Green Hydrogen Market Set to Reach USD 200 billion - A decade of explosive growth ahead at 21% CAGR

Logo EIN Presswire
EIN Presswire
Research Report

DataM Intelligence

Market Intelligence report on Green Hydrogen Market by DataM Intelligence identifies a USD 200 billion opportunity by 2027 and estimates a 21% CAGR till 2027.

Automotive and Transportation will lead the application with governments employing alternative fuels in public transportation. India will emerge as a global hub for Green Hydrogen by 2030.”
— Research Director, Energy and Power DataM Intelligence

The global green hydrogen market is estimated to reach USD 199.436 billion by 2027 growing at a CAGR of 20.9%. The world is undergoing an energy transition towards cleaner fuels, and hydrogen is poised to play an important role in this transition. According to the International Energy Agency (IEA), the current production of hydrogen mainly occurs from chemical and petrochemical sources and is responsible for more than 900 million tonnes of CO emissions annually. Furthermore, according to IEA, the total global hydrogen demand was around 94 million tonnes in 2020 and is expected to increase further to 180 million tonnes by 2030. Hydrogen is sourced from environmentally friendly methods such as electrolysis to reduce carbon emissions. The growth in global green hydrogen production is expected to significantly reduce carbon emissions while expanding the availability of hydrogen for various applications.

One of the major challenges for global market growth has been the high cost of green hydrogen. The high costs are mainly due to the complex technologies involved in the production and relatively low yield. The rating agency ICRA estimates that the levelized cost of green hydrogen production ranges between USD 5.5 to USD 6 per kg. The agency further stated that increasing the competitiveness of green hydrogen against grey hydrogen would require a reduction in capital costs and greater improvements in production technologies. It is estimated that with technological advances and economies of scale, the price of green hydrogen will drop to around USD 1.5 per kg by 2030.

View the complete study here @

Green hydrogen is the primary fuel source for fuel cells in energy production. New technologies are being developed to enhance fuel cell performance and reduce costs. In December 2022, scientists from the Beijing University of Chemical Technology developed a new platinum-cobalt alloy catalyst for fuel cells that generated increased performance while reducing costs. Green hydrogen is also used to power hydrogen fuel cell-based transportation solutions, including passenger cars, commercial vehicles and trains. In August 2022, Germany launched the world's first hydrogen fuel cell train service. In December 2022, China launched its first hydrogen fuel cell train. Many automotive manufacturers are developing and launching new fuel-cell vehicle models. In January 2023, M.G. Motors unveiled its Euniq 7 fuel cell MPV at the AutoExpo India 2023.

One of the major avenues of growth in the global market is the strategies adopted by developing countries such as India. India has identified green hydrogen as a key sustainable fuel to achieve decarbonization goals without impacting economic growth. In January 2023, the government of India earmarked 19,744 crores (USD 2.41 billion) for the national green hydrogen mission to expand green hydrogen production to nearly 5 million tonnes a year by 2030. India is also developing Vande Metro, a series of green hydrogen-powered metro trains expected to start operations by the end of 2023. Developed countries are taking the lead in innovating new solutions. In the U.S, various programs are underway to develop new green hydrogen technologies. In June 2021, the U.S. Department of Energy (DoE) launched the hydrogen earth shot initiative to reduce the cost of green hydrogen to USD 1 per kg by the end of this decade. The market for green hydrogen in North America is expected to reach 7.865 billion by 2027 growing at a CAGR of 22.8%.

The major global green hydrogen market players are mainly multinational energy and chemical companies. Expanding production capacity and developing new green hydrogen technologies are some of the chief strategies employed by the major players to stay competitive in a fast-growing market. Shell is a UK-based diversified multinational energy company developing green hydrogen to augment its energy portfolio. In September 2022, Shell announced the development of new catalyst technologies to purify green hydrogen. Air Products and Chemicals Inc. is an American multinational chemical company. The company announced an investment of USD 500 million to build a new green hydrogen production facility in New York, U.S.


By Technology
- Alkaline Electrolyzer
- Proton Exchange Membrane Electrolyzer
- Solid Oxide Electrolyzer

By Renewable Sources
- Wind Energy
- Solar Energy
- Geothermal
- Hydropower

By Application
- Power Generation
- Transport

By End-User
- Industrial
- Mobility
- Chemical
- Power
- Grid Injection

By Region
North America
- U.S.
- Canada
- Mexico

- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe

South America
- Brazil
- Argentina
- Rest of South America

- China
- India
- Japan
- Australia
- Rest of Asia-Pacific

Middle East and Africa

For Free Sample on Global Green Hydrogen Market, Visit Here:

Sai Kiran
DataM Intelligence 4Market Research LLP
+1 877-441-4866
Visit us on social media:

Continue read on

Logo PR Newswire
EnvironmentPress Release2023-01-24 12:40:00
DUBLIN, Jan. 24, 2023 /PRNewswire/ -- The "Green Hydrogen: Global Market Outlook" report has been added to's offering. In this report,...

Logo EIN Presswire
Emergen Research Logo Rising demand for low emission fuels is a significant factor driving global hydrogen storage tanks market revenue growth Hydrogen...

Logo EIN Presswire
Ethanol Market Industry The Global Ethanol market is projected to grow from USD 111.2 Billion in 2023 and reach USD 186.82 Billion in 2030, at a CAGR of 5.7%...

Logo GlobeNewswire
EconomyPress Release2023-01-24 14:00:00
The growing adoption of electric vehicles worldwide that use rechargeable batteries, such as lithium-ion batteries, is driving the growth of the battery...

Logo PR Newswire
DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Motor Lamination Market by Application (Performance, Comfort, and Safety), Material, Technology, Motor Type (Power...

Logo PR Newswire
DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Mining Waste Management Global Market Report 2022: Ukraine-Russia War Impact" report has been added to...

Logo PR Newswire
DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The "Heating Equipment Global Market Report 2022: Ukraine-Russia War Impact" report has been added to...

Logo GlobeNewswire
EconomyPress Release2023-01-24 11:26:00
The global Oil and Gas EPC market size hit USD 46.60 billion in 2021. The market valuation is expected to increase from USD 49.58 billion in 2022 to USD...

Logo PR Newswire
DUBLIN, Jan. 19, 2023 /PRNewswire/ -- The "Hydrogen Fueling Station Market By Station Type, By Vehicle Type, By Vehicle Technology, By Delivery Methods:...

Logo PR Newswire
DUBLIN, Jan. 24, 2023 /PRNewswire/ -- The "Global Uranium Market (Production, Demand and Balance): Insights & Forecast with Potential Impact of COVID-19...

Business / FinanceBy Anmar Frangoul2023-01-24 10:38:01
Key Points The head of sustainability research at Lombard Odier highlights the huge shifts taking place in the field of low and zero carbon technologies....

Business / FinanceBy Anmar Frangoul2023-01-23 11:54:20
Key Points Produced using electrolysis and renewables like wind and solar, green hydrogen has some high-profile backers. While some are hugely excited about...

Logo EIN Presswire
AutoPress Release2023-01-24 09:10:32
India Automotive Plastics Market India Market Study on Automotive Plastics: North Indian Region to Account for Leading Market Share NEW YORK, UNITED STATES,...

Logo GlobeNewswire
EconomyPress Release2023-01-24 10:23:00
Production Monitoring Market size reached USD 4.36 billion in 2021 and is expected to reach USD 8.50 billion by 2029, growing at a CAGR of 8.7 % during the...

Logo PR Newswire
AutoPress Release2023-01-24 10:00:00
NEW YORK, Jan. 24, 2023 /PRNewswire/ -- According to Technavio, the global automotive aftermarket market size is estimated to grow by USD 164.58 billion from...

Logo PR Newswire
AutoPress Release2023-01-24 02:00:00
NEW YORK, Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the global automotive LED lighting market size is estimated to grow by USD 2,005.77 million...

Logo GlobeNewswire
EconomyPress Release2023-01-24 14:35:00
[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of the Global Electric Aircraft...

Logo PR Newswire
DUBLIN, Jan. 24, 2023 /PRNewswire/ -- The "Electric Vehicle Charging Station Market By Mode of charging, By Charging level, By End User: Global Opportunity...

Logo GlobeNewswire
EconomyPress Release2023-01-24 13:47:00
[115+ Pages Research Study] According to Polaris Market Research report, the global biorational market size & share expected to generate revenue cap of...

Logo PR Newswire
NEW YORK, Jan. 24, 2023 /PRNewswire/ -- According to Technavio, the automotive lead-acid battery market will witness a YOY growth of 2.41% between 2022 and...