Green Hydrogen Market: Driving Rapid Expansion with Promising CAGR of 20.9% During 2024-2031

The Global Green Hydrogen Market is expected to reach at a CAGR of 20.9% during the forecast period (2024-2031). Green hydrogen is universal, light, highly reactive, and has the potential to significantly lower greenhouse gas emissions.

The Green Hydrogen market report provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Leveraging a combination of qualitative and quantitative research methods, the company offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Hydrogen that is produced through electrolysis of water using renewable energy sources, such as wind, solar, or hydropower. It is considered environmentally friendly because it produces no carbon emissions during production, making it a key element in decarbonizing sectors like transportation and industry.

Forecast Growth Projected:

The Global Green Hydrogen Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the Green Hydrogen Market:

Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, Linde AG, Air Liquide, Nel ASA, Cummins Inc., Air Products Inc, H&R GROUP, Nation Synergy Hydrogen, and Hamburg.

Industry Development:

■ In January 2025, Norwegian Hydrogen acquired Aker Horizons' hydrogen project in Rjukan, taking over a long-term power purchase agreement with Tinn Energi. This ensures the project's access to renewable energy, providing a strong foundation for delivering competitive hydrogen to the market.

■ In December 2024, Cordiant Capital acquired HydrogenOne Capital LLP, an alternative investment firm specializing in hydrogen assets. This strategic move positions Cordiant Capital to capitalize on immediate opportunities in the clean hydrogen sector, contributing to the energy transition.

Research Methodology:

Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter's Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.

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Market Dynamics:

The green hydrogen market is rapidly growing due to increasing global efforts to decarbonize industries, particularly in hard-to-abate sectors like heavy industry, transportation, and energy production. Green hydrogen is produced using renewable energy sources through electrolysis, providing a clean alternative to fossil fuels. With falling renewable energy costs, technological advancements in electrolyzers, and strong government policies supporting green hydrogen adoption, the market is gaining momentum. Green hydrogen is seen as essential for achieving long-term carbon neutrality goals and is expected to play a significant role in energy systems transitioning toward sustainability. Investments in infrastructure, such as hydrogen production facilities and storage systems, along with international collaborations, are further accelerating the growth of the green hydrogen market.

Segment Covered in the Green Hydrogen Market:

➡ By Technology (Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer, Others)
➡ By Renewable Sources (Wind Energy, Solar Energy, Geothermal, Hydropower, Others)
➡ By Application (Power Generation, Transport, Others)
➡ By End-User (Industrial, Mobility, Chemical, Power, Grid Injection, Others)

This Report Covers:

✔ Go-to-market Strategy.
✔ Neutral perspective on the market performance.
✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.
✔Customized regional/country reports as per request and country level analysis.
✔ Potential & niche segments and regions exhibiting promising growth covered.
✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Regional Analysis for Green Hydrogen Market:

⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Green Hydrogen market?
➠ Who are the global key manufacturers of the Green Hydrogen Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?
➠ What are the Green Hydrogen market opportunities and threats faced by the vendors in the global Green Hydrogen Industry?
➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
➠ What focused approach and constraints are holding the Green Hydrogen market?
➠ What are the different sales, marketing, and distribution channels in the global industry?

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