Canada Green Hydrogen Market Size & Outlook, 2023-2030
Canada green hydrogen market, 2018-2030 (US$M)
Related Markets
Canada green hydrogen market highlights
- The Canada green hydrogen market generated a revenue of USD 734.1 million in 2023 and is expected to reach USD 8,153.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 41% 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.
Green hydrogen market data book summary
| Market revenue in 2023 | USD 734.1 million |
| Market revenue in 2030 | USD 8,153.5 million |
| Growth rate | 41% (CAGR from 2023 to 2030) |
| Largest segment | Transportation |
| Fastest growing segment | Power Generation |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 13.0% of the global green hydrogen market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. green hydrogen market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 8,153.5 million by 2030.
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Green Hydrogen Market Scope
Green Hydrogen Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 66.04% in 2023. Horizon Databook has segmented the Canada green hydrogen market based on transportation, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
Natural Resources Canada published 2019 Hydrogen Pathways - Enabling a Clean Growth Future for Canadians defining ten high-level actions to make hydrogen and fuel cell technologies part of the clean growth solutions that provide environmental and economic benefits to Canadians.
In January 2020, Quebec’s H2V Energies announced that it was opening its order book on a new plant that can turn residual residential biomass materials (such as waste wood and paper) into green hydrogen. Government initiatives along with vendor developments are expected to boost the growth of green hydrogen market in Canada in forecast period.
Canadian companies have developed technology to manufacture hydrogen in a clean and cost-effective manner using fossil fuels, methanol, biomass, renewable energy sources such as solar, wind, and hydropower, or waste hydrogen captured from industrial by-products.
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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 country-level data and insights on the Canada green hydrogen market , including forecasts for subscribers. This country databook contains high-level insights into Canada green hydrogen market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada green hydrogen market size, by application, 2018-2030 (US$M)
Canada Green Hydrogen Market Outlook Share, 2023 & 2030 (US$M)
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