Empowering North America: The Surge of Green Hydrogen Market Growth
Key Ideas
  • The North America Green Hydrogen Market is projected to grow from USD 304.8 million in 2023 to USD 38.2 billion by 2032 at a CAGR of 62.2%.
  • Government mandates and investments, along with private sector support, are driving the adoption of green hydrogen in various sectors including industrial, transportation, aviation, and mobility.
  • The PEM technology segment and transportation application segment are expected to show significant growth, with PEM technology reaching over USD 8.5 billion and transportation growing by more than 55.5% CAGR through 2032.
  • The United States is poised to lead the green hydrogen market, with a projected value of over USD 37.1 billion by 2032, driven by robust government investments and strategic alliances for green hydrogen initiatives.
The North America Green Hydrogen Market is experiencing rapid growth, valued at USD 304.8 million in 2023 and expected to reach USD 38.2 billion by 2032 with a CAGR of 62.2%. Green hydrogen, produced through water electrolysis using renewable energy sources, is gaining traction due to its eco-friendly nature. Key sectors benefiting from green hydrogen include industrial, transportation, aviation, and mobility due to its storability and transportability. Government initiatives, funding programs, and the shift towards zero-emission energy sources are major drivers of green hydrogen adoption. The PEM technology segment is expected to surpass USD 8.5 billion by 2032, known for its reliability and efficiency. Transportation applications are set to grow over 55.5% CAGR through 2032, supported by government investments in reducing carbon emissions. The U.S. is leading the green hydrogen market, with a projected value exceeding USD 37.1 billion by 2032. Strategic alliances, low-cost electricity availability, and favorable government measures are fuelling this growth. Market players like Plug Power, NextEra Energy, and others are forming partnerships and investing in green hydrogen projects to support production. Overall, the North America Green Hydrogen Market is witnessing positive growth trends due to technological advancements, government support, and increasing demand for clean fuel sources across various sectors.
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