Green Hydrogen Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Technology (Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer), By Renewable Source (Wind, Solar PV, Others), By End Use Industry (Power Generation, Automotive, Chemicals & Petrochemicals, Others), By Region

  • Industry : Chemicals
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Summary

Report Description

Global Green Hydrogen Market is expected to grow at CAGR of over 20%, owing to a rapidly increasing demand from fuel cell electric vehicle globally. Green hydrogen is hydrogen that is generated entirely by renewable energy. It has significantly lower carbon emissions than grey hydrogen, which is produced by steam reforming of natural gas. Green hydrogen does not emit greenhouse gases such as carbon dioxide or methane.

Development of Alkaline Electrolysis Process Driving Market Growth

The development of the Alkaline Electrolysis Process for the generation of green hydrogen is anticipated to push the adoption of green hydrogen in different sectors. In Alkaline Electrolysis Process, a liquid electrolyte solution, such as potassium hydroxide or sodium hydroxide, and water is used. Hydroxide ions flow over the electrolyte from the cathode to the anode of every cell when electric current is provided to the electrolysis cell stack, producing hydrogen and oxygen gas bubbles on the cathode and anode sides of the electrolyzer, respectively. The green hydrogen produced has high purity, and the vast & cheap availability of electrolyte solutions makes it a suitable method of green hydrogen generation. Many companies are investing in the generation of green hydrogen through the Alkaline Electrolysis Process. For instance, in July 2021, Hyundai Motor Company and Kia Corporation have signed a memorandum of understanding with Next Hydrogen Corporation, a Canadian company specializing in water electrolysis technology to develop an advanced alkaline water electrolysis system to produce green hydrogen economically and explore new business opportunities.

Usage of Green Hydrogen in Power Systems is Helping in Driving Global Green Hydrogen Market

Power systems need more flexibility as Variable Renewable Energy (VRE) share is growing rapidly in different markets around the world. The electrolytic cells used to produce green hydrogen can be designed as a flexible resource that can be rapidly increased or decreased to compensate for fluctuations in VRE production by adapting to electricity prices. Green hydrogen can be stored for long periods and can be used when VRE is unavailable for power generation in stationary fuel cells or hydrogen-enabled gas turbines. Therefore, green hydrogen supports network integration with higher VRE shares, improving system efficiency and profitability, which has increased usage of green hydrogen in power systems

Adoption of Proton Exchange Membrane (PEM) Electrolyzer

The proton Exchange Membrane (PEM) Electrolysis Process is another technology gaining popularity in the Global Green Hydrogen Market. A proton exchange membrane and a solid polymer electrolyte are used in PEM electrolyzers. Water splits into hydrogen and oxygen when current is added to the battery, and the hydrogen protons flow through the membrane to generate hydrogen gas on the cathode side. The green hydrogen produced by PEM electrolysis is of high quality and the fast response time makes it ideal for providing grid balancing services. Consequently, many industrial gas companies are going into green hydrogen production. For example, in January 2021, Linde plc announced it will build own, and operate the world's largest PEM electrolyzer plant at the Leuna Chemical Complex in Germany. Additionally, in July 2021, Shell started up operations at allegedly Europe’s largest PEM green hydrogen electrolyzer at Shell’s Energy and Chemicals Park in Rhineland, Germany.

Growing Demand from Fuel Cell Electric Vehicles

One of the primary developments in the twenty-first century is the electrification of transportation. Electrification of road transport has increased worldwide due to the green government policies in various countries. According to a recent report, global sales of electric cars increased by 41% to about 3 million electric cars, increasing the demand for green hydrogen as fuel. Hydrogen is utilized to power fuel cell electric vehicles (FCEVs). They are extra fuel efficient than conventional internal combustion engines and generate no exhaust emissions. FCEVs only generate water vapor and warm air as by-products.


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Market Segmentation

The Global Green Hydrogen market is segmented based on Technology, Renewable Source, End Use Industry, Region, and company. Based on Technology, the market is further fragmented into alkaline electrolyzer, proton exchange membrane electrolyzer and solid oxide electrolyzer. Also, segmentation of the market on grounds of the Renewable Source is done into wind, solar PV, and others. Based on End Use Industry the market is fragmented into power generation, automotive, chemical & petrochemicals and others.

Company Profiles

Ballard Power Systems Inc., ENAPTER s.r.l., Engie SA Green Hydrogen Systems, Plug Power Inc, SGH2 Energy Global LLC, Siemens Energy AG, Toshiba Energy Systems and Solutions Corp, Linde Plc, Air Liquide, Cummins Inc., Royal Dutch Shell Plc, NEL ASA

Attribute

Details

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Technology

·         Renewable Source

·         End Use Industry

·         Region

Regional Scope

Europe , North America , Asia Pacific , South America, Middle East & Africa

Key Companies Profiled

Ballard Power Systems Inc., ENAPTER s.r.l., Engie SA Green Hydrogen Systems, Plug Power Inc, SGH2 Energy Global LLC, Siemens Energy AG, Toshiba Energy Systems and Solutions Corp, Linde Plc, Air Liquide, Cummins Inc., Royal Dutch Shell Plc, NEL ASA

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Global Green Hydrogen market has been segmented into following categories, in addition to the industry trends which have also been detailed below:


Green Hydrogen Market, By Technology:

o   Alkaline Electrolyzer

o   Proton Exchange Membrane Electrolyzer

o   Solid Oxide Electrolyzer 

·         Green Hydrogen Market, By Renewable Source:

o   Wind

o   Solar PV

o   Others

·         Green Hydrogen Market, By End Use Industry:

o   Power Generation

o   Automotive

o   Chemicals & Petrochemicals

o   Others

·         Green Hydrogen Market, By Region:

o   Europe

o   Germany

o   France

o   Italy

o   Spain

o   United Kingdom

o   Denmark

o   Rest of Europe

o   North America

o   United States

o   Canada

o   Mexico

o   Asia-Pacific

o   China

o   Japan

o   India

o   South Korea

o   Australia

o   Singapore

o   Indonesia

o   Malaysia

o   Rest of Asia-Pacific

o   South America

o   Brazil

o   Argentina

o   Colombia

o   Chile

o   Rest of South America

o   Middle East & Africa

o   Saudi Arabia

o   UAE

o   South Africa

o   Turkey

o   Rest of Middle East & Africa 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Green Hydrogen market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global green hydrogen market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Global Green Hydrogen Market Outlook

4.1.  Market Size & Forecast

4.1.1.     By Value & Volume

4.2.  Market Share & Forecast

4.2.1.     By Technology (Polymer Electrolyte Membrane Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer)

4.2.2.     By Application (Power Generation, Transportation, Others)

4.2.3.     By Region (North America, Europe, Asia Pacific, South America, Middle East &            Africa)

4.2.4.     By Company (2022)

4.3.  Market Map

4.3.1.     By Technology

4.3.2.     By Application

4.3.3.     By Region

5.    North America Green Hydrogen Market Outlook

5.1.  Market Size & Forecast          

5.1.1.     By Value & Volume

5.2.  Market Share & Forecast

5.2.1.     By Technology

5.2.2.     By Application

5.2.3.     By Country

5.3.  North America: Country Analysis

5.3.1.     United States Green Hydrogen Market Outlook

5.3.1.1.         Market Size & Forecast

5.3.1.1.1.             By Value & Volume

5.3.1.2.         Market Share & Forecast

5.3.1.2.1.             By Technology

5.3.1.2.2.             By Application

5.3.2.     Mexico Green Hydrogen Market Outlook

5.3.2.1.         Market Size & Forecast

5.3.2.1.1.             By Value & Volume

5.3.2.2.         Market Share & Forecast

5.3.2.2.1.             By Technology

5.3.2.2.2.             By Application

5.3.3.     Canada Green Hydrogen Market Outlook

5.3.3.1.         Market Size & Forecast

5.3.3.1.1.             By Value & Volume

5.3.3.2.         Market Share & Forecast

5.3.3.2.1.             By Technology

5.3.3.2.2.             By Application

6.    Europe Green Hydrogen Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Technology

6.2.2.     By Application

6.2.3.     By Country

6.3.  Europe: Country Analysis

6.3.1.     France Green Hydrogen Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value & Volume

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Technology

6.3.1.2.2.             By Application

6.3.2.     Germany Green Hydrogen Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value & Volume

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Technology

6.3.2.2.2.             By Application

6.3.3.     United Kingdom Green Hydrogen Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value & Volume

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Technology

6.3.3.2.2.             By Application

6.3.4.     Spain Green Hydrogen Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value & Volume

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Technology

6.3.4.2.2.             By Application

6.3.5.     Italy Green Hydrogen Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value & Volume

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Technology

6.3.5.2.2.             By Application

7.    Asia-Pacific Green Hydrogen Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Technology

7.2.2.     By Application

7.2.3.     By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.     China Green Hydrogen Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value & Volume

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Technology

7.3.1.2.2.             By Application

7.3.2.     India Green Hydrogen Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value & Volume

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Technology

7.3.2.2.2.             By Application

7.3.3.     South Korea Green Hydrogen Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value & Volume

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Technology

7.3.3.2.2.             By Application

7.3.4.     Japan Green Hydrogen Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value & Volume

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Technology

7.3.4.2.2.             By Application

7.3.5.     Australia Green Hydrogen Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value & Volume

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Technology

7.3.5.2.2.             By Application

8.    South America Green Hydrogen Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Technology

8.2.2.     By Application

8.2.3.     By Country

8.3.  South America: Country Analysis

8.3.1.     Brazil Green Hydrogen Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value & Volume

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Technology

8.3.1.2.2.             By Application

8.3.2.     Colombia Green Hydrogen Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value & Volume

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Technology

8.3.2.2.2.             By Application

9.    Middle East and Africa Green Hydrogen Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Technology

9.2.2.     By Application

9.2.3.     By Country

9.3.  MEA: Country Analysis

9.3.1.     South Africa Green Hydrogen Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value & Volume

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Technology

9.3.1.2.2.             By Application

9.3.2.     Saudi Arabia Green Hydrogen Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value & Volume

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Technology

9.3.2.2.2.             By Application

9.3.3.     Oman Green Hydrogen Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value & Volume

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Technology

9.3.3.2.2.             By Application

9.3.4.     UAE Green Hydrogen Market Outlook

9.3.4.1.         Market Size & Forecast

9.3.4.1.1.             By Value & Volume

9.3.4.2.         Market Share & Forecast

9.3.4.2.1.             By Technology

9.3.4.2.2.             By Application

10.  Market Dynamics

10.1.              Drivers

10.2.              Challenges

11.  Market Trends & Developments

11.1.              Research & Development

11.2.              Product launch

11.3.              Merger & Acquisition

12.  Global Green Hydrogen Market: SWOT Analysis

13.  Porter’s Five Forces Analysis

13.1.              Competition in the Industry

13.2.              Potential of New Entrants

13.3.              Power of Suppliers

13.4.              Power of Customers

13.5.              Threat of Substitute Products

14.  Competitive Landscape

14.1.              Business Overview

14.2.              Product Offerings

14.3.              Recent Developments

14.4.              Financials (In Case of Listed Companies)

14.5.              Key Personnel

14.5.1.  FuelCell Energy, Inc.

14.5.2.  Bloom Energy Corporation

14.5.3.  Air Liquide S.A.

14.5.4.  Linde plc

14.5.5.  thyssenkrupp AG

14.5.6.  Siemens Energy AG

14.5.7.  Toshiba Energy Systems & Solutions Corporation

14.5.8.  Engie SA

14.5.9.  Nel ASA

14.5.10.                Air Products and Chemicals, Inc.

15.  Strategic Recommendations

Figures and Tables

Frequently asked questions

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Global Green Hydrogen Market is projected to grow at a CAGR of over 20% through 2027 due to growing demand from fuel cell electric vehicles market.

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Solar PV accounted for a market share of over 51% in the Global Green Hydrogen market in 2021, and it is forecast to grow at impressive rate from 2022E-2027F.

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Power Generation is the dominant end use industry in the Global Green Hydrogen Market accounting for the majority share in 2021.

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Growing demand from fuel cell electric vehicles and low variable renewable energy electricity costs are the major drivers for the Global Green Hydrogen market.

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Sakshi Bajaal

Business Consultant
Press Release

Global Green Hydrogen Market to Register CAGR of over 20% until 2027

Sep, 2022

Growing demand for green hydrogen in fuel cell electric vehicle and low variable renewable energy electricity costs are the major drivers of the Global Green Hydrogen market.

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