Japan Green Hydrogen Market Size & Outlook, 2023-2030
Japan green hydrogen market, 2018-2030 (US$M)
Related Markets
Japan green hydrogen market highlights
- The Japan green hydrogen market generated a revenue of USD 127.0 million in 2023 and is expected to reach USD 1,204.8 million by 2030.
- The Japan market is expected to grow at a CAGR of 37.9% 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 127.0 million |
| Market revenue in 2030 | USD 1,204.8 million |
| Growth rate | 37.9% (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, Japan accounted for 2.3% 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 Asia Pacific, China green hydrogen market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,812.8 million by 2030.
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Green Hydrogen Market Scope
Green Hydrogen Market Companies
| Name | Profile | # Employees | HQ | Website |
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Japan 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 65.43% in 2023. Horizon Databook has segmented the Japan green hydrogen market based on transportation, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
Japan’s Ministry of Economy, Trade and Industry promotes the adoption of hydrogen in its Basic Hydrogen Strategy published in December 2017, which also targets power-to-gas (P2G) technology for the storage and use of hydrogen-based energy that can be stored in large quantities for long periods of time as output increases.
The country leads the way in hydrogen fuel-cell vehicle development thanks to the efforts of auto makers such as Toyota and Honda. And policymakers are keen to stimulate green hydrogen as an alternative to liquefied natural gas, which Japan imports more of than any other country.
The Fukushima Hydrogen Energy Research Field (FH2R) uses a 20MW solar array, backed up by renewable power from the grid, runs a 10 MW electrolyzer at the site in Namie Town, Fukushima Prefecture. A consortium including Toshiba, Tohoku Electric Power and Japan’s New Energy and Industrial Technology Development Organization (NEDO) worked on this project which was completed in March 2020.
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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 Japan green hydrogen market , including forecasts for subscribers. This country databook contains high-level insights into Japan green hydrogen market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Japan green hydrogen market size, by application, 2018-2030 (US$M)
Japan Green Hydrogen Market Outlook Share, 2023 & 2030 (US$M)
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