Green Hydrogen: Global Markets

Description

List of Tables

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

Product Code: ENV060B

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

Overview

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

Product Code: ENV060B

List of Tables

Summary Table : Global Market for Green Hydrogen, by Region, Through 2029
Table 1 : Global Market for Green Hydrogen, Through 2029
Table 2 : Hydrogen Cost Analysis Based on Raw-Material, 2023
Table 3 : LCOH Calculation with PEM Electrolyzer, 2023
Table 4 : LCOH Calculation with Alkaline Electrolyzer, 2023
Table 5 : Cost Comparison Between FCEV, IC Engine and Hybrid Vehicles
Table 6 : Technical Specifications of Electrolyzer Technologies
Table 7 : Global Market for Green Hydrogen, by Technology, Through 2029
Table 8 : Global Market Volume of Green Hydrogen, by Technology, Through 2029
Table 9 : Global Market for Green Hydrogen for Alkaline Electrolysis, by Region, Through 2029
Table 10 : Global Market Volume of Green Hydrogen for Alkaline Electrolysis, by Region, Through 2029
Table 11 : Global Market for Green Hydrogen for PEM Electrolysis, by Region, Through 2029
Table 12 : Global Market Volume of Green Hydrogen for PEM Electrolysis, by Region, Through 2029
Table 13 : Global Weighted Average LCOE from Newly Commissioned, Utility-scale Renewable Power Technologies, 2023
Table 14 : Global Market for Green Hydrogen, by Power Source, Through 2029
Table 15 : Global Market Volume of Green Hydrogen, by Power Source, Through 2029
Table 16 : Global Market for Green Hydrogen Production from Wind Energy, by Region, Through 2029
Table 17 : Global Market Volume of Green Hydrogen Production from Wind Energy, by Region, Through 2029
Table 18 : Global Market for Green Hydrogen Production from Solar Energy, by Region, Through 2029
Table 19 : Global Market Volume of Green Hydrogen Production from Solar Energy, by Region, Through 2029
Table 20 : Global Market for Green Hydrogen Production from Other Energy Sources, by Region, Through 2029
Table 21 : Global Market Volume of Green Hydrogen Production from Other Energy Sources, by Region, Through 2029
Table 22 : Global Market for Green Hydrogen, by End-Use Industry, Through 2029
Table 23 : Global Market Volume of Green Hydrogen, by End-Use Industry, Through 2029
Table 24 : List of Green Ammonia Projects in Europe
Table 25 : Planned and Completed Trade Pilot Projects for Low-emissions Hydrogen and Hydrogen-based Fuels, 2023-2024
Table 26 : Global Market for Green Hydrogen for Chemicals and Petrochemicals Industries, by Region, Through 2029
Table 27 : Global Market Volume of Green Hydrogen for Chemical and Petrochemical Industries, by Region, Through 2029
Table 28 : Global Market for Green Hydrogen for Mobility/Transportation Industry, by Region, Through 2029
Table 29 : Global Market Volume of Green Hydrogen for Mobility/Transportation Industry, by Region, Through 2029
Table 30 : Global Market for Green Hydrogen for the Power Industry, by Region, Through 2029
Table 31 : Global Market Volume of Green Hydrogen for the Power Industry, by Region, Through 2029
Table 32 : Global Market for Green Hydrogen for Other End-Use Industries, by Region, Through 2029
Table 33 : Global Market Volume of Green Hydrogen for Other End-Use Industries, by Region, Through 2029
Table 34 : Global Market for Green Hydrogen, by Region, Through 2029
Table 35 : Global Market Volume of Green Hydrogen, by Region, Through 2029
Table 36 : Strategic Developments in Europe, by Green Hydrogen Industry Stakeholders, 2023 and 2024
Table 37 : European Market for Green Hydrogen, by Technology, Through 2029
Table 38 : European Market Volume of Green Hydrogen, by Technology, Through 2029
Table 39 : European Market for Green Hydrogen, by Power Source, Through 2029
Table 40 : European Market Volume of Green Hydrogen, by Power Source, Through 2029
Table 41 : European Market for Green Hydrogen, by End-Use Industry, Through 2029
Table 42 : European Market Volume of Green Hydrogen, by End-Use Industry, Through 2029
Table 43 : European Market for Green Hydrogen, by Country, Through 2029
Table 44 : European Market Volume of Green Hydrogen, by Country, Through 2029
Table 45 : List of Key OEMs in the European Region
Table 46 : Japan's Hydrogen Targets, 2023, 2030, 2050
Table 47 : Strategic Developments in APAC, by Green Hydrogen Industry Stakeholders, 2022-2024
Table 48 : APAC Market for Green Hydrogen, by Technology, Through 2029
Table 49 : APAC Market Volume of Green Hydrogen, by Technology, Through 2029
Table 50 : APAC Market for Green Hydrogen, by Power Source, Through 2029
Table 51 : APAC Market Volume of Green Hydrogen, by Power Source, Through 2029
Table 52 : APAC Market for Green Hydrogen, by End-Use Industry, Through 2029
Table 53 : APAC Market Volume of Green Hydrogen, by End-Use Industry, Through 2029
Table 54 : APAC Market for Green Hydrogen, by Country, Through 2029
Table 55 : APAC Market Volume of Green Hydrogen, by Country, Through 2029
Table 56 : List of Key OEMs in the Asia-Pacific Region
Table 57 : Strategic Developments in North America, by Green Hydrogen Industry Stakeholders, 2023 and 2024
Table 58 : North American Market for Green Hydrogen, by Technology, Through 2029
Table 59 : North American Market Volume of Green Hydrogen, by Technology, Through 2029
Table 60 : North American Market for Green Hydrogen, by Power Source, Through 2029
Table 61 : North American Market Volume of Green Hydrogen, by Power Source, Through 2029
Table 62 : North American Market for Green Hydrogen, by End-Use Industry, Through 2029
Table 63 : North American Market Volume of Green Hydrogen, by End-Use Industry, Through 2029
Table 64 : North American Market for Green Hydrogen, by Country, Through 2029
Table 65 : North American Market Volume of Green Hydrogen, by Country, Through 2029
Table 66 : List of Key OEMs in the North American Region
Table 67 : Strategic Developments in Rest of the World, by Green Hydrogen Industry Stakeholders, 2022-2024
Table 68 : RoW Market for Green Hydrogen, by Technology, Through 2029
Table 69 : RoW Market Volume of Green Hydrogen, by Technology, Through 2029
Table 70 : RoW Market for Green Hydrogen, by Power Source, Through 2029
Table 71 : RoW Market Volume of Green Hydrogen, by Power Source, Through 2029
Table 72 : RoW Market for Green Hydrogen, by End-Use Industry, Through 2029
Table 73 : RoW Market Volume of Green Hydrogen, by End-Use Industry, Through 2029
Table 74 : RoW Market for Green Hydrogen, by Country, Through 2029
Table 75 : RoW Market Volume of Green Hydrogen, by Country, Through 2029
Table 76 : List of Key OEMs in the South American Region
Table 77 : List of Large Green Hydrogen Projects, 2023
Table 78 : List of Top OEMs, by Production Capacity, HQ, Technology, 2023
Table 79 : Abbreviations Used in This Report
Table 80 : ACWA Power: Company Snapshot
Table 81 : ACWA Power: Financial Performance, FY 2022 and 2023
Table 82 : ACWA Power: Product Portfolio
Table 83 : ACWA Power: News/Key Developments, 2024
Table 84 : Air Liquide: Company Snapshot
Table 85 : Air Liquide: Financial Performance, FY 2022 and 2023
Table 86 : Air Liquide: Product Portfolio
Table 87 : Air Liquide: News/Key Developments, 2023 and 2024
Table 88 : Bloom Energy: Company Snapshot
Table 89 : Bloom Energy: Financial Performance, FY 2022 and 2023
Table 90 : Bloom Energy: Product Portfolio
Table 91 : Bloom Energy: News/Key Developments, 2023 and 2024
Table 92 : BP p.l.c.: Company Snapshot
Table 93 : BP p.l.c.: Financial Performance, FY 2022 and 2023
Table 94 : BP p.l.c.: Product Portfolio
Table 95 : BP p.l.c.: News/Key Developments, 2023 and 2024
Table 96 : Cummins Inc.: Company Snapshot
Table 97 : Cummins Inc.: Financial Performance, FY 2022 and 2023
Table 98 : Cummins Inc.: Product Portfolio
Table 99 : Cummins Inc.: News/Key Developments, 2023 and 2024
Table 100 : Engie SA: Company Snapshot
Table 101 : Engie SA: Financial Performance, FY 2022 and 2023
Table 102 : Engie SA: Product Portfolio
Table 103 : Engie SA: News/Key Developments, 2021-2024
Table 104 : ITM Power PLC: Company Snapshot
Table 105 : ITM Power PLC: Financial Performance, FY 2022 and 2023
Table 106 : ITM Power PLC: Product Portfolio
Table 107 : ITM Power PLC: News/Key Developments, 2021-2024
Table 108 : Linde PLC: Company Snapshot
Table 109 : Linde PLC: Financial Performance, FY 2022 and 2023
Table 110 : Linde PLC: Product Portfolio
Table 111 : Linde PLC: News/Key Developments, 2021-2024
Table 112 : McPhy Energy S.A.: Company Snapshot
Table 113 : McPhy Energy S.A.: Financial Performance, FY 2022 and 2023
Table 114 : McPhy Energy S.A.: Product Portfolio
Table 115 : McPhy Energy S.A.: News/Key Developments, 2023 and 2024
Table 116 : Nel ASA: Company Snapshot
Table 117 : Nel ASA: Financial Performance, FY 2022 and 2023
Table 118 : Nel ASA: Product Portfolio
Table 119 : Nel ASA: News/Key Developments, 2023 and 2024
Table 120 : Orsted A/S: Company Snapshot
Table 121 : Orsted A/S: Financial Performance, FY 2022 and 2023
Table 122 : Orsted A/S: Product Portfolio
Table 123 : Orsted A/S: News/Key Developments, 2021-2024
Table 124 : Plug Power Inc.: Company Snapshot
Table 125 : Plug Power Inc.: Financial Performance, FY 2022 and 2023
Table 126 : Plug Power Inc.: Product Portfolio
Table 127 : Plug Power Inc.: News/Key Developments, 2021-2024
Table 128 : Siemens Energy: Company Snapshot
Table 129 : Siemens Energy: Financial Performance, FY 2022 and 2023
Table 130 : Siemens Energy: Product Portfolio
Table 131 : Siemens Energy: News/Key Developments, 2021-2024
Table 132 : Toshiba Corp: Company Snapshot
Table 133 : Toshiba Corp: Financial Performance, FY 2021 and 2022
Table 134 : Toshiba Corp: Product Portfolio
Table 135 : Toshiba Corp: News/Key Developments, 2022-2024
Table 136 : Uniper SE: Company Snapshot
Table 137 : Uniper SE: Financial Performance, FY 2022 and 2023
Table 138 : Uniper SE: Product Portfolio
Table 139 : Uniper SE: News/Key Developments, 2024

List of Figures

Summary Figure : Global Market for Green Hydrogen, by Region, 2023-2029
Figure 1 : Global Market Volume Share of Hydrogen Demand, by Country/Region, 2023
Figure 2 : Planned Regional Investments in Hydrogen Economy, by 2023
Figure 3 : Energy-Related CO2 Emissions, 2019-2023
Figure 4 : Annual Average CO2 Emissions Per Capita, by Select Country/Region, 2021-2023
Figure 5 : Porter's Five Forces Analysis of Green Hydrogen Market
Figure 6 : Value Chain Analysis of Green Hydrogen Market
Figure 7 : SWOT Analysis - Green Hydrogen Market
Figure 8 : Green Hydrogen Market Dynamics
Figure 9 : Integration of Offshore Wind Green Hydrogen Production in Europe
Figure 10 : SOEC and SOFC Mechanism - Schematic Representation
Figure 11 : Electricity Required to Generate 1KG of Hydrogen
Figure 12 : Global Electrolyzer Market Volume, by Installed Capacity, 2018-2023
Figure 13 : Announced Electrolyzer Capacity Addition, by Select Country/Region, 2023, 2024 and 2030
Figure 14 : Global Market Share of Green Hydrogen, by Technology, 2023
Figure 15 : Global Market Volume Share of Green Hydrogen, by Technology, 2023
Figure 16 : Alkaline Water Electrolysis Cell - Schematic Representation
Figure 17 : Global Market Share of Green Hydrogen for Alkaline Electrolysis, by Region, 2023
Figure 18 : Global Market Volume Share of Green Hydrogen for Alkaline Electrolysis, by Region, 2023
Figure 19 : PEM Electrolysis Cell - Schematic Representation
Figure 20 : Global Market Share of Green Hydrogen for PEM Electrolysis, by Region, 2023
Figure 21 : Global Market Volume Share of Green Hydrogen for PEM Electrolysis, by Region, 2023
Figure 22 : Renewable Electricity Capacity Additions, by Region/Country,2023
Figure 23 : Global Market Share of Green Hydrogen, by Power Source, 2023
Figure 24 : Global Market Volume Share of Green Hydrogen, by Power Source, 2023
Figure 25 : Global Market Share of Green Hydrogen Production from Wind Energy, by Region, 2023
Figure 26 : Global Market Volume Share of Green Hydrogen Production from Wind Energy, by Region, 2023
Figure 27 : Global Market Share of Green Hydrogen Production from Solar Energy, by Region, 2023
Figure 28 : Global Market Volume Share of Green Hydrogen Production from Solar Energy, by Region, 2023
Figure 29 : Global Market Share of Green Hydrogen Production from Other Energy Sources, by Region, 2023
Figure 30 : Global Market Volume Share of Green Hydrogen Production from Other Energy Sources, by Region, 2023
Figure 31 : Global Market Share of Green Hydrogen, by End-Use Industry, 2023
Figure 32 : Global Market Volume Share of Green Hydrogen, by End-Use Industry, 2023
Figure 33 : Global Market Share of Green Hydrogen for Chemical and Petrochemical Industries, by Region, 2023
Figure 34 : Global Market Volume Share of Green Hydrogen for Chemical and Petrochemical Industries, by Region, 2023
Figure 35 : Global Market Share of Green Hydrogen for Mobility/Transportation Industry, by Region, 2023
Figure 36 : Global Market Volume Share of Green Hydrogen for Mobility/Transportation Industry, by Region, 2023
Figure 37 : Global Market Share of Green Hydrogen for the Power Industry, by Region, 2023
Figure 38 : Global Market Volume Share of Green Hydrogen for the Power Industry, by Region, 2023
Figure 39 : Global Market Share of Green Hydrogen for Other End-Use Industries, by Region, 2023
Figure 40 : Global Market Volume Share of Green Hydrogen for Other End-Use Industries, by Region, 2023
Figure 41 : Global Market Share of Green Hydrogen, by Region, 2023
Figure 42 : Global Market Volume Share of Green Hydrogen, by Region, 2023
Figure 43 : European Market Share for Green Hydrogen, by Technology, 2023
Figure 44 : European Market Volume Share of Green Hydrogen, by Technology, 2023
Figure 45 : European Market Share of Green Hydrogen, by Power Source, 2023
Figure 46 : European Market Volume Share of Green Hydrogen, by Power Source, 2023
Figure 47 : European Market Share of Green Hydrogen, by End-Use Industry, 2023
Figure 48 : European Market Volume Share of Green Hydrogen, by End-Use Industry, 2023
Figure 49 : European Market Share of Green Hydrogen, by Country, 2023
Figure 50 : European Market Volume Share of Green Hydrogen, by Country, 2023
Figure 51 : APAC Market Share for Green Hydrogen, by Technology, 2023
Figure 52 : APAC Market Volume Share of Green Hydrogen, by Technology, 2023
Figure 53 : APAC Market Share of Green Hydrogen, by Power Source, 2023
Figure 54 : APAC Market Volume Share of Green Hydrogen, by Power Source, 2023
Figure 55 : APAC Market Share of Green Hydrogen, by End-Use Industry, 2023
Figure 56 : APAC Market Volume Share of Green Hydrogen, by End-Use Industry, 2023
Figure 57 : APAC Market Share of Green Hydrogen, by Country, 2023
Figure 58 : APAC Market Volume Share of Green Hydrogen, by Country, 2023
Figure 59 : North American Market Share of Green Hydrogen, by Technology, 2023
Figure 60 : North American Market Volume Share of Green Hydrogen, by Technology, 2023
Figure 61 : North American Market Share of Green Hydrogen, by Power Source, 2023
Figure 62 : North American Market Volume Share of Green Hydrogen, by Power Source, 2023
Figure 63 : North American Market Shares of Green Hydrogen, by End-Use Industry, 2023
Figure 64 : North American Market Volume Share of Green Hydrogen, by End-Use Industry, 2023
Figure 65 : North American Market Share of Green Hydrogen, by Country, 2023
Figure 66 : North American Market Volume Share of Green Hydrogen, by Country, 2023
Figure 67 : RoW Market Share of Green Hydrogen, by Technology, 2023
Figure 68 : RoW Market Volume Share of Green Hydrogen, by Technology, 2023
Figure 69 : RoW Market Share of Green Hydrogen, by Power Source, 2023
Figure 70 : RoW Market Volume Share of Green Hydrogen, by Power Source, 2023
Figure 71 : RoW Market Share of Green Hydrogen, by End-Use Industry, 2023
Figure 72 : RoW Market Volume Share of Green Hydrogen, by End-Use Industry, 2023
Figure 73 : RoW Market Share of Green Hydrogen, by Country, 2023
Figure 74 : RoW Market Volume Share of Green Hydrogen, by Country, 2023
Figure 75 : Green Hydrogen: Research Methodology
Figure 76 : ACWA Power: Revenue Share, by Business Unit, FY 2023
Figure 77 : ACWA Power: Revenue Share, by Country/Region, FY 2023
Figure 78 : Air Liquide: Revenue Share, by Business Unit, FY 2023
Figure 79 : Air Liquide: Gas & Service Segment Revenue Share, by Country/Region, FY 2023
Figure 80 : Bloom Energy: Revenue Share, by Business Unit, FY 2023
Figure 81 : BP p.l.c.: Revenue Share, by Business Unit, FY 2023
Figure 82 : BP p.l.c.: Revenue Share, by Country/Region, FY 2023
Figure 83 : Cummins Inc.: Revenue Share, by Business Unit, FY 2023
Figure 84 : Cummins Inc.: Revenue Share, by Country/Region, FY 2023
Figure 85 : Engie SA: Revenue Share, by Business Unit, FY 2023
Figure 86 : Engie SA: Revenue Share, by Country/Region, FY 2023
Figure 87 : ITM Power PLC: Revenue Share, by Product Segment, FY 2023
Figure 88 : ITM Power PLC: Revenue Share, by Country/Region, FY 2023
Figure 89 : Linde PLC: Revenue Share, by Business Unit, FY 2023
Figure 90 : Linde PLC: Revenue Share, by Country/Region, FY 2023
Figure 91 : McPhy Energy S.A.: Revenue Share, by Business Unit, FY 2023
Figure 92 : Nel ASA: Revenue Share, by Business Unit, FY 2023
Figure 93 : Nel ASA: Revenue Share, by Country/Region, FY 2023
Figure 94 : Orsted A/S: Revenue Share, by Business Unit, FY 2023
Figure 95 : Orsted A/S: Revenue Share, by Country/Region, FY 2023
Figure 96 : Plug Power Inc.: Revenue Share, by Product/Service Segment, FY 2023
Figure 97 : Plug Power Inc.: Revenue Share, by Country/Region, FY 2023
Figure 98 : Siemens Energy: Revenue Share, by Business Unit, FY 2023
Figure 99 : Siemens Energy: Revenue Share, by Country/Region, FY 2023
Figure 100 : Toshiba Corp: Revenue Share, by Business Unit, FY 2022
Figure 101 : Toshiba Corp: Revenue Share, by Country/Region, FY 2022
Figure 102 : Uniper SE: Revenue Share, by Business Unit, FY 2023
Figure 103 : Uniper SE: Revenue Share, by Country/Region, FY 2023

Green Hydrogen: Global Markets

Description

Table of Contents

List of Tables

Report Scope

Report Includes

Table of Contents

Chapter 1 Executive Summary

Chapter 2 Market Overview

Chapter 3 Market Dynamics

Chapter 4 Emerging Technologies and Developments

Chapter 5 Market Segmentation Analysis

Chapter 6 Competitive Intelligence

Chapter 7 Appendix

List of Tables

List of Figures