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North America Green Hydrogen Market Trends

Report ID: GMI11437
Published Date: Sep 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of North America green hydrogen was valued at USD 304.8 million in 2023 and is anticipated to grow at a CAGR of 62.2% between 2024 and 2032, driven by the rising demand for sustainable energy solutions, particularly in industrial and transportation sectors.

Proton exchange membrane (PEM) technology is anticipated to surpass USD 8.5 billion by 2032. Its high flexibility, reliable power output, quick response times during fluctuations, and low-temperature operation are key factors driving adoption.

The transportation segment is expected to grow at a CAGR of 55.5% by 2032. The shift toward deploying hydrogen in applications like rail, shipping, aviation, and road transportation is fueled by extensive government investments and the promotion of fuel cell electric vehicles (FCEVs).

Leading players in the North America Green Hydrogen Market include ACME, Air Products, Air Liquide, Cummins, Linde, Siemens Energy, Plug Power, and Toshiba Energy Systems & Solutions Corporation, among others.