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Green Hydrogen Market

Green Hydrogen Market by Technology (Alkaline Electrolysis, Biomass Gasification, Proton Exchange Membrane (PEM) Electrolysis) by Resource (Solar Resources, Water Resources, Wind Resources, Biomass Resources) by Application ( Medical, Chemical, Petrochemicals, Transport, Others) – Growth, Future Prospects And Competitive Analysis, 2016 – 2028

Summary
Table Of Content

Green Hydrogen Market Analysis

Unlike grey hydrogen, green hydrogen is generated using completely renewable resources or lower carbon-emitting power resources. Different technologies can be deployed in manufacturing green hydrogen using various power sources. Green hydrogen generation technology is still in the phase of evolution and will likely emerge as one of the mainstream technologies by the end of the analysis period.

The Global Green Hydrogen market is expected to witness a CAGR of 16.66% during the forecast period. The revenue generated by the global Green Hydrogen market in 2021 was over USD 941.16 million and is expected to generate revenue worth USD 2,846.52 million in 2028. Therefore, the incremental growth opportunity offered by the global Green Hydrogen is estimated to be USD 13.38 billion between 2022 and 2028.

Interesting Facts about Green Hydrogen Industry

70 million tons of hydrogen are produced globally every year
The production cost of hydrogen from renewable resources is twice as much as natural gas and four times that of coal.
More than 16 countries have favorable policies for hydrogen to be used in transportation.
Around 50 targets, mandates, and policy incentives are in place today that directly support hydrogen, with the majority focused on transport.
Hydrogen production from fossil fuels produces CO2 emissions of around 830 million tons.

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Biomass Gasification to Grow at a Rapid Pace

Alkaline Electrolysis, Biomass Gasification, and Proton Exchange Membrane (PEM) Electrolysis are some of the significant technologies deployed in the production of green hydrogen. Biomass Gasification has been gaining much traction over the past few years. Biomass gasification is increasingly being recognized as a critical element in decarbonizing. Biomass gasification is an efficient alternative to green hydrogen production technologies with carbon neutral potential. In contrast, Alkaline Electrolysis dominates the present-day green hydrogen production with over 40% share in 2021. On the other hand, Proton Exchange Membrane (PEM) also holds a significant percentage of the green hydrogen generation market.

Favorable Government Policies to Fuel the Demand for Green Hydrogen Market

An attempt to lower the CO2 emission while increasing the production of hydrogen is leading countries worldwide to draft favorable policies that encourage industry participants to enter into green hydrogen manufacturing practices. Manu countries such as Japan, South Korea, China, and Australia are leading the green hydrogen production as they have limited access to natural gas for hydrogen production. The aforementioned countries have set targets to reach a specific volume of hydrogen using renewable resources coupled with incentives and other facilities. Currently, many countries have set targets, policies, and mandates regarding green hydrogen production in place.

High Cost of Green Hydrogen to Remain a Major Challenge

The high cost of hydrogen generation using renewable resources has remained a significant challenge for the growth of the green hydrogen industry. Compared to its counterparts, that is, hydrogen produced using natural gas and coal, renewable resources based on hydrogen costs are significantly high. Hydrogen generation using natural gas can cost up to USD 0.9 to USD 3.2 per kilo and around USD 1.2 to USD 2.2 per kg for coal. On the other hand, renewable resources-based hydrogen generation can easily cost as high as USD 3.10 to USD 7.5 per kg. Moreover, countries such as Russia, the U.S., and Middle Eastern Countries, where natural gas is abundant, are reluctant to adopt green hydrogen production technologies owing to their higher cost. This, in turn, affects the growth rate of this industry.

Water Resources Segment to Hold Significant Share

Solar, water, wind, and Biomass Resources are some of the significant renewable resources used in green hydrogen generation. Water resources accounted for over 30% of the total green hydrogen generation in 2021. Water resource has remained the cleanliest energy resource. While biomass resource is likely to gain increasing demand over the forecast period.

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Transport Application to Increase at a Rapid Pace

Medical, Chemical, Petrochemicals, Transport, and Others are some of the leading global green hydrogen market application markets. Transportation is expected to experience increasing adoption in transportation applications over the forecast period. Australia, Japan, South Korea, and China are likely to witness considerable growth in the usage of green hydrogen in the transportation sector. While the U.S., Europe, and the Middle East register slow growth in the green hydrogen market. Some of the key players involved in the green hydrogen market include but are not limited to AIR LIQUIDE, Ballard Power Systems, Cummins Inc., Engie, Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd., Linde, Plug Power Inc., Royal Dutch Shell PLC, SGH2 Energy Global LLC, and Siemens

1. Preface

1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Green Hydrogen Market

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Green Hydrogen Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Technology
3.3.2. Renewable Resources
3.3.3. Application
3.3.4. Geography
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Technologys
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Top 6 Players
4.3. Top 3 Players
4.4. Major Strategies Adopted by Key Players

5. COVID 19 Impact Analysis
5.1. Global Green Hydrogen Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply

6. North America
6.1. North America Green Hydrogen Market, by Country, 2016-2028(US$ Bn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Green Hydrogen Market, by Technology, 2016-2028(US$ Bn)
6.2.1. Overview
6.2.2. Alkaline Electrolysis
6.2.3. Biomass Gasification
6.2.4. Proton Exchange Membrane (PEM) Electrolysis
6.3. North America Green Hydrogen Market, by Application, 2016-2028(US$ Bn)
6.3.1. Overview
6.3.2. Medical
6.3.3. Chemical
6.3.4. Petrochemicals
6.3.5. Transport
6.3.6. Others
6.4. North America Green Hydrogen Market, by Renewable Resources, 2016-2028(US$ Bn)
6.4.1. Overview
6.4.2. Solar Resources
6.4.3. Water Resources
6.4.4. Wind Resources
6.4.5. Biomass Resources

7. Europe
7.1. Europe Green Hydrogen Market, by Country, 2016-2028(US$ Bn)
7.1.1. UK
7.1.2. France
7.1.3. Germany
7.1.4. Italy
7.1.5. Russia
7.1.6. Spain
7.1.7. Belgium
7.1.8. Netherland
7.1.9. Austria
7.1.10. Sweden
7.1.11. Poland
7.1.12. Denmark
7.1.13. Switzerland
7.1.14. Rest of Europe
7.2. Europe Green Hydrogen Market, by Technology, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. Alkaline Electrolysis
7.2.3. Biomass Gasification
7.2.4. Proton Exchange Membrane (PEM) Electrolysis
7.3. Europe Green Hydrogen Market, by Application, 2016-2028(US$ Bn)
7.3.1. Overview
7.3.2. Medical
7.3.3. Chemical
7.3.4. Petrochemicals
7.3.5. Transport
7.3.6. Others
7.4. Europe Green Hydrogen Market, by Renewable Resources, 2016-2028(US$ Bn)
7.4.1. Overview
7.4.2. Solar Resources
7.4.3. Water Resources
7.4.4. Wind Resources
7.4.5. Biomass Resources

8. Asia Pacific
8.1. Asia Pacific Green Hydrogen Market, by Country, 2016-2028(US$ Bn)
8.1.1. China
8.1.2. Japan
8.1.3. South Korea
8.1.4. India
8.1.5. Australia
8.1.6. New Zealand
8.1.7. Taiwan
8.1.8. Southeast Asia
8.1.9. Central Asia
8.1.10. Rest of Asia Pacific
8.2. Asia Pacific Green Hydrogen Market, by Technology, 2016-2028(US$ Bn)
8.2.1. Overview
8.2.2. Alkaline Electrolysis
8.2.3. Biomass Gasification
8.2.4. Proton Exchange Membrane (PEM) Electrolysis
8.3. Asia Pacific Green Hydrogen Market, by Application, 2016-2028(US$ Bn)
8.3.1. Overview
8.3.2. Medical
8.3.3. Chemical
8.3.4. Petrochemicals
8.3.5. Transport
8.3.6. Others
8.4. Asia Pacific Green Hydrogen Market, by Renewable Resources, 2016-2028(US$ Bn)
8.4.1. Overview
8.4.2. Solar Resources
8.4.3. Water Resources
8.4.4. Wind Resources
8.4.5. Biomass Resources

9. Latin America
9.1. Latin America Green Hydrogen Market, by Country, 2016-2028(US$ Bn)
9.1.1. Brazil
9.1.2. Argentina
9.1.3. Peru
9.1.4. Chile
9.1.5. Colombia
9.1.6. Rest of Latin America
9.2. Latin America Green Hydrogen Market, by Technology, 2016-2028(US$ Bn)
9.2.1. Overview
9.2.1.1. Alkaline Electrolysis
9.2.1.2. Biomass Gasification
9.2.1.3. Proton Exchange Membrane (PEM) Electrolysis
9.3. Latin America Green Hydrogen Market, by Application, 2016-2028(US$ Bn)
9.3.1. Overview
9.3.2. Medical
9.3.3. Chemical
9.3.4. Petrochemicals
9.3.5. Transport
9.3.6. Others
9.4. Latin America Green Hydrogen Market, by Renewable Resources, 2016-2028(US$ Bn)
9.4.1. Overview
9.4.2. Solar Resources
9.4.3. Water Resources
9.4.4. Wind Resources
9.4.5. Biomass Resources

10. Middle East
10.1. Middle East Green Hydrogen Market, by Country, 2016-2028(US$ Bn)
10.1.1. UAE
10.1.2. KSA
10.1.3. Israel
10.1.4. Turkey
10.1.5. Iran
10.1.6. Rest of Middle East
10.2. Middle East Green Hydrogen Market, by Technology, 2016-2028(US$ Bn)
10.2.1. Overview
10.2.2. Alkaline Electrolysis
10.2.3. Biomass Gasification
10.2.4. Proton Exchange Membrane (PEM) Electrolysis
10.3. Middle East Green Hydrogen Market, by Application, 2016-2028(US$ Bn)
10.3.1. Overview
10.3.2. Medical
10.3.3. Chemical
10.3.4. Petrochemicals
10.3.5. Transport
10.3.6. Others
10.4. Middle East Green Hydrogen Market, by Renewable Resources, 2016-2028(US$ Bn)
10.4.1. Overview
10.4.2. Solar Resources
10.4.3. Water Resources
10.4.4. Wind Resources
10.4.5. Biomass Resources

11. Africa
11.1. Africa Green Hydrogen Market, by Country, 2016-2028(US$ Bn)
11.1.1. South Africa
11.1.2. Egypt
11.1.3. Nigeria
11.1.4. Rest of Africa
11.2. Africa Green Hydrogen Market, by Technology, 2016-2028(US$ Bn)
11.2.1. Overview
11.2.2. Alkaline Electrolysis
11.2.3. Biomass Gasification
11.2.4. Proton Exchange Membrane (PEM) Electrolysis
11.3. Africa Green Hydrogen Market, by Application, 2016-2028(US$ Bn)
11.3.1. Overview
11.3.2. Medical
11.3.3. Chemical
11.3.4. Petrochemicals
11.3.5. Transport
11.3.6. Others
11.4. Africa Green Hydrogen Market, by Renewable Resources, 2016-2028(US$ Bn)
11.4.1. Overview
11.4.2. Solar Resources
11.4.3. Water Resources
11.4.4. Wind Resources
11.4.5. Biomass Resources

12. Global
12.1. Global Green Hydrogen Market, by Technology, 2016-2028(US$ Bn)
12.1.1. Overview
12.1.2. Alkaline Electrolysis
12.1.3. Biomass Gasification
12.1.4. Proton Exchange Membrane (PEM) Electrolysis
12.2. Global Green Hydrogen Market, by Application, 2016-2028(US$ Bn)
12.2.1. Overview
12.2.2. Medical
12.2.3. Chemical
12.2.4. Petrochemicals
12.2.5. Transport
12.2.6. Others
12.3. Global Green Hydrogen Market, by Renewable Resources, 2016-2028(US$ Bn)
12.3.1. Overview
12.3.2. Solar Resources
12.3.3. Water Resources
12.3.4. Wind Resources
12.3.5. Biomass Resources

13. Company Profiles
13.1. AIR LIQUIDE
13.2. Ballard Power Systems
13.3. Cummins Inc.
13.4. Engie
13.5. Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd.
13.6. Linde
13.7. Plug Power Inc.
13.8. Royal Dutch Shell PLC
13.9. SGH2 Energy Global LLC
13.10. Siemens
13.11. Others
List of Figures

FIG. 1 Global Green Hydrogen Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Green Hydrogen Market Segmentation
FIG. 4 Global Green Hydrogen Market, by Technology, 2019 (US$ Bn)
FIG. 5 Global Green Hydrogen Market, by Hardware, 2021 (US$ Bn)
FIG. 6 Global Green Hydrogen Market, by Application, 2021 (US$ Bn)
FIG. 7 Global Green Hydrogen Market, by Renewable Resources, 2021 (US$ Bn)
FIG. 8 Global Green Hydrogen Market, by Geography, 2021 (US$ Bn)
FIG. 9 Attractive Investment Proposition, by Geography, 2021
FIG. 10 Global Market Positioning of Key Green Hydrogen Market Manufacturers, 2019
FIG. 11 Global Green Hydrogen Market Value Contribution, By Technology, 2021 & 2028 (Value %)
FIG. 12 Global Green Hydrogen Market, by Alkaline Electrolysis, Value, 2016-2028 (US$ Bn)
FIG. 13 Global Green Hydrogen Market, by Biomass Gasification, Value, 2016-2028 (US$ Bn)
FIG. 14 Global Green Hydrogen Market, by Proton Exchange Membrane (PEM) Electrolysis, Value, 2016-2028 (US$ Bn)
FIG. 15 Global Green Hydrogen Market Value Contribution, By Application, 2021 & 2028 (Value %)
FIG. 16 Global Green Hydrogen Market, by Medical, Value, 2016-2028 (US$ Bn)
FIG. 17 Global Green Hydrogen Market, by Chemical, Value, 2016-2028 (US$ Bn)
FIG. 18 Global Green Hydrogen Market, by Petrochemicals, Value, 2016-2028 (US$ Bn)
FIG. 19 Global Green Hydrogen Market, by Transport, Value, 2016-2028 (US$ Bn)
FIG. 20 Global Green Hydrogen Market Value Contribution, By Renewable Resources, 2021 & 2028 (Value %)
FIG. 21 Global Green Hydrogen Market, by Solar Resources, Value, 2016-2028 (US$ Bn)
FIG. 22 Global Green Hydrogen Market, by Water Resources, Value, 2016-2028 (US$ Bn)
FIG. 23 Global Green Hydrogen Market, by Wind Resources, Value, 2016-2028 (US$ Bn)
FIG. 24 Global Green Hydrogen Market, by Biomass Resources, Value, 2016-2028 (US$ Bn)
FIG. 25 U.S. Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 26 Rest of North America Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 27 U.K. Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 28 Germany Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 29 France Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 30 Italy Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 31 Spain Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 32 Russia Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 33 BENELUX Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 34 Poland Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 35 Austria Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 36 Rest of Europe Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 37 Japan Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 38 China Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 39 India Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 40 South Korea Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 41 Australia Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 42 Southeast Asia Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 43 Rest of Asia Pacific Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 44 Middle East & Africa Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 45 South Africa Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 46 Nigeria Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 47 Egypt Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 48 GCC Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 49 Israel Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 50 Latin America Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 51 Mechanicalzil Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 52 Argentina Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 53 Colombia Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 54 Peru Green Hydrogen Market, 2016-2028 (US$ Bn)
FIG. 55 Chile Green Hydrogen Market, 2016-2028 (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Beauty Devices (Green Hydrogen) Market
TABLE 2 Global Green Hydrogen Market, by Technology, 2016-2028 (US$ Bn)
TABLE 3 Global Green Hydrogen Market, by Application, 2016-2028 (US$ Bn)
TABLE 4 Global Green Hydrogen Market, by Geography, 2016-2028 (US$ Bn)
TABLE 5 North America Green Hydrogen Market, by Country, 2016-2028 (US$ Bn)
TABLE 6 North America Green Hydrogen Market, by Technology, 2016-2028 (US$ Bn)
TABLE 7 North America Green Hydrogen Market, by Application, 2016-2028 (US$ Bn)
TABLE 8 North America Green Hydrogen Market, by Renewable Resources, 2016-2028 (US$ Bn)
TABLE 9 North America Green Hydrogen Market, by Hardware, 2016-2028 (US$ Bn)
TABLE 10 Europe Green Hydrogen Market, by Country, 2016-2028 (US$ Bn)
TABLE 11 Europe Green Hydrogen Market, by Technology, 2016-2028 (US$ Bn)
TABLE 12 Europe Green Hydrogen Market, by Application, 2016-2028 (US$ Bn)
TABLE 13 Europe Green Hydrogen Market, by Renewable Resources, 2016-2028 (US$ Bn)
TABLE 14 Europe Green Hydrogen Market, by Hardware, 2016-2028 (US$ Bn)
TABLE 15 Asia Pacific Green Hydrogen Market, by Country, 2016-2028 (US$ Bn)
TABLE 16 Asia Pacific Green Hydrogen Market, by Technology, 2016-2028 (US$ Bn)
TABLE 17 Asia Pacific Green Hydrogen Market, by Application, 2016-2028 (US$ Bn)
TABLE 18 Asia Pacific Green Hydrogen Market, by Renewable Resources, 2016-2028 (US$ Bn)
TABLE 19 Asia Pacific Green Hydrogen Market, by Hardware, 2016-2028 (US$ Bn)
TABLE 20 Latin America Green Hydrogen Market, by Country, 2016-2028 (US$ Bn)
TABLE 21 Latin America Green Hydrogen Market, by Technology, 2016-2028 (US$ Bn)
TABLE 22 Latin America Green Hydrogen Market, by Application, 2016-2028 (US$ Bn)
TABLE 23 Latin America Green Hydrogen Market, by Renewable Resources, 2016-2028 (US$ Bn)
TABLE 24 Latin America Green Hydrogen Market, by Hardware, 2016-2028 (US$ Bn)
TABLE 25 Middle East Green Hydrogen Market, by Country, 2016-2028 (US$ Bn)
TABLE 26 Middle East Green Hydrogen Market, by Technology, 2016-2028 (US$ Bn)
TABLE 27 Middle East Green Hydrogen Market, by Application, 2016-2028 (US$ Bn)
TABLE 28 Middle East Green Hydrogen Market, by Renewable Resources, 2016-2028 (US$ Bn)
TABLE 29 Middle East Green Hydrogen Market, by Hardware, 2016-2028 (US$ Bn)
TABLE 30 Africa Green Hydrogen Market, by Country, 2016-2028 (US$ Bn)
TABLE 31 Africa Green Hydrogen Market, by Technology, 2016-2028 (US$ Bn)
TABLE 32 Africa Green Hydrogen Market, by Application, 2016-2028 (US$ Bn)
TABLE 33 Africa Green Hydrogen Market, by Renewable Resources, 2016-2028 (US$ Bn)
TABLE 34 Africa Green Hydrogen Market, by Hardware, 2016-2028 (US$ Bn)

Frequently Asked Questions:

What is the size of Green Hydrogen Market?

The market for Green Hydrogen Market is expected to reach USD 2,846.52 million in 2028.

What is the Green Hydrogen Market CAGR?

The Green Hydrogen Market is expected to see significant CAGR growth over the coming years, at 16.66%.

What is the Forecast period considered for Green Hydrogen Market?

The report is forecasted from 2016-2028.

What is the base year considered for Green Hydrogen Market?

The base year of this report is 2015.

Who are the major players in this market?

Linde, Plug Power Inc., Royal Dutch Shell PLC, SGH2 Energy Global LLC, and Siemens are some of the major players in the global market.

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