North America Green Hydrogen Market Size - By Technology (Alkaline, PEM, Solid Oxide), By Source (Solar, Wind), By Application (Power Generation, Transportation, Industry Energy, Industry Feedstock, Building Heat & Power), Country Outlook & Forecast, 2024 – 2032

North America Green Hydrogen Market Size

North America Green Hydrogen Market was valued at USD 304.8 million in 2023 and is anticipated to grow at a CAGR of 62.2% from 2024 to 2032. Green hydrogen is hydrogen produced through the electrolysis of water, where the electricity used in the process comes from renewable energy sources such as wind, solar, or hydroelectric power. This method ensures that the production of hydrogen does not emit carbon dioxide or other greenhouse gases, making it an environmentally friendly alternative to traditional hydrogen production methods.
 

Ongoing deployment of green hydrogen across various sectors including industrial, transportation, aviation and mobility on account of its storability, transportability and viability will enhance the industry demand. Introduction of strict government mandates, norms and plans to address the rising greenhouse gas emissions along with significant measures to reduce the dependency on fossil-based energy supply will stimulate the industry dynamics. Furthermore, extensive large-scale deployment of clean hydrogen owing to its versatility as an energy carrier along with increasing shift to achieve the energy transition will accelerate the industry dynamics.

Paradigm shift toward the adoption of zero emission energy sources along with rising private and public sector investments toward the advancement of zero emission hydrogen production technologies has increased the deployment of green hydrogen which will positively impact the industry statistics. Furthermore, growing adoption of hydrogen as a clean fuel source across several sectors will complement the product penetration. Shifting focus to lower the use of conventional fuel sources owing to surging greenhouse gas emissions along with continuous introduction of various grants, initiatives and exemptions by the government bodies to adopt zero emission fuel sources will boost the industry statistics.
 

North America Green Hydrogen Market Trends

Robust research and development activities along with technological advancements including the innovative & efficient solutions for green hydrogen production will stimulate the industry trend. Closed cooperation among the major industry players to increase the production of clean hydrogen will positively impact the business dynamics. Additionally, growing demand to decarbonize various sectors along with stringent government measures to address the rising emissions will boost the business scenario. Shifting focus to produce low cost & efficient production of clean hydrogen along with increasing number of manufacturing facilities to build the hydrogen economy across various economies will enhance the growth of industry.
 

North America Green Hydrogen Market Analysis

Based on technology, the PEM segment is anticipated to cross more than USD 8.5 billion by 2032. Desirable power reliability, high flexibility, high production rate, low temperature operation, compact design and quick response during the time of fluctuations will positively impact the technology adoption. Growing development of various projects along with significant government fundings will foster the PEM industry growth.
 

Based on application, the transportation segment is anticipated to grow more than 55.5% CAGR through 2032. Continuous government investments to reduce carbon emissions along with extensive measures to increase the adoption of FCEVs will boost the business scenario. Increasing shift toward the deployment of hydrogen in various applications including rail, shipping, road, aviation and other transport activities will significantly fuel the industry statistics.
 

The U.S. green hydrogen market is set to reach more than USD 37.1 billion by 2032. Robust government investments along with extensive development of green hydrogen projects across the region will stimulate the industry statistics. The availability of low cost and low carbon electricity in line with strategic alliances among the emerging nations will positively impact industry growth. In addition, favorable government measures and initiatives to reduce carbon emissions across the region will stimulate the source demand. The market will grow on account of ongoing development of programs by various government bodies targeting toward the adoption of clean hydrogen will stimulate the business dynamics.
 

North America Green Hydrogen Market Share

Strategic partnerships, acquisition and mergers among the leading players along with extensive development of projects through closed collaborations will sway the business scenario. Many companies are entering partnerships, such as Plug Power’s collaborations with companies like Brookfield Renewable for renewable energy sourcing, and SK Group for large-scale green hydrogen initiatives. Firms like NextEra Energy and other utility players are investing in hydrogen projects, leveraging their renewable energy portfolios to support green hydrogen production.
 

North America Green Hydrogen Market Companies

Eminent players operating in the North America green hydrogen industry are:

• ACME
• Air Products
• Air Liquide
• CWP Global
• Cummins
• Engie
• Getech Group
• GH2
• Hiringa Energy Limited
• Iberdrola
• Linde
• Lhyfe
• Plug Power
• Siemens Energy
• Toshiba Energy Systems & Solutions Corporation
   

North America Green Hydrogen Industry News

• In March 2024, the U.S. Department of Energy allotted USD 750 Million to green hydrogen projects across 24 states that are capable of building capacity to produce and use clean hydrogen. Further, the country aims to produce 10 million metric tonnes of green hydrogen per year by 2030.
   
• In June 2022, Air Liquide built and developed a new hydrogen facility in North Las Vegas, Nevada. The plant further signifies a USD 250 million investment to meet the growing demand of industry. Further, the plant will serve California’s mobility market, to supply the California HFCEV drivers with renewable hydrogen. 
   

This North America green hydrogen market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Million & MW” from 2021 to 2032, for the following segments:

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Market, By Technology

• Alkaline
• PEM
• Solid Oxide
• Others

Market, By Source

• Solar
• Wind
• Others

Market, By Application

• Power Generation
• Transportation
• Industry Energy
• Industry Feedstock
• Building Heat & Power
• Others

The above information has been provided for the following countries:

• U.S.
• Canada