As per the recently published report by MarketsandMarkets™, The “Green Hydrogen Market by Technology (Alkaline and PEM), Renewable source (Wind, Solar), End-use Industry (Mobility, Power, Chemical, Industrial, Grid Injection), and Region (North America, Europe, APAC, MEA, & Latin America) – Global Forecast to 2030″, is projected to grow from USD 1.1 billion in 2023 to USD 30.6 billion by 2030, at a CAGR of 61.1% during the forecasted period. High demand from the mobility segment, power industry, electrolysis technologies development, and the low cost for producing renewable energy is expected to drive the green hydrogen market.
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- 329 Market data Tables
- 52 Figures
- 308 Pages and in-depth TOC on “Green Hydrogen Market – Global Forecast to 2030”
This report also provides a comprehensive analysis of the companies listed below:
The major players active in the green hydrogen market include Linde plc (Ireland), Guangdong Synergy Hydrogen Power Technology (China), Siemens Energy AG (Germany), H&R Olwerke Schindler (Germany), Cummins and Enbridge Gas (Canada), Wind to Gas Energy GmbH & Co. KG (Germany), Toshiba Energy Systems & Solutions Corporation (Japan), and Nel ASA (Norway) are the leading players in the market. There is significant competition in the green hydrogen market to develop new process technology, lower the manufacturing cost, expand, and increase the use of green hydrogen in the end-use industries. Owing to such opportunities in the industry, companies are aiming to enhance their market shares by adopting various strategies.
Recent Developments in Green Hydrogen Market Industry
- In June 2022, Siemens Energy and Air Liquide S.A. had signed a joint venture to manufacture industrial-scale large quantities renewable hydrogen electrolyzers. This collaboration aims to facilitate the development of a sustainable hydrogen economy in Europe. The joint venture will promote the growth of a European ecosystem for hydrogen technology and electrolysis. Projected capacity of three gigatons per year by 2025.
- In May 2022, Air Liquide S.A., Toyota Motor, and CaetarioBus have announced a collaboration to advance integrated hydrogen solutions. They will focus on the deployment of hydrogen-powered vehicle fleets, aiming to accelerate the adoption of hydrogen mobility for both light- and heavy-duty vehicles and infrastructure development.
- In April 2022, WPD and Lhyfe have signed a collaboration to produce renewable green hydrogen on a large scale at the Storgrundet offshore wind farm in the Soderhamn municipality of Sweden.