Product Code: GVR-4-68038-800-8
Green Hydrogen Market Growth & Trends:
The global green hydrogen market size is expected to reach USD 60.56 billion by 2030, registering a CAGR of 38.5% from 2025 to 2030, according to a new report by Grand View Research, Inc. Growing government investments and subsidies benefitting clean fuel usage along with hydrogen economy being touted as an environment-friendly alternative to fossil fuel economy are likely to strengthen the demand over the forecast period.
The market is driven by the proliferating deployment of renewable energy sources in various end-use industries. Green hydrogen is produced through the electrolysis of water, with renewable power generation sources such as wind energy, solar energy, and other renewable energy sources. Furthermore, the growing scale of renewable energy is estimated to result in lowering the cost of clean power generation, thereby positively influencing the market growth over the forecast years.
The alkaline electrolyzer segment accounted for 66.18% of the market in 2021 owing to being the conventional electrolyzer technology used in green hydrogen projects. The alkaline electrolyzer uses the liquid alkaline solution of potassium or sodium hydroxide as its electrolyte and it has higher operating hours than PEM electrolyzers. However, PEM electrolyzers are expected to witness a higher growth rate than alkaline electrolyzers in the forecast period.
The transportation segment was the largest in the application segmentation with it accounting for about 40.61% of the global green hydrogen market in 2021. The transportation industry shifting away from fossil fuels and towards renewable energy such as solar energy and green hydrogen is expected to boost the segment in the forecast period. The power generation segment is also expected to grow at a steady pace owing to reducing costs of green hydrogen production.
The pipeline segment in the distribution channel accounted for 63.11% of the market in 2021. A pipeline is the most economically viable method to transport large volumes over long distances. Cargo segmentation is expected to grow at a CAGR of 40.9% in the forecast period owing to increased demand for green hydrogen.
The market in North America is anticipated to attain a prominent growth rate over the forecast period, with U.S. and Canada leading the region owing to the implementation of clean energy policies. In the U.S., California holds the majority of the market share with the growth driven by aggressive de-carbonization targets, such as phasing out of gas or diesel-powered public buses by 2040.
Major players in the industry are focusing on innovation and technological advancements to reduce the high cost of electrolyzer units, boosting the commercialization of green hydrogen production. In addition, market participants are emphasizing practicing several strategic initiatives such as joint ventures, partnerships, mergers & acquisitions, and others to enhance their foothold in the market over the coming years.
Countries realizing their untapped potential in hydrogen markets are expected to enhance the industry landscape over the coming years. In October 2019, Siemens announced a technical partnership on a 5 GW wind and solar combined energy project in Australia. The company is expected to provide its electrolyzer technology to generate green hydrogen through renewable-powered electrolysis. The clean hydrogen produced is intended to be exported to Asian markets.
Green Hydrogen Market Report Highlights:
- Alkaline electrolyzer held the largest revenue share of 65.46% in 2024, owing to its low capital cost and higher operating period capability when compared to the PEM electrolyzer technology.
- Polymer Electrolyte Membrane (PEM) electrolyzer segment is expected to witness the fastest growth rate over the forecast period owing to its lower membrane thickness, high proton conductivity, and lower gas permeability.
- Transport segment led with the largest revenue share of 43.39% in 2024. The increasing adoption of renewable energy sources in the transportation industry is expected to boost the growth during the forecast period.
- Pipeline distribution channel segment accounted for 60.66% of the revenue share in 2024. The lower cost of pipeline distribution coupled with existing pipeline infrastructure is expected to boost the market during the forecast period.
- Europe accounted for a dominant revenue share of 47.47% in 2024, owing to the presence of a high number of green hydrogen production plants across the region. In addition, massive government investments are expected to drive the market growth.
- North America is estimated to grow at a significant CAGR over the forecast period owing to the implementation of clean energy targets along with growing end-market applications such as green hydrogen being used as a fuel in fuel-cell driven vehicles.
- Asia Pacific is expected to grow at the fastest CAGR over the forecast period owing to supporting policies and large-scale green hydrogen projects announced in APAC countries such as Australia and Japan.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market Segmentation & Scope
- 1.2 Assumptions
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 GVR's Internal Database
- 1.3.3 Secondary Sources
- 1.3.4 Third-Party Perspective
- 1.3.5 Primary Research
- 1.4 Information Analysis
- 1.4.1 Data Analysis Models
- 1.5 Market Formulation and Data Visualization
- 1.6 Data Validation and Publishing
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Dynamics
- 3.2 Industry Value Chain Analysis
- 3.3 Regulatory Framework
- 3.3.1 Policies & Plans for Hydrogen by Major Countries
- 3.3.2 Standards and Compliances
- 3.4 Market Dynamics
- 3.4.1 Market Driver Analysis
- 3.4.2 Growing Penetration Of Renewable Energy
- 3.4.3 Market Restraint Analysis
- 3.4.4 Market Opportunities
- 3.5 Business Environment Analysis: Green Hydrogen Market
- 3.5.1 Industry Analysis - Porter's
- 3.5.2 PESTEL analysis
- 3.6 Impact of Corona Virus on Green Hydrogen Market
- 3.6.1 Challenges
- 3.6.2 Impact Verdict - Medium
- 3.7 Comparative market share analysis of blue hydrogen, grey hydrogen, and green hydrogen, (2021, Volume Basis)
- 3.8 Comparative price point analysis of blue hydrogen, grey hydrogen, and green hydrogen (2021, USD/kg)
- 3.9 Production Cost and components of blue hydrogen, grey hydrogen, and green hydrogen
- 3.9.1 Blue hydrogen Component Distribution
- 3.9.2 Grey Hydrogen Component Distribution
- 3.9.3 Green Hydrogen Component Distribution
- 3.9.4 Blue Hydrogen Case Study
- 3.9.5 Grey Hydrogen Case study
- 3.9.6 Green Hydrogen Case study
- 3.10 Overview on the Yellow Hydrogen
Chapter 4 Green Hydrogen Market: Technology Movement Analysis, 2024 & 2030
- 4.1 Green Hydrogen Market: Technology Movement Analysis, 2024 & 2030
- 4.2 Market size & forecasts and trend analysis, 2018 to 2030 for the following
- 4.2.1 Alkaline Electrolyzer
- 4.2.1.1 Global green hydrogen market estimates and forecasts, by alkaline electrolyzer technology, 2018 - 2030 (Kilotons) (USD Million)
- 4.2.2 Polymer Electrolyte Membrane (PEM) Electrolyzer
- 4.2.2.1 Global green hydrogen market estimates and forecasts, by PEM electrolyzer technology, 2018 - 2030 (Kilotons) (USD Million)
- 4.2.3 SOEC Electrolyzer
- 4.2.2.1 Global green hydrogen market estimates and forecasts, by SOEC Electrolyzer technology, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5 Green Hydrogen Market: Application Movement Analysis, 2024 & 2030
- 5.1 Green Hydrogen Market: Application Movement Analysis, 2024 & 2030
- 5.2 Market size & forecasts and trend analysis, 2018 to 2030 for the following:
- 5.2.1 Power Generation
- 5.2.1.1 Global green hydrogen market estimates and forecasts, by Power Genration, 2018 - 2030 (Kilotons) (USD Million)
- 5.2.2 Transport
- 5.2.2.1 Global green hydrogen market estimates and forecasts, by Transport, 2018 - 2030 (Kilotons) (USD Million)
- 5.2.3 Others
- 5.2.3.1 Global green hydrogen market estimates and forecasts, by Others, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6 Green Hydrogen Market: Distribution Channel Movement Analysis, 2024 & 2030
- 6.1 Green Hydrogen Market: Distribution Channel Movement Analysis, 2024 & 2030
- 6.2 Market size & forecasts and trend analysis, 2018 to 2030 for the following:
- 6.2.1 Pipeline
- 6.2.1.1 Global green hydrogen market estimates and forecasts, by Pipeline, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2 Cargo
- 6.2.2.1 Global green hydrogen market estimates and forecasts, by Cargo, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7 Green Hydrogen Market: Regional Estimates & Trend Analysis
- 7.1 Green Hydrogen Market: Regional Movement Analysis, 2024 & 2030
- 7.2 North America
- 7.2.1 North America green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.3 U.S.
- 7.3.1 U.S. green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.4 Canada
- 7.4.1 Canada green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.5 Europe
- 7.5.1 Europe green hydrogen market estimates and forecasts, by technology Type, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.2 Europe green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.3 Europe green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.4 Germany
- 7.5.4.1 Germany green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.4.2 Germany green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.4.3 Germany green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.5 France
- 7.5.5.1 France green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.5.2 France green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.5.3 France green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
- 7.6 UK
- 7.6.1 UK green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.6.2 UK green hydrogen market estimates and forecasts, by APPLICATION, 2018 - 2030 (Kilotons) (USD Million)
- 7.6.3 UK green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
- 7.7 Asia Pacific
- 7.7.1 Asia Pacific green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.7.2 Asia Pacific green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.7.3 Asia Pacific green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
- 7.7.4 Australia
- 7.7.4.1 Australia green hydrogen market estimates and forecasts, by technology TYPE, 2018 - 2030 (Kilotons) (USD Million)
- 7.7.4.2 Australia green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.7.4.3 Australia green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
- 7.8 China
- 7.8.1.1 China green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.8.1.2 China green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.8.1.3 China green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.9 India
- 7.9.1.1 India green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.9.1.2 India green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.9.1.3 India green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
- 7.9.2 Japan
- 7.9.2.1 Japan green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.9.2.2 Japan green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.9.2.3 Japan green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
- 7.10 Central and South America
- 7.10.1 Central and South America green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.10.2 Central and South America green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.10.3 Central and South America green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
- 7.11 Brazil
- 7.11.1.1 Brazil green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.11.1.2 Brazil green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.11.1.3 Brazil green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
- 7.12 Middle East and Africa
- 7.12.1 Middle east and Africa green hydrogen market estimates and forecasts, by technology, 2018 - 2030 (Kilotons) (USD Million)
- 7.12.2 Middle east and Africa green hydrogen market estimates and forecasts, by Application, 2018 - 2030 (Kilotons) (USD Million)
- 7.12.3 Middle east and Africa green hydrogen market estimates and forecasts, by Distribution Channel, 2018 - 2030 (Kilotons) (USD Million)
Chapter 8 Green Hydrogen Market: Hydrogen Refueling Stations
- 8.1 Market overview
- 8.2 Segmentation Overview
- 8.3 Recent development and strategies
- 8.3.1 Cost analysis for setting up of refueling infrastructure
Chapter 9 Green Hydrogen Market - Competitive Landscape
- 9.1 Key Global Players, Recent Market Developments & Their Impact on the Industry
- 9.2 Vendor landscape
- 9.3 Public Companies
- 9.3.1 Competitive Dashboard Analysis
- 9.4 Private Company
- 9.4.1 List of Key Emerging Companies/Technology Disruptors/Innovators
- 9.5 Global Market Share Analysis (2024)
Chapter 10 Company Profiles
- 10.1 Linde plc
- 10.1.1 Company Overview
- 10.1.2 Financial Performance
- 10.1.3 Product Benchmarking
- 10.2 Air Products Inc.
- 10.2.1 Company Overview
- 10.2.2 Financial Performance
- 10.2.3 Product Benchmarking
- 10.2.4 Strategic Initiatives
- 10.3 Air Liquide
- 10.3.1 Company Overview
- 10.3.2 Financial Performance
- 10.3.3 Product Benchmarking
- 10.3.4 Strategic Initiatives
- 10.4 Cummins Inc.
- 10.4.1 Company Overview
- 10.4.2 Financial Performance
- 10.4.3 Product Benchmarking
- 10.4.4 Strategic Initiatives
- 10.5 Engie
- 10.5.1 Company Overview
- 10.5.2 Financial Performance
- 10.5.3 Product Benchmarking
- 10.5.4 Strategic Initiatives
- 10.6 Nel ASA
- 10.6.1 Company Overview
- 10.6.2 Financial Performance
- 10.6.3 Product Benchmarking
- 10.6.4 Strategic Initiatives
- 10.7 Siemens Energy
- 10.7.1 Company Profiles
- 10.7.2 Financial Performance
- 10.7.3 Product Benchmarking
- 10.7.4 Strategic Initiatives
- 10.8 Toshiba Energy Systems & Solutions Corporation
- 10.8.1 Company Overview
- 10.8.2 Product Benchmarking
- 10.8.3 Strategic Initiatives
- 10.9 Uniper SE
- 10.9.1 Company Overview
- 10.9.2 Financial Performance
- 10.9.3 Product Benchmarking
- 10.9.4 Strategic Initiatives
- 10.10 Bloom Energy
- 10.10.1 Company Overview
- 10.10.2 Financial Performance
- 10.10.3 Product Benchmarking
- 10.10.4 Strategic Initiatives