North America Green Hydrogen Market Demand and Trends by Forecast to 2030

The North America green hydrogen market is expected to grow from US$ 1,291.07 million in 2022 to US$ 29,410.58 million by 2030. It is estimated to grow at a CAGR of 47.8% from 2022 to 2030.

The global push towards net-zero emissions by 2050 is significantly boosting the North American green hydrogen market. Green hydrogen, produced through electrolysis powered by renewable energy, holds immense potential across diverse sectors like transportation, chemicals, power, petrochemicals, and food & beverage. Its applications range from fueling electric vehicles to serving as a clean feedstock for industrial processes and a sustainable energy source for heating and power generation. As industries worldwide strive to decarbonize, green hydrogen emerges as a crucial clean alternative, driving substantial demand. The ambitious net-zero targets set by numerous countries and organizations act as a primary catalyst for this growing North America green hydrogen market.  

North America Green Hydrogen Market Overview

The United States currently produces approximately 10 million metric tons of hydrogen annually, primarily for petroleum refining and ammonia production. However, its potential extends significantly into zero-emission applications across various sectors, including chemical processes, clean energy systems, and transportation. Emerging applications in areas like data centers, ports, steel manufacturing, and medium- to heavy-duty trucks highlight the increasing interest in hydrogen as a sustainable solution.  

In a significant move to accelerate this transition, the Department of Energy (DOE) announced an US$ 8 billion investment in Regional Clean Hydrogen Hubs (H2Hubs) in January 2023, a key component of the Infrastructure Investment and Jobs Act. These H2Hubs are designed to showcase the entire clean hydrogen value chain, encompassing production, processing, delivery, storage, and end-use applications. The DOE's initiative aligns with the Biden Administration's ambitious goals of achieving a carbon-free electric grid by 2035 and a net-zero emissions economy by 2050. This substantial funding aims to propel advancements in hydrogen technology and infrastructure, paving the way for a more sustainable and environmentally responsible future in the US.  

North America green hydrogen market Strategic Insights

Strategic insights for the North America green hydrogen market offer a data-driven analysis of the industry's landscape, encompassing current trends, key players, and regional specificities. These insights provide actionable recommendations, empowering stakeholders to differentiate themselves by identifying untapped market segments or developing unique value propositions. By leveraging data analytics, these insights enable industry players, including investors and manufacturers, to anticipate market shifts. Adopting a future-oriented perspective is vital, allowing stakeholders to foresee market changes and position themselves for sustained success in this dynamic region. Ultimately, effective strategic insights equip readers with the knowledge to make informed decisions that drive profitability and achieve their business objectives within the market.

North America green hydrogen market Regional Insights

The geographic scope of the North America green hydrogen market defines the specific areas where businesses operate and compete. Understanding local nuances, such as varying consumer preferences (for instance, demand for specific plug types or battery backup durations), diverse economic conditions, and differing regulatory environments, is essential for tailoring effective market strategies. Businesses can expand their market presence by identifying underserved regions or adapting their offerings to meet specific local demands. A focused market approach allows for more efficient resource allocation, targeted marketing campaigns, and improved positioning against local competitors, ultimately fostering growth within those specific areas.

Segments Covered

North America green hydrogen market By Technology

• Alkaline Electrolysis and PEM Electrolysis

North America green hydrogen market By Renewable Source

• Wind Energy and Solar Energy

North America green hydrogen market By End-Use Industry

• Chemical

• Power

• Food & Beverages

• Medical

• Petrochemicals

North America green hydrogen market Regions and Countries Covered

North America

• US

• Canada

• Mexico

North America green hydrogen market leaders and key company profiles

• Air Products & Chemicals Inc

• Cummins Inc

• Engie SA

• L’Air Liquide SA

• Linde Plc

• Nel ASA

• Orsted AS

• Siemens Energy AG

• Toshiba Energy Systems & Solutions Corp

• Uniper SE

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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights