Green Hydrogen Market Size, Growth Opportunities, Revenue Share Analysis, and Forecast To 2028

Rising carbon-emissions concerns, as well as increased demand for fuel cell electric vehicle manufacturing and power industries, are some of the key factors driving revenue growth.

According to the most recent Emergen Research report, the global green hydrogen market is expected to reach USD 2,565.7 million in 2028, with a revenue CAGR of 14.1% over the forecast period. Rising demand for green hydrogen in the transportation industry, as well as growing concerns about carbon emissions, are driving market revenue growth.

COVID-19 slowed the growth of the green hydrogen market. Projects in the works continued to attract funding. Many European and Asian countries have announced new projects and feasibility studies involving various technologies. The main impact of COVID-19 on the green hydrogen market was that it delayed projects because raw material supplies were disrupted due to lockdowns. The green hydrogen market has finally reached pre-commercialization and is ready to play a critical role in decarbonizing the planet.

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Hydrogen is the most abundant element on the planet, and it holds enormous potential for innovation. It can be used as a fuel or energy source as well as a raw material in the manufacturing industry. Electrolysis technologies are nearing profitability, and fuel-cell systems are already in use. However, in order for hydrogen from power-to-gas facilities to be successfully marketed economically, Germany has set out to create a technologically open legal environment for the widespread use of green hydrogen.

The green hydrogen market will see an increase in revenue as rules and laws favouring green hydrogen in the energy sector become more prevalent. In addition, there are growing environmental concerns about increased carbon emissions from the use of fossil fuels. Furthermore, the growing number of hydrogen integration projects will broaden the global market’s reach. Furthermore, the ability to conveniently store green hydrogen and use it at a later time will propel green hydrogen market growth during the forecast period.

Leading Industry Participants:

AIR LIQUIDE, Engie, Siemens, Royal Dutch Shell PLC, Ballard Power Systems, Plug Power Inc., SGH2 Energy Global LLC, Cummins Inc., Linde, and Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd.

Green Hydrogen Market Segmentation:

Emergen Research has segmented global green hydrogen market on the basis of technology, renewable resources, application, end-use, and region:

Technology Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)

Alkaline Electrolysis

Proton Exchange Membrane (PEM) Electrolysis

Renewable Resources (Revenue, USD Million, Volume, Kilotons; 2018–2028)

Solar Resources

Water Resources

Wind Resources

Application Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)

Power generation



End-use Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)




Grid injection


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