Product Code: ANV757
REPORT HIGHLIGHT
The global Green Hydrogen market was valued at USD 380.4 million in 2020, growing with 47.1% CAGR during the forecast period, 2021-2027. Green hydrogen is defined as hydrogen produced by splitting water into hydrogen and oxygen using renewable electricity.
Market Dynamics
Green hydrogen has been in excessive demand in current years, attributable to its ability to lower carbon emissions. It additionally contributes to the direction of meeting the growing demand for energy throughout the globe. For instance, as per International Energy Agency, 2019, it is estimated that global energy demand will increase by between 25 % and 30 % by 2040, which is an economy dependent on coal and oil would mean more CO2, exacerbating climate change. However, decarbonizing the planet suggests a different world in 2050, one that is more accessible, efficient and sustainable, and driven by clean energies such as green hydrogen. Thus, it is a sustainable energy source, therefore its use is predicted to grow in the future. In addition, an increase in awareness regarding the usage of hydrogen as an energy carrier is predicted to propel the growth of the global market.
The favorable government initiatives across the globe to reduce carbon emission is one of the major factors that accelerate the growth of the green hydrogen market during the forecast period. For instance, The Green Hydrogen Catapult, a United Nations initiative to bring down the cost of green hydrogen introduced that it is nearly doubling its goal for green electrolyzes from 25 gigawatts set last year, to 45 gigawatts by 2027. The European Commission has followed a set of legislative proposals to decarbonize the EU gas market through facilitating the uptake of renewable and low carbon gases, which includes hydrogen, and to ensure energy security for all citizens in Europe.
Regional Analysis
Based on region, the global Green Hydrogen market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe is expected to dominate the green hydrogen market during the forecast period. The growth in the region is attributed to favorable government initiatives. For instance, in August 2019, the U.K. government announced a USD 14.8 billion investment plan for a project that is expected to use 4 GW of offshore wind for green hydrogen production by 2030. Besides, the Asia Pacific region is expected to grow at the highest CAGR during the forecast period owing to the large revenue contribution from Australia and Japan. For instance, Toshiba Corporation is actively investing to develop a green hydrogen plant with a 10 MW electrolyzer capacity, which would be utilized to provide hydrogen for transportation applications.
COVID-19 Analysis
The green hydrogen market became unaffected through the COVID-19 pandemic. However, COVID-19 associated lockdowns posed some problems for industry players, inclusive of disruption in supply chains, logistical problems in shipping end goods, and recruiting staff from quarantines. Moreover, the COVID-19 pandemic ensured a robust increase in the renewable energy market, ensuing in a steady increase in energy demand. The renewable energy market grew progressively during 2020, attributable to an increase in energy demand from industrial sectors. Following the relaxation of lockdown mandates in many countries, the green hydrogen market is quickly returning to normal and is predicted to pick up even further.
Competitive Landscape
The key companies are adopting various strategies such as consolidation, investment, merger & acquisition, partnership, product launch, and divestment. Recently, in July 2021, PowerTap Hydrogen Capital Corp., Canada-based hydrogen production and dispensing fueling company acquired AES-100 Inc., AES-100 Inc. is a Canada-based green hydrogen technology company that is focused on fuel cells for the transportation Industry. The acquisition is predicted to guarantee the rapid global deployment of PowerTap's hydrogen refueling stations. Moreover, in November 2021, Plug Power Inc., a leading provider of turnkey hydrogen solutions for the global green hydrogen economy acquired Frames Group, a leader in turnkey systems integration for the energy sector. This acquisition support Plug Power Inc.'s goal to reach an installed electrolyzer capacity of 3 Gigawatts (GW) by 2025 and it also enables to scale delivery of electrolyzer solutions and deepen its presence in Europe.
Key features of the study:
- This proposed research study on the Green Hydrogen market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2021-2027), considering 2020 as the base year
- The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Green Hydrogen market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Green Hydrogen market
- The impact of COVID-19 on Green Hydrogen market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on the Green Hydrogen market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view of the Green Hydrogen market, we have also included a competitive landscape and key innovator analysis for the Green Hydrogen market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Green Hydrogen market.
- In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, regional expansion of major participants involved in the market on a global as well as regional level.
- The global Green Hydrogen market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL GREEN HYDROGEN MARKET KEY PLAYERS
- Air Liquide
- Ballard Power Systems
- Enapter
- Engie
- Green Hydrogen
- Next Hydrogen
- PLUG POWER INC.
- ROYAL DUTCH SHELL PLC.
- SGH2 Energy Global, LLC
- Siemens Energy
- Linde plc
- Air Products Inc.
- Uniper SE
- Cummins Inc.
- Nel ASA
GLOBAL GREEN HYDROGEN MARKET, BY TECHNOLOGY
- Proton Exchange Membrane Electrolyzer
- Alkaline Electrolyzer
- Solid exide electrolyzer
GLOBAL GREEN HYDROGEN MARKET, BY APPLICATION INDUSTRY
- Mobility
- Power
- Chemical
- Others
GLOBAL GREEN HYDROGEN MARKET, BY END-USE INDUSTRY
- Food and Beverages
- Medical
- Glass
- Petrochemical
- Chemical
- Others
GLOBAL GREEN HYDROGEN MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Singapore
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. Green Hydrogen Market Overview
2. Executive Summary
- 2.1. Market Snippet
- 2.1.1. Market Snippet by Technology
- 2.1.2. Market Snippet by Application
- 2.1.3. Market Snippet by End Use Industry
- 2.2. Competitive Insights
3. Green Hydrogen Key Market Trends
- 3.1. Market Drivers
- 3.1.1. Impact Analysis of Market Drivers
- 3.2. Market Restraints
- 3.2.1. Impact Analysis of Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Future Trends
4. Green Hydrogen Industry Study
- 4.1. Porter's Five Forces Analysis
- 4.2. Marketing Strategy Analysis
- 4.3. Growth Prospect Mapping
- 4.4. Regulatory Framework Analysis
5. Green Hydrogen Market: COVID-19 Impact Analysis
- 5.1. Pre-COVID-19 Impact Analysis
- 5.2. Post-COVID-19 Impact Analysis
- 5.2.1. Top Performing Segments
- 5.2.2. Marginal Growth Segments
- 5.2.3. Top Looser Segments
- 5.2.4. Marginal Loss Segments
6. Green Hydrogen Market Landscape
- 6.1. Market Share Analysis, 2020
- 6.2. Key Innovators Analysis
- 6.3. Breakdown Data, by Key Manufacturer
- 6.3.1. Established Players' Analysis
- 6.3.2. Emerging Players' Analysis
7. Green Hydrogen Market - By Technology
- 7.1. Overview
- 7.1.1. Segment Share Analysis, Technology, 2020 & 2027 (%)
- 7.2. Proton Exchange Membrane Electrolyzer
- 7.3. Alkaline Electrolyzer
- 7.4. Solid exide electrolyzer
8. Green Hydrogen Market - By End Use
- 8.1. Overview
- 8.1.1. Segment Share Analysis, End Use, 2020 & 2027 (%)
- 8.2. Mobility
- 8.3. Power
- 8.4. Others
9. Green Hydrogen Market - By End Use Industry
- 9.1. Overview
- 9.1.1. Segment Share Analysis, End Use Industry, 2020 & 2027 (%)
- 9.2. Food and Beverages
- 9.3. Medical
- 9.4. Glass
- 9.5. Petrochemical
- 9.6. Chemical
- 9.7. Others
10. Green Hydrogen Market- By Geography
- 10.1. Introduction
- 10.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
- 10.2. North America
- 10.2.1. Overview
- 10.2.2. Key Manufacturers in North America
- 10.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
- 10.2.4. North America Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.2.5. North America Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.2.6. U.S.
- 10.2.6.1. Overview
- 10.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.2.6.3. U.S. Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.2.6.4. U.S. Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.2.7. Canada
- 10.2.7.1. Overview
- 10.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 1.1.1.1. Canada Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 1.1.1.2. Canada Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.3. Europe
- 10.3.1. Overview
- 10.3.2. Key Manufacturers in Europe
- 10.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
- 10.3.4. Europe Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.3.5. Europe Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.3.6. Germany
- 10.3.6.1. Overview
- 10.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.3.6.3. Germany Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.3.6.4. Germany Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.3.7. Italy
- 10.3.7.1. Overview
- 10.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.3.7.3. Italy Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.3.7.4. Italy Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.3.8. United Kingdom
- 10.3.8.1. Overview
- 10.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.3.8.3. United Kingdom Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.3.8.4. United Kingdom Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.3.9. France
- 10.3.9.1. Overview
- 10.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.3.9.3. France Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.3.9.4. France Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.3.10. Rest of Europe
- 10.3.10.1. Overview
- 10.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.3.10.3. Rest of the Europe Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.3.10.4. Rest of the Europe Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.4. Asia Pacific (APAC)
- 10.4.1. Overview
- 10.4.2. Key Manufacturers in Asia Pacific
- 10.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
- 10.4.4. Asia Pacific Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.4.5. Asia Pacific Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.4.6. India
- 10.4.6.1. Overview
- 10.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.4.6.3. India Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.4.6.4. India Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.4.7. China
- 10.4.7.1. Overview
- 10.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.4.7.3. China Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.4.7.4. China Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.4.8. Japan
- 10.4.8.1. Overview
- 10.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.4.8.3. Japan Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.4.8.4. Japan Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.4.9. South Korea
- 10.4.9.1. Overview
- 10.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.4.9.3. South Korea Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.4.9.4. South Korea Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.4.10. Rest of APAC
- 10.4.10.1. Overview
- 10.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.4.10.3. Rest of APAC Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.4.10.4. Rest of APAC Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.5. Latin America
- 10.5.1. Overview
- 10.5.2. Key Manufacturers in Latin America
- 10.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
- 10.5.4. Latin America Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.5.5. Latin America Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.5.6. Brazil
- 10.5.6.1. Overview
- 10.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.5.6.3. Brazil Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.5.6.4. Brazil Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.5.7. Mexico
- 10.5.7.1. Overview
- 10.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.5.7.3. Mexico Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.5.7.4. Mexico Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.5.8. Argentina
- 10.5.8.1. Overview
- 10.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.5.8.3. Argentina Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.5.8.4. Argentina Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.5.9. Rest of LATAM
- 10.5.9.1. Overview
- 10.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.5.9.3. Rest of LATAM Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.5.9.4. Rest of LATAM Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.6. Middle East and Africa
- 10.6.1. Overview
- 10.6.2. Key Manufacturers in Middle East and Africa
- 10.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
- 10.6.4. Middle East and Africa Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.6.5. Middle East and Africa Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.6.6. Saudi Arabia
- 10.6.6.1. Overview
- 10.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.6.6.3. Saudi Arabia Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.6.6.4. Saudi Arabia Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
- 10.6.7. United Arab Emirates
- 10.6.7.1. Overview
- 10.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
- 10.6.7.3. United Arab Emirates Market Size and Forecast, By Technology, 2016 - 2027 (US$ Million)
- 10.6.7.4. United Arab Emirates Market Size and Forecast, By End Use, 2016 - 2027 (US$ Million)
11. Key Vendor Analysis
- 11.1. Competitive Dashboard
- 11.2. Company Profiles
- 11.2.1. Air Liquide
- 11.2.2. Ballard Power Systems
- 11.2.3. Enapter
- 11.2.4. Engie
- 11.2.5. Green Hydrogen
- 11.2.6. Next Hydrogen
- 11.2.7. PLUG POWER INC.
- 11.2.8. ROYAL DUTCH SHELL PLC.
- 11.2.9. SGH2 Energy Global, LLC
- 11.2.10. Siemens Energy
- 11.2.11. Linde plc
- 11.2.12. Air Products Inc.
- 11.2.13. Uniper SE
- 11.2.14. Cummins Inc.
- 11.2.15. Nel ASA
12. 360 Degree AnalystView
13. Appendix
- 13.1. Research Methodology
- 13.2. References
- 13.3. Abbreviations
- 13.4. Disclaimer
- 13.5. Contact Us