Global Green Hydrogen Market

Green Hydrogen Market Size, Share, Growth Analysis, By Technology (Alkaline Electrolysis, PEM Electrolysis), By Source, By End-use, By Region -Industry Forecast 2025-2032

Report ID: SQMIG15E2552 | Region: Global | Published Date: December, 2024
Pages: 162 | Tables: 90 | Figures: 69

Green Hydrogen Market News

  • In October 2024, Lhyfe, a renowned provider of renewable hydrogen based in France announced the start of construction of its new production facility in the Auvergne-Rhône-Alpes region. When fully operational, the facility is forecasted to produce around 4 tons of renewable hydrogen per day.
  • In October 2024, Shuangliang Group, a Chinese company focused on developing eco-friendly solutions announced the launch of the world’s largest alkaline water electrolyzer. The 5000Nm³/h system was unveiled at Shuangliang’s innovation conference as it set a new global standard for green hydrogen production efficiency and takes clean energy to a whole new level.
  • In October 2024, an MoU (memorandum of understanding) was signed between to two key green hydrogen companies in India to explore the possibility of green hydrogen production in Gujrat, India. RBM Infracon and Greenzo Energy were the two companies planning to set up green hydrogen production in Gujrat with an investment of around INR 200 crore.
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FAQs

Global Green Hydrogen Market size was valued at USD 6.23 Billion in 2022 and is poised to grow from USD 8.69 Billion in 2023 to USD 89.31 Billion by 2031, growing at a CAGR of 39.5% during the forecast period (2024-2031). 

Investing in the development of green hydrogen production and transportation infrastructure is projected to be the top priority of all market players in the future. Collaborations and partnerships will be essential strategies for green hydrogen companies looking to enhance their market presence on a global level. Investing in the development of a new carbon-neutral way to produce green hydrogen will be a major market trend for green hydrogen companies to focus on going forward. 'Air Liquide ', 'Air Products Inc. ', 'Bloom Energy ', 'Cummins Inc. ', 'Engie ', 'Linde plc. ', 'Nel ASA ', 'Siemens Energy ', 'Toshiba Energy Systems & Solutions Corporation ', 'Uniper SE ', 'H&r ölwerke schindler gmbh ', 'Wind to gas energy gmbh & co. Kg ', 'Sino-synergy hydrogen energy technology (jiaxing) co., ltd ', 'Iberdrola s.a ', 'Enel green power s.p.a ', 'Envision digital ', 'Hynamics (edf) ', 'Acwa power ', 'Green hydrogen systems ', 'The state atomic energy corporation rosatom '

Growing demand for eco-friendly production of hydrogen around the world to promote sustainability has led to significant advancements in electrolysis technologies. Innovations like proton exchange membrane (PEM) and solid oxide electrolysis cells (SOECs) are making green hydrogen production more efficient and scalable thereby promoting the green hydrogen industry growth as well.

Green Hydrogen Blending: Green hydrogen companies are expected to focus on blending green hydrogen with natural gas to reduce its carbon footprint and heating intensity. This trend will allow green hydrogen companies to expand their business scope with current infrastructure and also give them time to develop infrastructure for green hydrogen alone. Hydrogen blending offers a transitional solution as green hydrogen production scales up, allowing the existing gas infrastructure to be utilized while reducing greenhouse gas emissions.

Europe is forecasted to account for a prominent share of the global green hydrogen demand outlook. High emphasis on sustainability, supportive government initiatives to promote hydrogen production, and growing awareness among consumers in this region are allowing it to spearhead global green hydrogen market outlook. Imposition of stringent mandates to curb emissions and growing use of clean and renewable energy are expected to bolster the demand for green hydrogen in Europe going forward. Sweden, Germany, France, and the United Kingdom are estimated to be key markets for green hydrogen companies looking to make a mark in the European region through 2031.

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Global Green Hydrogen Market

Report ID: SQMIG15E2552

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