North America Green Hydrogen Market: Current Analysis and Forecast (2024-2032)

The Green Hydrogen market in North America has been witnessing significant growth in recent years. It is mainly due to the ongoing operational green hydrogen plant that aims to fulfill the demand for green hydrogen, particularly for transportation applications. For instance: In 2024, H2B2 Electrolysis Technologies, an international green hydrogen producer, started operations of SoHyCal, the largest green hydrogen production plant powered entirely by renewable energy in North America. Furthermore, key players in the region are collaborating to support the development of green hydrogen plants. For instance: In 2024, Hy Stor Energy and Schneider Electric collaborated to Advance Integrated, Off-Grid Green Hydrogen Production and Energy Storage at Scale. In this partnership, Schneider Electric and Hy Stor Energy are solving large-scale energy and sustainability challenges that are required to transition to a renewable and fossil-free energy system. Similarly, in 2024, StormFisher Hydrogen and Kiwi AG entered a partnership to advance the development of green H2-related projects in North America and Europe.

Based on the electrolyzer, the green hydrogen market is divided into proton exchange membranes electrolyzer, alkaline electrolyzers, and others. Amongst these, alkaline electrolyzers have the highest market share as it is the most common and mature technology used for green hydrogen production. Additionally, alkaline electrolyzers are cost-effective and have a long operational life.

Based on source, the green hydrogen market is segmented into solar energy, wind energy, and others. Solar energy contributes significantly to the green hydrogen production process, and its production is considered a promising way to use solar energy and combat climate change caused by the burning of fossil fuels.

Based on end-users, the green hydrogen market is categorized into refining, ammonia, and others. The refining segment acquired the largest share as the refinery is the large industrial consumer of hydrogen, most of which is currently supplied by fossil fuels. The rising need to meet the net zero emissions targets has escalated the demand for green hydrogen in industries to reduce carbon emissions. Moreover, the government provides incentives to use green hydrogen in refineries, and exempting electrolyzers from grid fees, taxes, and levies is further accelerating the market share of refineries.

For a better understanding of the market adoption of the green hydrogen industry, the market is analyzed based on its North American presence in countries such as (U.S., Canada, and the Rest of North America). The Green Hydrogen market in the United States has been witnessing significant growth in recent years. The green hydrogen market in the United States is substantial due to significant investments in green hydrogen production facilities and partnerships among private players. For instance, in 2024, ABB collaborated with Green Hydrogen International (GHI) on a project to develop a major green hydrogen facility in South Texas. Envision Energy also announced a strategic collaboration with BASF Process Catalysts to enhance the efficiency of generating e-methanol from green hydrogen and carbon dioxide. This collaboration brings innovative advances to the sustainable energy value chain, creating sustainable energy solutions. Additionally, a US start-up backed by Shell, Amazon, and NASA unveiled an industrial-scale anion-exchange-membrane [AEM] electrolyzer stack for low-cost green hydrogen. The system demonstrated the ability to react quickly to load changes and produce hydrogen more efficiently than any renewable load-following product on the market.

Some of the major players operating in the market include Neom Green Hydrogen Company (NGHC), Air Products, Plug Power Inc., Heliogen, CF Industries, Next Era Energy, Hydrogenics, TES Canada, HY2GEN, and Charbone Hydrogen.