Green Hydrogen Market Is Anticipated to Reach Around USD 2,846.52 Million in 2028 – Credence Research

The revenue generated by the global Green Hydrogen market in 2021 was over USD 941.16 million and expected to generate revenue worth USD 2,846.52 million in 2028

The Global Green Hydrogen Market generated revenue of around USD 941.16 million in 2021 and is anticipated to grow a CAGR of over 16.66% during the forecast period from 2021 to 2028 to reach around USD 2,846.52 million in 2028. While, cumulative growth opportunity presented by the global Green Hydrogen market is around USD 13.38 billion during 2022 to 2028.

Global Green Hydrogen Market, 2021 – 2028 (USD Million)

Green hydrogen is similar to hydrogen generated using traditional production resources. Major production resources used in green hydrogen are renewables and possess low or no carbon potential. Green hydrogen production is gaining traction owing to rapidly depleting fossil fuel and rapid evolution of technology to generate green hydrogen. Rising investment in construction of new facilities for the green hydrogen generation backed by the favorable government policies across the world is driving the growth of green hydrogen industry. Green hydrogen is one of the most important aspect of efforts being taken by various government to achieve decarbonization.

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Proton Exchange Membrane (PEM) to Held the Considerable Share

Alkaline Electrolysis, Biomass Gasification and Proton Exchange Membrane (PEM) Electrolysis are major technologies deployed in the green hydrogen generation. Proton Exchange Membrane held over 30% share in green hydrogen generation in 2021. While, biomass gasification is likely to grow in its market at rapid pace over the forecast period.

Water Sources to Grow at Rapid Pace

Solar Resources, Water Resources, Wind Resources and Biomass Resources  are major production sources of the Green Hydrogen industry. Water sources held the significant share in hydrogen generation in 2021. It accounted for over 25% share in 2021. While, biomass is expected exhibit highest CAGR over the forecast period.

Chemical & Transport to Hold Largest Share

Medical, Chemical, Petrochemicals, Transport and Others are some of the major end-users of Green Hydrogen. Chemicals and transportation segment is leading the demand for Green Hydrogen followed by medical and petrochemicals. Transportation application is rising in its share for the green hydrogen demand owing increasing adoption of hydrogen as a fuel around the world.

U.S. is Leading Green Hydrogen Demand

Asia Pacific is leading the demand for green hydrogen generation with Australia, China, South Korea, Japan and Singapore being at the forefront of green hydrogen revolution. Lack of fossil fuel sources and growing energy need is driving demand for hydrogen in the region. While, U.S., Russia and Europe are likely to grow at a CAGR less than Asia Pacific.

Major players operating in the global Green Hydrogen  market include AIR LIQUIDE, Ballard Power Systems, Cummins Inc., Engie, Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd., Linde, Plug Power Inc., Royal Dutch Shell PLC, SGH2 Energy Global LLC and Siemens. Global Green Hydrogen market is characterized by the presence of large number of manufacturers across the world.

Market Segmentation

Global Green Hydrogen Market by Technology, 2016 – 2028

Alkaline Electrolysis
Biomass Gasification
Proton Exchange Membrane (PEM) Electrolysis

Global Green Hydrogen Market by Resource, 2016 – 2028

Solar Resources
Water Resources
Wind Resources
Biomass Resources

Global Green Hydrogen Market by Application, 2016 – 2028


Global Green Hydrogen Market by Company, 2016 – 2028

Ballard Power Systems
Cummins Inc.
Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd.
Plug Power Inc.
Royal Dutch Shell PLC
SGH2 Energy Global LLC

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Related Reports:

Hydrogen Generation Market – Growth, Share, Opportunities & Competitive Analysis, 2019 -2027

Hydrogen Energy Storage Market- Growth, Share, Opportunities & Competitive Analysis, 2019 -2027

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