Clean Hydrogen Market, By Product Type (Alkaline electrolyzer, PEM electrolyzer, SOE electrolyzer), End User (Transport, Power generation, Industrial, Others), By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
REPORT HIGHLIGHT
Clean Hydrogen Market size was valued at USD 3,804.2 Million in 2022, expanding at a CAGR of 14.7% from 2023 to 2030.
Clean hydrogen encompasses a broad definition that encompasses different variations based on the carbon emissions associated with its production process. Both blue and green hydrogen are considered clean as they exhibit lower or zero carbon emissions during production. Hydrogen, being abundant in nature, can be produced through various sources such as fossil fuels, natural gas (e.g., methane), hydrocarbons, renewable sources, and electrolysis, which involves the separation of water molecules. Depending on the specific production method employed, hydrogen can be categorized as grey, black/brown, blue, green, or even pink.
Clean Hydrogen Market- Market Dynamics
Increase in demand for clean hydrogen due to rising environmental concerns is expected to propel the market demand
Clean hydrogen holds immense potential for a wide range of applications, including power generation, building, industry, and transportation. Its clean nature makes it a promising substitute for fossil fuels in these sectors. As a result, substantial growth is expected in the adoption of clean hydrogen across various industries. Clean hydrogen is anticipated to play a crucial role in reducing carbon dioxide emissions, thereby aiding in global temperature reduction. Many European countries have set ambitious targets to become carbon neutral by 2050 due to the escalating global temperature. Clean hydrogen presents a viable alternative to fossil fuels, natural gas, and oil. The clean hydrogen market is witnessing increased cost competitiveness, making it more attractive for adoption. With its extensive range of applications and associated benefits, the clean hydrogen market is expected to experience robust growth in the coming years. Government policies are also playing a vital role in supporting the expansion of the clean hydrogen market.
Clean Hydrogen Market- Key Insights
- As per the analysis shared by our research analyst, the global Clean Hydrogen market is estimated to grow annually at a CAGR of around 14.7% over the forecast period (2023-2030)
- The Clean Hydrogen industry is projected to grow at a significant rate due to Increase in demand for clean hydrogen due to rising environmental concerns
- Based on product type, Alkaline electrolyzer was predicted to show maximum market share in the year 2022
- Based on end user, transport was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Clean Hydrogen Market- Segmentation Analysis:
The Global Clean Hydrogen Market is segmented on the basis of Product Type, End User, and Region.
The market is divided into three categories based on Product Type: Alkaline electrolyzer, PEM electrolyzer, SOE electrolyzer. In 2023, the alkaline electrolyzer method is anticipated to capture a significant market share. This method is favored for hydrogen production due to its simplicity and ability to generate 99.9% pure gas during the process. The alkaline electrolyzer technique is experiencing rapid growth primarily because it offers a cost-effective production compared to other electrolyzers. It utilizes nickel-coated stainless steel and robust zirconium dioxide-based diaphragms, further enhancing its durability and efficiency.
The market is divided into four categories based on End User: Transport, Power generation, Industrial, Others. Among these sectors, the transportation sector is projected to hold the largest share and experience significant growth during the forecast period. In selected countries, there are companies actively selling hydrogen cars, contributing to the increasing adoption of hydrogen in the transportation industry. The demand for hydrogen vehicles is expected to grow in other nations as well, further bolstering the growth of the transportation sector within the clean hydrogen market.
Clean Hydrogen Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Clean Hydrogen Market- Competitive Landscape:
In order to gain a significant market share in the clean hydrogen market, companies are adopting various strategies. Research and development efforts are focused on advancing technologies for hydrogen production, storage, and utilization. Companies are also forming strategic partnerships and collaborations to leverage expertise and resources. Additionally, they are actively engaging with governments and participating in policy discussions to shape the regulatory environment and secure supportive frameworks for clean hydrogen. Market expansion is pursued through the establishment of supply chains, infrastructure development, and investment in production facilities. Companies are also investing in marketing and awareness campaigns to promote the benefits of clean hydrogen and educate customers about its potential applications.
Recent Developments:
- In May 2022, Advik Hi-Tech and Pure Hydrogen have formed a new joint venture (JV) in India with the objective of producing hydrogen fuel. This partnership specifically targets the heavy vehicle market in India, aiming to provide green hydrogen fuel and hydrogen fuel cell vehicles (HFCEVs). The goal is to contribute to the reduction of emissions and costs associated with heavy vehicles by offering sustainable hydrogen-based solutions. By leveraging Advik Hi-Tech\'s expertise and Pure Hydrogen\'s knowledge in hydrogen fuel production, this JV aims to support the adoption of clean transportation technologies in India\'s heavy vehicle sector.
- In July 2023, CPP Investments announced partnership With Power2X to Invest in Green Hydrogen
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CLEAN HYDROGEN MARKET KEY PLAYERS
- Air Products Inc
- Clean Hydrogen System
- Cummins Inc
- Toshiba Energy System & Solution Corporation
- Nel ASA
- SGH2 Energy
- SunGreenH2
- Lindeplc
- Air Liquide
- Engie
GLOBAL CLEAN HYDROGEN MARKET, BY PRODUCT TYPE
- Alkaline electrolyzer
- PEM electrolyzer
- SOE electrolyzer
GLOBAL CLEAN HYDROGEN MARKET, BY END USER
- Transport
- Power generation
- Industrial
- Others
GLOBAL CLEAN HYDROGEN MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA
TABLE OF CONTENT
1. Clean Hydrogen Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Clean Hydrogen Market Snippet by Product Type
2.1.2. Clean Hydrogen Market Snippet by End User
2.1.3. Clean Hydrogen Market Snippet by Country
2.1.4. Clean Hydrogen Market Snippet by Region
2.2. Competitive Insights
3. Clean Hydrogen Key Market Trends
3.1. Clean Hydrogen Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Clean Hydrogen Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Clean Hydrogen Market Opportunities
3.4. Clean Hydrogen Market Future Trends
4. Clean Hydrogen Industry Study
4.1. PEST Analysis
4.2. Porter’s Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Clean Hydrogen Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Clean Hydrogen Market Landscape
6.1. Clean Hydrogen Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players’ Analysis
6.2.2. Emerging Players’ Analysis
7. Clean Hydrogen Market – By Product Type
7.1. Overview
7.1.1. Segment Share Analysis, By Product Type, 2022 & 2030 (%)
7.1.2. Alkaline electrolyzer
7.1.3. PEM electrolyzer
7.1.4. SOE electrolyzer
8. Clean Hydrogen Market – By End User
8.1. Overview
8.1.1. Segment Share Analysis, By End User, 2022 & 2030 (%)
8.1.2. Transport
8.1.3. Power generation
8.1.4. Industrial
8.1.5. Others
9. Clean Hydrogen Market– By Geography
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
9.2. North America
9.2.1. Overview
9.2.2. Clean Hydrogen Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.2.4. North America Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.2.5. North America Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.2.6.3. U.S. Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.2.6.4. U.S. Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.2.7.3. Canada Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.2.7.4. Canada Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.3. Europe
9.3.1. Overview
9.3.2. Clean Hydrogen Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.3.4. Europe Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.3.5. Europe Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.6.3. Germany Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.3.6.4. Germany Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.7.3. Italy Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.3.7.4. Italy Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.8.3. United Kingdom Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.3.8.4. United Kingdom Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.9.3. France Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.3.9.4. France Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.3.10. Russia
9.3.10.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.10.2. Russia Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.3.10.3. Russia Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.3.11. Netherlands
9.3.11.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.11.2. Netherlands Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.3.11.3. Netherlands Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.3.12. Sweden
9.3.12.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.12.2. Sweden Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.3.12.3. Sweden Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.3.13. Poland
9.3.13.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.13.2. Poland Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.3.13.3. Poland Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.3.14. Rest of Europe
9.3.14.1. Overview
9.3.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.3.14.3. Rest of the Europe Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.3.14.4. Rest of the Europe Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Clean Hydrogen Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.4.4. Asia Pacific Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.4.5. Asia Pacific Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.6.3. India Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.4.6.4. India Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.7.3. China Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.4.7.4. China Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.8.3. Japan Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.4.8.4. Japan Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.4.9. South Korea
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.9.3. South Korea Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.4.9.4. South Korea Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.4.10. Australia
9.4.10.1. Overview
9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.10.3. Australia Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.4.10.4. Australia Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.4.11. Thailand
9.4.11.1. Overview
9.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.11.3. Thailand Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.4.11.4. Thailand Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.4.12. Indonesia
9.4.12.1. Overview
9.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.12.3. Indonesia Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.4.12.4. Indonesia Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.4.13. Philippines
9.4.13.1. Overview
9.4.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.13.3. Philippines Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.4.13.4. Philippines Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.4.14. Rest of APAC
9.4.14.1. Overview
9.4.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.4.14.3. Rest of APAC Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.4.14.4. Rest of APAC Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.5. Latin America
9.5.1. Overview
9.5.2. Clean Hydrogen Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.5.4. Latin America Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.5.5. Latin America Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.6.3. Brazil Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.5.6.4. Brazil Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.7.3. Mexico Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.5.7.4. Mexico Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.8.3. Argentina Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.5.8.4. Argentina Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.5.9. Colombia
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.9.3. Colombia Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.5.9.4. Colombia Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.5.10. Rest of LATAM
9.5.10.1. Overview
9.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.5.10.3. Rest of LATAM Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.5.10.4. Rest of LATAM Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Clean Hydrogen Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
9.6.4. Middle East and Africa Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.6.5. Middle East and Africa Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.6.6.4. Saudi Arabia Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.7.3. United Arab Emirates Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.6.7.4. United Arab Emirates Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.6.8. Israel
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.8.3. Israel Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.6.8.4. Israel Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.6.9. Turkey
9.6.9.1. Overview
9.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.9.3. Turkey Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.6.9.4. Turkey Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.6.10. Algeria
9.6.10.1. Overview
9.6.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.10.3. Algeria Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.6.10.4. Algeria Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.6.11. Egypt
9.6.11.1. Overview
9.6.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.11.3. Egypt Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.6.11.4. Egypt Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
9.6.12. Rest of MEA
9.6.12.1. Overview
9.6.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2018 - 2030, (US$ Million)
9.6.12.3. Rest of MEA Market Size and Forecast, By Product Type, 2018 - 2030 (US$ Million)
9.6.12.4. Rest of MEA Market Size and Forecast, By End User, 2018 - 2030 (US$ Million)
10. Key Vendor Analysis- Clean Hydrogen Industry
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. Air Products Inc
10.2.2. Clean Hydrogen System
10.2.3. Cummins Inc
10.2.4. Toshiba Energy System & Solution Corporation
10.2.5. Nel ASA
10.2.6. SGH2 Energy
10.2.7. SunGreenH2
10.2.8. Lindeplc
10.2.9. Air Liquide
10.2.10. Engie
11. 360 Degree Analyst View
12. Appendix
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
