United States Green Hydrogen market is anticipated to grow at significantly rate in forecast period of 2028. According to a report by the Department of Energy's National Renewable Energy Laboratory (NREL), the United States has the potential to produce more than 17 million metric tons of green hydrogen annually by 2050, which would require approximately 2,500 GW of renewable energy capacity.
The green hydrogen market in the United States is currently in its early stages of development but is expected to grow rapidly in the coming years due to increasing interest in decarbonizing various industries and reducing greenhouse gas emissions. Green hydrogens are produced through the electrolysis of water using renewable energy sources such as wind or solar power. Green Hydrogen has the huge potential to replace fossil fuels in a wide range of applications, from transportation to industrial processes. Currently, there are several green hydrogen projects underway in the United States, including the development of hydrogen fuel cell electric vehicles, the installation of hydrogen refueling stations, and the use of hydrogen in industrial processes such as steel production. Additionally, several states, including California and New York, have established targets for the deployment of hydrogen fuel cell electric vehicles and the production of green hydrogen. The growth of the green hydrogen market in the United States is also being supported by federal and state policies and incentives, such as tax credits, grants, and loan programs, aimed at promoting the development and deployment of renewable energy technologies. Hence, United States green hydrogen market is expected to show significant growth in the upcoming years as more industries and policymakers recognize the potential benefits of this clean energy source.
The Paris Agreement, signed by 197 countries in 2015, set a goal of limiting global warming to well below 2 degrees Celsius above pre-industrial levels, with a target of limiting warming to 1.5 degrees Celsius.
Rising Deployment of Renewable Energy Sources are Market Driving Factors
Growing Use of Green Hydrogen as Energy Storage Solutions is Market Growing Factor
DOE's Hydrogen and Fuel Cell Technologies Office has several programs focused on advancing the development and commercialization of hydrogen and fuel cell technologies.
Recent Developments
- Air Products is developing a green hydrogen production facility in Louisiana, which will have a capacity of 1.2 gigawatts and produce over 30 tons of green hydrogen per day. The facility is expected to be operational by 2025 and will primarily serve customers in the Gulf Coast region.
- Plug Power's "Green Hydrogen Production Plant"Plug Power is building a green hydrogen production plant in Rochester, New York, which will have a capacity of 45 tons per day. The plant will primarily serve Plug Power's customers in the material handling and transportation industries and is expected to be operational by 2022.
- Nel Hydrogen's "Herning Hydrogen Hub"Nel Hydrogen is developing a green hydrogen production facility in Herning, Denmark, which will be powered by wind energy. The facility will have a capacity of 10 megawatts and produce 1,000 kilograms of green hydrogen per day. Nel Hydrogen is also planning to build a similar facility in the USA.
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Market Segmentation
Company Profiles
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million, Volume in Metric Tonnes, and
CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue forecast,
volume forecast, company share, competitive landscape, growth factors, and
trends
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Segments covered
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Electrolyser Technology
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Application
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Source
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Regional scope
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Northern
& Eastern, Middle & Western, Southern, Western
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Key companies profiled
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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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Customization scope
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10% free report customization with purchase.
Addition or alteration to country, regional & segment scope.
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Pricing and purchase
options
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Avail customized
purchase options to meet your exact research needs.
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Delivery Format
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PDF
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