Europe Green Hydrogen Market Size & Outlook, 2023-2030
Europe green hydrogen market, 2018-2030 (US$M)
Related Markets
Europe green hydrogen market highlights
- The Europe green hydrogen market generated a revenue of USD 2,703.1 million in 2023.
- The market is expected to grow at a CAGR of 38.8% 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, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 2,703.1 million |
| Market revenue in 2030 | USD 26,813.0 million |
| Growth rate | 38.8% (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, Europe region accounted for 48.0% 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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Europe 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 67.04% in 2023. Horizon Databook has segmented the Europe green hydrogen market based on transportation, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
Europe led the global market in 2021 and accounted for the largest revenue share owing to huge investments by the European economies, aiming for an energy transition into clean a hydrogen-based economy.
The EU Commission’s hydrogen strategy contains a three-step plan. The first step starts with the construction of electrolyzers to produce green hydrogen for use in industries (steel, chemicals, refineries) by 2024. In the final step, these hotspots will be joined to create the backbone of a large European hydrogen infrastructure with increasing demand.
Because of the Russia-Ukraine war Europe has decided to reduce reliance on Russian gas and announced proposals to further boost renewables and quadruple current 2030 targets for green hydrogen. The Commission proposed REPowerEU plan to make the bloc independent of Russian supplies by 2030.
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Target buyers of Europe 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 Europe green hydrogen market , including forecasts for subscribers. This continent databook contains high-level insights into Europe green hydrogen market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe green hydrogen market size, by country, 2018-2030 (US$M)
Europe Green Hydrogen Market Outlook Share, 2023 & 2030 (US$M)
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