Product Code: ENV060B
The global market for green hydrogen is expected to grow from $5.2 billion in 2024 and is projected to reach $38.1 billion by the end of 2029, at a compound annual growth rate (CAGR) of 48.7% during the forecast period of 2024 to 2029.
The European green hydrogen market is expected to grow from $2.9 billion in 2024 and is projected to reach $16.8 billion by the end of 2029, at a CAGR of 42.3% during the forecast period of 2024 to 2029.
The APAC green hydrogen market is expected to grow from $1.5 billion in 2024 and is projected to reach $12.0 billion by the end of 2029, at a CAGR of 50.9% during the forecast period of 2024 to 2029.
Report Scope
In this report, the global market for green hydrogen is segmented by technology, power source, end-use industry and regional market analysis. The market size has been provided in value ($ Millions) and volume (kilotons). The report also analyzes competitive intelligence, which covers the market share of prominent companies based on their product offerings and revenues generated from the green hydrogen industry. It also provides details of market dynamics, emerging technologies and global developments in the industry.
The report covers hydrogen production from water electrolysis using renewable energy sources such as wind and solar. The report also covers the two prominent electrolyzer technologies: alkaline and PEM electrolysis. Hydrogen from water electrolysis using other energy sources, such as natural gas, is not part of the report's scope.
Report Includes
- 77 data tables and 63 additional tables
- An up-to-date overview of the global markets for green hydrogen
- Analysis of the global market trends, with data from 2023, estimates for 2024, forecasts for 2025, 2027, and projections of compound annual growth rates (CAGRs) through 2029
- Evaluation of the current market size and revenue growth prospects, accompanied by a market share analysis by technology, power source, end user, and geographic region
- A look at the key market drivers and restraints that will shape the market for green hydrogen over the next five years (2024-2029)
- A discussion on ESG challenges and practices of the industry
- Assessment of the vendor landscape, including the market shares of leading companies, their product portfolios and financial overviews
- Information on recent mergers, acquisitions, expansions, collaborations, investments, divestments, product launches, and other strategic developments
- Profiles of the leading market vendors, including ACWA Power, BP Plc, ITM Power Plc, Air Liquide, and Bloom Energy
Table of Contents
Chapter 1 Executive Summary
- Market Outlook
- Scope of Report
- Market Summary
Chapter 2 Market Overview
- Overview
- Porter's Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Potential of New Entrants
- Threat of Substitutes
- Competition in the Industry
- Value Chain Analysis: Green Hydrogen
- Overview
- Production
- Storage
- Transportation
- Cost Analysis
- SWOT Analysis
Chapter 3 Market Dynamics
- Market Dynamics Snapshot
- Market Drivers
- Unlocking the Potential of Fuel Cells
- Natural Gas Blending with Green Hydrogen: A Synergetic Approach
- Renewable Energy's Race to Cost Reduction
- Market Challenges
- Hydrogen Refueling Stations Face Headwinds
- High Investment Costs in Hydrogen Infrastructure Development
- Market Opportunities
- Harnessing Offshore Renewable Energy for Green Hydrogen
- Industry Shifts to Cleaner Fuels
- Maritime Industry's Path Towards Decarbonization
- Market Restraints
- Soaring Cost of Production and Maintenance
- Slow Acceptance of Hydrogen as a Transportation Fuel
Chapter 4 Emerging Technologies and Developments
- Overview
- Increasing Number of Start-ups in Green Hydrogen Industry
- Use of Molecular Catalysts in Electrolyzers
- Polarization Curves
- High-Temperature Electrolyzers (HTEs)
- Hybrid Water Electrolyzers (HWE)
- CPV Solar Concentrator Technology with Electrolyzer
Chapter 5 Market Segmentation Analysis
- Segmentation Breakdown
- Market Analysis by Technology
- Alkaline Electrolysis
- PEM Electrolysis
- Market Analysis by Power Source
- Wind Energy
- Solar Energy
- Other Energy Sources
- Market Analysis by End-Use Industry
- Chemicals and Petrochemicals
- Mobility
- Power
- Other Industries
- Geographic Breakdown
- Market Analysis by Region
- Europe
- Asia-Pacific (APAC)
- North America
- Rest of the World (RoW)
Chapter 6 Competitive Intelligence
Chapter 7 Appendix
- Methodology
- Information Sources
- References
- Abbreviations Used in the Report
- Company Profiles
- ACWA POWER
- AIR LIQUIDE
- BLOOM ENERGY
- BP P.L.C.
- CUMMINS INC.
- ENGIE SA
- ITM POWER PLC
- LINDE PLC
- MCPHY ENERGY S.A.
- NEL ASA
- ORSTED A/S
- PLUG POWER INC.
- SIEMENS ENERGY
- TOSHIBA CORP.
- UNIPER SE