Global Green Hydrogen Market by Technology (Alkaline Electrolyzer, Polymer Electrolyte Membrane Electrolyzer, Others); by End-use (Automotive, Chemicals, Power Generation, Others); and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa); - Global Forecasts 2021 to 2027

Date: Sep 2021 Report Id: 108 Category: Clean and Renewable Energy Report Format: pdf-img excel-img ppt-img word-img

The Global Green Hydrogen Market was valued at USD 810.3 Mn in 2020 and is expected to reach USD 2680.4 Mn by 2027, with a growing CAGR of 16.6% during the forecast period.

The Global Green Hydrogen Market Definition:

Green hydrogen is made by splitting water into hydrogen and oxygen in an electrolyzer driven by renewable energy sources like wind and sun. A stronger electrical current pushed through a tank of water breaks the molecule into its two basic components, which is a more environmentally friendly method of obtaining hydrogen. This process is known as electrolysis, and it produces green hydrogen using renewable energy.

Green Hydrogen Market

The Global Green Hydrogen Market Dynamics:

The green hydrogen market is gaining fast pace primarily due to the implementation of favorable government regulations encouraging the usage of green and clean energy sources. For instance, in July 2021, the US Department of Energy announced a USD 52.5 million in funding for 31 projects that will utilize next-generation clean hydrogen technologies and support the recently announced hydrogen energy earth shot initiative, which aims to lower costs and speed up breakthroughs in the clean hydrogen sector.

Additionally, hydrogen generated by renewable-powered electrolysis is utilized as a fuel in cars or saved for later use in fuel cells to generate energy. The use of hydrogen in cars is anticipated to drive the green hydrogen industry demand during the forecast period. Furthermore, some major countries, such as Germany, Japan, and the United States, are considering using hydrogen as a transportation fuel instead of traditional fossil fuels, thus this is considerably a boosting factor of the green hydrogen market growth.

The Global Green Hydrogen Market Segmentation:

By Technology

  • Alkaline Electrolyzer
  • Polymer Electrolyte Membrane Electrolyzer
  • Others

By End-use

  • Automotive
  • Chemicals
  • Power Generation
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

The unique insights provided by this report also include the following:

  • In-Depth Value Chain Analysis
  • Market Opportunity Mapping
  • Sector Snapshot
  • Key Players Positioning Matrix
  • Regulatory Scenario
  • Strategies Adopted-Benchmarking Heat Map
  • Market Trends
  • Covid-19 Impact Analysis
  • Product Comparison
  • Pre & Post Covid 19 Impact on Green Hydrogen Market
  • Competitive Landscape

Based on technology, the alkaline electrolyzer segment accounted for the largest market share due to its low cost as compared to other processes

The technique for producing alkaline water hydrogen is well-developed, and the cost of production is inexpensive. Additionally, with an operational temperature range of 100 - 105 degrees celsius, alkaline electrolyzers generate lower power and current densities than PEM electrolyzers with operating temperatures of 70 - 90 degrees celsius. The electrolyte of an alkaline electrolyzer is a liquid alkaline solution of potassium or sodium hydroxide, and it has a longer running time than PEM electrolyzers. Therefore, low cost of alkaline electrolyzer is anticipated to increase the demand for green hydrogen in the near future. However, this technique has drawbacks such as sluggish startup, corrosion, difficult maintenance, of electrolyzer that may hinder the market growth.

Based on end-user segment, automotive segment accounted for the largest market share in the overall green hydrogen market as it is a form of green energy, these vehicles shall be classified as non-emission vehicles

One of the most common uses for green hydrogen is to power fuel-cell cars. However, as the automotive market shifts away from internal combustion engines and toward more cost-competitive battery-powered vehicles, However, it remains to see whether fuel-cell vehicles would gain green hydrogen market attraction. For instance, laws implemented in the California state are anticipated to support the market growth. Additionally, for qualifying used ZEVs, the California Air Resources Board (ARB) is expected to establish the Zero Emission Assurance Project (ZAP) till 2024. This project is aimed to provide funds for the replacement of a battery, fuel cell. There will be a maximum of one rebate per car. ARB shall provide a report to the legislature by January 1, 2024, outlining the number of rebates granted, the ZAP's emissions benefits, and the ZAP's influence on low-income consumers' decisions to purchase zero and near-zero emissions cars.

Based on regions, the green hydrogen market in Europe accounted for the largest market share in 2020 owing to extensive technological advancements

Geographically, Europe is estimated to dominate the green hydrogen market growth during the forecast period. Europe has made significant investments in green hydrogen projects. The European Hydrogen Backbone project is working to build almost 40,000 kilometers of dedicated hydrogen pipeline across. The EU is dedicated to expanding the percentage of renewables in its energy mix, and this commitment is reflected in a steadily increasing amount of renewable energy. Furthermore, green hydrogen price is projected to decrease in the upcoming years. In this perspective, the hydrogen strategy examines the potential for renewable hydrogen to aid in the cost-effective decarbonization of the EU economy, however, which will be essential in the recovery from the COVID-19 phase. Thus, the hydrogen strategy includes a plan to construct at least 6 GW of renewable hydrogen electrolyzers in Europe by 2024 and 40 GW by 2030. This investment is anticipated to drive the green hydrogen market growth in this region.

The report also provides an in-depth analysis of green hydrogen market dynamics such as drivers, restraints opportunities and challenges


  • Low electricity costs for variable renewable energy
  • Increasing governmental initiatives in the application of renewable energy
  • Favorable government regulations


  • Loss of energy during production and the use of green hydrogen
  • Limited availability of dedicated facilities
  • High capital costs


  • Governmental norms for zero emission systems
  • Rising demand for green hydrogen in various end-use industries

Note: Challenges along with in-depth market dynamics analysis is mentioned in the report.

COVID-19 Impact on the Green Hydrogen Market Analysis

The market remained static because of COVID-19. Many European and Asian governments have announced new initiatives and feasibility studies including various technologies such as carbon reduction. For instance, The EU hydrogen plan was established on July 8, 2020. This plan will look at how clean hydrogen may help cut carbon emissions in the EU economy and make it climate-neutral by 2050. The main effect of COVID-19 on the market was that it caused delays in projects since raw material supply were interrupted due to lockdowns. Therefore, the market was at a stagnant position during the pandemic.

The report also provides in-depth analysis of key trends in green hydrogen market

  • The use of green hydrogen in industries that are more difficult to decarbonize might lead to a re-regulation of power generation markets
  • Producing hydrogen during periods of high wind/solar availability would allow for a reduction in renewables curtailment and make H2 accessible during times of high-power demand, especially if the availability of renewables is abnormally low

The report also provides in-depth analysis of recent news developments and investments

  • In September 2021, The Indian Union government recently suggested a revolutionary set of "Draft Electricity Rules, 2021" to promote renewable energy via Green Energy Open Access. This measure will encourage the acquisition of renewable energy sources such as green hydrogen and waste-to-energy facilities.
  • In August 2021, Linde disclosed that it has struck a long-term deal with Infineon Technologies to produce and store high-purity green hydrogen on-site, as well as provide additional industrial gases. Green hydrogen will be used for the first time in Infineon's semiconductor production process.

Company Profiles and Competitive Intelligence

The key players operating in the green hydrogen market are:

  • Green Hydrogen Systems
  • FuelCell Energy
  • Hydrogenics
  • Ballard Power Systems
  • Nikola Motors
  • Ergosup
  • Loop Energy
  • Syzygy Plasmonics
  • Solena Group
  • H2X
  • Siemens Gas and Power GmbH & Co. KG
  • Engie
  • FuelcellWorks
  • Plug Power
  • Toshiba Energy Systems & Solutions Corp
  • Linde
  • Air Liquide
  • Air Products and Chemicals, Inc.
  • Nel ASA
  • ITM Power
  • Bloom Energy

Frequently Asked Questions (FAQs)

Yes, the report contains detailed COVID-19 analysis for green hydrogen market.
A few key players include, but not limited to: Green Hydrogen Systems, Fuelcell Energy, Hydrogenics, Ballard Power Systems, Nikola Motors, Ergosup, Loop Energy, Syzygy Plasmonics, Solena Group, H2X, Siemens Gas and Power GmbH & Co. KG, Engie, FuelcellWorks, Plug Power, and Toshiba Energy Systems & Solutions Corp.
In the base year 2020, Europe accounted for largest market share in the green hydrogen market.
The green hydrogen market is estimated to grow at a compound annual growth rate (CAGR) of 16.6% during the forecast period.
The global Green Hydrogen market was valued at USD 810.33 Mn in 2020 and is anticipated to reach USD 2680.47 Mn by 2027.
Author Credentials

Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.

  1. Introduction
    1. Product Outline
    2. Green Hydrogen Overview
    3. Different Types of Green Hydrogen 
    4. Analysis Of Green Hydrogen Ecosystem
    5. Supply Chain Analysis
    6. Covid -19 Impact
    7. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    8. Technology Overview
  2. Technology and Regulatory Landscape for Green Hydrogen    
    1. Regulations and Standards
  3. Green Hydrogen Market Pricing Analysis
    1. Prices of Green Hydrogen   
  4. Green Hydrogen Market by Technology
    1. Alkaline Electrolyzer
    2. Polymer Electrolyte Membrane Electrolyzer
    3. Others
  5. Green Hydrogen Market by End-Use
    1. Automotive
    2. Chemicals
    3. Power Generation
    4. Others
  6. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Norway
      5. Italy
      6. Spain
      7. Netherlands
      8. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. New Zealand
      6. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  7. Key Strategic Insights
    1. New Raw Material Sources
    2. New Applications
    3. Emerging Technologies
    4. Opportunity mapping
    5. Critical Success Factors
    6. Environmental Impact and sustainability issues
    7. Consumer preferences
  8. Key Market Trends / Recent Developments
  9. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Ranking of Key Players
    4. Presence of players by Geographies
  10. Key Global Players
    1. Green Hydrogen Systems
    2. Fuel Cell Energy
    3. , Hydrogenics
    4.  Ballard Power Systems
    5.  Nikola Motors
    6.  Ergosup
    7.  Loop Energy
    8.  Syzygy Plasmonics
    9.  Solena Group
    10. , H2X
    11. Siemens Gas and Power GmbH & Co. KG
    12.  Engie
    13.  FuelcellWorks
    14.  Plug Power
    15. Toshiba Energy Systems & Solutions Corp

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