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Green Hydrogen Supply Chain Market Growth, Key Players, and Emerging Trends

Rutuja Borkar
Green Hydrogen Supply Chain Market

Green Hydrogen Supply Chain Market Overview

The green hydrogen supply chain market is experiencing significant growth, driven by factors such as global decarbonization efforts, technological advancements in electrolysis, supportive government policies, and increasing investments from both public and private sectors.​

What is the Green Hydrogen Supply Chain Market?

Green hydrogen refers to hydrogen produced through the electrolysis of water using renewable energy sources like wind, solar, or hydroelectric power, resulting in a clean energy carrier with minimal carbon emissions. The green hydrogen supply chain encompasses the entire process from production to end-use, including:​

Why is it Important?

The importance of the green hydrogen supply chain lies in its potential to significantly reduce greenhouse gas emissions across multiple sectors. As a versatile energy carrier, green hydrogen can decarbonize industries that are challenging to electrify, such as heavy manufacturing and long-haul transportation. Additionally, it offers a means to store excess renewable energy, enhancing grid stability and energy security.
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Key Companies in the Green Hydrogen Supply Chain Market

  1. Air Products and Chemicals, Inc.

    • Specialization: Industrial gases and related equipment.​

    • Key Focus Areas: Production and distribution of green hydrogen, development of hydrogen fueling infrastructure.​

    • Notable Features: Partnered in the NEOM Green Hydrogen Project in Saudi Arabia, aiming to produce 600 tons of green hydrogen daily by 2026.

    • 2024 Revenue (approx.): $12 billion.​

    • Market Share (approx.): 15%.​

    • Global Presence: Operations in over 50 countries.​

  2. Plug Power

    • Specialization: Hydrogen fuel cell systems.​

    • Key Focus Areas: Development of green hydrogen production facilities, fuel cell solutions for material handling and transportation.​

    • Notable Features: Plans to produce 500 tons of green hydrogen daily by 2025 in the U.S.​

    • 2024 Revenue (approx.): $1.7 billion.​

    • Market Share (approx.): 5%.​

    • Global Presence: Expanding operations in North America and Europe.​

  3. Siemens Energy

    • Specialization: Energy technology solutions.​

    • Key Focus Areas: Development of electrolyzers for green hydrogen production, integration of renewable energy systems.​

    • Notable Features: Collaborated on projects aiming to integrate green hydrogen into industrial processes.​

    • 2024 Revenue (approx.): $35 billion.

    • Market Share (approx.): 10%.​

    • Global Presence: Operations in over 90 countries.​

  4. Nel ASA

    • Specialization: Hydrogen production technology.​

    • Key Focus Areas: Manufacturing of electrolyzers, development of hydrogen fueling stations.​

    • Notable Features: Established the world’s largest electrolyzer manufacturing plant with a capacity of 1 GW per annum.​

    • 2024 Revenue (approx.): $0.8 billion.​

    • Market Share (approx.): 3%.​

    • Global Presence: Projects and installations across Europe, North America, and Asia.​

  5. Linde plc

    • Specialization: Industrial gases and engineering.​

    • Key Focus Areas: Production and distribution of green hydrogen, development of hydrogen infrastructure.​

    • Notable Features: Invested in ITM Power to enhance electrolyzer production capabilities.​

    • 2024 Revenue (approx.): $33.4 billion.​

    • Market Share (approx.): 20%.​

    • Global Presence: Operations in over 100 countries.​

Leading Trends and Their Impact

  1. Technological Advancements

    Innovations in electrolyzer technology are enhancing efficiency and reducing costs, making green hydrogen more competitive with traditional energy sources. Companies are investing in research and development to scale up production and improve the durability of electrolyzers.

  2. Strategic Partnerships and Investments

    Collaborations between energy companies, technology providers, and governments are accelerating the development of green hydrogen projects. Joint ventures and strategic investments are facilitating knowledge sharing and resource pooling, leading to the rapid expansion of infrastructure.

  3. Policy Support and Regulatory Frameworks

    Governments worldwide are implementing policies and incentives to promote green hydrogen adoption. These include subsidies, tax credits, and the establishment of hydrogen strategies outlining long-term goals and support mechanisms.

  4. Expansion of Hydrogen Infrastructure

    The development of hydrogen refueling stations and pipelines is critical for market growth. Infrastructure expansion ensures the availability of green hydrogen for various applications, particularly in transportation and industry.

Successful Examples Around the World

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