North America Green Hydrogen Market Forecast to 2030
North America 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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Description
Rising Global Plans for Net-zero Emission by 2050 Fuels North America Green Hydrogen Market
Green hydrogen is produced through the process of electrolysis using renewable energy sources. Green hydrogen has versatile applications in transportation, chemical, power, petrochemical, food & beverages, and other sectors. It can be used as a fuel for fuel cell electric vehicles, a feedstock for industrial processes, and a clean energy source for heating and power generation. With the rising need to decarbonize these sectors, the demand for green hydrogen as a clean, sustainable alternative fuel and energy source is growing significantly across the globe. Many countries and organizations have set ambitious decarbonization goals, aiming to achieve net-zero emissions by 2050 or earlier. Thus, the rising global plans for achieving net-zero emissions by 2050 are driving the green hydrogen market.
North America Green Hydrogen Market Overview
The United States (US) produces ~10 million metric tons of hydrogen per year, mainly used in petroleum refining and ammonia production. However, hydrogen shows significant potential for zero-emission applications in various sectors, including chemical processes, clean energy systems, and transportation. Applications of hydrogen are emerging in areas such as data centers, ports, steel manufacturing, and medium- to heavy-duty trucks, indicating a growing interest in hydrogen for sustainable solutions.
In January 2023, the department of energy (DOE) announced a US$ 8 billion investment in Regional Clean Hydrogen Hubs (H2Hubs) as part of the Infrastructure Investment and Jobs Act. These H2Hubs will showcase the entire clean hydrogen value chain, promoting production, processing, delivery, storage, and end-use applications. The DOE’s efforts align with the Biden Administration’s ambitious targets of achieving a carbon-free electric grid by 2035 and transitioning to a net-zero emissions economy by 2050. The funding aims to accelerate advancements in hydrogen technology and infrastructure, driving progress toward a more sustainable and environmentally friendly future in the US.
Exhibit: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
North America Green Hydrogen Market Segmentation
The North America green hydrogen market is segmented into technology, renewable source, end-use industry, and country.
Based o n technology, the North America green hydrogen market is bifurcated into alkaline electrolysis and PEM electrolysis. The alkaline electrolysis segment accounted a larger share of the North America green hydrogen market in 2022.
By renewable source, the North America green hydrogen market is divided into wind energy and solar energy. The solar energy segment held a larger share of the North America green hydrogen market in 2022.
By end-use industry, the North America green hydrogen market is segmented into chemical, power, food and beverages, medical, petrochemicals, and others. In 2022, the power segment held a largest share of the North America green hydrogen market.
Based on country, the North America green hydrogen market is segmented int o the US, Canada, and Mexico. The US dominated the North America green hydrogen market in 2022.
Air Products & Chemicals Inc, Cummins Inc, Engie SA, L’Air Liquide SA, Linde Plc, Nel ASA, Orsted AS, Siemens Energy AG, and Toshiba Energy Systems & Solutions Corp are some of the leading companies operating in the North America green hydrogen market.
Summary Info
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According to the research team’ research, the North America green hydrogen market was valued at US$ 1,291.07 million in 2022 and is expected to reach US$ 29,410.58 million by 2030 registering a CAGR of 47.8% from 2022 to 2030. Rising global plans for net-zero emission by 2050, increasing demand for FCEV, and technological advancements in green hydrogen are the critical factors attributed to the North America green hydrogen market expansion.
Electrolysis is used to produce green hydrogen by splitting water molecules into hydrogen and oxygen using electricity. Technological advancements in electrolysis contribute to improving the efficiency, cost-effectiveness, and scalability of the production, storage, and utilization of green hydrogen. Enhanced electrolyzer designs, advanced catalyst materials, and optimized operating conditions are a few factors that might lead to higher energy conversion efficiencies, shorter response times, and longer equipment lifetimes. Such advancements are also expanding the range of applications of green hydrogen. Thus, technological advancements associated with green hydrogen are expected to fuel the market growth during the forecast period.
On the contrary, high cost of green hydrogen and associated products and lack of infrastructure hampers the North America green hydrogen market .
Based on technology, the North America green hydrogen market is bifurcated into alkaline electrolysis and PEM electrolysis. The alkaline electrolysis segment held 60.6% share of North America green hydrogen market in 2022, amassing US$ 781.75 million. It is projected to garner US$ 17,176.85 million by 2030 to expand at 47.1% CAGR during 2022–2030.
Based on renewable source, the North America green hydrogen market is divided into wind energy and solar energy. The solar energy segment held 63.8% share of North America green hydrogen market in 2022, amassing US$ 823.69 million. It is projected to garner US$ 17,771.84 million by 2030 to expand at 46.8% CAGR during 2022–2030.
Based on end-use industry, the North America green hydrogen market is segmented into chemical, power, food & beverages, medical, petrochemicals, and others. The power segment held 37.6% share of North America green hydrogen market in 2022, amassing US$ 484.95 million. It is projected to garner US$ 11,808.32 million by 2030 to expand at 49.0% CAGR during 2022–2030.
Based on country, the North America green hydrogen market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 80.0% share of North America green hydrogen market in 2022. It was assessed at US$ 1,032.86 million in 2022 and is likely to hit US$ 23,694.86 million by 2030 exhibiting a CAGR of 47.9% CAGR during 2022–2030.
Key players operating in the North America green hydrogen market are Air Products & Chemicals Inc, Cummins Inc, Engie SA, L’Air Liquide SA, Linde Plc, Nel ASA, Orsted AS, Siemens Energy AG, and Toshiba Energy Systems & Solutions Corp, among others.
In 2023, Linde announced a plan to increase its green hydrogen production capacity in Ontario, California, in response to growing demand from the mobility market. The company is expected to build, own and operate the first of several planned five-megawatt PEM (proton exchange membrane) electrolyzers to increase its hydrogen capacity.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America 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 North America 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 North America 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. North America Green Hydrogen Market Landscape
4.1 Overview
4.2 PEST Analysiss
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. North America 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 – North America Market Analysis
6.1 North America Green Hydrogen Market Share, By Region (US$ Mn), 2020 and 2030
6.2 North America Green Hydrogen Market Revenue (US$ Mn), 2020 – 2030
7. North America Green Hydrogen Market Analysis – End-Use Industry
7.1 Overview
7.2 North America Green Hydrogen Market Revenue Share, By End-Use Industry (2022 and 2030)
7.3 Chemicals
7.3.1 Overview
7.3.2 Chemicals: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.4 Power
7.4.1 Overview
7.4.2 Power: North America 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: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.6 Medical
7.6.1 Overview
7.6.2 Medical: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.7 Petrochemicals
7.7.1 Overview
7.7.2 Petrochemicals: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
8. North America Green Hydrogen Market Analysis – Renewable Source
8.1 Overview
8.2 North America Green Hydrogen Market Revenue Share, By Renewable Source (2022 and 2030)
8.3 Wind Energy
8.3.1 Overview
8.3.2 Wind Energy: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
8.4 Solar Energy
8.4.1 Overview
8.4.2 Solar Energy: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
9. North America Green Hydrogen Market Analysis – Technology
9.1 Overview
9.2 North America Green Hydrogen Market Revenue Share, By Technology (2022 and 2030)
9.3 Alkaline Electrolysis
9.3.1 Overview
9.3.2 Alkaline Electrolysis: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
9.4 PEM Electrolysis
9.4.1 Overview
9.4.2 PEM Electrolysis: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
10. North America Green Hydrogen Market – Country Analysis
10.1 Overview
10.1.1 North America Green Hydrogen Market, by Key Country
10.1.1.1 US: North America Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.1.1 US: North America Green Hydrogen Market, By End-Use Industry
10.1.1.1.2 US: North America Green Hydrogen Market, By Renewable Source
10.1.1.1.3 US: North America Green Hydrogen Market, By Technology
10.1.1.2 Canada: North America Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.2.1 Canada: North America Green Hydrogen Market, By End-Use Industry
10.1.1.2.2 Canada: North America Green Hydrogen Market, By Renewable Source
10.1.1.2.3 Canada: North America Green Hydrogen Market, By Technology
10.1.1.3 Mexico: North America Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.3.1 Mexico: North America Green Hydrogen Market, By End-Use Industry
10.1.1.3.2 Mexico: North America Green Hydrogen Market, By Renewable Source
10.1.1.3.3 Mexico: North America 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. North America Green Hydrogen Market Segmentation
Table 2. North America Green Hydrogen Market Revenue And Forecasts To 2030 (US$ Mn)
Table 3. North America Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 4. North America Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 5. North America Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 6. US: North America Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 7. US: North America Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 8. US: North America Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 9. Canada: North America Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 10. Canada: North America Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 11. Canada: North America Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 12. Mexico: North America Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 13. Mexico: North America Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 14. Mexico: North America Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
LIST OF FIGURES
Figure 1. North America Green Hydrogen Market Segmentation, By Country
Figure 2. North America Green Hydrogen Market – PEST Analysis
Figure 3. North America Green Hydrogen Market – Ecosystem Analysis
Figure 4. North America Green Hydrogen Market – Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. North America Green Hydrogen Market Share, By Region (US$ Mn), 2020 and 2030
Figure 7. North America Green Hydrogen Market Revenue (US$ Mn), 2020 – 2030
Figure 8. North America Green Hydrogen Market Revenue Share, By Function (2022 and 2030)
Figure 9. Chemicals: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 10. Power: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 11. Food and Beverages: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 12. Medical: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 13. Petrochemicals: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 14. Others: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 15. North America Green Hydrogen Market Revenue Share, By Renewable Source (2022 and 2030)
Figure 16. Wind Energy: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 17. Solar Energy: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 18. North America Green Hydrogen Market Revenue Share, By Technology (2022 and 2030)
Figure 19. Alkaline Electrolysis: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 20. PEM Electrolysis: North America Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 21. North America Green Hydrogen Market, by Key Country- Revenue (2022) (US$ Million)
Figure 22. North America Green Hydrogen Market , by Key Country- Revenue Share, By Key Country (2022 and 2030)
Figure 23. US: North America Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 24. Canada: North America Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. Mexico: North America Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. Company Positioning & Concentration
The List of Companies – North America 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 Orsted AS
o Siemens Energy AG
o Toshiba Energy Systems & Solutions Corp
o Uniper SE
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