The global green hydrogen market size was worth USD 1 billion in 2021 and is projected to reach USD 72 billion by 2030, growing at a CAGR of 55% during the forecast period (2022–2030). Europe leads the global green hydrogen market owing to huge investments by the European economies, aiming for an energy transition into a clean hydrogen-based economy.

New York, United States, June 29, 2022 (GLOBE NEWSWIRE) -- Electrolyzing water molecules produce green hydrogen to separate hydrogen and oxygen atoms using solar and wind energy. It is manufactured without hydrocarbons, resulting in lower carbon emissions. Green hydrogen can reduce pollution by using renewable energy to power water electrolysis, which is abundant and can be produced at less-than-ideal periods. The primary reason driving the global green hydrogen market is the increased demand for alternative energy resources. Furthermore, increased government investments and incentives encouraging renewable fuels, such as hydrogen, have resulted in a significant surge in green hydrogen usage.

Increase in Concern Toward Reducing Carbon Emissions to Drive the Global Green Hydrogen Market 
Carbon emissions and global warming are causing increasing concern. Governments worldwide have put in place a variety of policies and regulations that demand a decrease in carbon emissions from diverse industries. Electrolysis is a method of producing hydrogen in which water is split into hydrogen and oxygen using electricity. Renewable or nonrenewable energy sources are employed to generate electricity.
Hydrogen can also be produced using electrolyzers with solar or wind-powered electricity generation. This technology promotes the creation of green hydrogen with no environmental impact. As a result, many enterprises choose on-site electrolyzers with capacities ranging from 1 to 5 MW to reduce their carbon footprint, which contributes significantly to the global market's growth.

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/green-hydrogen-market/request-sample

Favorable Government Policies Encouraging Electric Vehicles to Provide Opportunities for the Global Green Hydrogen Market
Hydrogen fuel cells are used as a battery in electric vehicles. Electric vehicles reduce carbon emissions, which reduces air pollution and, to some extent, reduces the consumption of increasingly depleting fossil fuels. As a result, several governments are offering various regulations and incentives to users and manufacturers to stimulate the usage of electric vehicles.
Governments throughout the world, for example, are constructing public infrastructure and installing electric public transportation systems. Furthermore, as the demand for electric vehicles grows, the need for hydrogen is predicted to drive up the demand for electrolyzers. As a result, these parameters are likely to provide lucrative opportunities for industry expansion during the forecast period.

Regional Insights
Region-wise, the Global Green Hydrogen market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 
Europe leads the global green hydrogen market owing to huge investments by the European economies, aiming for an energy transition into a clean hydrogen-based economy. It is estimated to reach a predicted value of USD 10360 million by 2030 at a CAGR of 55%. Europe provides stored hydrogen to North Africa and other regions through interconnections, positively impacting the green hydrogen market growth.
Asia-Pacific comprises China, Japan, India, South Korea, and the rest of Asia-Pacific. It is estimated to reach a predicted value of USD 4805 million by 2030 at a CAGR of 55%. Asia-Pacific is the fastest-growing region, with Australia and Japan the most significant contributors. The Asia-Pacific green hydrogen market share is also propelled by substantial policy changes to increase green energy production and large-scale green hydrogen projects in Australia and Japan.
North America is the second largest region. It is estimated to reach a predicted value of USD 7135 million by 2030 at a CAGR of 55%. The rise in deployment of renewable energy resources in residential and commercial areas, fueled by customer buying power, and regulatory changes, are significant factors that propel the growth of the green hydrogen market.

Buy Now Full Report @ https://straitsresearch.com/buy-now/green-hydrogen-market/

Key Highlights

• The global green hydrogen market was worth USD 1 billion in 2021 and is projected to reach USD 72 billion by 2030, growing at a CAGR of 55% during the forecast period (2022–2030).

• By technology, the global green hydrogen market is classified into proton exchange membrane electrolyzer, alkaline electrolyzer, and solid oxide electrolyzer. The alkaline electrolyzers segment dominates the global green hydrogen market and is projected to remain the fastest-growing segment. It is estimated to reach a predicted value of USD 12495 million by 2030 at a CAGR of 55%. Alkaline electrolyzes are cheaper than PEM electrolyzers, which is expected to boost segment growth in the future.

• The PEM electrolyzer segment is anticipated to rise fastest during the forecast period. It is estimated to reach a predicted value of USD 10100 million by 2030 at a CAGR of 55%. PEM electrolyzer has more mechanical stability than alkaline equivalent, owing to the presence of solid specialty plastic material-based electrolyte.

• The solid oxide electrolyzer is the third-largest market. It is estimated to reach a predicted value of USD 280 million by 2030 at a CAGR of 51%. The SOEs operate at higher temperatures such as above 500°C. Using electrolyzers at higher temperatures acts as a driving factor for market growth.

• By application, the global green hydrogen market is segmented into power generation, transport, and others. The power generation segment dominated the green hydrogen market and is projected to remain the fastest-growing segment. It is estimated to reach a predicted value of USD 17605 million by 2030 at a CAGR of 55%. Hydrogen is regarded as an alternative to fossil fuels as water re-use is continuous. Moreover, wind and solar energy sources for electricity used in electrolysis have driven the electrolyzer market growth.

• The transport segment is estimated to grow at a moderate rate during the forecast period. It is estimated to reach a predicted value of USD 4240 million by 2030 at a CAGR of 54%. Fuel cell vehicles (FCVs) are currently available in many countries such as Germany and the U.S. These FCVs are available in buses, heavy & light-duty trucks, material handling, unmanned aerial vehicle, rail, and marine transportation.

• By end-use industry, the global green hydrogen market is divided into food & beverages, medical, chemical, petrochemicals, glass, and others. In 2020, the petrochemicals segment dominated the green hydrogen market and was projected to remain the fastest-growing segment. It is estimated to reach a predicted value of USD 9925 million by 2030 at a CAGR of 55%.

• The food and beverages segment is estimated to grow moderately during the forecast period. It is estimated to reach a predicted value of USD 5115 million by 2030 at a CAGR of 55%. A reliable power source is needed to keep daily operations in manufacturing, distribution, or packaging/bottling facility running smoothly and efficiently. Fuel cells are used by several businesses in the U.S. food industry to provide electricity and, in some cases, heating and cooling manufacturing sites.

• The medical segment is the third-largest market. It is estimated to reach a predicted value of USD 2320 million by 2030 at a CAGR of 55%. Hydrogen (H2) has been a preventative and therapeutic benefit in various organs, including the brain, heart, pancreas, lungs, and liver. Hence, the use of hydrogen in the medical sector propels the growth of the green hydrogen market.

Get a Free Sample Copy of This Report @  https://straitsresearch.com/report/green-hydrogen-market/request-sample

Competition Landscape

• Hydrogenics Ballard Power Systems

• Engie

• Enapter

• Green Hydrogen Systems

• Plug Power

• Nikola Motors

• SGH2 Energy Global LLC

• Shell

• Siemens Gas and Power GmbH & Co. KG.

Global Green Hydrogen Market: Segmentation

By Technology

• Proton Exchange Membrane Electrolyzer

• Alkaline Electrolyzer

• Solid Oxide Electrolyzer

By Application

• Power Generation

• Transport

• Others

By End-use Industry

• Food & Beverages

• Medical

• Chemical

• Petrochemicals

• Glass

• Others

By Region

• North America

• Europe

• Asia-Pacific

• LAMEA

TABLE OF CONTENT

1          Introduction

1.1       Market Definition

1.2       Market Scope

2          Research Methodology

2.1       Primary Research

2.2       Research Methodology

2.3       Assumptions & Exclusions

2.4       Secondary Data Sources

3          Executive Summary

4          Market Overview

4.1       Report Segmentation & Scope

4.2       Value Chain Analysis: Green Hydrogen Market

4.2.1   Vendor Matrix

4.3       Key Market Trends

4.3.1   Drivers

4.3.2   Restraints

4.3.3   Opportunities

4.4       Porter’s Five Forces Analysis

4.4.1   Bargaining Power of Suppliers

4.4.2   Bargaining Power of Buyers

4.4.3   Threat of Substitution

4.4.4   Threat of New Entrants

4.4.5   Competitive Rivalry

4.5       Environmental & Regulatory Landscape

4.6       Forecast Factors & Relevance of Impact

4.7       Macro-Economic & Geopolitical Scenario

4.8       Parent Market Overview

4.9       Technology Landscape

4.10    Market Share Analysis

4.11    Potential Venture Analysis

4.12    COVID-19 impact Analysis

4.12.1 Pre and Post COVID-19 Impact Scenario

4.12.2 Market Challenges and Recovery Timeline

4.12.3 Quartely Growth Estimation and Forecast (2020–2021)

4.13    Regional Price Trends

4.14    Raw Technology Trends

4.15    Cost Structure Analysis

4.15.1 Labor Cost

4.15.2 Consumables

4.15.3 Maintenance Cost

5          Technology Overview

5.1       Introduction

5.1.1   Market Size & Forecast (Value & Volume)

5.2       Alkaline Electrolyser

5.2.1   Market Size & Forecast (Value & Volume)

5.3       Polymer Electrolyte Membrane (PEM) Electrolyser

5.3.1   Market Size & Forecast (Value & Volume)

5.4       Solid Oxide Electrolyser

5.4.1   Market Size & Forecast (Value & Volume)

5.5       Bio-Ketones

5.5.1   Market Size & Forecast (Value & Volume)

6          Application Overview

6.1       Introduction

6.1.1   Market Size & Forecast (Value & Volume)

6.2       Power Generation

6.2.1   Market Size & Forecast (Value & Volume)

6.3       Transport

6.3.1   Market Size & Forecast (Value & Volume)

6.4       Other

6.4.1   Market Size & Forecast (Value & Volume)

7          Regional Overview

7.1      Introduction

7.1.1   Market Size & Forecast (Value & Volume)

7.2      North America

7.2.1   Economic Overview

7.2.2   Market Scenario

7.2.3   The U.S.

7.2.3.1            By Technology

7.2.3.2            By Application

7.2.4   Canada

7.2.4.1            By Technology

7.2.4.2            By Application

7.2.5   Mexico

7.2.5.1            By Technology

7.2.5.2            By Application

7.3      Central and South America and the Caribbean

7.3.1   Economic Overview

7.3.2   Market Scenario

7.3.3   Brazil

7.3.3.1            By Technology

7.3.3.2            By Application

7.3.4   Argentina

7.3.4.1            By Technology

7.3.4.2            By Application

7.3.5   Columbia

7.3.5.1            By Technology

7.3.5.2            By Application

7.3.6   The Rest of Central and South America and the Caribbean

7.3.6.1            By Technology

7.3.6.2            By Application

7.4      Europe

7.4.1   Economic Overview

7.4.2   Market Scenario

7.4.3   Germany

7.4.3.1            By Technology

7.4.3.2            By Application

7.4.4   France

7.4.4.1            By Technology

7.4.4.2            By Application

7.4.5   The U.K.

7.4.5.1            By Technology

7.4.5.2            By Application

7.4.6   Italy

7.4.6.1            By Technology

7.4.6.2            By Application

7.4.7   The Rest of Europe

7.4.7.1            By Technology

7.4.7.2            By Application

7.5      Asia-Pacific (APAC)

7.5.1   Economic Overview

7.5.2   Market Scenario

7.5.3   China

7.5.3.1            By Technology

7.5.3.2            By Application

7.5.4   Japan

7.5.4.1            By Technology

7.5.4.2            By Application

7.5.5   India

7.5.5.1            By Technology

7.5.5.2            By Application

7.5.6   Australia

7.5.6.1            By Technology

7.5.6.2            By Application

7.5.7   South Korea

7.5.7.1            By Technology

7.5.7.2            By Application

7.5.8   The Rest of APAC

7.5.8.1            By Technology

7.5.8.2            By Application

7.6      The Middle East

7.6.1   Economic Overview

7.6.2   Market Scenario

7.6.3   Saudi Arabia

7.6.3.1            By Technology

7.6.3.2            By Application

7.6.4   The UAE

7.6.4.1            By Technology

7.6.4.2            By Application

7.6.5   Qatar

7.6.5.1            By Technology

7.6.5.2            By Application

7.6.6   Oman

7.6.6.1            By Technology

7.6.6.2            By Application

7.6.7   Turkey

7.6.7.1            By Technology

7.6.7.2            By Application

7.6.8   The Rest of MEA

7.6.8.1            By Technology

7.6.8.2            By Application

7.7      Africa

7.7.1   Economic Overview

7.7.2   Market Scenario

7.7.3   Nigeria

7.7.3.1            By Technology

7.7.3.2            By Application

7.7.4   South Africa

7.7.4.1            By Technology

7.7.4.2            By Application

7.7.5   The Rest of Africa

7.7.5.1            By Technology

7.7.5.2            By Application

8          Competitive Landscape — Manufacturers & Suppliers

8.1      Competition Dashboard

8.2      Industry Structure

8.3      LINDE

8.3.1   Business Overview

8.3.2   Financial Performance

8.3.3   Recent Developments

8.3.4   Product Portfolio

8.4      Air Liquide

8.4.1   Business Overview

8.4.2   Financial Performance

8.4.3   Recent Developments

8.4.4   Product Portfolio

8.5      Air Products and Chemicals, Inc.

8.5.1   Business Overview

8.5.2   Financial Performance

8.5.3   Recent Developments

8.5.4   Product Portfolio

8.6      Engie

8.6.1   Business Overview

8.6.2   Financial Performance

8.6.3   Recent Developments

8.6.4   Product Portfolio

8.7      Uniper SE

8.7.1   Business Overview

8.7.2   Financial Performance

8.7.3   Recent Developments

8.7.4   Product Portfolio

8.8      Siemens

8.8.1   Business Overview

8.8.2   Financial Performance

8.8.3   Recent Developments

8.8.4   Product Portfolio

8.9      Green Hydrogen Systems

8.9.1   Business Overview

8.9.2   Financial Performance

8.9.3   Recent Developments

8.9.4   Product Portfolio

8.10    Hydrogenics

8.10.1 Business Overview

8.10.2 Financial Performance

8.10.3 Recent Developments

8.10.4 Product Portfolio

8.11    Toshiba Energy Systems & Solutions Corporation

8.11.1 Business Overview

8.11.2 Financial Performance

8.11.3 Recent Developments

8.11.4 Product Portfolio

8.12    Nel ASA

8.12.1 Business Overview

8.12.2 Financial Performance

8.12.3 Recent Developments

8.12.4 Product Portfolio

8.13    Statkraft

8.13.1 Business Overview

8.13.2 Financial Performance

8.13.3 Recent Developments

8.13.4 Product Portfolio

8.14    SGH2 Energy LLC

8.14.1 Business Overview

8.14.2 Financial Performance

8.14.3 Recent Developments

8.14.4 Product Portfolio

9          Conclusion & Recommendation

10        Acronyms & Abbreviations

Read the full Report Description with Table of Content and Figure @ https://straitsresearch.com/report/green-hydrogen-market/toc

Market News

• April 2022 – TC Energy Corporation reviewed its concept for a hydrogen generation hub on 140 acres in Crossfield, Alberta, where the enterprise runs a natural gas storage plant, with the help of Nikola Corporation (Nasdaq: NKLA). The idea was unveiled at Edmonton, Alberta's first-ever Canadian Hydrogen Convention. TC Energy anticipates making a final investment decision by 2023, subject to customary regulatory approvals. 

News Media

Japan and China Significantly Contribute to Asia-Pacific’s Tight Hold on the Green Hydrogen Market

Have a Look at the Related Research Report

Distributed Solar Power Generation Market: Information by Product Type (Monocrystalline (Mono-Si)), Installation (Ground Mounted), Application, End-User, and Region — Forecast till 2029

Hydrogen Peroxide Market: Information by Grade (Food Grade, Industrial Grade), Function (Sterilizing/Disinfecting), End-User Industry (Pulp and Paper), and Region — Forecast till 2029

Hydrogen Compressor Market: Information by Technology (Multi/Single-Stage), Pressure (200-900 Bar), Type (Oil-Free and Oil-Based), End-User (Gas Sector), and Region — Forecast till 2029

Metal Hydride Market: Information by Metal Hydride (Alloys Metal Hydride and Complex Metal Hydride), Application (Fuel Cell, Heat Pumps), and Region — Forecast till 2026

Solar Battery Market: Information by Type (Lead Acid, Lithium-Ion, Flow Battery), End-User (Industrial, Commercial, Residential), and Region — Forecast till 2030

Quantum Dot Solar Cell Market: Information by Type (Metal-Semiconductor Junction Solar Cell), Application (Commercial, Industrial), and Region — Forecast till 2029

About Straits Research Pvt. Ltd.

StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

For more information on your target market, please contact us below:

Phone: +1 646 480 7505 (the U.S.)

+91 8087085354 (APAC)

+44 208 068 9665 (the U.K.)

Email: sales@straitsresearch.com

Follow Us: LinkedIn | Facebook | Instagram | Twitter