogen market due to the rise in the demand of the green hydrogen to control the emission of carbon, mostly automobile industry action towards cutting the emission caused by the petrol or diesel is the driving factor for green hydrogen market.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major players are linde plc, Engie, Nel asa, bloom energy, air liquid, air products Inc., Cummins, Engie, and other key players will be included in the final report.
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.0 Bn |
| Market Size by 2031 | US$ 49.8 Bn |
| CAGR | CAGR of 63% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Application (Power Generations, Transportations, Methanol Production) • By Technology (Alkaline electrolyze, Polymer electrolyte Membrane) • By Distribution channel (Pipeline, cargo) • By End User (Chemical, Power, Medical, automobile) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | linde pc, Engie, Nel asa, bloom energy, air liquid, air products Inc., Cummins, Engie and other |
| Key Drivers | • Rise in demand of green hydrogen production due to the decarbonization benefit. |
| Market Opportunities | • The efforts to reduce the CO2 emissions to net zero by 2050. • The participation of government and several committees in this mission. |
The CAGR rate is expected to be 63% during the forecasted period.
Green hydrogen market size was valued at USD 1.0 billion in 2023 and is expected to grow at USD 49.8 billion by 2031, and grow at a CAGR of 63% over the forecast period of 2024-2031.
Covid-19 had a negative impact on the green hydrogen market.
Rise in demand of green hydrogen production due to the decarbonization benefit.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of the Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Green hydrogen Market Segmentation, by Application
8.1 Power generations
8.2 Transportations
8.3 Methanol Production
9. Green hydrogen Market Segmentation, by technology
9.1 Alkaline electrolyze
9.2 Polymer electrolyte Membrane
10 Green hydrogen Market Segmentation, by distribution channel
10.1 Pipeline
10.2 Cargo
11.Green hydrogen Market Segmentation, by end user
11.1 Chemical
11.2 Power
11.3 Medical
11.4 Automobile
11.5 others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.1.1 USA Green hydrogen Market by Application
12.2.1.2 USA Green hydrogen Market by Technology
12.2.1.3 USA Green hydrogen Market by End User
12.2.1.4 USA Green hydrogen Market by Distribution Channel
12.2.2 Canada
12.2.2.1 Canada Green hydrogen Market by Application
12.2.2.2 Canada Green hydrogen Market by Technology
12.2.2.3 Canada Green hydrogen Market by End User
12.2.2.4 USA Green hydrogen Market by Distribution Channel
12.2.3 Mexico
12.2.3.1 Mexico Green hydrogen Market by Application
12.2.3.2 Mexico Green hydrogen Market by Technology
12.2.3.3 Mexico Green hydrogen Market by End User
12.2.3.4 USA Green hydrogen Market by Distribution Channel
12.3 Europe
12.3.1 Germany
12.3.1.1 Germany Green hydrogen Market by Application
12.3.1.2 Germany Green hydrogen Market by Technology
12.3.1.3 Germany Green hydrogen Market by End User
12.3.1.4 USA Green hydrogen Market by Distribution Channel
12.3.2 UK
12.3.2.1 UK Green hydrogen Market by Application
12.3.2.2 UK Green hydrogen Market by Technology
12.3.2.3 UK Green hydrogen Market by End User
12.3.2.4 USA Green hydrogen Market by Distribution Channel
12.3.3 France
12.3.3.1 France Green hydrogen Market by Application
12.3.3.2 France Green hydrogen Market by Technology
12.3.3.3 France Green hydrogen Market by End User
12.3.3.4 USA Green hydrogen Market by Distribution Channel
12.3.4 Italy
12.3.4.1 Italy Green hydrogen Market by Application
12.3.4.2 Italy Green hydrogen Market by Technology
12.3.4.3 Italy Green hydrogen Market by End User
12.3.4.4 USA Green hydrogen Market by Distribution Channel
12.3.5 Spain
12.3.5.1 Spain Green hydrogen Market by Application
12.3.5.2 Spain Green hydrogen Market by Technology
12.3.5.3 Spain Green hydrogen Market by End User
12.3.5.4 USA Green hydrogen Market by Distribution Channel
12.3.6 The Netherlands
12.3.6.1 Netherlands Green hydrogen Market by Application
12.3.6.2 Netherlands Green hydrogen Market by Technology
12.3.6.3 Netherlands Green hydrogen Market by End User
12.3.6.4 USA Green hydrogen Market by Distribution Channel
12.3.7 Rest of Europe
12.3.7.1 Rest of Europe Green hydrogen Market by Application
12.3.7.2 Rest of Europe Green hydrogen Market by Technology
12.3.7.3 Rest of Europe Green hydrogen Market by End User
12.3.7.4 USA Green hydrogen Market by Distribution Channel
12.4 Asia-Pacific
12.4.1 Japan
12.4.1.1 Japan Green hydrogen Market by Application
12.4.1.2 Japan Green hydrogen Market by Technology
12.4.1.3 Japan Green hydrogen Market by End User
12.4.1.4 USA Green hydrogen Market by Distribution Channel
12.4.2 South Korea
12.4.2.1 South Korea Green Hydrogen Market by Application
12.4.2.2 South Korea Green Hydrogen Market by Technology
12.4.2.3 South Korea Green Hydrogen Market by End User
12.4.2.4 USA Green hydrogen Market by Distribution Channel
12.4.3 China
12.4.3.1 China Green hydrogen Market by Application
12.4.3.2 China Green hydrogen Market by Technology
12.4.3.3 China Green hydrogen Market by End User
12.4.3.4 USA Green hydrogen Market by Distribution Channel
12.4.4 India
12.4.4.1 India Green hydrogen Market by Application
12.4.4.2 India Green hydrogen Market by Technology
12.4.4.3 India Green hydrogen Market by End User
12.4.4.4 USA Green hydrogen Market by Distribution Channel
12.4.5 Australia
12.4.5.1 Australia Green hydrogen Market by Application
12.4.5.2 Australia Green hydrogen Market by Technology
12.4.5.3 Australia Green hydrogen Market by End User
12.4.5.4 USA Green hydrogen Market by Distribution Channel
12.4.6 Rest of Asia-Pacific
12.4.6.1 APAC Green hydrogen Market by Application
12.4.6.2 APAC Green hydrogen Market by Technology
12.4.6.3 APAC Green hydrogen Market by End User
12.4.6.4 USA Green hydrogen Market by Distribution Channel
12.5 The Middle East & Africa
12.5.1 Israel
12.5.1.1 Israel Green hydrogen Market by Application
12.5.1.2 Israel Green hydrogen Market by Technology
12.5.1.3 Israel Green hydrogen Market by End User
12.5.1.4 USA Green hydrogen Market by Distribution Channel
12.5.2 UAE
12.5.2.1 UAE Green hydrogen Market by Application
12.5.2.2 UAE Green hydrogen Market by Technology
12.5.2.3 UAE Green hydrogen Market by End User
12.5.2.4 USA Green hydrogen Market by Distribution Channel
12.5.3 South Africa
12.5.3.1 South Africa Green Hydrogen Market by Application
12.5.3.2 South Africa Green Hydrogen Market by Technology
12.5.3.3 South Africa Green Hydrogen Market by End User
12.5.3.4 USA Green hydrogen Market by Distribution Channel
12.5.4 Rest of Middle East & Africa
12.5.4.1 Rest of Middle East & Asia Green hydrogen Market by Application
12.5.4.2 Rest of Middle East & Asia Green hydrogen Market by Technology
12.5.4.3 Rest of Middle East & Asia Green hydrogen Market by End User
12.5.4.4 USA Green hydrogen Market by Distribution Channel
12.6 Latin America
12.6.1 Brazil
12.6.1.1 Brazil Green hydrogen Market by Application
12.6.1.2 Brazil Africa Green hydrogen Market by Technology
12.6.1.3 Brazil Green hydrogen Market by End User
12.6.1.4 USA Green hydrogen Market by Distribution Channel
12.6.2 Argentina
12.6.2.1 Argentina Green hydrogen Market by Application
12.6.2.2 Argentina Green hydrogen Market by Technology
12.6.2.3 Argentina Green hydrogen Market by End User
12.6.2.4 USA Green hydrogen Market by Distribution Channel
12.6.3 Rest of Latin America
12.6.3.1 Rest of Latin America Green Hydrogen Market by Application
12.6.3.2 Rest of Latin America Green Hydrogen Market by Technology
12.6.3.3 Rest of Latin America Green Hydrogen Market by End User
12.6.3.4 USA Green hydrogen Market by Distribution Channel
13. Company Profile
13.1 linde pc,
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Product/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Engie,
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Product/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Nel asa
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Product/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 bloom energy
13.4.1 Market Overview
13.4.2 Financials
13.4.3 Product/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 air liquid
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Product/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Air Products Inc
13.6.1 Market Overview
13.6.2 Financials
13.6.3 Product/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Cummins
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Product/Services/Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Engie
13.8.1 Market Overview
13.8.2 Financials
13.8.3 Product/Services/Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Use Cases and Best Practices
16. Conclusion
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