Green Hydrogen Market: Development, Current Analysis & Forecast to 2027

[Mayur Yewale]

Key Players

The key players operating in the global green hydrogen market are Green Hydrogen Systems (Denmark), Solena Group (US), Siemens Gas and Power GmbH & Co. KG (Germany), Engie (France), FuelcellWorks (US), Nikola Motors (US), Plug Power (US), H2X (Australia), Fuelcell Energy (US), Hydrogenics (Canada), Ballard Power Systems (Canada), Ergosup (France), Loop Energy (Canada), and Syzygy Plasmonics (US).

Market Highlights

Global Green Hydrogen Market size is projected to be valued at USD XX by 2026, at a XX% CAGR during the review period, 2020–2026. Green hydrogen is made using a large amount of water, a big electrolyzer and significant supplies of electricity. Moreover, this electricity supply generally comes only from renewable energy resources.

The global green hydrogen market trends has been segmented into five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. Europe is expected to hold the largest share of the market during the forecast period. The growth of the green hydrogen market in the region is supported by a large number of projects in the region. Moreover, European countries have abundant renewable energy sources, which they can re-use through interconnections to North Africa and other regions to transport and store hydrogen. Additionally, Europe has a globally leading industry for clean hydrogen production, especially for manufacturing electrolyzers. North America is expected to be the second-largest market for green hydrogen owing to the increasing deployment of renewable energy resources in residential and commercial areas. In Asia-Pacific, countries such as China and India are increasingly focusing on making policies and large-scale green hydrogen projects in countries such as Australia and Japan. In the Middle East & Africa and South America, the industrial and commercial sectors are projected to invest in solar and wind projects, which would positively impact their overall cost.

The global green hydrogen market has been segmented based on technology, application, and end-use industry. Based on the technology, the global market is divided into alkaline electrolyzer, proton exchange membrane electrolyzer, and solid oxide electrolyzer. The alkaline electrolyzer segment is projected to hold the largest global green hydrogen market share, while the proton exchange membrane electrolyzer technology is expected to be the fastest-growing in the forecast period owing to its high proton conductivity, lower membrane thickness, and lower gas permeability.

Scope of the Report

This report presents an in-depth analysis of the global green hydrogen market growth, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study provides the segmentation of the global green hydrogen market by technology, application, end-use industry, and region.

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