Summary

The green hydrogen market is projected to grow from USD 444 million in 2021 to USD 4,373 million by 2026, at a CAGR of 58.0% during the forecasted period. The market is driven by factors like the lowering cost of producing renewable energy by all sources, development of electrolysis technologies and high demand from FCEVs and power industry. Green hydrogen are used in different industries such as mobility, chemical, power, grid injection, industrial, and others. Green hydrogen is on its way to replace conventional gray, brown, and blue hydrogen due to its zero-emission manufacturing process and is cost-competitive due to technological advancements. Green hydrogen offers a sustainable substitute to fossil fuels to the various end-use industries.
‘‘Alkaline electrolysis based green hydrogen accounted for the largest share, in terms of volume, of the overall green hydrogen market.’’
In terms of volume, the alkaline electrolysis-based green hydrogen segment accounted for the largest share of 70% of the overall green hydrogen market in 2020. Alkaline electrolysis technology is the most widely preferred technology in the production of green hydrogen across the world. Alkaline electrolysis utilizes two electrodes lowered in a basic electrolyte solution (such as sodium or potassium hydroxide), isolated by a non-conductive permeable membrane known as a diaphragm. As compared to PEM electrolysis, alkaline electrolysis tends to produce highly pure green hydrogen as hydrogen ions do not diffuse easily into an electrolyte solution and therefore it is more highly used.

” The green hydrogen market in the mobility industry is expected to register the highest CAGR between 2021 and 2026.’’
Mobility is the largest end-use industry of green hydrogen. Green hydrogen used in the mobility industry includes vehicles used in road/off-road transportation, rail, maritime, or aviation. The mobility end-use industry accounted for the largest share by value of the green hydrogen market. This is because hydrogen offers three times more energy per unit than fossil fuels. Before the commercialization of fuel-cell-based engines, the mobility industry had no other sustainable alternatives to fossil fuels. Fuel Cell Electric Vehicles (FCEV) offer a sustainable alternative. Green hydrogen is a viable and practical substitute for the automotive industry. Green hydrogen-based vehicles are optimal for mining vehicles, trains, aircraft, lorries, buses, and even maritime transport. It is the best medium to achieve zero carbon footprint stipulated by advanced countries.

” The green hydrogen market in Europe is projected to register the highest CAGR, in terms of value and volume, between 2021 and 2026.”
Europe dominated the global green hydrogen market. The region has the presence of many manufacturers of green hydrogen and their products. Germany accounted for a major share of the global green hydrogen market and is expected to register significant growth during the forecast period. The growth of the green hydrogen market in this region is mainly driven by the growing mobility and power industry.

Breakdown of Profiles of Primary Interviews:

• By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
• By Designation- C Level- 50%, Director Level- 30%, and Others- 20%
• By Region- North America- 15%, Europe- 50%, Asia Pacific (APAC) - 20%, Latin America-5%, Middle East & Africa (MEA)-10%
The green hydrogen market comprises major solution providers such as Siemens Energy AG (Germany), Toshiba Energy Systems & Solutions Corporation (Japan), Nel ASA (Norway), Linde (Ireland), Cummins Inc. (US), H&R Ölwerke Schindler GmbH (Germany), Wind to Gas Energy GmbH & Co. KG (Germany), Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd. (China), Air Liquide (France), and Air Products and Chemicals, Inc. (US). The study includes an in-depth competitive analysis of these key players in the green hydrogen market, with their company profiles, recent developments, and key market strategies.
The report provides a comprehensive analysis of company profiles listed below:
• Toshiba Energy Systems & Solutions Corporation (Japan)
• Siemens Energy AG (Germany)
• Linde (Ireland)
• Air Liquide (France)
• H&R Ölwerke Schindler GmbH (Germany)
• Nel ASA (Norway)
• Cummins Inc. (US)
• Wind to Gas Energy GmbH & Co. KG (Germany)
• Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd. (China)
• Air Products and Chemicals, Inc. (US)

Research Coverage
This report covers the global green hydrogen market and forecasts the market size until 2026. It includes the following market segmentation-By Technology (Alkaline Electrolysis and PEM Electrolysis), By Renewable source (Wind Energy, Solar Energy and Others), By End-Use Industries (Mobility, Chemical, Power, Grid Injection, Industrial and Others) and Region (North America, Europe, APAC, MEA, Latin America) - Global Forecast to 2026. Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global green hydrogen market.





Key Benefits of Buying the Report
The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report segments the global green hydrogen market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the green hydrogen market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, expansion, and acquisition.



Reasons to buy the report:

The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall green hydrogen market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

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Table of Contents

1 INTRODUCTION 24
1.1 OBJECTIVES OF THE STUDY 24
1.2 MARKET DEFINITION 24
1.3 INCLUSIONS & EXCLUSIONS 25
1.4 MARKET SCOPE 25
FIGURE 1 GREEN HYDROGEN MARKET SEGMENTATION 25
1.4.1 REGIONS COVERED 26
1.4.2 YEARS CONSIDERED 26
1.5 CURRENCY 26
1.6 UNIT CONSIDERED 27
1.7 LIMITATIONS 27
1.8 STAKEHOLDERS 27
2 RESEARCH METHODOLOGY 28
2.1 BASE NUMBER CALCULATION 28
2.1.1 SUPPLY-SIDE APPROACH 1 28
2.1.2 SUPPLY-SIDE APPROACH 2 28
2.1.3 DEMAND-SIDE APPROACH 28
2.2 FORECAST NUMBER CALCULATION 29
2.3 RESEARCH DATA 30
2.3.1 SECONDARY DATA 30
2.3.2 PRIMARY DATA 30
2.3.2.1 Primary interviews – Top green hydrogen manufacturers 30
2.3.2.2 Breakdown of primary interviews 31
2.3.2.3 Key industry insights 31
2.4 MARKET SIZE ESTIMATION 32
2.4.1 BOTTOM-UP APPROACH 32
FIGURE 2 GREEN HYDROGEN MARKET: BOTTOM-UP APPROACH 32
2.4.2 TOP-DOWN APPROACH 32
FIGURE 3 GREEN HYDROGEN MARKET: TOP-DOWN APPROACH 33
2.5 DATA TRIANGULATION 33
FIGURE 4 GREEN HYDROGEN MARKET: DATA TRIANGULATION 34
2.6 FACTOR ANALYSIS 34
2.7 ASSUMPTIONS 35
2.8 LIMITATIONS & RISKS 35

3 EXECUTIVE SUMMARY 36
FIGURE 5 WIND ENERGY-BASED GREEN HYDROGEN LED MARKET IN 2020 37
FIGURE 6 ALKALINE ELECTROLYSIS LED GREEN HYDROGEN MARKET 37
FIGURE 7 MOBILITY END-USE INDUSTRY TO REGISTER HIGHEST CAGR IN GREEN HYDROGEN MARKET 38
FIGURE 8 EUROPE DOMINATED GREEN HYDROGEN MARKET 38
4 PREMIUM INSIGHTS 40
4.1 GREEN HYDROGEN MARKET SIZE BY 2026, BY VOLUME 40
FIGURE 9 SIGNIFICANT GROWTH EXPECTED IN GREEN HYDROGEN MARKET BETWEEN 2021 AND 2026 40
4.2 GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE AND REGION 40
FIGURE 10 WIND ENERGY RENEWABLE SOURCE TO DRIVE GREEN HYDROGEN MARKET BETWEEN 2021 AND 2026 40
4.3 GREEN HYDROGEN MARKET SHARE, BY RESIN TYPE 41
FIGURE 11 ALKALINE ELECTROLYSIS TECHNOLOGY ACCOUNTED FOR LARGEST SHARE IN GREEN HYDROGEN MARKET 41
4.4 GREEN HYDROGEN MARKET, BY END-USE INDUSTRY, 2021 VS. 2026 41
FIGURE 12 MOBILITY INDUSTRY TO DOMINATE GREEN HYDROGEN MARKET 41
4.5 GREEN HYDROGEN MARKET GROWTH, BY COUNTRY 42
FIGURE 13 GERMANY TO BE FASTEST-GROWING GREEN HYDROGEN MARKET,
2021–2026 42
5 MARKET OVERVIEW 43
5.1 INTRODUCTION 43
5.2 MARKET DYNAMICS 43
FIGURE 14 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN GREEN HYDROGEN MARKET 44
5.2.1 DRIVERS 44
5.2.1.1 Low variable electricity costs 44
5.2.1.2 Technological advancements 45
5.2.1.3 Global plans for net-zero emissions by 2050 45
5.2.1.4 High demand from FCEVs and power industry 46
5.2.2 RESTRAINTS 46
5.2.2.1 Higher costs of green hydrogen 46
5.2.2.2 Lack of transportation infrastructure 47
5.2.2.3 Energy loss in value chain 47
5.2.2.4 Sustainability management 47
5.2.3 OPPORTUNITIES 47
5.2.3.1 Decreasing costs of electrolyzers 47
5.2.3.2 Increasing government investments 47
5.2.3.3 Announcement of large capacity green hydrogen projects 48
5.2.3.4 Favorable policies for green hydrogen 49

5.2.4 CHALLENGES 49
5.2.4.1 High initial investments 49
5.2.4.2 Under-developed market 49
5.3 PORTER'S FIVE FORCES ANALYSIS 49
FIGURE 15 PORTER'S FIVE FORCES ANALYSIS: GREEN HYDROGEN MARKET 50
5.3.1 BARGAINING POWER OF SUPPLIERS 50
5.3.2 BARGAINING POWER OF BUYERS 50
5.3.3 THREAT OF SUBSTITUTES 51
5.3.4 THREAT OF NEW ENTRANTS 51
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 51
TABLE 1 GREEN HYDROGEN MARKET: PORTER'S FIVE FORCES ANALYSIS 52
5.4 TECHNOLOGY ANALYSIS 52
5.5 ECOSYSTEM: GREEN HYDROGEN MARKET 52
TABLE 2 GREEN HYDROGEN MARKET: ECOSYSTEM 53
5.6 SUPPLY CHAIN ANALYSIS 53
FIGURE 16 GREEN HYDROGEN MARKET: SUPPLY CHAIN ANALYSIS 53
5.7 VALUE CHAIN ANALYSIS 54
FIGURE 17 GREEN HYDROGEN MARKET: VALUE CHAIN ANALYSIS 54
5.8 RAW MATERIAL SELECTION 54
5.9 IMPACT OF COVID–19 54
5.9.1 SHORTAGE OF LIQUIDITY 54
5.9.2 DELAY IN PROJECTS 55
5.9.3 INCREASING ROLE OF GOVERNMENT TO DRIVE MARKET 55
5.10 GREEN HYDROGEN MARKET: OPTIMISTIC, PESSIMISTIC, AND REALISTIC SCENARIO 55
TABLE 3 GREEN HYDROGEN MARKET: CAGR (BY VALUE) IN REALISTIC, PESSIMISTIC, AND OPTIMISTIC SCENARIO 55
5.10.1 OPTIMISTIC SCENARIO 55
5.10.2 PESSIMISTIC SCENARIO 55
5.10.3 REALISTIC SCENARIO 56
5.11 PRICING ANALYSIS 56
FIGURE 18 GREEN HYDROGEN MARKET: PRICING ANALYSIS 2019-2021 56
5.11.1 AVERAGE SELLING PRICE 57
TABLE 4 AVERAGE SELLING PRICE, BY REGION 57
5.12 KEY MARKET FOR IMPORT/EXPORT 57
5.12.1 CHINA 57
5.12.2 CANADA 57
5.12.3 GERMANY 57
5.12.4 SAUDI ARABIA 58
5.12.5 NORWAY 58
5.12.6 NETHERLANDS 58
5.12.7 CHILE 58
5.12.8 AUSTRALIA 58
5.12.9 SOUTH KOREA 58
5.12.10 JAPAN 59
5.13 GREEN HYDROGEN GLOBAL PROJECTS 59
TABLE 5 UPCOMING PROJECTS FOR GREEN HYDROGEN 59
5.14 CASE STUDY ANALYSIS 60
5.15 TARIFF AND REGULATIONS 61
TABLE 6 CURRENT STANDARD CODES FOR GREEN HYDROGEN 61
5.16 GREEN HYDROGEN MARKET: TRENDS AND DISRUPTIONS IMPACTING CONSUMERS 62
6 GREEN HYDROGEN MARKET, BY TECHNOLOGY 63
6.1 INTRODUCTION 64
FIGURE 19 ALKALINE ELECTROLYSIS TECHNOLOGY TO DOMINATE GREEN HYDROGEN MARKET DURING FORECAST PERIOD 64
TABLE 7 GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (USD MILLION) 64
TABLE 8 GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY, 2019–2026 (KILOTON) 64
6.2 ALKALINE ELECTROLYSIS 65
FIGURE 20 EUROPE TO BE LARGEST MARKET FOR ALKALINE ELECTROLYSIS TECHNOLOGY 65
TABLE 9 ALKALINE ELECTROLYSIS: GREEN HYDROGEN MARKET SIZE, BY REGION, 2019–2026 (USD MILLION) 65
TABLE 10 ALKALINE ELECTROLYSIS: GREEN HYDROGEN MARKET SIZE, BY REGION, 2019–2026 (KILOTON) 66
6.3 PEM ELECTROLYSIS 66
FIGURE 21 EUROPE TO REMAIN LARGEST GREEN HYDROGEN MARKET FOR PEM ELECTROLYSIS TECHNOLOGY 67
TABLE 11 PEM ELECTROLYSIS: GREEN HYDROGEN MARKET, BY REGION,
2019–2026 (USD MILLION) 67
TABLE 12 PEM ELECTROLYSIS: GREEN HYDROGEN MARKET SIZE, BY REGION,
2019–2026 (KILOTON) 67
7 GREEN HYDROGEN MARKET, BY RENEWABLE SOURCE 69
7.1 INTRODUCTION 70
FIGURE 22 WIND ENERGY REMAINS THE MOST WIDELY USED SOURCE OF ENERGY 70
TABLE 13 GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE,
2019–2026 (USD MILLION) 70
TABLE 14 GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE,
2019–2026 (KILOTON) 71
7.2 WIND 71
FIGURE 23 EUROPE TO BE LARGEST GREEN HYDROGEN MARKET BY WIND ENERGY 71
TABLE 15 GREEN HYDROGEN MARKET SIZE FOR WIND ENERGY, BY REGION,
2019–2026 (USD MILLION) 72
TABLE 16 GREEN HYDROGEN MARKET SIZE FOR WIND ENERGY, BY REGION,
2019–2026 (KILOTON) 72
7.3 SOLAR 72
FIGURE 24 EUROPE TO BE LARGEST GREEN HYDROGEN MARKET BY SOLAR ENERGY 73
TABLE 17 GREEN HYDROGEN MARKET SIZE FOR SOLAR ENERGY, BY REGION,
2019–2026 (USD MILLION) 73
TABLE 18 GREEN HYDROGEN MARKET SIZE FOR SOLAR ENERGY, BY REGION,
2019–2026 (KILOTON) 73
7.4 OTHER RENEWABLE ENERGY SOURCES 74
FIGURE 25 EUROPE TO BE LARGEST GREEN HYDROGEN MARKET BY OTHER RENEWABLE ENERGY SOURCES 74
TABLE 19 GREEN HYDROGEN MARKET SIZE FOR OTHER SOURCES, BY REGION,
2019–2026 (USD MILLION) 74
TABLE 20 GREEN HYDROGEN MARKET SIZE FOR OTHER SOURCES, BY REGION,
2019–2026 (KILOTON) 75
8 GREEN HYDROGEN MARKET, BY END-USE INDUSTRY 76
8.1 INTRODUCTION 77
FIGURE 26 MOBILITY END-USE INDUSTRY TO WITNESS RAPID GROWTH DURING FORECAST PERIOD 77
TABLE 21 GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 77
TABLE 22 GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 78
TABLE 23 ENERGY DENSITY OF VARIOUS FUELS 78
8.2 MOBILITY 79
FIGURE 27 EUROPE TO DOMINATE GREEN HYDROGEN MARKET IN MOBILITY INDUSTRY 79
TABLE 24 GREEN HYDROGEN MARKET SIZE IN MOBILITY END-USE INDUSTRY,
BY REGION, 2019–2026 (KILOTON) 79
TABLE 25 GREEN HYDROGEN MARKET SIZE IN MOBILITY END-USE INDUSTRY,
BY REGION, 2019–2026 (USD MILLION) 80
8.3 CHEMICAL 80
FIGURE 28 EUROPE TO LEAD GREEN HYDROGEN MARKET IN CHEMICAL INDUSTRY 80
TABLE 26 GREEN HYDROGEN MARKET SIZE IN CHEMICAL END-USE INDUSTRY,
BY REGION, 2019–2026 (KILOTON) 81
TABLE 27 GREEN HYDROGEN MARKET SIZE IN CHEMICAL END-USE INDUSTRY,
BY REGION, 2019–2026 (USD MILLION) 81
8.4 POWER 81
FIGURE 29 EUROPE TO REMAIN LARGEST GREEN HYDROGEN MARKET IN POWER INDUSTRY 82
TABLE 28 GREEN HYDROGEN MARKET SIZE IN POWER END-USE INDUSTRY, BY REGION, 2019–2026 (KILOTON) 82
TABLE 29 GREEN HYDROGEN MARKET SIZE IN POWER END-USE INDUSTRY, BY REGION, 2019–2026 (USD MILLION) 82
8.5 GRID INJECTION 83
FIGURE 30 EUROPE TO BE FASTEST-GROWING GREEN HYDROGEN MARKET IN GRID INJECTION INDUSTRY 83
TABLE 30 GREEN HYDROGEN MARKET SIZE IN GRID INJECTION END-USE INDUSTRY,
BY REGION, 2019–2026 (KILOTON) 83
TABLE 31 GREEN HYDROGEN MARKET SIZE IN GRID INJECTION END-USE INDUSTRY,
BY REGION, 2019–2026 (USD MILLION) 84
8.6 INDUSTRIAL 84
FIGURE 31 EUROPE TO BE FASTEST-GROWING GREEN HYDROGEN MARKET IN INDUSTRIAL INDUSTRY 84
TABLE 32 GREEN HYDROGEN MARKET SIZE IN INDUSTRIAL END-USE INDUSTRY,
BY REGION, 2019–2026 (KILOTON) 85
TABLE 33 GREEN HYDROGEN MARKET SIZE IN INDUSTRIAL END-USE INDUSTRY,
BY REGION, 2019–2026 (USD MILLION) 85
8.7 OTHERS 85
FIGURE 32 EUROPE TO BE FASTEST-GROWING GREEN HYDROGEN MARKET IN GRID INJECTION INDUSTRY 86
TABLE 34 GREEN HYDROGEN MARKET SIZE IN OTHER END-USE INDUSTRIES,
BY REGION, 2019–2026 (KILOTON) 86
TABLE 35 GREEN HYDROGEN MARKET SIZE IN OTHER END-USE INDUSTRIES,
BY REGION, 2019–2026 (USD MILLION) 86
9 GREEN HYDROGEN MARKET, BY REGION 88
9.1 INTRODUCTION 89
9.1.1 GREEN HYDROGEN MARKET SIZE, BY REGION 89
TABLE 36 GREEN HYDROGEN MARKET SIZE, BY REGION, 2019–2026 (USD MILLION) 89
TABLE 37 GREEN HYDROGEN MARKET SIZE, BY REGION, 2019–2026 (KILOTON) 90
9.2 NORTH AMERICA 91
9.2.1 GREEN HYDROGEN MARKET SIZE IN NORTH AMERICA, BY COUNTRY 92
TABLE 38 NORTH AMERICA: GREEN HYDROGEN MARKET SIZE, BY COUNTRY,
2019–2026 (USD MILLION) 92
TABLE 39 NORTH AMERICA: GREEN HYDROGEN MARKET SIZE, BY COUNTRY,
2019–2026 (KILOTON) 92
9.2.2 GREEN HYDROGEN MARKET SIZE IN NORTH AMERICA, BY TECHNOLOGY 93
TABLE 40 NORTH AMERICA: GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (USD MILLION) 93
TABLE 41 NORTH AMERICA: GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (KILOTON) 93
9.2.3 GREEN HYDROGEN MARKET SIZE IN NORTH AMERICA, BY RENEWABLE SOURCE 93
TABLE 42 NORTH AMERICA: GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE 2019–2026 (USD MILLION) 93
TABLE 43 NORTH AMERICA: GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE, 2019–2026 (KILOTON) 94
9.2.4 GREEN HYDROGEN MARKET SIZE IN NORTH AMERICA, BY END-USE INDUSTRY 94
TABLE 44 NORTH AMERICA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY 2019–2026 (USD MILLION) 94
TABLE 45 NORTH AMERICA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON) 95
9.2.5 US 95
9.2.5.1 Most promising and untapped market for green hydrogen in the world 95
9.2.5.2 Green hydrogen market in US, by end-use industry 96
TABLE 46 US: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 96
TABLE 47 US: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 96
9.2.6 CANADA 96
9.2.6.1 Growing mobility and power sectors to drive market 96
9.2.6.2 Green hydrogen market in Canada, by end-use industry 97
TABLE 48 CANADA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 97
TABLE 49 CANADA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 97
9.3 EUROPE 98
9.3.1 GREEN HYDROGEN MARKET SIZE IN EUROPE, BY COUNTRY 100
TABLE 50 EUROPE: GREEN HYDROGEN MARKET SIZE, BY COUNTRY,
2019–2026 (USD MILLION) 100
TABLE 51 EUROPE: GREEN HYDROGEN MARKET SIZE, BY COUNTRY,
2019–2026 (KILOTON) 100
9.3.2 GREEN HYDROGEN MARKET SIZE IN EUROPE, BY TECHNOLOGY 101
TABLE 52 EUROPE: GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (USD MILLION) 101
TABLE 53 EUROPE: GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (KILOTON) 101
9.3.3 GREEN HYDROGEN MARKET SIZE IN EUROPE, BY RENEWABLE SOURCE 101
TABLE 54 EUROPE: GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE,
2019–2026 (USD MILLION) 101
TABLE 55 EUROPE: GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE,
2019–2026 (KILOTON) 102
9.3.4 GREEN HYDROGEN MARKET SIZE IN EUROPE, BY END-USE INDUSTRY 102
TABLE 56 EUROPE: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY
2019–2026 (USD MILLION) 102
TABLE 57 EUROPE: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 103
9.3.5 GERMANY 103
9.3.5.1 World leader for green hydrogen 103
9.3.5.2 Green hydrogen market in Germany, by end-use industry 104
TABLE 58 GERMANY: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026(USD MILLION) 104
TABLE 59 GERMANY: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 104
9.3.6 AUSTRIA 105
9.3.6.1 High focus on developing a green hydrogen economy 105
9.3.6.2 Green hydrogen market in Austria, by end-use industry 105
TABLE 60 AUSTRIA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 105
TABLE 61 AUSTRIA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 106
9.3.7 DENMARK 106
9.3.7.1 Demand in mobility sector to drive market 106
9.3.7.2 Green hydrogen market in Denmark, by end-use industry 107
TABLE 62 DENMARK: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 107
TABLE 63 DENMARK: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 107
9.3.8 UK 107
9.3.8.1 Diversified industrial base increasing demand 107
9.3.8.2 Green hydrogen market in UK, by end-use industry 108
TABLE 64 UK: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 108
TABLE 65 UK: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 108
9.3.9 FRANCE 109
9.3.9.1 Energy and power industries supporting market growth 109
9.3.9.2 Green hydrogen market in France, by end-use industry 109
TABLE 66 FRANCE: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 109
TABLE 67 FRANCE: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 109
9.3.10 REST OF EUROPE 110
9.3.10.1 Green hydrogen market in Rest of Europe, by end-use industry 110
TABLE 68 REST OF EUROPE: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 110
TABLE 69 REST OF EUROPE: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON) 110
9.4 APAC 111
9.4.1 GREEN HYDROGEN MARKET SIZE IN APAC, BY COUNTRY 112
TABLE 70 APAC: GREEN HYDROGEN MARKET SIZE, BY COUNTRY,
2019–2026 (USD MILLION) 112
TABLE 71 APAC: GREEN HYDROGEN MARKET SIZE, BY COUNTRY,
2019–2026 (KILOTON) 113
9.4.2 GREEN HYDROGEN MARKET SIZE IN APAC, BY TECHNOLOGY 113
TABLE 72 APAC: GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (USD MILLION) 113
TABLE 73 APAC: GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (KILOTON) 113
9.4.3 GREEN HYDROGEN MARKET SIZE IN APAC, BY RENEWABLE SOURCE 114
TABLE 74 APAC: GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE,
2019–2026 (USD MILLION) 114
TABLE 75 APAC: GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE,
2019–2026 (KILOTON) 114
9.4.4 GREEN HYDROGEN MARKET SIZE IN APAC, BY END-USE INDUSTRY 114
TABLE 76 APAC: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY
2019–2026 (USD MILLION) 114
TABLE 77 APAC: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 115
9.4.5 CHINA 115
9.4.5.1 Mobility driving market growth 115
9.4.5.2 Green hydrogen market in China, by end-use industry 115
TABLE 78 CHINA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 115
TABLE 79 CHINA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 116
9.4.6 JAPAN 116
9.4.6.1 Potential to become green hydrogen leaders in the world 116
9.4.6.2 Green hydrogen market in Japan, by end-use industry 116
TABLE 80 JAPAN: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 116
TABLE 81 JAPAN: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 117
9.4.7 AUSTRALIA 117
9.4.7.1 Vast natural resources making it the most promising market 117
9.4.7.2 Green hydrogen market in Australia, by end-use industry 117
TABLE 82 AUSTRALIA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 117
TABLE 83 AUSTRALIA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON) 118
9.4.8 REST OF APAC 118
9.4.8.1 Green hydrogen market in Rest of APAC, by end-use industry 118
TABLE 84 REST OF APAC: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 118
TABLE 85 REST OF APAC: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON) 119
9.5 MEA 119
9.5.1 GREEN HYDROGEN MARKET SIZE IN MEA, BY COUNTRY 119
TABLE 86 MEA: GREEN HYDROGEN MARKET SIZE, BY COUNTRY,
2019–2026 (USD MILLION) 119
TABLE 87 MEA: GREEN HYDROGEN MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON) 120
9.5.2 GREEN HYDROGEN MARKET SIZE IN MEA, BY TECHNOLOGY 120
TABLE 88 MEA: GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (USD MILLION) 120
TABLE 89 MEA: GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (KILOTON) 120
9.5.3 GREEN HYDROGEN MARKET SIZE IN MEA, BY RENEWABLE SOURCE 121
TABLE 90 MEA: GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE,
2019–2026 (USD MILLION) 121
TABLE 91 MEA: GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE,
2019–2026 (KILOTON) 121
9.5.4 GREEN HYDROGEN MARKET SIZE IN MEA, BY END-USE INDUSTRY 121
TABLE 92 MEA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY
2019–2026 (USD MILLION) 121
TABLE 93 MEA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 122
9.5.5 UAE 122
9.5.5.1 Increasing green hydrogen production plants to meet demand 122
9.5.5.2 Green hydrogen market in UAE, by end-use industry 122
TABLE 94 UAE: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 122
TABLE 95 UAE: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 123
9.5.6 SAUDI ARABIA 123
9.5.6.1 Demand for green hydrogen in mobility applications to boost market 123
9.5.6.2 Green hydrogen market in Saudi Arabia, by end-use industry 123
TABLE 96 SAUDI ARABIA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 123
TABLE 97 SAUDI ARABIA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON) 124
9.5.7 REST OF MEA 124
9.5.7.1 Green hydrogen market in Rest of MEA, by end-use industry 124
TABLE 98 REST OF MEA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 124
TABLE 99 REST OF MEA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON) 125
9.6 LATIN AMERICA 125
9.6.1 GREEN HYDROGEN MARKET SIZE IN LATIN AMERICA, BY COUNTRY 125
TABLE 100 LATIN AMERICA: GREEN HYDROGEN MARKET SIZE, BY COUNTRY,
2019–2026 (USD MILLION) 125
TABLE 101 LATIN AMERICA: GREEN HYDROGEN MARKET SIZE, BY COUNTRY,
2019–2026 (KILOTON) 126
9.6.2 GREEN HYDROGEN MARKET SIZE IN LATIN AMERICA, BY TECHNOLOGY 126
TABLE 102 LATIN AMERICA: GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (USD MILLION) 126
TABLE 103 LATIN AMERICA: GREEN HYDROGEN MARKET SIZE, BY TECHNOLOGY,
2019–2026 (KILOTON) 126
9.6.3 GREEN HYDROGEN MARKET SIZE IN LATIN AMERICA, BY RENEWABLE SOURCE 127
TABLE 104 LATIN AMERICA: GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE, 2019–2026 (USD MILLION) 127
TABLE 105 LATIN AMERICA: GREEN HYDROGEN MARKET SIZE, BY RENEWABLE SOURCE, 2019–2026 (KILOTON) 127
9.6.4 GREEN HYDROGEN MARKET SIZE IN LATIN AMERICA, BY END-USE INDUSTRY 127
TABLE 106 LATIN AMERICA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY 2019–2026 (USD MILLION) 127
TABLE 107 LATIN AMERICA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON) 128
9.6.5 BRAZIL 128
9.6.5.1 Most promising green hydrogen 128
9.6.5.2 Green hydrogen market in Brazil, by end-use industry 128
TABLE 108 BRAZIL: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 128
TABLE 109 BRAZIL: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 129
9.6.6 MEXICO 129
9.6.6.1 Growing mobility and power industries to boost market 129
9.6.6.2 Green hydrogen market in Mexico, by end-use industry 129
TABLE 110 MEXICO: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (USD MILLION) 129
TABLE 111 MEXICO: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY,
2019–2026 (KILOTON) 130
9.6.7 ARGENTINA 130
9.6.7.1 Growing economic status and spending on green hydrogen projects 130
9.6.7.2 Green hydrogen market in Argentina, by end-use industry 130
TABLE 112 ARGENTINA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 130
TABLE 113 ARGENTINA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON) 131
9.6.8 REST OF LATIN AMERICA 131
9.6.8.1 Green Hydrogen market in Rest of Latin America, by end-use industry 131
TABLE 114 REST OF LATIN AMERICA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION) 131
TABLE 115 REST OF LATIN AMERICA: GREEN HYDROGEN MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON) 132
10 COMPETITIVE LANDSCAPE 133
10.1 INTRODUCTION 133
10.2 MARKET SHARE ANALYSIS 133
TABLE 116 DEGREE OF COMPETITION: CONSOLIDATED 134
10.3 MARKET RANKING 134
FIGURE 38 RANKING OF TOP FIVE PLAYERS IN GREEN HYDROGEN MARKET 134
10.4 MARKET EVALUATION FRAMEWORK 135
TABLE 117 GREEN HYDROGEN MARKET: NEW PRODUCT LAUNCH/DEVELOPMENT,
2016-2021 135
TABLE 118 GREEN HYDROGEN MARKET: DEALS, 2016-2021 136
TABLE 119 GREEN HYDROGEN MARKET: OTHER DEALS, 2016-2021 150
10.5 COMPANY EVALUATION MATRIX 154
TABLE 120 COMPANY PRODUCT FOOTPRINT 154
TABLE 121 COMPANY INDUSTRY FOOTPRINT 155
TABLE 122 COMPANY APPLICATION FOOTPRINT 155
TABLE 123 COMPANY REGION FOOTPRINT 156
10.5.1 STAR 156
10.5.2 PERVASIVE 156
10.5.3 PARTICIPANTS 156
10.5.4 EMERGING LEADERS 156
FIGURE 39 GREEN HYDROGEN MARKET (GLOBAL) COMPETITIVE LEADERSHIP
MAPPING, 2020 157
10.5.5 STRENGTH OF PRODUCT PORTFOLIO 158
FIGURE 40 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN GREEN HYDROGEN MARKET 158
10.5.6 BUSINESS STRATEGY EXCELLENCE 159
FIGURE 41 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN GREEN HYDROGEN MARKET 159
FIGURE 42 GREEN HYDROGEN MARKET: SMALL AND MEDIUM-SIZED ENTERPRISES MAPPING, 2020 160
11 COMPANY PROFILES 161
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
11.1 KEY COMPANIES 161
11.1.1 AIR LIQUIDE 161
TABLE 124 AIR LIQUIDE: BUSINESS OVERVIEW 161
FIGURE 43 AIR LIQUIDE: COMPANY SNAPSHOT 162
11.1.2 AIR PRODUCTS AND CHEMICALS, INC. 165
TABLE 125 AIR PRODUCTS AND CHEMICALS, INC.: BUSINESS OVERVIEW 165
FIGURE 44 AIR PRODUCTS AND CHEMICALS, INC.: COMPANY SNAPSHOT 166
11.1.3 ENGIE 170
TABLE 126 ENGIE: BUSINESS OVERVIEW 170
FIGURE 45 ENGIE: COMPANY SNAPSHOT 171
11.1.4 UNIPER SE 174
TABLE 127 UNIPER SE: BUSINESS OVERVIEW 174
FIGURE 46 UNIPER SE: COMPANY SNAPSHOT 175
11.1.5 SIEMENS ENERGY AG 178
TABLE 128 SIEMENS ENERGY AG: BUSINESS OVERVIEW 178
FIGURE 47 SIEMENS ENERGY AG: COMPANY SNAPSHOT 179
11.1.6 LHYFE 183
TABLE 129 LHYFE: BUSINESS OVERVIEW 183
11.1.7 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION 186
TABLE 130 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: BUSINESS OVERVIEW 186
FIGURE 48 TOSHIBA CORPORATION (PARENT COMPANY): COMPANY SNAPSHOT 187
11.1.8 NEL ASA 192
TABLE 131 NEL ASA: BUSINESS OVERVIEW 192
FIGURE 49 NEL ASA: COMPANY SNAPSHOT 193
11.1.9 ORSTED AS 198
TABLE 132 ORSTED AS: BUSINESS OVERVIEW 198
FIGURE 50 ORSTED AS: COMPANY SNAPSHOT 199
11.1.10 LINDE 203
TABLE 133 LINDE: BUSINESS OVERVIEW 203
FIGURE 51 LINDE: COMPANY SNAPSHOT 204
11.1.11 CUMMINS INC. 209
TABLE 134 CUMMINS INC.: BUSINESS OVERVIEW 209
FIGURE 52 CUMMINS INC.: COMPANY SNAPSHOT 210
11.1.12 H&R ÖLWERKE SCHINDLER GMBH 215
TABLE 135 H&R ÖLWERKE SCHINDLER GMBH: BUSINESS OVERVIEW 215
FIGURE 53 H&R ÖLWERKE SCHINDLER GMBH: COMPANY SNAPSHOT 216
11.1.13 WIND TO GAS ENERGY GMBH & CO. KG 218
TABLE 136 WIND TO GAS ENERGY GMBH & CO. KG: BUSINESS OVERVIEW 218
11.1.14 GUANGDONG NATION-SYNERGY HYDROGEN POWER TECHNOLOGY CO., LTD. 220
TABLE 137 GUANGDONG NATION-SYNERGY HYDROGEN POWER TECHNOLOGY CO., LTD.: BUSINESS OVERVIEW 220
11.2 OTHER KEY PLAYERS 224
11.2.1 IBERDROLA 224
11.2.2 ENEL GREEN POWER S.P.A 224
11.2.3 ENVISION DIGITAL 224
11.2.4 HYNAMICS (EDF) 224
11.2.5 ACWA POWER 225
11.2.6 GREEN HYDROGEN SYSTEMS 225
11.2.7 ROSATOM 225
11.2.8 ENEGIX RENEWABLE ENERGIES LTD. 226
11.2.9 ACME SOLAR HOLDINGS LTD 226
11.2.10 GEOPURA 226
11.2.11 IWATANI 226
11.2.12 XEBEC ADSORPTION, INC. 227
11.2.13 AQUAHYDREX, INC. 227
11.2.14 ENAPTER 227
11.2.15 STARFIRE ENERGY 227
11.2.16 HIRINGA ENERGY 228
11.2.17 PLUG POWER 228
11.2.18 ATAWEY 228
11.2.19 ITM POWER PLC 228
11.2.20 BEIJING CEI TECHNOLOGY CO., LTD. 229
11.2.21 TIANJIN MAINLAND HYDROGEN EQUIPMENT COMPANY LTD. 229
11.2.22 THYSSENKRUPP 229
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
12 APPENDIX 230
12.1 DISCUSSION GUIDE 230
12.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 233
12.3 AVAILABLE CUSTOMIZATIONS 235
12.4 RELATED REPORTS 235
12.5 AUTHOR DETAILS 236