At 45.4% CAGR, the Europe Green Hydrogen Market is projected to be worth US$ 29,146.42 million by 2030 says Business Market Insights

According to Business Market Insights research, the Europe green hydrogen market  was valued at US$ 1,456.82 million in 2022 and is expected to reach US$ 29,146.42 million by 2030 registering a CAGR of 45.4% from 2022 to 2030. Rising global plans for net-zero emission by 2050, increasing investments in green hydrogen projects, and increasing demand for FCEV are among the critical factors attributed to the Europe green hydrogen market expansion.        

Governments of various across the globe are recognizing the potential of green hydrogen as a clean and sustainable energy solution. They are taking proactive measures to support its development and deployment across various sectors. The increasing focus on decarbonization and climate change mitigation is prompting governments to prioritize investments in green hydrogen as a means to reduce carbon emissions. For instance, in June 2022, Protium, one of the leading green hydrogen energy companies in the UK that provides end-to-end net-zero energy solutions. Thus, increasing investments in green hydrogen projects are expected to create lucrative opportunities for market expansion in the coming years.

On the contrary, high cost of green hydrogen and associated products and lack of infrastructure hampers the Europe green hydrogen market .  

Based on technology, the Europe green hydrogen market is bifurcated into alkaline electrolysis and PEM electrolysis. The alkaline electrolysis segment held 61.2% share of Europe green hydrogen market  in 2022, amassing US$ 890.91 million. It is projected to garner US$  17,121.63 million by 2030 to expand at 44.7% CAGR during 2022–2030.

By renewable source, the Europe green hydrogen market is divided into wind energy and solar energy. The solar energy segment held 67.8% share of Europe green hydrogen market in 2022, amassing US$ 987.28 million. It is projected to garner US$ 19,060.15 million by 2030 to expand at 44.8% CAGR during 2022–2030.

Based on end use, the Europe green hydrogen market is segmented into chemical, power, food & beverages, medical, petrochemicals, and others. The power segment held 36.2% share of Europe green hydrogen market in 2022, amassing US$ 527.26 million. It is projected to garner US$ 11,328.56 million by 2030 to expand at 46.7% CAGR during 2022–2030.

Based on country, the Europe green hydrogen market  is segmented into Germany, France, Italy, the UK, Russia, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 50.4% share of Europe green hydrogen market in 2022. It was assessed at US$ 734.33 million in 2022 and is likely to hit US$ 15,797.36 million by 2030 exhibiting a CAGR of 46.8% CAGR during 2022–2030.      

Key players operating the Europe green hydrogen market  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, and Uniper SE, among others.

• In 2023, The European Commission presented initiatives to increase the speed and scale-up of the renewable hydrogen industry.

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