North America Green Hydrogen Market Report and Forecast 2025-2034

The North America green hydrogen market size reached approximately USD 1.28 Billion in 2024. The market is estimated to grow at a CAGR of 20.26% in the forecast period of 2025-2034, reaching a value of around USD 8.10 Billion by 2034.

Key Trends in the Market

Green hydrogen refers to hydrogen produced by splitting hydrogen and oxygen from water using renewable energy sources such as solar or wind. This production process emits fewer greenhouse gases as compared to the conventional process, making it a sustainable method.

• Rising decarbonisation efforts by the governments of the United States and Canada, surging investments to reduce production costs of green hydrogen, and the expansion of green hydrogen infrastructure are aiding the market.
• Growing deployment of advanced analytics in the green hydrogen production process to maximise the hydrogen yield is one of the crucial North America green hydrogen market trends. Advanced analytics can leverage data from plants, pipes, and tanks, among other components, to prevent failures and optimise hydrogen production.
• The advent of technologies such as the artificial intelligence of things (AIoT), which provides real-time monitoring of production plants and remote control of key assets to enhance their performance, is another prominent trend aiding the market expansion in the region.
• Research and development efforts by several market players to integrate digital twin technology into green hydrogen electrolysis also contribute to the North America green hydrogen market growth. Digital twins can streamline the operation and lower the cost of the hydrogen production process to make the process more efficient.

Market Segmentation

The report titled “North America Green Hydrogen Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Technology:

• Alkaline Water Electrolysis
• PEM (Proton exchange Membrane)
• SOEC (Solid Oxide Fuel cell)

Market Breakup by Source:

• Solar
• Wind
• Geothermal
• Others

Market Breakup by Capacity:

• Up to 500 KW
• 501-1500 KW
• 1501 KW-5000KW
• Above 5000 KW

Market Breakup by End Use:

• Transport and Mobility
• Utilities
• Grid Injection
• Industrial
• Others

Market Breakup by Region:

• United States of America
• Canada

Market Share by End Use

The transport and mobility sector occupies a significant portion of the North America green hydrogen market share, due to the growing demand for zero-emission green hydrogen fuel cells. Hydrogen-powered vehicles also offer quiet means of transportation and a long driving range, which augments their popularity in the region.

The utility sector is also expected to witness sizeable growth in the forecast period, owing to the surge in the deployment of hydrogen energy-based power plants for electricity generation.

Market Share by Country

As per the North America green hydrogen market analysis, the United States of America accounts for a substantial share of the regional market, owing to the introduction of favourable government policies to promote clean energy sources such as green hydrogen.

In November 2022, the California Air Resources Board (CARB) unveiled a carbon action proposal to achieve net zero carbon emissions by the year 2045, boosting the usage of renewable energy like green hydrogen. Subsequently, Canada is also expected to gain significant growth in the foreseeable future amid growing government attempts to enhance sustainability and advancements in the hydrogen economy.

Competitive Landscape

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the North America green hydrogen market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

Siemens AG

Siemens AG, incorporated in 1847, is a multinational technology corporation, with its headquarters in Munich, Germany. The corporation offers its products and services to sectors like aerospace, automotive, chemical, and commercial buildings, among others.

Nel ASA

Nel ASA is a primary provider of hydrogen solutions, founded in 1927 and based in Oslo, Norway. The company offers hydrogen fuelling stations, hydrogen production plants, and power-to-power solutions, among others.

Air Liquide

Air Liquide, established in 1902, is a multinational supplier of industrial gases, headquartered in Paris, France. Some of its leading gas solutions include argon, carbon dioxide, hydrogen, and oxygen, among others.

Other North America green hydrogen market players include Linde PLC, Toshiba Energy Systems & Solutions Corporation, Air Products and Chemicals, Inc., Plug Power Inc., ENGIE Insight Services Inc., Bloom energy Corporation, and Cummins, Inc., among others.