The global green hydrogen market was valued at $0.3 billion in 2020, and is projected to reach $9.8 billion by 2028, growing at a CAGR of 54.7% from 2021 to 2028.

Solar and wind energy generate green hydrogen by electrolyzing water molecules to separate hydrogen and oxygen atoms. It is produced without the use of hydrocarbons, resulting in a reduction in carbon emissions. Green hydrogen can eliminate pollution by powering electrolysis of water with renewable energy, which is abundant and can be produced at less-than-ideal times. Green hydrogen currently accounts for around 1% of total hydrogen production; however, considering its lack of cost competitiveness, the green hydrogen market is expected to expand rapidly during the forecast period.
Rise in demand for renewable energy resources is one of the major factors that propels growth of the global green hydrogen market. In addition, increase in government investments and incentives supporting renewable fuel use, such as hydrogen has led to rapid rise in adoption rate of green hydrogen. Governments from different nations are stepping forward to provide investment funding to businesses attempting to commercialize hydrogen-powered vehicles. Since these are capital-intensive investments, government actions are critical to ensure that manufacturers build sufficient hydrogen infrastructure. However, high initial costs of setting up hydrogen infrastructure in many countries around the globe is expected to hamper growth of the global green hydrogen market.
The global green hydrogen market is segmented on the basis of technology, application, end-use industry, and region. By technology, the market is classified into proton exchange membrane electrolyzer, alkaline electrolyzer, and solid oxide electrolyzer. By application, it is segmented into power generation, transport, and others. By end-use industry, it is divided into food & beverages, medical, chemical, petrochemicals, glass, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players operating in the global green hydrogen market are Ballard Power Systems, Enapter, Engie, Green Hydrogen Systems, Hydrogenics, Nikola Motors, Plug Power, SGH2 Energy Global LLC, Shell, and Siemens Gas and Power GmbH & Co. KG.

KEY BENEFITS FOR STAKEHOLDERS
? The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global green hydrogen market from 2020 to 2028 to determine the prevailing opportunities.
? A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
? Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
? Profiles of leading players operating in the market are provided to understand the global competitive scenario.
? The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth
KEY MARKET SEGMENTS
- By Technology
? Proton exchange membrane electrolyzer
? Alkaline electrolyzer
? Solid oxide electrolyzer
- By Application
? Power generation
? Transport
? Others
- By End-use industry
? Food & beverages
? Medical
? Chemical
? Petrochemicals
? Glass
? Others
- By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? Italy
? Spain
? UK
? Rest of Europe
o Asia-Pacific
? China
? Japan
? India
? South Korea
? Rest of Asia-Pacific
o LAMEA
? Brazil
? Saudi Arabia
? South Africa
? Rest of LAMEA

KEY MARKET PLAYERS
- Ballard Power Systems
- Enapter
- Engie
- Green Hydrogen Systems
- Hydrogenics
- Nikola Motors
- Plug Power
- SGH2 Energy Global LLC
- Shell
- Siemens Gas and Power GmbH & Co. KG