Green Hydrogen Market to grow by USD 14,745.04 million from 2022 to 2027 | ACWA Power International, Air Liquide SA and more to emerge as key players - Technavio

NEW YORK, July 17, 2023 /PRNewswire/ -- The green hydrogen market size is estimated to grow by USD 14,745.04 million from 2022 to 2027 at a CAGR of 45.51% according to Technavio. The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including ACWA Power International, Air Liquide SA, Air Products and Chemicals Inc., Ballard Power Systems Inc., Cummins Inc., ERGOSUP, Green Hydrogen Systems, Guangdong Nation Synergy Hydrogen Power Technologies Co Ltd., Indian Oil Corp. Ltd., Jindal Steel and Power Ltd., Linde Plc, Loop Energy Inc., Nel ASA, Nikola Corp., Plug Power Inc., Solena Group, Bloom Energy Corp., Ceres Power Holdings plc, Larsen and Toubro Ltd., and Siemens Energy AG.

Green Hydrogen Market Insights -

• Vendors: 15+, Including ACWA Power International, Air Liquide SA, Air Products and Chemicals Inc., Ballard Power Systems Inc., Cummins Inc., ERGOSUP, Green Hydrogen Systems, Guangdong Nation Synergy Hydrogen Power Technologies Co Ltd., Indian Oil Corp. Ltd., Jindal Steel and Power Ltd., Linde Plc, Loop Energy Inc., Nel ASA, Nikola Corp., Plug Power Inc., Solena Group, Bloom Energy Corp., Ceres Power Holdings plc, Larsen and Toubro Ltd., and Siemens Energy AG, among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: End-user (Chemical, Power, Industrial, and Mobility and others), Technology (Alkaline electrolyzer and Polymer electrolyte membrane (PEM) electrolyzer), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

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Green hydrogen market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

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Key Green Hydrogen Market Driver- The growing adoption of clean fuel is the major factor driving the market growth. The formation of green hydrogen involves an electrochemical reaction that efficiently separates oxygen and hydrogen. This process is highly reliable and boasts high output efficiency. The production of green hydrogen is considered clean and environmentally friendly because it relies on renewable energy sources like solar and wind power for the electrolysis process. The zero-emission nature of green hydrogen makes it a favorable alternative to fossil fuels such as coal and natural gas, leading to its increased adoption and driving market growth. Generally, renewable power plants are located at distant locations from the end-users. In such cases, if the generated power is used for electrolysis to produce green hydrogen, the transportation would have been commoditized and unconstrained by grid connection, which is similar to LNG. Therefore, due to the growing demand for green hydrogen, the rising shift toward integrating hydrogen electrolysers with renewables is expected to continue to drive market growth during the forecast period.

Significant Green Hydrogen Market Trends- The increasing support given by the European governments is an emerging trend shaping market growth. 

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The green hydrogen market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this Green Hydrogen Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the green hydrogen market between 2023 and 2027
• Precise estimation of the green hydrogen market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the green hydrogen market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of green hydrogen market vendors

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Related Reports: 

The hydrogen generation market is estimated to grow at a CAGR of 5.58% between 2022 and 2027. The size of the market is forecast to increase by USD 47.84 billion. This report extensively covers market segmentation by delivery mode (merchant and captive), application (chemical industry, refinery industry, metal processing industry, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The growing demand for fertilizers is notably driving market growth.

The hydrogen fueling stations market share is expected to increase to USD 1.61 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 31.4%. This report extensively covers hydrogen fueling station market segmentation by type (small station, medium station, and large station) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The rising adoption of low-carbon technologies is one of the key drivers fueling the hydrogen fueling stations market growth. 

Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global green hydrogen market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global green hydrogen market 2017 - 2021 ($ million)

• 4.2 End user Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – End user Segment 2017 - 2021 ($ million)

• 4.3 Technology Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Technology Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Chemical - Market size and forecast 2022-2027
• Exhibit 34: Chart on Chemical - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Chemical - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Chemical - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Chemical - Year-over-year growth 2022-2027 (%)

• 6.4 Power - Market size and forecast 2022-2027
• Exhibit 38: Chart on Power - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Power - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Power - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Power - Year-over-year growth 2022-2027 (%)

• 6.5 Industrial - Market size and forecast 2022-2027
• Exhibit 42: Chart on Industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Industrial - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Industrial - Year-over-year growth 2022-2027 (%)

• 6.6 Mobility and others - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Mobility and others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Mobility and others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Mobility and others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Mobility and others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by End-user 
• Exhibit 50: Market opportunity by End-user ($ million)
• Exhibit 51: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Technology

• 7.1 Market segments 
• Exhibit 52: Chart on Technology - Market share 2022-2027 (%)
• Exhibit 53: Data Table on Technology - Market share 2022-2027 (%)

• 7.2 Comparison by Technology 
• Exhibit 54: Chart on Comparison by Technology
• Exhibit 55: Data Table on Comparison by Technology

• 7.3 Alkaline electrolyzer - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Alkaline electrolyzer - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Alkaline electrolyzer - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Alkaline electrolyzer - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Alkaline electrolyzer - Year-over-year growth 2022-2027 (%)

• 7.4 Polymer electrolyte membrane (PEM) electrolyzer - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Polymer electrolyte membrane (PEM) electrolyzer - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Polymer electrolyte membrane (PEM) electrolyzer - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Polymer electrolyte membrane (PEM) electrolyzer - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Polymer electrolyte membrane (PEM) electrolyzer - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Technology 
• Exhibit 64: Market opportunity by Technology ($ million)
• Exhibit 65: Data Table on Market opportunity by Technology ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 79: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 87: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 US - Market size and forecast 2022-2027
• Exhibit 99: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027
• Exhibit 107: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography ($ million)
• Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 ACWA Power International 
• Exhibit 119: ACWA Power International - Overview
• Exhibit 120: ACWA Power International - Product / Service
• Exhibit 121: ACWA Power International - Key offerings

• 12.4 Air Liquide SA 
• Exhibit 122: Air Liquide SA - Overview
• Exhibit 123: Air Liquide SA - Business segments
• Exhibit 124: Air Liquide SA - Key news
• Exhibit 125: Air Liquide SA - Key offerings
• Exhibit 126: Air Liquide SA - Segment focus

• 12.5 Air Products and Chemicals Inc. 
• Exhibit 127: Air Products and Chemicals Inc. - Overview
• Exhibit 128: Air Products and Chemicals Inc. - Business segments
• Exhibit 129: Air Products and Chemicals Inc. - Key news
• Exhibit 130: Air Products and Chemicals Inc. - Key offerings
• Exhibit 131: Air Products and Chemicals Inc. - Segment focus

• 12.6 Cummins Inc. 
• Exhibit 132: Cummins Inc. - Overview
• Exhibit 133: Cummins Inc. - Business segments
• Exhibit 134: Cummins Inc. - Key offerings
• Exhibit 135: Cummins Inc. - Segment focus

• 12.7 ERGOSUP 
• Exhibit 136: ERGOSUP - Overview
• Exhibit 137: ERGOSUP - Product / Service
• Exhibit 138: ERGOSUP - Key offerings

• 12.8 Green Hydrogen Systems 
• Exhibit 139: Green Hydrogen Systems - Overview
• Exhibit 140: Green Hydrogen Systems - Product / Service
• Exhibit 141: Green Hydrogen Systems - Key offerings

• 12.9 Guangdong Nation Synergy Hydrogen Power Technologies Co Ltd. 
• Exhibit 142: Guangdong Nation Synergy Hydrogen Power Technologies Co Ltd. - Overview
• Exhibit 143: Guangdong Nation Synergy Hydrogen Power Technologies Co Ltd. - Product / Service
• Exhibit 144: Guangdong Nation Synergy Hydrogen Power Technologies Co Ltd. - Key offerings

• 12.10 Indian Oil Corp. Ltd. 
• Exhibit 145: Indian Oil Corp. Ltd. - Overview
• Exhibit 146: Indian Oil Corp. Ltd. - Business segments
• Exhibit 147: Indian Oil Corp. Ltd. - Key offerings
• Exhibit 148: Indian Oil Corp. Ltd. - Segment focus

• 12.11 Jindal Steel and Power Ltd. 
• Exhibit 149: Jindal Steel and Power Ltd. - Overview
• Exhibit 150: Jindal Steel and Power Ltd. - Business segments
• Exhibit 151: Jindal Steel and Power Ltd. - Key offerings
• Exhibit 152: Jindal Steel and Power Ltd. - Segment focus

• 12.12 Larsen and Toubro Ltd. 
• Exhibit 153: Larsen and Toubro Ltd. - Overview
• Exhibit 154: Larsen and Toubro Ltd. - Business segments
• Exhibit 155: Larsen and Toubro Ltd. - Key news
• Exhibit 156: Larsen and Toubro Ltd. - Key offerings
• Exhibit 157: Larsen and Toubro Ltd. - Segment focus

• 12.13 Linde Plc 
• Exhibit 158: Linde Plc - Overview
• Exhibit 159: Linde Plc - Business segments
• Exhibit 160: Linde Plc - Key news
• Exhibit 161: Linde Plc - Key offerings
• Exhibit 162: Linde Plc - Segment focus

• 12.14 Loop Energy Inc. 
• Exhibit 163: Loop Energy Inc. - Overview
• Exhibit 164: Loop Energy Inc. - Product / Service
• Exhibit 165: Loop Energy Inc. - Key offerings

• 12.15 Plug Power Inc. 
• Exhibit 166: Plug Power Inc. - Overview
• Exhibit 167: Plug Power Inc. - Product / Service
• Exhibit 168: Plug Power Inc. - Key offerings

• 12.16 Siemens Energy AG 
• Exhibit 169: Siemens Energy AG - Overview
• Exhibit 170: Siemens Energy AG - Business segments
• Exhibit 171: Siemens Energy AG - Key news
• Exhibit 172: Siemens Energy AG - Key offerings
• Exhibit 173: Siemens Energy AG - Segment focus

• 12.17 Solena Group 
• Exhibit 174: Solena Group - Overview
• Exhibit 175: Solena Group - Product / Service
• Exhibit 176: Solena Group - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 177: Inclusions checklist
• Exhibit 178: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 179: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 180: Research methodology
• Exhibit 181: Validation techniques employed for market sizing
• Exhibit 182: Information sources

• 13.5 List of abbreviations 
• Exhibit 183: List of abbreviations

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