Green Hydrogen Market - 57% of Growth to Originate from APAC |Chemicals Segment to be Significant for Revenue Generation | Technavio

NEW YORK, May 11, 2022 -- The green hydrogen market estimates a market value of USD 9.21 billion from 2021 to 2026 as per the latest market report by Technavio. In addition, the report projects the market to progress at a CAGR of  46.14%. 57% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for green hydrogen in APAC. Market growth in this region will be faster than the growth of the market in the European and North American regions. The rise in investments in industries such as chemical, fertilizer, refinery, glass, semiconductor, metal processing, and food will facilitate the green hydrogen market growth in APAC over the forecast period.

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Green Hydrogen Market: Segmentation Analysis

The market research report segments the green hydrogen market by End-user (Chemical, Power, Industrial, and Others) and Geography (APAC, Europe, North America, Middle East, Africa, and South America).

The green hydrogen market share growth in the chemicals segment will be significant for revenue generation. There is a rise in demand by the chemical industry for green feedstock or precursor molecules such as ammonia and methanol that is produced by means of low-CO2 hydrogen and green hydrogen. These green chemicals are converted into high-value end-products for different sectors such as automotive, electronics, and pharmaceuticals. Hence, such factors are expected to drive the growth of the chemical segment in the market during the forecast period. 

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Green Hydrogen Market: Rising industrialization to drive growth

The key factor driving growth in the green hydrogen market is the rising industrialization. The global emission of harmful greenhouse gases is increasing because of the widespread and alarming use of fossil fuels in conjunction with industrialization. Gases such as methane, carbon dioxide, and nitrous oxide play a significant role in raising the temperature of the plant and thereby causing climate change. As the global temperature has risen by nearly one degree Celsius over the last century, environmentalists are urging people to abandon the harmful use of fossil fuels as energy sources and instead demand the widespread use of green hydrogen to counter this situation. Thus, the rising industrialization is expected to drive the growth of the global green hydrogen market during the forecast period.

Green Hydrogen Market: Increasing initiatives by the European governments to be a major trend

The increasing initiatives by the European governments is a market trend that is expected to have a positive impact in the coming years. The emerging green hydrogen economy is supported by initiatives taken by the government in the European Union (EU). For instance, as part of the Green Deal, the EU has defined a hydrogen strategy. In the first phase of the Green Deal, that is, from 2020 up to 2024, the strategic objective was to install at least 6 GW of electrolyzers in the EU and produce up to 1 million tons of green hydrogen. Initiated by a group of European gas transmission system operators (TSOs) in 2020, the European Hydrogen Backbone (EHB) initiative is a proposal for a dedicated hydrogen pipeline network infrastructure that is largely based on the repurposing of existing natural gas pipelines. The overall hydrogen infrastructure is expected to gradually grow to become a pan-European network by achieving a total length of 39,700 km by 2040. Such initiatives are expected to drive the growth of the market during the forecast period.

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Table of Content

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

• 5.1 Market segments
• Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
• Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

• 5.2 Comparison by End-user
• Exhibit 26: Chart on Comparison by End-user
• Exhibit 27: Data Table on Comparison by End-user

• 5.3 Chemical - Market size and forecast 2021-2026
• Exhibit 28: Chart on Chemical - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Chemical - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Chemical - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Chemical - Year-over-year growth 2021-2026 (%)

• 5.4 Power - Market size and forecast 2021-2026
• Exhibit 32: Chart on Power - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Power - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Power - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Power - Year-over-year growth 2021-2026 (%)

• 5.5 Industrial - Market size and forecast 2021-2026
• Exhibit 36: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Industrial - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Industrial - Year-over-year growth 2021-2026 (%)

• 5.6 Others - Market size and forecast 2021-2026
• Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by End-user
• Exhibit 44: Market opportunity by End-user ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026
• Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 North America - Market size and forecast 2021-2026
• Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026
• Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026
• Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026
• Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 Germany - Market size and forecast 2021-2026
• Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.10 US - Market size and forecast 2021-2026
• Exhibit 78: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.11 Japan - Market size and forecast 2021-2026
• Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.12 France - Market size and forecast 2021-2026
• Exhibit 86: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography
• Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 91: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 93: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 94: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 95: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 96: Matrix on vendor position and classification

• 10.3 Air Products and Chemicals Inc.
• Exhibit 97: Air Products and Chemicals Inc. - Overview
• Exhibit 98: Air Products and Chemicals Inc. - Business segments
• Exhibit 99: Air Products and Chemicals Inc. - Key news
• Exhibit 100: Air Products and Chemicals Inc. - Key offerings
• Exhibit 101: Air Products and Chemicals Inc. - Segment focus

• 10.4 Cummins Inc.
• Exhibit 102: Cummins Inc. - Overview
• Exhibit 103: Cummins Inc. - Business segments
• Exhibit 104: Cummins Inc. - Key offerings
• Exhibit 105: Cummins Inc. - Segment focus

• 10.5 Guangdong Nation-Synergy Hydrogen Power Technologies Co. Ltd.
• Exhibit 106: Guangdong Nation-Synergy Hydrogen Power Technologies Co. Ltd. - Overview
• Exhibit 107: Guangdong Nation-Synergy Hydrogen Power Technologies Co. Ltd. - Product / Service
• Exhibit 108: Guangdong Nation-Synergy Hydrogen Power Technologies Co. Ltd. - Key offerings

• 10.6 Indian Oil Corp. Ltd.
• Exhibit 109: Indian Oil Corp. Ltd. - Overview
• Exhibit 110: Indian Oil Corp. Ltd. - Business segments
• Exhibit 111: Indian Oil Corp. Ltd. - Key offerings
• Exhibit 112: Indian Oil Corp. Ltd. - Segment focus

• 10.7 L Air Liquide SA
• Exhibit 113: L Air Liquide SA - Overview
• Exhibit 114: L Air Liquide SA - Business segments
• Exhibit 115: L Air Liquide SA - Key news
• Exhibit 116: L Air Liquide SA - Key offerings
• Exhibit 117: L Air Liquide SA - Segment focus

• 10.8 Larsen and Toubro Ltd.
• Exhibit 118: Larsen and Toubro Ltd. - Overview
• Exhibit 119: Larsen and Toubro Ltd. - Business segments
• Exhibit 120: Larsen and Toubro Ltd. - Key news
• Exhibit 121: Larsen and Toubro Ltd. - Key offerings
• Exhibit 122: Larsen and Toubro Ltd. - Segment focus

• 10.9 Linde Plc
• Exhibit 123: Linde Plc - Overview
• Exhibit 124: Linde Plc - Business segments
• Exhibit 125: Linde Plc - Key news
• Exhibit 126: Linde Plc - Key offerings
• Exhibit 127: Linde Plc - Segment focus

• 10.10 Nel ASA
• Exhibit 128: Nel ASA - Overview
• Exhibit 129: Nel ASA - Business segments
• Exhibit 130: Nel ASA - Key offerings
• Exhibit 131: Nel ASA - Segment focus

• 10.11 Siemens Energy AG
• Exhibit 132: Siemens Energy AG - Overview
• Exhibit 133: Siemens Energy AG - Business segments
• Exhibit 134: Siemens Energy AG - Key news
• Exhibit 135: Siemens Energy AG - Key offerings
• Exhibit 136: Siemens Energy AG - Segment focus

• 10.12 Toshiba Corp.
• Exhibit 137: Toshiba Corp. - Overview
• Exhibit 138: Toshiba Corp. - Business segments
• Exhibit 139: Toshiba Corp. - Key offerings
• Exhibit 140: Toshiba Corp. - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 141: Inclusions checklist
• Exhibit 142: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 143: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 144: Research methodology
• Exhibit 145: Validation techniques employed for market sizing
• Exhibit 146: Information sources

• 11.5 List of abbreviations
• Exhibit 147: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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