Clean Hydrogen Market Size, Outlook, industry Demand, Report 2023-2028

The latest research study “Clean Hydrogen Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global clean hydrogen market size reached US$ 1.46 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.51 Billion by 2028, exhibiting a growth rate (CAGR) of 15.69% during 2023-2028.

Clean hydrogen represents hydrogen gas variants that are derived through sustainable procedures and are instrumental in decreasing the level of carbon emissions. They involve both blue hydrogen gas produced from natural gas in conjunction with carbon capture and storage (CSS) by steam methane reforming and green hydrogen gas obtained through electrolysis powered from renewable sources. The main advantages of clean hydrogen gases include the availability of an extensive range of clean production pathways and the ability to produce and consume clean fuels without creating direct greenhouse gas (GHG) or pollutants emissions. Consequently, they find extensive applications across several sectors, such as chemicals, power generation, automobiles, heavy machinery, transport, etc. 

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Clean Hydrogen Market Trends and Drivers:

The shifting preferences toward carbon alternative fuels and the growing concerns about increased carbon emissions from fossil fuel usage are primarily driving the clean hydrogen market. In addition to this, the launch of numerous favorable initiatives and policies by government bodies across the globe aimed at supporting the hydrogen economy is acting as another significant growth-inducing factor. Apart from this, the elevating demand for clean hydrogen to charge fuel cell vehicles (FCV) for curbing emissions from automobiles and reducing air pollution is also positively influencing the global market. Moreover, the inflating fuel prices and the escalating awareness about fossil fuel depletion, global warming, and climate change among the masses are further augmenting the market growth. Besides this, rising expenditure on research and development (R&D) activities to introduce advanced technologies for enhancing the production of hydrogen is expected to propel the clean hydrogen market over the forecasted period.

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Clean Hydrogen Market Report Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Air Liquide S.A., Air Products and Chemicals Inc., Cummins Inc., Enapter S.r.l., Engie SA, Green Hydrogen Systems, Linde plc, Nel ASA, Plug Power Inc., SG H2 Energy Global LLC, Siemens Energy AG, SunGreenH2

Breakup by Technology:

• Alkaline Electrolyzer
• PEM Electrolyzer
• SOE Electrolyzer

Breakup by End User:

• Transport
• Power Generation
• Industrial
• Others

By Geography:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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