Green Hydrogen Market Research Report - Global Forecast till 2030

Green Hydrogen Market Research Report: Information by Technology (Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, and Solid Oxide Electrolyzer), Application (Transport, Power Generation, Industries,and Heating), Location (Onshore and Offshore), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Forecast till 2030

ID: MRFR/E&P/8605-CR | February 2021 | Region: Global | 188 Pages         

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY 14

1.1 MARKET ATTRACTIVENESS ANALYSIS 15

1.1.1 GLOBAL GREEN HYDROGEN MARKET, BY TECHNOLOGY 16

1.1.2 GLOBAL GREEN HYDROGEN MARKET, BY APPLICATION 17

1.1.3 GLOBAL GREEN HYDROGEN MARKET, BY LOCATION 18

1.1.4 GLOBAL GREEN HYDROGEN MARKET, BY REGION 19

2 MARKET INTRODUCTION 20

2.1 DEFINITION 20

2.2 SCOPE OF THE STUDY 20

2.3 RESEARCH OBJECTIVE 20

2.4 MARKET STRUCTURE 20

2.5 KEY BUYING CRITERIA 21

3 RESEARCH METHODOLOGY 22

3.1 RESEARCH PROCESS 22

3.2 PRIMARY RESEARCH 23

3.3 SECONDARY RESEARCH 24

3.4 MARKET SIZE ESTIMATION 25

3.5 FORECAST MODEL 26

3.6 LIST OF ASSUMPTIONS & LIMITATIONS 27

4 MARKET INSIGHTS 28

5 MARKET DYNAMICS 30

5.1 INTRODUCTION 30

5.2 DRIVERS 31

5.2.1 LOW VARIABLE RENEWABLE ENERGY (VRE) ELECTRICITY COSTS 31

5.2.2 FLEXIBLE POWER SYSTEM 31

5.2.3 WIDE APPLICATION OF HYDROGEN 31

5.2.4 DRIVERS IMPACT ANALYSIS 32

5.3 RESTRAINTS 32

5.3.1 HIGH PRODUCTION COSTS 32

5.3.2 LIMITED DEDICATED INFRASTRUCTURE 33

5.3.3 ENERGY LOSS DURING PRODUCTION AND USAGE OF GREEN HYDROGEN 33

5.3.4 GROWING IMPORTANCE OF SUSTAINABILITY 33

5.3.5 RESTRAINTS IMPACT ANALYSIS 34

 

5.4 OPPORTUNITIES 34

5.4.1 SCALING UP OF TECHNOLOGIES 34

5.4.2 GOVERNMENT INITIATIVES FOR ZERO EMISSION SYSTEMS 34

5.4.3 GROWING DEMAND FOR HYDROGEN IN END-USE INDUSTRIES 35

6 MARKET FACTOR ANALYSIS 36

6.1 SUPPLY CHAIN ANALYSIS 36

6.1.1 RESEARCH & DEVELOPMENT 36

6.1.2 RAW MATERIAL SUPPLY & PRODUCTION 37

6.1.3 SALES & DISTRIBUTION 37

6.1.4 END USE 37

6.2 PORTER’S FIVE FORCES MODEL 38

6.2.1 THREAT OF NEW ENTRANTS 38

6.2.2 BARGAINING POWER OF SUPPLIERS 39

6.2.3 THREAT OF SUBSTITUTES 39

6.2.4 BARGAINING POWER OF BUYERS 39

6.2.5 INTENSITY OF RIVALRY 39

6.3 IMPACT OF COVID-19 PANDEMIC ON THE GLOBAL GREEN HYDROGEN MARKET 40

6.3.1 IMPACT ON THE OFF-GRID RENEWABLE ENERGY INDUSTRY 40

6.3.2 IMPACT ON SUPPLY CHAIN OF GREEN HYDROGEN MARKET 41

6.3.3 IMPACT ON DEMAND OF GREEN HYDROGEN 41

6.3.4 IMPACT ON PRICING OF GREEN HYDROGEN 42

7 GLOBAL GREEN HYDROGEN MARKET,BY TECHNOLOGY 43

7.1 OVERVIEW 43

7.1.1 GLOBAL GREEN HYDROGEN MARKET ESTIMATES & FORECAST, BY TECHNOLOGY,2019–2027 44

7.2 ALKALINE ELECTROLYZER 44

7.3 PROTON EXCHANGE MEMBRANE ELECTROLYZER 44

7.4 SOLID OXIDE ELECTROLYZER 44

8 GLOBAL GREEN HYDROGEN MARKET,BY APPLICATION 45

8.1 OVERVIEW 45

8.1.1 GLOBAL GREEN HYDROGEN MARKET ESTIMATES & FORECAST, BY APPLICATION,2019–2027 46

8.2 TRANSPORT 46

8.3 POWER GENERATION 47

8.4 HEATING 47

8.5 INDUSTRIES 48

 

9 GLOBAL GREEN HYDROGEN MARKET,BY LOCATION 49

9.1 OVERVIEW 49

9.1.1 GLOBAL GREEN HYDROGEN MARKET ESTIMATES & FORECAST, BY LOCATION,2019–2027 50

9.2 ONSHORE 50

9.3 OFFSHORE 50

10 GLOBAL GREEN HYDROGEN MARKET,BY REGION 51

10.1 OVERVIEW 51

10.2 NORTH AMERICA 53

10.2.1 US 55

10.2.2 CANADA 56

10.3 EUROPE 57

10.3.1 GERMANY 59

10.3.2 FRANCE 60

10.3.3 UK 61

10.3.4 RUSSIA 62

10.3.5 ITALY 63

10.3.6 SPAIN 64

10.3.7 REST OF EUROPE 65

10.4 ASIA-PACIFIC 67

10.4.1 CHINA 69

10.4.2 SOUTH KOREA 70

10.4.3 JAPAN 71

10.4.4 AUSTRALIA 72

10.4.5 REST OF ASIA-PACIFIC 73

10.5 REST OF THE WORLD (ROW) 74

10.5.1 GCC 76

10.5.2 SOUTH AFRICA 77

10.5.3 REST OF THE COUNTRIES 79

11 COMPETITIVE LANDSCAPE 81

11.1 INTRODUCTION 81

11.2 COMPETITIVE BENCHMARKING 82

11.3 KEY DEVELOPMENTS 83

11.3.1 EXPANSION 83

11.3.2 AGREEMENT 83

11.3.3 ACQUISITIONS 84

11.3.4 INVESTMENT 84

11.3.5 PARTNERSHIP 84

11.3.6 MERGER 84

12 COMPANY PROFILES 85

12.1 SIEMENS 85

12.1.1 COMPANY OVERVIEW 85

12.1.2 FINANCIAL OVERVIEW 86

12.1.3 KEY DEVELOPMENTS 87

12.1.4 SWOT ANALYSIS 87

12.1.5 KEY STRATEGIES 88

12.2 UNIPER SE 89

12.2.1 COMPANY OVERVIEW 89

12.2.2 FINANCIAL OVERVIEW 90

12.2.3 KEY DEVELOPMENTS 91

12.2.4 SWOT ANALYSIS 91

12.2.5 KEY STRATEGIES 92

12.3 ENGIE 93

12.3.1 COMPANY OVERVIEW 93

12.3.2 FINANCIAL OVERVIEW 93

12.3.3 KEY DEVELOPMENTS 94

12.3.4 SWOT ANALYSIS 94

12.3.5 KEY STRATEGIES 94

12.4 TOSHIBA CORPORATION 95

12.4.1 COMPANY OVERVIEW 95

12.4.2 FINANCIAL OVERVIEW 95

12.4.3 KEY DEVELOPMENTS 96

12.4.4 SWOT ANALYSIS 96

12.4.5 KEY STRATEGIES 96

12.5 AIR LIQUIDE 97

12.5.1 COMPANY OVERVIEW 97

12.5.2 FINANCIAL OVERVIEW 97

12.5.3 KEY DEVELOPMENTS 98

12.5.4 SWOT ANALYSIS 99

12.5.5 KEY STRATEGIES 99

12.6 CUMMINS INC. 100

12.6.1 COMPANY OVERVIEW 100

12.6.2 FINANCIAL OVERVIEW 100

12.6.3 KEY DEVELOPMENTS 101

12.6.4 SWOT ANALYSIS 101

12.6.5 KEY STRATEGIES 101

12.7 LINDE 102

12.7.1 COMPANY OVERVIEW 102

12.7.2 FINANCIAL OVERVIEW 102

12.7.3 KEY DEVELOPMENTS 103

12.7.4 SWOT ANALYSIS 103

12.7.5 KEY STRATEGIES 104

12.8 AIR PRODUCTS INC. 105

12.8.1 COMPANY OVERVIEW 105

12.8.2 FINANCIAL OVERVIEW 105

12.8.3 KEY DEVELOPMENTS 106

12.8.4 SWOT ANALYSIS 106

12.8.5 KEY STRATEGIES 107

12.9 NEL ASA 108

12.9.1 COMPANY OVERVIEW 108

12.9.2 FINANCIAL OVERVIEW 108

12.9.3 KEY DEVELOPMENTS 109

12.9.4 SWOT ANALYSIS 109

12.9.5 KEY STRATEGIES 110

12.10 PLUG POWER INC. 111

12.10.1 COMPANY OVERVIEW 111

12.10.2 FINANCIAL OVERVIEW 111

12.10.3 KEY DEVELOPMENTS 112

12.10.4 SWOT ANALYSIS 112

12.10.5 KEY STRATEGIES 113

12.11 MCPHY ENERGY S.A. 114

12.11.1 COMPANY OVERVIEW 114

12.11.2 FINANCIAL OVERVIEW 114

12.11.3 KEY DEVELOPMENTS 115

12.11.4 KEY STRATEGIES 115

12.12 ITM POWER 116

12.12.1 COMPANY OVERVIEW 116

12.12.2 FINANCIAL OVERVIEW 117

12.12.3 KEY DEVELOPMENTS 118

12.12.4 SWOT ANALYSIS 118

12.12.5 KEY STRATEGIES 119

 

12.13 MESSER GROUP GMBH 120

12.13.1 COMPANY OVERVIEW 120

12.13.2 FINANCIAL OVERVIEW 120

12.13.3 KEY DEVELOPMENTS 121

12.13.4 SWOT ANALYSIS 121

12.13.5 KEY STRATEGIES 121

 

LIST OF TABLES

TABLE 1 PRIMARY INTERVIEWS 24

TABLE 2 LIST OF ASSUMPTIONS & LIMITATIONS 28

TABLE 3 GLOBAL GREEN HYDROGEN MARKET ESTIMATES & FORECAST, BY TECHNOLOGY, 2019–2027(USD MILLION) 45

TABLE 4 GLOBAL GREEN HYDROGEN MARKET ESTIMATES & FORECAST, BY APPLICATION, 2019–2027(USD MILLION) 47

TABLE 5 GLOBAL GREEN HYDROGEN MARKET ESTIMATES & FORECAST, BY LOCATION, 2019–2027(USD MILLION) 51

TABLE 6 GLOBAL GREEN HYDROGEN MARKET ESTIMATES & FORECAST, BY REGION, 2019–2027 (USD MILLION) 53

TABLE 7 NORTH AMERICA: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2027 (USD MILLION) 54

TABLE 8 NORTH AMERICA: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 55

TABLE 9 NORTH AMERICA: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 55

TABLE 10 NORTH AMERICA: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 55

TABLE 11 US: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 56

TABLE 12 US: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 56

TABLE 13 US: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 56

TABLE 14 CANADA: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 57

TABLE 15 CANADA: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 57

TABLE 16 CANADA: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 57

TABLE 17 EUROPE: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2027 (USD MILLION) 58

TABLE 18 EUROPE: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 59

TABLE 19 EUROPE: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 59

TABLE 20 EUROPE: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 59

TABLE 21 GERMANY: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 60

TABLE 22 GERMANY: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 60

TABLE 23 GERMANY: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 61

TABLE 24 FRANCE: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 61

TABLE 25 FRANCE: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 61

TABLE 26 FRANCE: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 62

TABLE 27 UK: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 62

TABLE 28 UK: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 62

TABLE 29 UK: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 63

TABLE 30 RUSSIA: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 63

TABLE 31 RUSSIA: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 63

TABLE 32 RUSSIA: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 64

TABLE 33 ITALY: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 64

TABLE 34 ITALY: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 64

TABLE 35 ITALY: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 65

TABLE 36 SPAIN: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 65

TABLE 37 SPAIN: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 65

TABLE 38 SPAIN: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 66

TABLE 39 REST OF EUROPE: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 66

TABLE 40 REST OF EUROPE: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 66

TABLE 41 REST OF EUROPE: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 67

TABLE 42 ASIA-PACIFIC: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2027 (USD MILLION) 68

TABLE 43 ASIA-PACIFIC: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 69

TABLE 44 ASIA-PACIFIC: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 69

TABLE 45 ASIA-PACIFIC: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 69

TABLE 46 CHINA: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 70

TABLE 47 CHINA: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 70

TABLE 48 CHINA: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 70

TABLE 49 SOUTH KOREA: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 71

TABLE 50 SOUTH KOREA: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 71

TABLE 51 SOUTH KOREA: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 71

TABLE 52 JAPAN: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 72

TABLE 53 JAPAN: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 72

TABLE 54 JAPAN: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 72

TABLE 55 AUSTRALIA: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 73

TABLE 56 AUSTRALIA: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 73

TABLE 57 AUSTRALIA: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 73

TABLE 58 REST OF ASIA-PACIFIC: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 74

TABLE 59 REST OF ASIA-PACIFIC: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 74

TABLE 60 REST OF ASIA-PACIFIC: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 74

TABLE 61 REST OF THE WORLD: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2027 (USD MILLION) 75

TABLE 62 REST OF THE WORLD: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 76

TABLE 63 REST OF THE WORLD: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 76

TABLE 64 REST OF THE WORLD: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 76

TABLE 65 GCC: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 77

TABLE 66 GCC: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 77

TABLE 67 GCC: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 78

TABLE 68 SOUTH AFRICA: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 78

TABLE 69 SOUTH AFRICA: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 79

TABLE 70 SOUTH AFRICA: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 79

TABLE 71 REST OF THE COUNTRIES: GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 80

TABLE 72 REST OF THE COUNTRIES: GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 80

TABLE 73 REST OF THE COUNTRIES: GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 81

TABLE 74 EXPANSION 84

TABLE 75 AGREEMENT 84

TABLE 76 ACQUISITIONS 85

TABLE 77 INVESTMENT 85

TABLE 78 PARTNERSHIP 85

TABLE 79 MERGER 85

TABLE 80 SIEMENS: KEY DEVELOPMENTS 88

TABLE 81 UNIPER SE: KEY DEVELOPMENTS 92

TABLE 82 ENGIE: KEY DEVELOPMENTS 95

TABLE 83 TOSHIBA CORPORATION: KEY DEVELOPMENTS 97

TABLE 84 AIR LIQUIDE: KEY DEVELOPMENTS 99

TABLE 85 CUMMINS INC.: KEY DEVELOPMENTS 102

TABLE 86 LINDE: KEY DEVELOPMENTS 104

TABLE 87 AIR PRODUCTS INC.: KEY DEVELOPMENTS 107

TABLE 88 NEL ASA: KEY DEVELOPMENTS 110

TABLE 89 PLUG POWER INC.: KEY DEVELOPMENTS 113

TABLE 90 MCPHY ENERGY S.A.: KEY DEVELOPMENTS 116

TABLE 91 ITM POWER: KEY DEVELOPMENTS 119

TABLE 92 MESSER GROUP GMBH: KEY DEVELOPMENTS 122

 

LIST OF FIGURES

FIGURE 1 MARKET SYNOPSIS 16

FIGURE 2 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL GREEN HYDROGEN MARKET, 2019 17

FIGURE 3 GLOBAL GREEN HYDROGEN MARKET ANALYSIS, BY TECHNOLOGY 18

FIGURE 4 GLOBAL GREEN HYDROGEN MARKET ANALYSIS, BY APPLICATION 19

FIGURE 5 GLOBAL GREEN HYDROGEN MARKET ANALYSIS, BY LOCATION 20

FIGURE 6 GLOBAL GREEN HYDROGEN MARKET ANALYSIS, BY REGION, 2020 21

FIGURE 7 GLOBAL GREEN HYDROGEN MARKET: STRUCTURE 22

FIGURE 8 KEY BUYING CRITERIA FOR GREEN HYDROGEN 23

FIGURE 9 RESEARCH PROCESS 24

FIGURE 10 TOP-DOWN AND BOTTOM-UP APPROACHES 27

FIGURE 11 NORTH AMERICA: GREEN HYDROGEN MARKET SIZE, BY COUNTRY (2019 VS 2026) 30

FIGURE 12 EUROPE: GREEN HYDROGEN MARKET SIZE, BY COUNTRY (2019 VS 2026) 30

FIGURE 13 ASIA-PACIFIC: GREEN HYDROGEN MARKET SIZE, BY COUNTRY (2019 VS 2026) 31

FIGURE 14 REST OF THE WORLD (ROW): GREEN HYDROGEN MARKET SIZE, BY COUNTRY (2019 VS 2026) 31

FIGURE 15 MARKET DYNAMICS OVERVIEW 32

FIGURE 16 DRIVERS IMPACT ANALYSIS: GLOBAL GREEN HYDROGEN MARKET 34

FIGURE 17 RESTRAINTS IMPACT ANALYSIS: GLOBAL GREEN HYDROGEN MARKET 36

FIGURE 18 GLOBAL GREEN HYDROGEN MARKET: SUPPLY CHAIN 38

FIGURE 19 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL GREEN HYDROGEN MARKET 40

FIGURE 20 GLOBAL GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2020 (% SHARE) 45

FIGURE 21 GLOBAL GREEN HYDROGEN MARKET, BY TECHNOLOGY, 2019–2027 (USD MILLION) 45

FIGURE 22 GLOBAL GREEN HYDROGEN MARKET, BY APPLICATION, 2020 (% SHARE) 47

FIGURE 23 GLOBAL GREEN HYDROGEN MARKET, BY APPLICATION, 2019–2027 (USD MILLION) 47

FIGURE 24 GLOBAL GREEN HYDROGEN MARKET, BY LOCATION, 2020 (% SHARE) 51

FIGURE 25 GLOBAL GREEN HYDROGEN MARKET, BY LOCATION, 2019–2027 (USD MILLION) 51

FIGURE 26 GLOBAL GREEN HYDROGEN MARKET, BY REGION, 2019–2027 (USD MILLION) 53

FIGURE 27 GLOBAL GREEN HYDROGEN MARKET, BY REGION, 2020 (% SHARE) 54

FIGURE 28 SIEMENS: FINANCIAL OVERVIEW SNAPSHOT 88

FIGURE 29 SIEMENS: SWOT ANALYSIS 89

FIGURE 30 UNIPER SE: FINANCIAL OVERVIEW SNAPSHOT 92

FIGURE 31 UNIPER SE: SWOT ANALYSIS 93

FIGURE 32 ENGIE: FINANCIAL OVERVIEW SNAPSHOT 95

FIGURE 33 ENGIE: SWOT ANALYSIS 96

FIGURE 34 TOSHIBA CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 97

FIGURE 35 TOSHIBA CORPORATION: SWOT ANALYSIS 98

FIGURE 36 AIR LIQUIDE: FINANCIAL OVERVIEW SNAPSHOT 99

FIGURE 37 AIR LIQUIDE: SWOT ANALYSIS 101

FIGURE 38 CUMMINS INC.: FINANCIAL OVERVIEW SNAPSHOT 102

FIGURE 39 CUMMINS INC.: SWOT ANALYSIS 103

FIGURE 40 LINDE: FINANCIAL OVERVIEW SNAPSHOT 104

FIGURE 41 LINDE: SWOT ANALYSIS 105

FIGURE 42 AIR PRODUCTS INC.: FINANCIAL OVERVIEW SNAPSHOT 107

FIGURE 43 AIR PRODUCTS INC.: SWOT ANALYSIS 108

FIGURE 44 NEL ASA: FINANCIAL OVERVIEW SNAPSHOT 110

FIGURE 45 NEL ASA: SWOT ANALYSIS 111

FIGURE 46 PLUG POWER INC.: FINANCIAL OVERVIEW SNAPSHOT 113

FIGURE 47 PLUG POWER INC.: SWOT ANALYSIS 114

FIGURE 48 MCPHY ENERGY S.A.: FINANCIAL OVERVIEW SNAPSHOT 116

FIGURE 49 ITM POWER: FINANCIAL OVERVIEW SNAPSHOT 119

FIGURE 50 ITM POWER: SWOT ANALYSIS 120

FIGURE 51 MESSER GROUP GMBH: FINANCIAL OVERVIEW SNAPSHOT 122

FIGURE 52 MESSER GROUP GMBH: SWOT ANALYSIS 123

Green Hydrogen Market

Green Hydrogen Market share is expected to reach USD 10.22 billion in valuation, representing a compound annual growth rate of a CAGR of 57.41%.

Segmentation

By Technology Alkaline Electrolyzer Proton Exchange Membrane Electrolyzer Solid Oxide Electrolyzer
By Application Transport Power Generation Industries Heating
By Location Onshore Offshore

Key Players

  • Green Hydrogen Systems (Denmark)
  • Solena Group (US)
  • H2X (Australia)
  • Siemens Gas and Power GmbH & Co. KG (Germany)
  • Engie (France)
  • FuelcellWorks (US)
  • Plug Power (US)
  • Fuelcell Energy (US)
  • Hydrogenics (Canada)
  • Ballard Power Systems (Canada)
  • Nikola Motors (US)
  • Ergosup (France)
  • Loop Energy (Canada)
  • Syzygy Plasmonics (US)

Drivers

  • High initial cost of setting up hydrogen infrastructure
  • Growing demand for renewable energy resources
  • Increasing significantly due to the increasing government investments and subsidies promoting clean fuel usage
  • including hydrogen
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Green Hydrogen Market Overview


According to the latest research report, during the projected timeframe, the Green Hydrogen Market size is expected to reach USD 10.22 billion in valuation, representing a compound annual growth rate of a CAGR of 57.41%. In 2020, the market accounted for us$ 0.41 billion. Green hydrogen is produced without the need for fossil fuels by using renewable energy sources. When characterizing a colorless chemical, there is a wide selection of colors. Coal, Natural gas, and oil may all be substituted for this in a broad range of uses without sacrificing quality or reliability.


Hydrolysis of water yields green hydrogen, produced by using power to generate it. Wind and solar power are two examples of renewable energy sources that may be used to generate these. The worldwide market is expected to grow at an incredibly rapid pace. There is a growing demand for green technology, and government attempts to encourage the widespread use of zero-emission systems are helping to fuel this growth. Since the need for hydrogen has grown across many industries, the worldwide market focuses on new approaches that can lower expenses and enhance infrastructure.


This report contains all the information on the global Green Hydrogen Market analysis and the market strengths. In addition, the report also includes the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the global Green Hydrogen Market forecast for 2030 is also included in the report.


Covid 19 Analysis


Markets worldwide have been impacted significantly by this epidemic since the first incidence was discovered in December of 2019. By 2028, there will be substantial growth prospects in the global green hydrogen market, thanks to the fact that it is now operational in several critical regions throughout the globe. Several nations are still grappling with the repercussions of the epidemic, including China, the United States, Italy, and the United Kingdom. It is also becoming more difficult for the world's rapidly expanding economy to fulfill the demands of the global marketplace. A decrease in power consumptionSIEMENS has occurred during the epidemic. Nevertheless, residential building consumption has expanded significantly.


Market Dynamic



  • Drivers


Global greenhouse gas emissions have been linked to the extensive and alarming usage of fossil fuels and urbanization. Methane, Carbon dioxide, and nitrous oxide all play a significant part in turning up the plants' heat and causing climate change. Global temperatures have risen by one degree during the previous century. As a result, environmentalists push people to quit using polluting fossil fuels and urge green hydrogen to be widely used as a substitute. As a result, there is a lot of interest in emission control technology in various fields.



  • Opportunities


Water electrolysis and steam methane reforming are now utilized to create hydrogen throughout the world. The vast majority of hydrogen generated today is utilized in petroleum refining and the production of fertilizers. Almost all of it originates from the reformation of fossil fuels, which has been the most cost-effective approach. Yet, as CO2 is produced throughout the process, this has no meaningful positive impact on the climate. Green hydrogen is produced through the electrolysis of water, a renewable energy source.



  • Restraints


It is possible to store hydrogen in three different ways. The stored hydrogen may be utilized to generate energy, but around outcome measures, it is employed at a lesser rate than other methods of storing technologies. Comparatively, the cost of hydrogen storage is higher than for other fossil fuels. In comparison to hydrogen, the concentration of liquid hydrogen is much higher, and the procedure of liquefaction is required to get it there. A mechanical plant with a very intricate design must be used for this system to operate. This results in a rise in total expenses.



  • Challenges


Hydrogen automobiles are more common in South Korea and Japan. These nations' governments subsidize these automobiles. They also fund the essential infrastructure. California offers incentives for the usage of fuel cell automobiles. Even though hydrogen-powered automobiles are promising platforms in the present world, scientists say they need the usage of fossil fuels to produce.


In comparison, electric automobiles use batteries and are more eco-friendly than hydrogen cars. On tries to utilize renewable hydrogen. Tank refueling infrastructure is also lacking, posing a problem for the capitalist markets.



  • Cumulative Growth Analysis


Market segmentation is based on numerous end-uses such as chemicals, heat generation, transportation fuel, etc. By 2035, the Green Hydrogen industry is expected to be dominated by electricity generation. Green Hydrogen is an option for nations that use costly imported and harmful fuels. It is inexpensive and can be transformed into energy using giant fuel cells in local power plants. Green Hydrogen-powered fuel cells eliminate the need for traditional fossil fuels such as oil or gas. As a result, a country's dependence on hydrocarbon imports may be reduced.



  • Value Chain Analysis


According to the performance of several market sectors, the green hydrogen market growth is expected to expand significantly in the following years. It is equipped with a proton exchange membrane electrolyzer, an alkaline electrolyzer, and a solid oxide electrolyzer, all of which are technologically advanced. It is classified into four categories: transportation, electricity production, industry, and heating. In addition, it is divided into two categories: onshore and offshore.


The hydrogen generating market has been classified into two types: captive and merchant, based on production and supply. The merchant market will likely grow as large-scale hydrogen generation using water electrolysis and oil and gas processes becomes more prevalent. Natural gas and water electrolysis are two methods for producing merchant hydrogen. It is less expensive to use this technology since it decreases the demand for fuel transportation and, therefore, the requirement for additional hydrogen-producing infrastructure. But because of its restricted capacity, its hydrogen costs are much greater than those associated with confined hydrogen generation.



  • Segmentation Overview


The market is segmented based on the technology, application, location, and region. The global green hydrogen market trends are expected to witness decent growth during the forecast period.


By Application


The market is segmented into transport, power generation, industries, and heating.


By end-users


The market is segmented into an alkaline electrolyzer, proton exchange membrane electrolyzer, and solid oxide electrolyzer based on the propulsion types.


Regional Analysis


Market industry movements for environmentally friendly hydrogen are successfully taking root in six critical areas: Europe, Asia Pacific, Africa, North America, the Middle East, and South America. According to analysts, during the projection period, the area of Europe is anticipated to see enormous development. One of the reasons for this is the availability of a robust, long-term infrastructure and a large number of prospects in the marketplace. In addition, the price of renewable energy production is decreasing, which will be another factor contributing to its expansion in the following years. Because of its ability to build massive facilities for storing green hydrogen, North America will be the quickest area of the worldwide green hydrogen market share in the foreseeable future. The United States will play a significant role in expanding the market in this area.


Competitive landscape


Corporations are using many different inorganics and organic tactics to strengthen their position within the green hydrogen sector. Therefore, a detailed competition analysis of these top competitors in the green hydrogen market value is included in the report. This covers their necessary details, recent advancements, and effective market strategies, among other information.


Major Key Players



  • SEIMENS (Germany)

  • UNIPER SE (Germany)

  • ENGIE (France)

  • Cummins Inc. (US)

  • Air LIQUIDE (France)

  • Toshiba Corporation (Japan)

  • NEL ASA (Norway)

  • Air Products Inc. (US)

  • LINDE (UK)

  • Messer Group GMBH (Germany)

  • MC PHY Energy (France)

  • Plug Power Inc. (US)

  • ITM Power (UK).


Report Overview


The following report comprises of –



  • Market overview

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis


Segmentation Overview



  • By Application

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Recent Developments



  • GN-Hydrogen Power Technology Co., Ltd. introduced a new fuel cell stack in October 2020, building on its current array of products. In addition, multi-dimensional stack design, foldable graphite plate technology, and ultra-thin CCM innovation are also implemented.

  • This container-based Proton PEM electrolyzer was released in May 2019 by Nel ASA. The conventional 1 and 2 MW containerized versions of the M Series were provided. One of the most important considerations throughout the development process was the ability to scale from the 1 MW platforms to the 2 MW platforms and to connect numerous units simply in the field. The corporation aimed to address the market needs with this particular model.


By Technology



  • Proton exchange membrane electrolyzer

  • Alkaline electrolyzer

  • Solid oxide electrolyzer


By Application



  • Power generation

  • Transport

  • Others


By End-use industry



  • Food & beverages

  • Medical

  • Chemical

  • Petrochemicals

  • Glass

  • Others


By Region



  • North America

    • U.S.

    • Canada

    • Mexico



  • Europe

    • Germany

    • France

    • Italy

    • Spain

    • UK

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • South Korea

    • Rest of Asia-Pacific



  • LAMEA

    • Brazil

    • Saudi Arabia

    • South Africa

    • Rest of LAMEA





Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2028: USD 10.22 billion
  • 2030 : Significant Value
  •   CAGR   57.41% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Technology, Application and End-Use Industry
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Green Hydrogen Systems (Denmark), Solena Group (US), H2X (Australia), Siemens Gas and Power GmbH & Co. KG (Germany), Engie (France), FuelcellWorks (US), Plug Power (US), Fuelcell Energy (US), Hydrogenics (Canada), Ballard Power Systems (Canada), Nikola Motors (US), Ergosup (France), Loop Energy (Canada) and Syzygy Plasmonics (US)
      Key Market Opportunities   High initial cost of setting up hydrogen infrastructure
      Key Market Drivers

  • Growing demand for renewable energy resources
  • Increasing significantly due to the increasing government investments and subsidies promoting clean fuel usage, including hydrogen


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    Frequently Asked Questions (FAQ) :

    Europe will lead the global green hydrogen market.

    Need to reduce carbon emissions is driving the global green hydrogen market growth.

    High set up cost may limit the global green hydrogen market.

    Key contenders profiled in the global green hydrogen market include Green Hydrogen Systems (Denmark), Solena Group (US), H2X (Australia), Siemens Gas and Power GmbH & Co. KG (Germany), Engie (France), FuelcellWorks (US), Plug Power (US), Fuelcell Energy (US), Hydrogenics (Canada), Ballard Power Systems (Canada), Nikola Motors (US), Ergosup (France), Loop Energy (Canada) and Syzygy Plasmonics (US).

    Green hydrogen - generated via electrolysis driven by renewable electricity.