Green Hydrogen Market 2027 – Share, Trends & Forecast

Green Hydrogen Market
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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.

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Table of Content

    1.   Product Overview

  1. Research Methodology
  2. Impact of COVID-19 on the Global Green Hydrogen Market
  3. Executive Summary
  4. Voice of Customer
  5. Global Green Hydrogen Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Technology (Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, and Solid Oxide Electrolyzer)

6.2.2.     By Application (Power Generation, Transport, and Others)

6.2.3.     By End Use Industry (Food & Beverages, Medical, Chemical, Petrochemicals, Glass, and Others)

6.2.4.     By Region

6.2.5.     By Company

6.3.  Product Market Map

  1. North America Green Hydrogen Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Technology

7.2.2.     By Application

7.2.3.     By End Use Industry

7.2.4.     By Country

7.3.  North America: Country Analysis

7.3.1.     United States Green Hydrogen Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Technology

7.3.1.2.2.             By Application

7.3.1.2.3.             By End Use Industry

7.3.2.     Canada Green Hydrogen Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Technology

7.3.2.2.2.             By Application

7.3.2.2.3.             By End Use Industry

7.3.3.     Mexico Green Hydrogen Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Technology

7.3.3.2.2.             By Application

7.3.3.2.3.             By End Use Industry

  1. Asia-Pacific Green Hydrogen Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Technology

8.2.2.     By Application

8.2.3.     By End Use Industry

8.2.4.     By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.     China Green Hydrogen Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Technology

8.3.1.2.2.             By Application

8.3.1.2.3.             By End Use Industry

8.3.2.     India Green Hydrogen Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Technology

8.3.2.2.2.             By Application

8.3.2.2.3.             By End Use Industry

8.3.3.     Japan Green Hydrogen Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Technology

8.3.3.2.2.             By Application

8.3.3.2.3.             By End Use Industry

8.3.4.     South Korea Green Hydrogen Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Technology

8.3.4.2.2.             By Application

8.3.4.2.3.             By End Use Industry

8.3.5.     Australia Green Hydrogen Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Technology

8.3.5.2.2.             By Application

8.3.5.2.3.             By End Use Industry

8.3.6.     Singapore Green Hydrogen Market Outlook

8.3.6.1.         Market Size & Forecast

8.3.6.1.1.             By Value

8.3.6.2.         Market Share & Forecast

8.3.6.2.1.             By Technology

8.3.6.2.2.             By Application

8.3.6.2.3.             By End Use Industry

8.3.7.     Malaysia Green Hydrogen Market Outlook

8.3.7.1.         Market Size & Forecast

8.3.7.1.1.             By Value

8.3.7.2.         Market Share & Forecast

8.3.7.2.1.             By Technology

8.3.7.2.2.             By Application

8.3.7.2.3.             By End Use Industry

8.3.8.     Indonesia Green Hydrogen Market Outlook

8.3.8.1.         Market Size & Forecast

8.3.8.1.1.             By Value

8.3.8.2.         Market Share & Forecast

8.3.8.2.1.             By Technology

8.3.8.2.2.             By Application

8.3.8.2.3.             By End Use Industry


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