Clean Hydrogen Market Size, Growth, Trends, Report 2023-2032
The global clean hydrogen market size was estimated at around USD 1.69 billion in 2022 and it is projected to hit around USD 8.4 billion by 2032, growing at a CAGR of 17.39% from 2023 to 2032.
Key Pointers
Report Scope of the Clean Hydrogen Market
| Report Coverage | Details |
| Market Size in 2022 | USD 1.69 billion |
| Revenue Forecast by 2032 | USD 8.4 billion |
| Growth rate from 2023 to 2032 | CAGR of 17.39% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | Air Products Inc, Clean Hydrogen System, Cummins Inc, Toshiba Energy System & Solution Corporation, Nel ASA, SGH2 Energy, SunGreenH2, Lindeplc, Air Liquide, Engie |
Clean Hydrogen could help us achieve the net zero goal as it helps in carbon sequestration and generation of clean hydrogen. Clean hydrogen is valuable for its ability to be stored and used as clean fuel without direct GHG gas or pollutants emissions and there are a wide variety of clean production pathways for its production. Hydrogen gas can be of three types: grey, blue, and green, depending on its production pathway. Grey hydrogen is the most carbon intensive and is based on fuel processes and hydrocarbon feedstock which is typically natural gas used for steam-methane-reforming (SMR) or autothermal reforming and sometimes coal gasification. Lower carbon intense pathways are blue and green hydrogen. Blue Hydrogen is a conventional natural gas-based hydrogen production process (SMR or ATR) using carbon capture, whereas green hydrogen is the production of hydrogen by water electrolysis, so the electricity is sourced from zero carbon (renewable) energies.
Key factors influencing the growth of this market include increasing awareness about carbon alternatives among people. There is a tremendous increase in greenhouse gases production globally, especially due to industrialization. This leads to the emission of the greenhouse gases like methane, carbon dioxide, nitrous oxide which are responsible for the rising global temperatures. Since the last century, the global temperature of the planet has gone up by 1%. The highest carbon emitters include United States, China, The European Union, and Russia, which together account for 65% of the total carbon emissions. With the advent of Hydrogen Gas, it is the alternative to many applications that currently rely on fossil fuels including transportation, power generation, building, industry, and waste. All these make clean hydrogen a good alternative to fossil fuels soon and thus its expected market growth.
Technology Insights
On the basis of Technology, the market is segmented into Alkaline Electrolyzer, PEM Electrolyzer, and SOE Electrolyzer. The alkaline electrolyzer accounted for the largest market share in the global Clean Hydrogen Market. The alkaline electrolyzer technology is gaining popularity since it is less expensive to produce than other electrolyzers. The technology employs nickel-coated stainless steel and highly strong zirconium dioxide diaphragms. With all of the advantages provided by the alkaline electrolyzer method, the market for this approach is likely to grow throughout the forecast. The PEM Electrolyzer segment is also predicted to have a significant share because it is critical for shifting power inputs in a sensible manner. The electrolyzer’s numerous components include current collectors, flow channels, and a membrane electrode assembly.
End User Insights
On the basis of End User, the market is segmented into Transport, Power Generation, Industrial And Others. The Clean Hydrogen Market has several uses, or end users, such as industrial, power generation, and transportation. The transportation industry is predicted to have the highest share throughout the forecast period and to grow rapidly in near future. Companies that sell hydrogen cars exist in a few select nations. As a result, the usage of hydrogen in transportation is increasing. Many other countries are also moving towards hydrogen vehicles. As the demand for hydrogen vehicles grows in other nations, the transportation industry will witness a significant gain in share.
Regional Insights
On the basis of Region, the Clean Hydrogen Market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Europe accounted for the largest market share in the global Clean Hydrogen Market. Several rich and developing countries are aiming for net zero emissions and decarbonization of their economies. The Clean Hydrogen Market is predicted to develop. Some strict laws are being implemented by nations around the world in order to meet the net zero aim by 2050.
The production of Clean Hydrogen has created an excellent potential to reduce these emissions and lower global temperatures. Numerous countries are attempting to implement Clean Hydrogen in a variety of industries. There is substantial research and development in this industry in order to deliver cost-effective services. The Asia Pacific accounted for the fastest-growing region in the global Clean Hydrogen Market due to the rising demand for Clean Hydrogen from emerging economies such as India and China.
Clean Hydrogen Market Segmentations:
By Technology
By End User
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Clean Hydrogen Market
5.1. COVID-19 Landscape: Clean Hydrogen Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Clean Hydrogen Market, By Technology
8.1. Clean Hydrogen Market, by Technology, 2023-2032
8.1.1. Alkaline electrolyzer
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. PEM electrolyzer
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. SOE electrolyzer
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Clean Hydrogen Market, By End User
9.1. Clean Hydrogen Market, by End User, 2023-2032
9.1.1. Transport
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Power generation
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Industrial
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Clean Hydrogen Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Technology (2020-2032)
10.1.2. Market Revenue and Forecast, by End User (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Technology (2020-2032)
10.1.3.2. Market Revenue and Forecast, by End User (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Technology (2020-2032)
10.1.4.2. Market Revenue and Forecast, by End User (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Technology (2020-2032)
10.2.2. Market Revenue and Forecast, by End User (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Technology (2020-2032)
10.2.3.2. Market Revenue and Forecast, by End User (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Technology (2020-2032)
10.2.4.2. Market Revenue and Forecast, by End User (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Technology (2020-2032)
10.2.5.2. Market Revenue and Forecast, by End User (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Technology (2020-2032)
10.2.6.2. Market Revenue and Forecast, by End User (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Technology (2020-2032)
10.3.2. Market Revenue and Forecast, by End User (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Technology (2020-2032)
10.3.3.2. Market Revenue and Forecast, by End User (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Technology (2020-2032)
10.3.4.2. Market Revenue and Forecast, by End User (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Technology (2020-2032)
10.3.5.2. Market Revenue and Forecast, by End User (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Technology (2020-2032)
10.3.6.2. Market Revenue and Forecast, by End User (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Technology (2020-2032)
10.4.2. Market Revenue and Forecast, by End User (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Technology (2020-2032)
10.4.3.2. Market Revenue and Forecast, by End User (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Technology (2020-2032)
10.4.4.2. Market Revenue and Forecast, by End User (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Technology (2020-2032)
10.4.5.2. Market Revenue and Forecast, by End User (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Technology (2020-2032)
10.4.6.2. Market Revenue and Forecast, by End User (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Technology (2020-2032)
10.5.2. Market Revenue and Forecast, by End User (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Technology (2020-2032)
10.5.3.2. Market Revenue and Forecast, by End User (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Technology (2020-2032)
10.5.4.2. Market Revenue and Forecast, by End User (2020-2032)
Chapter 11. Company Profiles
11.1. Air Products Inc
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Clean Hydrogen System
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Cummins Inc
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Toshiba Energy System & Solution Corporation
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Nel ASA
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. SGH2 Energy
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. SunGreenH2
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Lindeplc
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Air Liquide
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Engie
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers