Green Hydrogen Market to Surpass USD 385 Billion by 2030 on Account of Rising Environmental Imperatives and Innovations in Electrolysis Technology | By SNS Insider


Based on SNS Insider’s analysis, as the convergence of renewable energy, technological innovation, policy support, and industrial demand accelerates, the green hydrogen market is poised to become a pivotal driver of global energy transition.

Pune, Aug. 11, 2023 (GLOBE NEWSWIRE) — The SNS Insider report indicates that “The Green Hydrogen Market achieved a valuation of $156 billion in 2022 and is projected to exhibit substantial growth, reaching $385 billion by 2030. This expansion is anticipated to occur at a CAGR of 11.98% during the forecast span spanning from 2023 to 2030”.

Market Report Scope


Green hydrogen is a revolutionary and sustainable form of energy that holds the promise of addressing some of the most pressing global challenges we face today. Unlike conventional hydrogen production methods, which heavily rely on fossil fuels and release harmful greenhouse gases into the atmosphere, green hydrogen is produced using renewable sources and emits no carbon dioxide or other pollutants. This unique attribute positions it at the forefront of the clean energy transition and makes it a crucial player in the fight against climate change.

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Market Analysis

The global transition towards sustainable energy solutions has ignited a fervent interest in green hydrogen, positioning it as a frontrunner in the race to decarbonize various sectors of the economy. Green hydrogen, produced through electrolysis powered by renewable energy sources, presents an innovative approach to mitigate climate change and reduce reliance on fossil fuels. One of the primary growth drivers for the green hydrogen market is its symbiotic relationship with renewable energy sources. As nations commit to ambitious renewable energy targets, excess renewable energy generated during off-peak hours can be harnessed for electrolysis, thereby enhancing the production of green hydrogen. As the costs of energy sources continue to plummet, the overall cost of generating green hydrogen also decreases, making it more competitive with conventional hydrogen production methods.

Green Hydrogen Market Overview & Scope:

Report Attributes Details
Market Size in 2022 USD 156 billion
Market Size by 2030 USD 385 billion
CAGR CAGR of 11.98% From 2023-2030
Key Segments by Application (Power generations, Transportations, Methanol Production),

by Technology (Alkaline electrolyze, Polymer electrolyte Membrane)

by Distribution channel (Pipeline, cargo)

by End User (Chemical, Power, Medical, automobile)

Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
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Impact of Recession

A recession can indeed present obstacles to the green hydrogen market’s growth, including reduced funding, disrupted supply chains, and diminished consumer demand. However, with strategic policy support, continued research and innovation, and a commitment to sustainability, the green hydrogen sector can weather the storm and emerge as a vital component of a more resilient and environmentally friendly energy landscape.

Impact of Russia-Ukraine War

While the Russia-Ukraine war introduces challenges to the green hydrogen market, it also presents opportunities for adaptation, innovation, and resilience. The market’s response will depend on how governments, industries, and investors navigate the evolving geopolitical landscape while remaining committed to a sustainable and low-carbon energy future.

Key Regional Development

Europe has emerged as a frontrunner in the green hydrogen market, primarily driven by ambitious policy frameworks and robust cross-border collaborations. The European Union’s Green Deal has set the stage for significant investments in green hydrogen infrastructure and research. Asia, with its massive energy demand and rapidly growing economies, sees green hydrogen as a crucial element for achieving energy security and reducing carbon emissions. Countries like Japan and South Korea are strategically investing in research and development, aiming to become key players in the market.

Key Takeaway from Green Hydrogen Market Study

  • As the world pivots towards clean energy alternatives, Power Generation emerges as a pivotal player in the green hydrogen narrative. The seamless integration of renewable sources such as wind, solar, and hydropower with electrolysis technologies holds the promise of generating hydrogen fuel with minimal carbon footprint.
  • At the heart of the green hydrogen revolution lies Alkaline Electrolysis, an ingenious process that deftly splits water molecules into hydrogen and oxygen using an alkaline solution. This segment commands attention for its inherent scalability, cost-effectiveness, and technological maturity.

Recent Developments Related to Green Hydrogen Market

  • In a significant leap towards sustainable energy solutions, Saudi Arabia has unveiled plans to fuel a groundbreaking green hydrogen project utilizing an impressive 2.2 gigawatts (GW) of solar power. This ambitious endeavor underscores the kingdom’s commitment to both renewable energy and reducing its carbon footprint.
  • In a groundbreaking move towards sustainable energy solutions, Larsen & Toubro (L&T) has announced a transformative partnership that is set to propel the global green hydrogen initiative forward. Teaming up with a consortium of innovative partners, L&T is committed to investing a staggering $4 billion into a series of trailblazing green hydrogen projects.

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Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 Impact of Russia- Ukraine War

4.2 Impact of Ongoing Recession

4.2.1 Introduction

4.2.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Green hydrogen Market Segmentation, by Application

8.1    Power generations

8.2    Transportations

8.3    Methanol Production

9. Green hydrogen Market Segmentation, by Technology

9.1    Alkaline electrolyze

9.2    Polymer electrolyte Membrane

10. Green hydrogen Market Segmentation, by Distribution Channel

10.1 Pipeline

10.2 Cargo

11. Green hydrogen Market Segmentation, by End User

11.1 Chemical

11.2 Power

11.3 Medical

11.4 Automobile

11.5 Others

12. Regional Analysis

12.1 Introduction

12.2 North America

12.3 Europe

12.4 Asia-Pacific

12.5 The Middle East & Africa

12.6 Latin America

13. Company Profile

13.1 linde pc

13.1.1 Company Overview

13.1.2 Financials

13.1.3 Product/Services/Offerings

13.1.4 SWOT Analysis

13.1.5 The SNS View

13.2 Engie

13.3 Nel asa

13.4 bloom energy

13.5 air liquid

13.6 Air Products Inc

13.7 Cummins

13.8 Engie

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share analysis

14.3 Recent Developments

14.3.1 Industry News

14.3.2 Company News

14.3.3 Mergers & Acquisitions

15. Use Cases and Best Practices

16. Conclusion

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