Global Green Hydrogen Market Set to Skyrocket to $100-120 Billion by 2025
Key Ideas
  • The global green hydrogen market is forecasted to reach USD 100-120 billion by 2025 with a CAGR of 30-40% until 2030, driven by adoption in mobility, power generation, and industrial sectors.
  • Europe, Asia-Pacific, and the Americas are key regions with growth rates of 32-42%, 35-45%, and 28-38% respectively, spurred by policies, investments, and technological progress.
  • Application-wise, mobility is expected to lead with 35-45% growth, followed by power generation at 30-40%, chemical sector at 25-35%, and other niche applications at 20-30%.
  • Notable players like Nel, ITM Power, and Air Products are pivotal in advancing the green hydrogen market, particularly in regions such as Germany, South Korea, and the U.S.
The global green hydrogen market is on a trajectory to achieve remarkable growth, estimated to soar to USD 100-120 billion by 2025. Projections suggest a robust compound annual growth rate of 30-40% up to 2030, underpinned by expanding usage in mobility, power generation, and industrial applications. Europe, with a growth rate of 32-42%, is propelled by the EU's stringent climate directives and investments in hydrogen infrastructure, with leading countries like Germany and France embracing green hydrogen for industrial decarbonization and renewable energy integration. Similarly, Asia-Pacific anticipates substantial growth of 35-45%, with South Korea and China spearheading advancements in hydrogen technology to align with ambitious climate goals. North America foresees a growth rate of 28-38%, primarily driven by the U.S. with federal support and the commitment of companies like Air Products in promoting green hydrogen adoption in various sectors. Additionally, the Middle East and Africa and South America regions are also poised for significant growth in green hydrogen initiatives. The application analysis indicates that mobility, power generation, chemical sectors, and other niche applications will witness substantial growth rates, highlighting the diverse utility of green hydrogen across industries. Key industry players like Nel, ITM Power, and Air Products play pivotal roles in shaping the market landscape and driving innovation. The future looks promising for the green hydrogen market as it gains traction globally and transforms various sectors towards a more sustainable and environmentally friendly future.
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