North America Green Hydrogen Market Growth Fueled by Rising Global Net-Zero Emission Plans
Key Ideas
  • The North America green hydrogen market is projected to surge from US$1,291.07 million in 2022 to US$29,410.58 million by 2030, with a CAGR of 47.8%.
  • Rising global plans for achieving net-zero emissions by 2050 are driving the demand for green hydrogen as a clean, sustainable fuel across various sectors.
  • The US Department of Energy announced an US$8 billion investment in Regional Clean Hydrogen Hubs to boost clean hydrogen production and accelerate the transition to a net-zero emissions economy by 2050.
  • Key market segments in the North America Green Hydrogen market include type (blocks, pellets), application (storage, transportation, industrial), and country (US, Canada, Mexico).
The North America green hydrogen market is witnessing significant growth, with projections showing a substantial increase from US$1,291.07 million in 2022 to US$29,410.58 million by 2030, representing a remarkable CAGR of 47.8%. This growth is attributed to the rising global initiatives towards achieving net-zero emissions by 2050, which are fueling the demand for green hydrogen as a clean and sustainable alternative fuel and energy source across various industries. Green hydrogen, produced through electrolysis using renewable energy sources, finds applications in sectors such as transportation, chemical processes, power generation, and more. The versatility of green hydrogen as a fuel for electric vehicles, feedstock for industries, and a clean energy source has led to its increasing adoption worldwide. The United States, a key player in hydrogen production, is focusing on clean hydrogen applications in areas like data centers, ports, steel manufacturing, and transportation, underlining a growing interest in sustainable solutions. The US Department of Energy's US$8 billion investment in Regional Clean Hydrogen Hubs is a strategic move to showcase the entire clean hydrogen value chain and drive advancements in hydrogen technology and infrastructure. These efforts align with the Biden Administration's goals of achieving a carbon-free electric grid by 2035 and a net-zero emissions economy by 2050. Key segments in the North America Green Hydrogen market include type (blocks, pellets), application (storage, transportation, industrial), and country (US, Canada, Mexico). The market report provides insights on market trends, key players, collaborations, and future market forecasts. Understanding market dynamics, key players, and market parameters is essential for maximizing return on investment and staying informed about industry trends and developments.
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