Rapid Growth and Key Players in the Global Green Hydrogen Market
Key Ideas
  • The global green hydrogen market is projected to grow significantly, reaching USD 30.6 Billion by 2030, driven by factors such as declining renewable energy costs and advancements in electrolysis technologies.
  • Key players in the market include Linde plc, Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, and others, contributing to the growth of the green hydrogen sector.
  • The market is fueled by high demand from fuel cell electric vehicles (FCEVs) and the power industry, with Europe expected to lead in the green hydrogen market during the forecast period.
  • Asia Pacific, particularly countries like Australia, India, Japan, and China, is emerging as a key region for green hydrogen initiatives, with strong government policies and private sector investments driving growth.
The Global Green Hydrogen Market is expected to witness substantial growth, expanding from USD 1.1 Billion in 2023 to USD 30.6 Billion by 2030, representing a CAGR of 61.1%. Factors such as the decreasing cost of renewable energy production, advancements in electrolysis technologies, and growing demand from the power industry and fuel cell electric vehicles are propelling this market. Several countries are committing to achieving net-zero emissions, which further accelerates the adoption of green hydrogen. The study by MarketsandMarkets™ highlights key players in the green hydrogen market, including Linde plc, Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, and others. The market is primarily driven by the high demand from FCEVs and the power industry, with Europe expected to hold a significant market share. The alkaline electrolysis segment is identified as the largest in terms of value, with wind energy playing a crucial role. Asia Pacific is positioned as the second largest market for green hydrogen, with countries like Australia, India, Japan, and China spearheading green hydrogen initiatives. The region benefits from strong government policies and investments from the private sector. Toshiba Energy Systems & Solutions Corporation, a key player in the green hydrogen market, is actively involved in developing next-generation water electrolyzers for large-scale hydrogen production. The article emphasizes the positive outlook for green hydrogen, with a focus on market growth, key players, technology advancements, and the growing significance of Asia Pacific in the global green hydrogen landscape.
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