Global Green Hydrogen Market Report and Forecast 2023-2028

Global Green Hydrogen Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global green hydrogen market is projected to grow at a CAGR of 65.4% between 2023 and 2028. Aided by the increasing demand for clean and sustainable energy sources, and the expanding applications of green hydrogen in various sectors, the market is expected to grow significantly by 2028.

Green hydrogen, the cleanest form of hydrogen, is derived from water using renewable energy sources, primarily wind and solar power. It is used extensively in various applications, including energy storage, transportation, and industrial processes. Green hydrogen plays a critical role in the energy transition and the global effort to reduce greenhouse gas emissions, thus aiding the green hydrogen market growth. Beyond its environmental benefits, green hydrogen also boasts excellent energy storage and transport properties, making it a valuable commodity in various industrial applications, including refining, ammonia production, and steel manufacturing.

The increasing global focus on clean, renewable energy sources is driving the global green hydrogen market growth. With growing awareness of the environmental impact of fossil fuels, there has been a significant shift towards clean energy, leading to a surge in demand for green hydrogen. Additionally, the rising trend of decarbonisation in various industries, including energy and transportation, has further contributed to the increasing popularity of green hydrogen.

The expanding applications of green hydrogen in various sectors also play a significant role in propelling the green hydrogen market development. In the energy sector, green hydrogen is used as a clean, flexible source of power that can be stored and transported over long distances. The transportation sector utilises green hydrogen as a fuel for hydrogen-powered vehicles, providing a clean alternative to fossil fuels. The industrial sector uses green hydrogen in various processes, including refining and ammonia production, due to its excellent chemical properties.

Furthermore, the growing demand for decarbonisation in the energy and transportation sectors has led to an increased focus on green hydrogen as a sustainable solution. With the rise of clean technology and the increasing pressure to reduce greenhouse gas emissions, green hydrogen has emerged as a key player in the energy transition, thereby boosting the green hydrogen market expansion.

Market Segmentation

The market can be divided based on technology/electrolyser, end user, source, capacity, and region.

Market Breakup by Technology/Electrolyser
  • Alkaline Water Electrolysis
  • PEM (Proton Exchange Membrane)
  • SOEC (Solid Oxide Fuel Cell)
Market Breakup by End User
  • Transport / Mobility
  • Utilities
  • Grid Injection
  • Industrial
  • Others
Market Breakup by Source
  • Solar
  • Wind
  • Geothermal
  • Others
Market Breakup by Capacity
  • Up to 500 KW
  • 501-1500 KW
  • 1501-5000 KW
  • Above 5000 KW
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global green hydrogen companies. Some of the major key players explored in the report by Expert Market Research are as follows:
  • Air Liquide
  • Linde Plc
  • Air Products & Chemicals Inc.
  • Engie
  • Uniper SE
  • Siemens Energy AG
  • Reliance Industries Ltd
  • Madoqua Renewables
  • Tecnimont Marie
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Green Hydrogen Share in the Net Zero Scenario, 2020-2030
8.1 By Application
8.2 By Technology
9 Global Green Hydrogen Market Analysis
9.1 Key Industry Highlights
9.2 Global Green Hydrogen Historical Market (2018-2022)
9.3 Global Green Hydrogen Market Forecast (2023-2028)
9.4 Global Green Hydrogen Market by Technology/Electrolyser
9.4.1 Alkaline Water Electrolysis
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2022)
9.4.1.3 Forecast Trend (2023-2028)
9.4.2 PEM (Proton Exchange Membrane)
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2022)
9.4.2.3 Forecast Trend (2023-2028)
9.4.3 SOEC (Solid Oxide Fuel Cell)
9.4.3.1 Market Share
9.4.3.2 Historical Trend (2018-2022)
9.4.3.3 Forecast Trend (2023-2028)
9.5 Global Green Hydrogen Market by End User
9.5.1 Transport / Mobility
9.5.1.1 Market Share
9.5.1.2 Historical Trend (2018-2022)
9.5.1.3 Forecast Trend (2023-2028)
9.5.2 Utilities
9.5.2.1 Market Share
9.5.2.2 Historical Trend (2018-2022)
9.5.2.3 Forecast Trend (2023-2028)
9.5.3 Grid Injection
9.5.3.1 Market Share
9.5.3.2 Historical Trend (2018-2022)
9.5.3.3 Forecast Trend (2023-2028)
9.5.4 Industrial
9.5.4.1 Market Share
9.5.4.2 Historical Trend (2018-2022)
9.5.4.3 Forecast Trend (2023-2028)
9.5.5 Others
9.6 Global Green Hydrogen Market by Source
9.6.1 Solar
9.6.1.1 Market Share
9.6.1.2 Historical Trend (2018-2022)
9.6.1.3 Forecast Trend (2023-2028)
9.6.2 Wind
9.6.2.1 Market Share
9.6.2.2 Historical Trend (2018-2022)
9.6.2.3 Forecast Trend (2023-2028)
9.6.3 Geothermal
9.6.3.1 Market Share
9.6.3.2 Historical Trend (2018-2022)
9.6.3.3 Forecast Trend (2023-2028)
9.6.4 Others
9.7 Global Green Hydrogen Market by Capacity
9.7.1 Up to 500 KW
9.7.1.1 Market Share
9.7.1.2 Historical Trend (2018-2022)
9.7.1.3 Forecast Trend (2023-2028)
9.7.2 501-1500 KW
9.7.2.1 Market Share
9.7.2.2 Historical Trend (2018-2022)
9.7.2.3 Forecast Trend (2023-2028)
9.7.3 1501-5000 KW
9.7.3.1 Market Share
9.7.3.2 Historical Trend (2018-2022)
9.7.3.3 Forecast Trend (2023-2028)
9.7.4 Above 5000 KW
9.7.4.1 Market Share
9.7.4.2 Historical Trend (2018-2022)
9.7.4.3 Forecast Trend (2023-2028)
9.8 Global Green Hydrogen Market by Region
9.8.1 North America
9.8.1.1 Market Share
9.8.1.2 Historical Trend (2018-2022)
9.8.1.3 Forecast Trend (2023-2028)
9.8.2 Europe
9.8.2.1 Market Share
9.8.2.2 Historical Trend (2018-2022)
9.8.2.3 Forecast Trend (2023-2028)
9.8.3 Asia Pacific
9.8.3.1 Market Share
9.8.3.2 Historical Trend (2018-2022)
9.8.3.3 Forecast Trend (2023-2028)
9.8.4 Latin America
9.8.4.1 Market Share
9.8.4.2 Historical Trend (2018-2022)
9.8.4.3 Forecast Trend (2023-2028)
9.8.5 Middle East and Africa
9.8.5.1 Market Share
9.8.5.2 Historical Trend (2018-2022)
9.8.5.3 Forecast Trend (2023-2028)
10 North America Green Hydrogen Market Analysis
10.1 United States of America
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Canada
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
11 Europe Green Hydrogen Market Analysis
11.1 United Kingdom
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Germany
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 France
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 Italy
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Spain
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Asia Pacific Green Hydrogen Market Analysis
12.1 China
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Japan
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 India
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 South Korea
12.4.1 Market Share
12.4.2 Historical Trend (2018-2022)
12.4.3 Forecast Trend (2023-2028)
12.5 Vietnam
12.5.1 Market Share
12.5.2 Historical Trend (2018-2022)
12.5.3 Forecast Trend (2023-2028)
12.6 Philippines
12.6.1 Market Share
12.6.2 Historical Trend (2018-2022)
12.6.3 Forecast Trend (2023-2028)
12.7 Australia
12.7.1 Market Share
12.7.2 Historical Trend (2018-2022)
12.7.3 Forecast Trend (2023-2028)
12.8 Others
13 Latin America Green Hydrogen Market Analysis
13.1 Brazil
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 Argentina
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Mexico
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 Others
14 Middle East and Africa Green Hydrogen Market Analysis
14.1 Saudi Arabia
14.1.1 Market Share
14.1.2 Historical Trend (2018-2022)
14.1.3 Forecast Trend (2023-2028)
14.2 United Arab Emirates
14.2.1 Market Share
14.2.2 Historical Trend (2018-2022)
14.2.3 Forecast Trend (2023-2028)
14.3 Egypt
14.3.1 Market Share
14.3.2 Historical Trend (2018-2022)
14.3.3 Forecast Trend (2023-2028)
14.4 South Africa
14.4.1 Market Share
14.4.2 Historical Trend (2018-2022)
14.4.3 Forecast Trend (2023-2028)
14.5 Others
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Production Cost Analysis, By Major Producing Countries
17 Price Analysis
17.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Air Liquide
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Linde Plc
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Air Products & Chemicals Inc.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Engie
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Uniper SE
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Siemens Energy AG
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Reliance Industries Ltd
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Madoqua Renewables
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Tecnimont Marie
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Others
19 Key Trends and Developments in the Market

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