Asia Pacific Green Hydrogen Market Forecast to 2030

Asia Pacific Green Hydrogen Market Forecast to 2030

Asia Pacific Green Hydrogen Market Forecast to 2030 – Regional Analysis – by Technology (Alkaline Electrolysis and PEM Electrolysis), Renewable Source (Wind Energy and Solar Energy), and End-Use Industry (Chemical, Power, Food & Beverages, Medical, Petrochemicals, and Others)

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The Asia Pacific green hydrogen market is expected to grow from US$ 1,092.91 million in 2022 to US$ 25,976.41 by 2030. It is estimated to grow at a CAGR of 48.6% from 2022 to 2030.

Growing Establishment of Large Green Hydrogen Plants Fuels Asia Pacific Green Hydrogen Market

The establishment of large-scale green hydrogen plants attracts significant investments from both the public and private sectors. In June 2023, a group of companies announced their plan to invest US$ 79.75 in a project for the development of a hydrogen production facility and a hydrogen liquefaction facility in Queensland, Australia. The group of companies includes Iwatani Corporation (Japan), Kansai Electric Power Company (Japan), Marubeni Corporation (Japan), Keppel Infrastructure (Singapore), and Stanwell Corporation (Australia).

Large-sized green hydrogen plants require dedicated infrastructure, including hydrogen production facilities, storage systems, and transportation networks. The establishment of such plants drives the requirement for a robust infrastructure that supports the distribution and utilization of green hydrogen. For instance, in June 2023, Larsen & Toubro announced its plan to set up infrastructure for the world’s largest green hydrogen plant in Saudi Arabia, which is being built by NEOM Green Hydrogen Company (NGHC). Thus, a rise in infrastructure development is expected to create a favorable environment for the adoption of green hydrogen in different sectors, which is likely to offer growth opportunities to the market players during the forecast period.

Asia Pacific Green Hydrogen Market Overview

Asia Pacific is witnessing intense competition among companies aiming to establish green hydrogen production bases, recognizing its potential as a next-generation power source. Leading the charge are Western and regional companies teaming up for massive projects. Danish multinational Orsted, a major offshore wind power company, is exploring entry into the green hydrogen market. The company partnered with South Korean steelmaker POSCO for an offshore wind power project in May 2021. It is studying the feasibility of green hydrogen production. Western oil companies are also making significant investments in the region. For instance, in June 2022, BP became the largest shareholder in the Asian Renewable Energy Hub (AREH) project in Australia, aiming to produce up to 1.6 metric ton of green hydrogen annually and secure a 10% share of the global market.

Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Green Hydrogen Market Segmentation

The Asia Pacific green hydrogen market is segmented into technology, renewable source, end-use industry, and country.

Based o n technology, the Asia Pacific green hydrogen market is bifurcated into alkaline electrolysis and PEM electrolysis. The alkaline electrolysis segment accounted a larger share of the Asia Pacific green hydrogen market in 2022.

By renewable source, the Asia Pacific green hydrogen market is divided into wind energy and solar energy. The solar energy segment held a larger share of the Asia Pacific green hydrogen market in 2022.

By end use, the Asia Pacific green hydrogen market is segmented into chemical, power, food & beverages, medical, petrochemicals, and others. In 2022, the power segment held a largest share of the Asia Pacific green hydrogen market.

Based on country, the Asia Pacific green hydrogen market is segmented int o Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific green hydrogen market in 2022.

Air Products & Chemicals Inc, Cummins Inc, Engie SA, L’Air Liquide SA, Linde Plc, Nel ASA, Siemens Energy AG, and Toshiba Energy Systems & Solutions Corp are some of the leading companies operating in the Asia Pacific green hydrogen market.

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At 48.6% CAGR, the Asia Pacific Green Hydrogen Market is speculated to be worth US$ 25,976.41 million by 2030 says the research team

According to the research team’ research, the Asia Pacific green hydrogen market was valued at US$ 1,092.91 million in 2022 and is expected to reach US$ 25,976.41 million by 2030 registering a CAGR of 48.6% from 2022 to 2030. Rising global plans for net-zero emission by 2050, growing investment in renewable energy, and increasing demand for FCEV are the critical factors attributed to the Asia Pacific green hydrogen market expansion.

According to the International Energy Agency (IEA), in 2022, the global energy demand will increase by 8%. Investments in cleaner technologies are significantly growing due to a structural shift in capital flows toward such technologies. A few of the recent investments are mentioned below: In January 2023, China’s National Energy Administration 2022 installed 87 gigawatts (GW) solar infrastructure, showcasing a 59% year-on-year growth. To achieve net-zero emissions, there is a growing focus on expanding renewable energy capacity and integrating it into the energy mix. Green hydrogen provides a means to store and utilize excess renewable energy, especially from intermittent sources such as solar and wind. This synergy between renewable energy and green hydrogen supports the development of a sustainable and reliable energy system. Thus, the increasing investments in renewable energy are contributing to the growth of the green hydrogen market.

On the contrary, high cost of green hydrogen and associated products and lack of infrastructure hampers the Asia Pacific green hydrogen market .

Based on technology, the Asia Pacific green hydrogen market is bifurcated into alkaline electrolysis and PEM electrolysis. The alkaline electrolysis segment held 58.0% share of Asia Pacific green hydrogen market in 2022, amassing US$ 633.82 million. It is projected to garner US$ 14,508.26 million by 2030 to expand at 47.9% CAGR during 2022–2030.

Based on renewable source, the Asia Pacific green hydrogen market is divided into wind energy and solar energy. The solar energy segment held 64.1% share of Asia Pacific green hydrogen market in 2022, amassing US$ 700.68 million. It is projected to garner US$ 16,020.81 million by 2030 to expand at 47.9% CAGR during 2022–2030.

Based on end use, the Asia Pacific green hydrogen market is segmented into chemical, power, food & beverages, medical, petrochemicals, and others. The power segment held 35.5% share of Asia Pacific green hydrogen market in 2022, amassing US$ 388.23 million. It is projected to garner US$ 10,086.24 million by 2030 to expand at 50.3% CAGR during 2022–2030.

Based on country, the Asia Pacific green hydrogen market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 68.1% share of Asia Pacific green hydrogen market in 2022. It was assessed at US$ 744.31 million in 2022 and is likely to hit US$ 17,193.79 million by 2030 exhibiting a CAGR of 48.1% CAGR during 2022–2030.

Key players operating in the Asia Pacific green hydrogen market are Air Products & Chemicals Inc, Cummins Inc, Engie SA, L’Air Liquide SA, Linde Plc, Nel ASA, Siemens Energy AG, and Toshiba Energy Systems & Solutions Corp, among others.

In 2020, Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) announced that Toshiba ESS completed delivery of the “H2One™ Station Unit” for the Toyama Hydrogen Energy Promotion Council. The system started operating at the Toyama City Environment Center in Toyama Prefecture, Japan.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific green hydrogen market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific green hydrogen market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

TABLE OF CONTENTS

1. Introduction
1.1 The Research Team Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Green Hydrogen Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Renewable Energy Sources:
4.3.2 Green Hydrogen Producers:
4.3.3 Green Hydrogen Distributors:
4.3.4 End Users or Consumers:
5. Asia Pacific Green Hydrogen Market – Key Industry Dynamics
5.1 Key Market Drivers:
5.1.1 Rising Global Plans for Net-zero Emission by 2050
5.1.2 Growing Investment in Renewable Energy
5.1.3 Increasing Demand for FCEV
5.2 Key Market Restraints:
5.2.1 High Cost of Green Hydrogen and Associated Products
5.2.2 Lack of Infrastructure
5.3 Key Market Opportunities:
5.3.1 Increasing Investment in Green Hydrogen Projects
5.3.2 Growing Establishment of Large Green Hydrogen Plants
5.4 Future Trend:
5.4.1 Technological Advancements in Green Hydrogen
5.5 Impact of Drivers and Restraints:
6. Green Hydrogen Market – Asia Pacific Market Analysis
6.1 Asia Pacific Green Hydrogen Market Share, By Region (%), 2020 and 2030
6.2 Asia Pacific Green Hydrogen Market Revenue (US$ Mn), 2020 – 2030
7. Asia Pacific Green Hydrogen Market Analysis – End-Use Industry
7.1 Overview
7.2 Asia Pacific Green Hydrogen Market Revenue Share, By End-Use Industry (2022 and 2030)
7.3 Chemicals
7.3.1 Overview
7.3.2 Chemicals: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.4 Power
7.4.1 Overview
7.4.2 Power: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.5 Food and Beverages
7.5.1 Overview
7.5.2 Food and Beverages: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.6 Medical
7.6.1 Overview
7.6.2 Medical: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.7 Petrochemicals
7.7.1 Overview
7.7.2 Petrochemicals: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Green Hydrogen Market Analysis – Renewable Source
8.1 Overview
8.2 Asia Pacific Green Hydrogen Market Revenue Share, By Renewable Source (2022 and 2030)
8.3 Wind Energy
8.3.1 Overview
8.3.2 Wind Energy: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
8.4 Solar Energy
8.4.1 Overview
8.4.2 Solar Energy: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Green Hydrogen Market Analysis – Technology
9.1 Overview
9.2 Asia Pacific Green Hydrogen Market Revenue Share, By Technology (2022 and 2030)
9.3 Alkaline Electrolysis
9.3.1 Overview
9.3.2 Alkaline Electrolysis: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
9.4 PEM Electrolysis
9.4.1 Overview
9.4.2 PEM Electrolysis: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
10. Asia Pacific Green Hydrogen Market – Country Analysis
10.1 Overview
10.1.1 Asia Pacific Green Hydrogen Market, by Key Country
10.1.1.1 Australia: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.1.1 Australia: Asia Pacific Green Hydrogen Market, By End-Use Industry
10.1.1.1.2 Australia: Asia Pacific Green Hydrogen Market, By Renewable Source
10.1.1.1.3 Australia: Asia Pacific Green Hydrogen Market, By Technology
10.1.1.2 China: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.2.1 China: Asia Pacific Green Hydrogen Market, By End-Use Industry
10.1.1.2.2 China: Asia Pacific Green Hydrogen Market, By Renewable Source
10.1.1.2.3 China: Asia Pacific Green Hydrogen Market, By Technology
10.1.1.3 India: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.3.1 India: Asia Pacific Green Hydrogen Market, By End-Use Industry
10.1.1.3.2 India: Asia Pacific Green Hydrogen Market, By Renewable Source
10.1.1.3.3 India: Asia Pacific Green Hydrogen Market, By Technology
10.1.1.4 Japan: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.4.1 Japan: Asia Pacific Green Hydrogen Market, By End-Use Industry
10.1.1.4.2 Japan: Asia Pacific Green Hydrogen Market, By Renewable Source
10.1.1.4.3 Japan: Asia Pacific Green Hydrogen Market, By Technology
10.1.1.5 South Korea: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.5.1 South Korea: Asia Pacific Green Hydrogen Market, By End-Use Industry
10.1.1.5.2 South Korea: Asia Pacific Green Hydrogen Market, By Renewable Source
10.1.1.5.3 South Korea: Asia Pacific Green Hydrogen Market, By Technology
10.1.1.6 Rest of Asia Pacific: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.6.1 Rest of Asia Pacific: Asia Pacific Green Hydrogen Market, By End-Use Industry
10.1.1.6.2 Rest of Asia Pacific: Asia Pacific Green Hydrogen Market, By Renewable Source
10.1.1.6.3 Rest of Asia Pacific: Asia Pacific Green Hydrogen Market, By Technology
11. Competitive Landscape
11.1 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
13. Company Profiles
13.1 L’Air Liquide SA
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Siemens Energy AG
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Cummins Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Linde Plc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Nel ASA
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Orsted AS
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Toshiba Energy Systems & Solutions Corp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Uniper SE
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Engie SA
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Air Products & Chemicals Inc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 Appendix

LIST OF TABLES

Table 1. Asia Pacific Green Hydrogen Market Segmentation
Table 2. Asia Pacific Green Hydrogen Market Revenue And Forecasts To 2030 (US$ Mn)
Table 3. Asia Pacific Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 4. Asia Pacific Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 5. Asia Pacific Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 6. Australia: Asia Pacific Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 7. Australia: Asia Pacific Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 8. Australia: Asia Pacific Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 9. China: Asia Pacific Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 10. China: Asia Pacific Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 11. China: Asia Pacific Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 12. India: Asia Pacific Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 13. India: Asia Pacific Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 14. India: Asia Pacific Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 15. Japan: Asia Pacific Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 16. Japan: Asia Pacific Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 17. Japan: Asia Pacific Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 18. South Korea: Asia Pacific Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 19. South Korea: Asia Pacific Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 20. South Korea: Asia Pacific Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 21. Rest of Asia Pacific: Asia Pacific Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 22. Rest of Asia Pacific: Asia Pacific Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 23. Rest of Asia Pacific: Asia Pacific Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)

LIST OF FIGURES

Figure 1. Asia Pacific Green Hydrogen Market Segmentation, By Country
Figure 2. Asia Pacific Green Hydrogen Market – PEST Analysis
Figure 3. Asia Pacific Green Hydrogen Market – Ecosystem Analysis
Figure 4. Asia Pacific Green Hydrogen Market – Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Asia Pacific Green Hydrogen Market Share, By Region (%), 2020 and 2030
Figure 7. Asia Pacific Green Hydrogen Market Revenue (US$ Mn), 2020 – 2030
Figure 8. Asia Pacific Green Hydrogen Market Revenue Share, By End-Use Industry (2022 and 2030)
Figure 9. Chemicals: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 10. Power: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 11. Food and Beverages: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 12. Medical: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 13. Petrochemicals: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 14. Others: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 15. Asia Pacific Green Hydrogen Market Revenue Share, By Renewable Source (2022 and 2030)
Figure 16. Wind Energy: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 17. Solar Energy: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 18. Asia Pacific Green Hydrogen Market Revenue Share, By Technology (2022 and 2030)
Figure 19. Alkaline Electrolysis: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 20. PEM Electrolysis: Asia Pacific Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 21. Asia Pacific Green Hydrogen Market, by Key Country- Revenue (2022) (US$ Million)
Figure 22. Asia Pacific Green Hydrogen Market Revenue Share, By Key Country (2022 and 2030)
Figure 23. Australia: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 24. China: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. India: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. Japan: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 27. South Korea: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 28. Rest of Asia Pacific: Asia Pacific Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 29. Company Positioning & Concentration

The List of Companies – Asia Pacific Green Hydrogen Market
o Air Products & Chemicals Inc
o Cummins Inc
o Engie SA
o L’Air Liquide SA
o Linde Plc
o Nel ASA
o Siemens Energy AG
o Toshiba Energy Systems & Solutions Corp
o Uniper SE
o Orsted AS

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