Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Base Year
Historical Year
Forecast Year
The global green hydrogen market size reached a volume of 3.28 million tonnes in 2023. The market is likely to grow further at a CAGR of 65.4% during 2024-2032 to reach a volume of 304.52 million tonnes in 2032.
Global Green Hydrogen Market Report Summary | Description | Value |
Base Year | Million Tons | 2023 |
Historical period | Million Tons | 2018-2023 |
Forecast Period | Million Tons | 2024-2032 |
Market Size 2023 | Million Tons | 3.3 |
Market Size 2032 | Million Tons | 304.5 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 65.4% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 78.5% |
CAGR 2024-2032 - Market by Country | Germany | 83.5% |
CAGR 2024-2032 - Market by Country | India | 83.2% |
CAGR 2024-2032 - Market by Technology/Electrolyser | PEM (Proton Exchange Membrane) | 73.2% |
CAGR 2024-2032 - Market by End User | Transport / Mobility | 73.9% |
Market Share by Country 2023 | USA | XX% |
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
In September 2023, Linde announced the development of a 35-megawatt PEM (Proton Exchange Membrane) electrolyser to produce green hydrogen in Niagara Falls, New York. The company aims to bolster the production capacity of green liquid hydrogen with the new electrolyser and use hydroelectric power in order to meet the demand for green liquid hydrogen.
In June 2023, Reliance Industries Ltd. announced that the company is assessing new technologies for developing electrolysers in order to facilitate the cost-effective production of green hydrogen in India.
Also, the company intends to bid for production-linked incentives offered by the government to promote the green hydrogen technology. The company aims to produce green hydrogen at $1 per kilogram by 2030 and make India a leader in green hydrogen production and exports. Such developments by the key players are expected to drive the green hydrogen market.
In December 2021, Engie and Masdar of Abu Dhabi collaborated on developing a giga-scale green hydrogen hub with an electrolyser capacity of 2 gigawatts in the UAE. The companies aim to accelerate the local supply by bolstering the production capacity, further increasing exports to other markets.
In November 2021, Siemens Energy signed a Memorandum of Understanding with Oman Hydrogen Centre (OHC) to identify the potential applications of green hydrogen in local markets and offer technical expertise to develop green hydrogen solutions. Such collaborations by the leading global market players are likely to accelerate the green hydrogen market expansion.
In January 2021, Engie and Total signed an agreement to develop and operate the Masshylia project in France, a green hydrogen production site. The production site included a 40 MW electrolyser which is likely to produce 5 tonnes of green hydrogen daily. The green hydrogen is to be used to produce biofuel in the Total biorefinery in La Mède to reduce CO2 emissions annually.
Green hydrogen is a result of water electrolysis, in which electricity from renewable sources is used to segregate the hydrogen and oxygen molecules. Green hydrogen is either compressed or liquefied for use as a green energy source, as it lowers carbon emissions and plays a critical role in limiting the impact of climate change.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The market can be divided based on technology/electrolyser into alkaline water electrolysis, PEM (proton exchange membrane), and SOEC (solid oxide fuel cell). On the basis of end user, the market is segmented into transport / mobility, utilities, grid injection, and industrial, among others. Based on source, the market is classified into solar, wind, and geothermal, among others. On the basis of capacity, the market is divided into up to 500 KW, 501-1500 KW, 1501-5000 KW, and above 5000 KW.
CAGR 2024-2032 - Market by | Technology/Electrolyser |
PEM (Proton Exchange Membrane) | 73.2% |
Alkaline Water Electrolysis | XX% |
SOEC (Solid Oxide Fuel Cell) | XX% |
CAGR 2024-2032 - Market by | End User |
Transport / Mobility | 73.9% |
Industrial | 70.0% |
Utilities | XX% |
Grid Injection | XX% |
Others | XX% |
The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The comprehensive EMR report offers an extensive assessment of the green hydrogen market on the basis of Porter's five forces model, along with giving a SWOT analysis.
CAGR 2024-2032 - Market by | Region |
Asia Pacific | 78.5% |
Europe | 75.2% |
North America | XX% |
Latin America | XX% |
Middle East and Africa | XX% |
CAGR 2024-2032 - Market by | Country |
Germany | 83.5% |
India | 83.2% |
China | 82.4% |
UK | 79.0% |
France | 67.7% |
Japan | 66.7% |
Australia | 62.8% |
Italy | 49.2% |
USA | XX% |
Canada | XX% |
Saudi Arabia | XX% |
Brazil | XX% |
Mexico | XX% |
The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
The proton exchange membrane electrolysers provide multiple benefits, like a faster response, high pressure, lower gas permeability, and the ability to perform in high-pressure or low-temperature operations, among others. There is an increasing availability of superior quality PEM electrolysers and the market players are increasing their efforts to deliver proton exchange membrane electrolysers that are fit for on-site storage. The research activities to enhance the operations of the components of PEM electrolysers for cost-efficiency are expected to support the green hydrogen market.
Meanwhile, alkaline water electrolysis is a safe and simple technology but demands more energy. It requires concentrated lye as an electrolyte and a gas-impermeable separator to avoid the mixing of hydrogen and oxygen gases. It is increasingly used in large-scale industrial applications, owing to its ability for mega-watt production, extended lifetime, and lower maintenance costs.
Solid oxide fuel cell offers benefits like increased efficiency and robustness, and requires ceramic for its production and no precious metals. Also, the solid oxide electrolysis cells technology is energy-efficient. It operates at high temperatures and atmospheric pressure.
Market Share by | Country |
USA | XX% |
Canada | XX% |
UK | XX% |
The improved living standards are leading to the rising demand for fuel cell electric vehicles that use green hydrogen as a fuel. The increasing need to reduce carbon emissions in the transportation sector is resulting in the development of eco-friendly vehicles, such as fuel cell electric vehicles powered by hydrogen. Governments worldwide are taking initiatives to introduce the sustainable transportation solutions and encourage the public to use them for a cleaner future.
For instance, in March 2023, the Government of India launched Toyota Mirai, a green hydrogen fuel cell electric vehicle (FCEV) that is suitable for Indian climatic conditions in New Delhi. The government plans to develop a green hydrogen-based ecosystem in the country through the FCEV technology. Such initiatives by the governments are expected to accelerate the green hydrogen market growth globally.
There is an increased injection of green hydrogen into the natural gas grids to decarbonise the residential and industrial heating loads; this is achieved by delivering green hydrogen fuel or mixing it with natural gas to lower the carbon content in the natural gas network. Several pilot projects are underway which include the use of renewable electricity to power electrolysis, splitting water into hydrogen and oxygen, and the grid entry unit which blends this hydrogen with natural gas to proportionally reduce the gas stream’s carbon content.
Besides, green hydrogen is extensively used in various industries for multiple applications. It is used in the chemical industry for manufacturing ammonia and fertilisers and in the petrochemical industry to produce petroleum products. Also, it is utilised in the steel industry owing to its environment-friendly nature.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Air Liquide is a global company that deals with gases for industries and the health sector. The company aims to overcome environmental challenges and contribute to a more sustainable world with the industrial-scale production of green hydrogen.
Linde Plc is a multinational industrial gas company based in the United Kingdom. The company offers industrial gases to various end-use sectors, like chemicals, electronics, healthcare, metals, and others. The company provides state-of-the-art gas processing solution to enhance efficiency, reduce carbon emissions, and meet customer demands.
Engie is a France-based utility company that delivers services in renewable energy and storage. The company intends to accelerate the transition to net zero carbon by promoting low carbon infrastructure and reducing energy consumption.
Other green hydrogen market players include Air Products & Chemicals Inc., Uniper SE, Siemens Energy AG, Reliance Industries Ltd, Madoqua Renewables, and Tecnimont Marie.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Technology/Electrolyser |
|
Breakup by End User |
|
Breakup by Source |
|
Breakup by Capacity |
|
Breakup by Region |
|
Market Dynamics |
|
Price Analysis |
|
Competitive Landscape |
|
Companies Covered |
|
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!
In 2023, the market attained a volume of nearly 3.28 million tonnes.
The major market drivers include the increasing use in transportation sector, availability of different types of electrolysers, and the increasing utilisation across industries.
The key market trends creating growth opportunities include the escalating eco-consciousness, government initiatives, and research activities to develop new methods to produce green hydrogen.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost 304.52 million tonnes by 2032.
The significant technologies/electrolysers in the market are alkaline water electrolysis, PEM (proton exchange membrane), and SOEC (solid oxide fuel cell).
The market is assessed to grow at a CAGR of 65.4% between 2024 and 2032.
The various end users of green hydrogen are transport / mobility, utilities, grid injection, and industrial, among others.
The different sources of green hydrogen are solar, wind, and geothermal, among others.
The various capacities in the market are up to 500 KW, 501-1500 KW, 1501-5000 KW, and above 5000 KW.
The major players in the market are Air Liquide, Linde Plc, Air Products & Chemicals Inc., Engie, Uniper SE, Siemens Energy AG, Reliance Industries Ltd, Madoqua Renewables, and Tecnimont Marie, among others.
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Pricing Plans
Purchase Full Report
Datasheet
Single User License
One User
Five User License
Five Users
Corporate License
Unlimited Users
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-120-433-0800
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124