Green Hydrogen: Global Markets

Report Code: ENV060B

Publish Date: Dec 2024

Publisher: BCC Publishing

Category: Environment

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Report Highlights

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.

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

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 Synopsis

Report Metrics Details
Base year considered 2023
Forecast period considered 2024-2029
Base year market size $4.4 billion
Market size forecast $38.1 billion
Growth rate CAGR of 48.7% for the forecast period of 2024-2029
Units considered $ Millions and Kilotons
Segments covered Technology, Power source, End Use Industry, and Region
Regions covered North America, Europe, Asia-Pacific, and Rest of the World
Countries covered U.S., Canada, Germany, Spain, Denmark, China, Japan, India, and Latin America
Key Market Drivers
  • Unlocking the potential of fuel cells.
  • Natural gas blending with green hydrogen: A synergetic approach.
  • Harnessing offshore renewable energy for green hydrogen.
Companies studied
ACWA POWERAIR LIQUIDE
BLOOM ENERGYBP P.L.C.
CUMMINS INC.ENGIE SA
ITM POWER PLCLINDE PLC
MCPHY ENERGY S.A.NEL ASA
ORSTED A/SPLUG POWER INC.
SIEMENS ENERGYTOSHIBA CORP.
UNIPER SE
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Frequently Asked Questions (FAQs)

The market is projected to grow from $5.2 billion in 2024 to $38.1 billion in 2029 at a compound annual growth rate (CAGR) of 48.7% during the forecast period. By volume, the market is expected to reach 13,500 kilotons by growing at a CAGR of 64.7%.
Increasing demand for low-emission fuels, growing demand from fuel cell applications, and favorable government policies are key factors driving the market.
The segments covered in the market are technology, power source, and end-use industry. The technology segment includes PEM and alkaline electrolysis. The power source segmentation includes solar, wind, and other renewable energy sources. The end-use segment includes mobility, chemicals and petrochemicals, power, and other industries.
The chemicals and petrochemicals segment will dominate the market by the end of 2029.
Europe holds the highest market share, i.e., 57% of the market, followed by APAC. The growth is mainly attributed to the major developments in hydrogen capacity expansion, especially in Germany, Denmark, and Spain. Also, the directives for FCEVs and other hydrogen end-users are accelerating the market’s growth.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

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Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Green Hydrogen: Global Markets177Free
Chapter- 1: Executive Summary4Free
Chapter- 2: Market Overview12Free
Chapter- 3: Market Dynamics8Free
Chapter- 4: Emerging Technologies and Developments4Free
Chapter- 5: Market Segmentation Analysis84Free
Chapter- 6: Competitive Intelligence3Free
Chapter- 7: Appendix62Free
Published - Feb-2023| Analyst - BCC Publishing| Code - ENV060A

Report Highlights

The goal is to provide an up-to-date analysis of the global green hydrogen market and future opportunities in the market. The report provides an overview of the global green hydrogen market and analyzes market trends. It also highlights major trends and challenges that affect the market and the vendor landscape. The scope of the study includes market drivers and restraints, the competitive landscape, and current and emerging technologies. And market forecasts in terms of volume for the period (2022-2027) are made for technology, power source, and geography in the study.

Report Includes

  • A brief general outlook of the global green hydrogen market
  • Analyses of the global market trends, with market revenue data for 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
  • Highlights of key market potential for intraocular lens, technological trends, opportunities, and gaps estimating the current and future demand for green hydrogen market and its subsegments
  • Estimation of the actual market size and revenue forecast for global green hydrogen market in USD million values, and corresponding market share analysis based on technology, end user, and region
  • Coverage of the technological, economic, and business considerations of green hydrogen market, with analyses and growth forecasts through 2027
  • Holistic review of the impact of COVID-19 pandemic and Russia-Ukraine war on the market for green hydrogen technologies
  • Competitive landscape of this market featuring leading energy sector companies, their product portfolios, financial performances, and market share analysis based on recent segmental revenues

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Green Hydrogen: Global Markets
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