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