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Global Clean Hydrogen Market to reach USD 9.81 billion by the end of 2029.

Global Clean Hydrogen Market Size study & Forecast, by Type (Blue Hydrogen and Green Hydrogen), by Method (Electrolysis and Carbon Capture), by Application (Industrial, Transportation, Power and Others) and Regional Analysis, 2022-2029

Product Code: EPRE-34984698
Publish Date: 15-05-2023
Page: 200

Global Clean Hydrogen Market is valued at approximately USD 3.32 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.5% over the forecast period 2022-2029. Hydrogen is an alternative to methane, also known as natural gas. Clean hydrogen is produced with zero emission of carbon dioxide into the environment. Clean hydrogen gas is a great alternative to fossil fuels that will be used in various sectors such as power generation, building, industry, and transportation. The increased demand for clean hydrogen in the transport sector is the key factor responsible for the market growth over the forecast period.

As the demand for fuel cell vehicles increases, the growth of clean hydrogen gas in the transporter sector also increases which raises the market growth. According to the International Energy Agency, in 2021, more than 730 hydrogen refueling stations are open across the world with the rise in global fuel cell electric vehicles and expected to rise to 3000 refilling stations by 2025. Also, the increased awareness regarding carbon emissions and growing industrialization and modernization are creating a lucrative growth prospectus for the market over the forecast period. Moreover, various government policies are supporting the growth of the clean hydrogen market and technological advancements are anticipated to create a positive outlook for the market. However, limited international trade stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Clean Hydrogen Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the Clean Hydrogen Market in terms of revenue share, owing to the increased production of clean hydrogen gas by major players and increasing the demand for clear hydrogen in the automobile and industrial sector. Europe is expected to grow with the highest CAGR during the forecast period, due to increased funding for research and development by key players. For instance-according to the European Union, Europe’s green hydrogen capacity is set to reach 2.7 gigawatts by 2025. And the EU has $4.56 billion of annual funding potential for hydrogen projects in 2021-30.

Major market player included in this report are:
Saudi Aramco
Iberdrola SA
China Petroleum & Chemical Corporation
Linde plc
FuelCell Energy Inc
Air Products & Chemicals Inc
Plug Power Inc.
Orsted A/S
Enel Green Power Spa
Recent Developments in the Market:
➢ In June 2022, Siemens Energy and Air Liquide S.A. formed a joint venture to produce renewable hydrogen electrolyzers to scale the industrial sector. This production is expected to begin in the half of 2023, with a capacity of three gigatons per year by 2025.
Global Clean Hydrogen Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Method, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Blue Hydrogen
Green Hydrogen

By Method:
Carbon Capture

By Application:

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Clean Hydrogen Market, by Region, 2019-2029 (USD Billion)
1.2.2. Clean Hydrogen Market, by Type, 2019-2029 (USD Billion)
1.2.3. Clean Hydrogen Market, by Method, 2019-2029 (USD Billion)
1.2.4. Clean Hydrogen Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Clean Hydrogen Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Clean Hydrogen Market Dynamics
3.1. Clean Hydrogen Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Growing electric Vehicle Sector Increase awareness regarding carbon emission
3.1.2. Market Challenges Limited international trade
3.1.3. Market Opportunities Growing technological advancements Increase in funding for research and development.
Chapter 4. Global Clean Hydrogen Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Clean Hydrogen Market, by Type
6.1. Market Snapshot
6.2. Global Clean Hydrogen Market by Type, Performance – Potential Analysis
6.3. Global Clean Hydrogen Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Clean Hydrogen Market, Sub Segment Analysis Blue Hydrogen Green Hydrogen
Chapter 7. Global Clean Hydrogen Market, by Method
7.1. Market Snapshot
7.2. Global Clean Hydrogen Market by Method, Performance – Potential Analysis
7.3. Global Clean Hydrogen Market Estimates & Forecasts by Method 2019-2029 (USD Billion)
7.4. Clean Hydrogen Market, Sub Segment Analysis
7.4.1. Electrolysis
7.4.2. Carbon Capture
Chapter 8. Global Clean Hydrogen Market, by Application
8.1. Market Snapshot
8.2. Global Clean Hydrogen Market by Application , Performance – Potential Analysis
8.3. Global Clean Hydrogen Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
8.4. Clean Hydrogen Market, Sub Segment Analysis
8.4.1. Industrial
8.4.2. Transportation
8.4.3. Power
8.4.4. Others
Chapter 9. Global Clean Hydrogen Market, Regional Analysis
9.1. Clean Hydrogen Market, Regional Market Snapshot
9.2. North America Clean Hydrogen Market
9.2.1. U.S. Clean Hydrogen Market Type breakdown estimates & forecasts, 2019-2029 Method breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Clean Hydrogen Market
9.3. Europe Clean Hydrogen Market Snapshot
9.3.1. U.K. Clean Hydrogen Market
9.3.2. Germany Clean Hydrogen Market
9.3.3. France Clean Hydrogen Market
9.3.4. Spain Clean Hydrogen Market
9.3.5. Italy Clean Hydrogen Market
9.3.6. Rest of Europe Clean Hydrogen Market
9.4. Asia-Pacific Clean Hydrogen Market Snapshot
9.4.1. China Clean Hydrogen Market
9.4.2. India Clean Hydrogen Market
9.4.3. Japan Clean Hydrogen Market
9.4.4. Australia Clean Hydrogen Market
9.4.5. South Korea Clean Hydrogen Market
9.4.6. Rest of Asia Pacific Clean Hydrogen Market
9.5. Latin America Clean Hydrogen Market Snapshot
9.5.1. Brazil Clean Hydrogen Market
9.5.2. Mexico Clean Hydrogen Market
9.6. Rest of The World Clean Hydrogen Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Saudi Aramco Key Information Overview Financial (Subject to Data Availability) Type Summary Recent Developments
10.2.2. Iberdrola SA
10.2.3. China Petroleum & Chemical Corporation
10.2.4. Linde plc
10.2.5. ExxonMobil
10.2.6. FuelCell Energy Inc
10.2.7. Air Products & Chemicals Inc
10.2.8. Plug Power Inc.
10.2.9. Orsted A/S
10.2.10 Enel Green Power Sp
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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