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North America Green Hydrogen Market Size, Share, Forecast: By Technology: Alkaline Water Electrolysis, PEM (Proton exchange Membrane), SOEC (Solid Oxide Fuel cell); By Source: Solar, Wind, Geothermal, Others; By Capacity: Up to 500 KW, 501-1500 KW, Others; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
North America Green Hydrogen Market Outlook
The North America green hydrogen market size reached approximately USD 1.28 billion in 2023. The market is estimated to grow at a CAGR of 35.6% in the forecast period of 2024-2032, reaching a value of around USD 20.26 billion by 2032.
Key Trends in the Market
Green hydrogen refers to hydrogen produced by splitting hydrogen and oxygen from water using renewable energy sources such as solar or wind. This production process emits fewer greenhouse gases as compared to the conventional process, making it a sustainable method.
- Rising decarbonisation efforts by the governments of the United States and Canada, surging investments to reduce production costs of green hydrogen, and the expansion of green hydrogen infrastructure are aiding the market.
- Growing deployment of advanced analytics in the green hydrogen production process to maximise the hydrogen yield is one of the crucial North America green hydrogen market trends. Advanced analytics can leverage data from plants, pipes, and tanks, among other components, to prevent failures and optimise hydrogen production.
- The advent of technologies such as the artificial intelligence of things (AIoT), which provides real-time monitoring of production plants and remote control of key assets to enhance their performance, is another prominent trend aiding the market expansion in the region.
- Research and development efforts by several market players to integrate digital twin technology into green hydrogen electrolysis also contribute to the North America green hydrogen market growth. Digital twins can streamline the operation and lower the cost of the hydrogen production process to make the process more efficient.
Market Analysis
Based on technology, the market is divided into alkaline water electrolysis, PEM (proton exchange membrane), and SOEC (solid oxide fuel cell). On the basis of source, the market is classified into solar, wind, and geothermal, among others.
Based on capacity, the market is classified into up to 500 KW, 501-1500 KW, 1501-5000KW, and above 5000 KW. The North America green hydrogen market segmentation, on the basis of end use, includes transport and mobility, utilities, grid injection, and industrial, among others. The major countries of green hydrogen in North America include the United States of America and Canada.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America green hydrogen market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Siemens AG
- Nel ASA
- Air Liquide
- Linde PLC
- Toshiba Energy Systems & Solutions Corporation
- Air Products and Chemicals, Inc.
- Plug Power Inc.
- ENGIE Insight Services Inc.
- Bloom energy Corporation
- Cummins, Inc.
- Others
Market Share by End Use
The transport and mobility sector occupies a significant portion of the North America green hydrogen market share, due to the growing demand for zero-emission green hydrogen fuel cells. Hydrogen-powered vehicles also offer quiet means of transportation and a long driving range, which augments their popularity in the region.
The utility sector is also expected to witness sizeable growth in the forecast period, owing to the surge in the deployment of hydrogen energy-based power plants for electricity generation.
Market Share by Country
As per the North America green hydrogen market analysis, the United States of America accounts for a substantial share of the regional market, owing to the introduction of favourable government policies to promote clean energy sources such as green hydrogen.
In November 2022, the California Air Resources Board (CARB) unveiled a carbon action proposal to achieve net zero carbon emissions by the year 2045, boosting the usage of renewable energy like green hydrogen. Subsequently, Canada is also expected to gain significant growth in the foreseeable future amid growing government attempts to enhance sustainability and advancements in the hydrogen economy.
Competitive Landscape
Siemens AG, incorporated in 1847, is a multinational technology corporation, with its headquarters in Munich, Germany. The corporation offers its products and services to sectors like aerospace, automotive, chemical, and commercial buildings, among others.
Nel ASA is a primary provider of hydrogen solutions, founded in 1927 and based in Oslo, Norway. The company offers hydrogen fuelling stations, hydrogen production plants, and power-to-power solutions, among others.
Air Liquide, established in 1902, is a multinational supplier of industrial gases, headquartered in Paris, France. Some of its leading gas solutions include argon, carbon dioxide, hydrogen, and oxygen, among others.
Other North America green hydrogen market players include Linde PLC, Toshiba Energy Systems & Solutions Corporation, Air Products and Chemicals, Inc., Plug Power Inc., ENGIE Insight Services Inc., Bloom energy Corporation, and Cummins, Inc., among others.
Key Highlights of the Report
| 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:
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| Breakup by Technology |
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| Breakup by Source |
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| Breakup by Capacity |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Green Hydrogen Share in the Net Zero Scenario, 2018-2032
9 North America Green Hydrogen Market Overview
9.1 Key Industry Highlights
9.2 North America Green Hydrogen Historical Market (2018-2023)
9.3 North America Green Hydrogen Market Forecast (2024-2032)
10 North America Green Hydrogen Market by Technology
10.1 Alkaline Water Electrolysis
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 PEM (Proton exchange Membrane)
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 SOEC (Solid Oxide Fuel cell)
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 North America Green Hydrogen Market by Source
11.1 Solar
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Wind
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Geothermal
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 North America Green Hydrogen Market by Capacity
12.1 Up to 500 KW
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 501-1500 KW
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 1501 KW-5000KW
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Above 5000 KW
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
13 North America Green Hydrogen Market by End Use
13.1 Transport and Mobility
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Utilities
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Grid Injection
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Industrial
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 North America Green Hydrogen Market by Country
14.1 United States of America
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Canada
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators of Demand
15.4 Key Indicators of Price
16 Production Cost Analysis
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Siemens AG
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Nel ASA
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Air Liquide
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Linde PLC
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Toshiba Energy Systems & Solutions Corporation
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Air Products and Chemicals, Inc.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Plug Power Inc.
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 ENGIE Insight Services Inc.
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Bloom energy Corporation
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Cummins, Inc.
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Green Hydrogen Market: Key Industry Highlights, 2018 and 2032
2. North America Green Hydrogen Historical Market: Breakup by Technology (USD Billion), 2018-2023
3. North America Green Hydrogen Market Forecast: Breakup by Technology (USD Billion), 2024-2032
4. North America Green Hydrogen Historical Market: Breakup by Source (USD Billion), 2018-2023
5. North America Green Hydrogen Market Forecast: Breakup by Source (USD Billion), 2024-2032
6. North America Green Hydrogen Historical Market: Breakup by Capacity (USD Billion), 2018-2023
7. North America Green Hydrogen Market Forecast: Breakup by Capacity (USD Billion), 2024-2032
8. North America Green Hydrogen Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. North America Green Hydrogen Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. North America Green Hydrogen Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Green Hydrogen Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. North America Green Hydrogen Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 1.28 billion.
The market is projected to grow at a CAGR of 35.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 20.26 billion by 2032.
The major market drivers are a surge in carbon emissions due to the usage of fossil fuels and favourable government policies supporting a green hydrogen economy.
The key trends of the market include the growing deployment of advanced analytics, the advent of technologies such as the artificial intelligence of things (AIoT), and research and developmental efforts by several market players in the region to integrate digital twin technology into green hydrogen electrolysis.
The major countries are the United States of America and Canada.
Various technologies are alkaline water electrolysis, PEM (proton exchange membrane), and SOEC (solid oxide fuel cell).
The key players in the market are Siemens AG, Nel ASA, Air Liquide, Linde PLC, Toshiba Energy Systems & Solutions Corporation, Air Products and Chemicals, Inc., Plug Power Inc., ENGIE Insight Services Inc., Bloom energy Corporation, and Cummins, Inc., among others.
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