According to TechSci Research report, “United States Green Hydrogen Market– Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, United States Green Hydrogen market is anticipated to grow at significantly rate in forecast period of 2028. Green Hydrogen are used in a wide range of industries, such as healthcare, electronics, aerospace, construction, energy & power, and others. The increasing demand for energy storage is driving the growth of the green hydrogen market, as green hydrogen has the potential to provide clean and efficient energy storage solutions that can be used in conjunction with renewable energy sources to provide reliable and sustainable power.
One of the challenges associated with the production of green hydrogen is the cost of renewable electricity, which is currently higher than the cost of electricity generated from fossil fuels in many regions. However, as the cost of renewable energy continues to decline, the production of green hydrogen is becoming increasingly cost-competitive. Hence, these factors are creating significant impact on the buyer’s buying behavior and impeding the market growth of United States Green Hydrogen market growth in the forecasted period.
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United States Green Hydrogen Market is segmented based on product type and mode of distribution.
Based on the electrolyser technology, the market is divided into PEM, and alkaline. Alkaline is expected to hold the largest market share in the forecast period as it can be configured in large stacks, and are known for their long-term stability and lifetime.
Based on the application, the market is divided into power generation, transportation, industry feedstock, and others. Power generation is expected to hold the largest market share in the forecast period2028. Owing to growing demand of power and government focus on sustainable source-based energy or fuel, the need of green hydrogen is growing to generate more energy in efficiently.
Market Segmentation
The United States Green Hydrogen Market can be segmented based on technology, application, and region.
By Technology
- Alkaline Electrolyzer
- Proton Exchange Membrane (PEM) Electrolyzer
- Solid Oxide Electrolyzer
By Application
- Power Generation
- Transportation
- Industrial Processes
- Residential and Commercial Heating
Key Players
Major companies operating in the United States Green Hydrogen Market include:
- Plug Power Inc.
- A leader in the green hydrogen sector, Plug Power provides comprehensive hydrogen fuel cell solutions.
- Bloom Energy
- Specializes in solid oxide fuel cells and is expanding its footprint in green hydrogen production.
- Air Products and Chemicals, Inc.
- A significant player in the industrial gases market, Air Products is investing heavily in green hydrogen projects.
- NextEra Energy Resources, LLC
- A major renewable energy company, NextEra is exploring green hydrogen as part of its clean energy portfolio.
- Linde plc
- A global industrial gas company, Linde is involved in several green hydrogen initiatives in the U.S.
Regional Analysis
North America
The United States is a prominent player in the North American green hydrogen market. Key regions driving growth include California, Texas, and the Northeastern states, where substantial investments in renewable energy infrastructure and supportive policies are prevalent.
Challenges
High Production Costs
Despite the declining costs of renewable energy, the production of green hydrogen remains expensive compared to traditional hydrogen production methods. Continued technological advancements and economies of scale are necessary to make green hydrogen more cost-competitive.
Infrastructure Development
The lack of adequate infrastructure for hydrogen production, storage, and distribution is a significant challenge. Investments in hydrogen refueling stations and pipeline networks are crucial for market expansion.
Regulatory and Safety Standards
Developing comprehensive regulatory frameworks and safety standards for hydrogen production, transportation, and usage is essential to ensure safe and efficient market operations.
Future Outlook
The United States Green Hydrogen Market is expected to grow substantially over the forecast period from 2024 to 2029. Increasing investments in renewable energy, supportive government policies, and the push for decarbonization across various industries will be key drivers of this growth. Technological innovations and strategic collaborations among key players will further accelerate market development.
Major companies operating in the United States Green Hydrogen Market are:
- Iberdrola, S.A.
- Bloom Energy Corp.
- Plug Power Inc.
- Air Liquide
- Siemens Energy
- Air Products Inc.
- GKN Hydrogen
- Linde plc
- Cummins Inc.
- Getech Group plc
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“The increasing deployment of renewable energy sources is a critical component of the transition to a low-carbon economy and is closely linked to the growth of the green hydrogen market. The integration of these two areas has the potential to significantly reduce greenhouse gas emissions and support decarbonization efforts across various sectors. This led to increase in demand of Green Hydrogen in the United States of America.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
United States Green Hydrogen Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Electrolyser Technology (PEM, and Alkaline), By Application (Power Generation, Transportation, Industry Feedstock, and Others), By Source (Solar, and Wind), By Region and Competition, 2028, has evaluated the future growth potential of United States green hydrogen market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States green hydrogen market.”
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