Market Size of Green Hydrogen Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 60.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Green Hydrogen Market Analysis
The global green hydrogen market is poised to register a CAGR of over 60% during the forecast period.
In 2020, COVID-19 moderately impacted the overall growth of the green hydrogen industry. However, after the pandemic, the demand for green hydrogen increased in the transportation sector, which, in turn, has propelled the industry's growth.
- The surging demand for green hydrogen in the chemical industry and growing environmental concerns regarding carbon emissions are projected to drive the demand for green hydrogen.
- The high cost of green hydrogen is likely to hinder the overall growth of the industry.
- Favorable policies and regulations promoting the usage of green hydrogen are projected to offer new growth opportunities to the market.
- Europe is expected to dominate the green hydrogen market owing to the expanding manufacturing facilities in Germany.
