Asia Pacific Green Hydrogen Market Size & Outlook
Asia Pacific green hydrogen market, 2018-2030 (US$M)
Related Markets
Asia Pacific green hydrogen market highlights
- The Asia Pacific green hydrogen market generated a revenue of USD 1,023.9 million in 2023.
- The market is expected to grow at a CAGR of 45.4% from 2024 to 2030.
- In terms of segment, transportation was the largest revenue generating application in 2023.
- Power Generation is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 1,023.9 million |
| Market revenue in 2030 | USD 14,070.0 million |
| Growth rate | 45.4% (CAGR from 2023 to 2030) |
| Largest segment | Transportation |
| Fastest growing segment | Power Generation |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Transportation, Power Generation |
| Key market players worldwide | Air Liquide SA, Air Products & Chemicals Inc, Bloom Energy Corp Class A, Cummins Inc, Engie SA, Linde PLC, NEL ASA, Siemens Energy AG ADR, Uniper SE |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 18.2% of the global green hydrogen market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 30.2 million by 2030.
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Green Hydrogen Market Scope
Green Hydrogen Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific green hydrogen market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to green hydrogen market will help companies and investors design strategic landscapes.
Transportation was the largest segment with a revenue share of 66.8% in 2023. Horizon Databook has segmented the Asia Pacific green hydrogen market based on transportation, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific market for green hydrogen is dominated by Australia and Japan by being the largest contributors to the regional growth. For instance, Toshiba in March 2020 in Japan completed construction of a green hydrogen plant with a 10 MW electrolyzer capacity, which would be utilized to provide hydrogen for transportation application.
With countries such as Singapore, South Korea, Japan and Australia heavily backing hydrogen’s potential, it is only fitting to explore hydrogen’s impact on the energy transition, as well as its wider potential across APAC. For instance, in May 2019, KEPCO was selected by South Korean government to become carrier for deployment of green hydrogen projects in the country.
China also shows great potential for market growth, especially as increased use of renewables has led to greater grid instability. In Thailand, hybrid systems have become more popular, encouraged by policy reform. Centralized generation is mixed with smart distributed generation which presents a large renewable hydrogen market.
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Target buyers of Asia Pacific green hydrogen market databook
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Our clientele includes a mix of green hydrogen market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific green hydrogen market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific green hydrogen market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific green hydrogen market size, by country, 2018-2030 (US$M)
Asia Pacific Green Hydrogen Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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