UK Green Hydrogen Market Size & Outlook, 2023-2030
UK green hydrogen market, 2018-2030 (US$M)
Related Markets
UK green hydrogen market highlights
- The UK green hydrogen market generated a revenue of USD 746.1 million in 2023 and is expected to reach USD 7,312.4 million by 2030.
- The UK market is expected to grow at a CAGR of 38.6% 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 746.1 million |
| Market revenue in 2030 | USD 7,312.4 million |
| Growth rate | 38.6% (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, UK accounted for 13.2% 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 Europe, UK green hydrogen market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 1,193.0 million by 2030.
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Green Hydrogen Market Scope
Green Hydrogen Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 64.82% in 2023. Horizon Databook has segmented the UK green hydrogen market based on transportation, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
In August 2021, the UK announced its hydrogen strategy to produce 5GW of low carbon hydrogen production capacity by 2030. The UK government aims to achieve 20% to 35% of the U.K. ‘s energy consumption to be based on hydrogen by 2050. By 2030, the government expects that this could lead to an investment £4 billion and create more than 9,000 jobs.
Currently, hydrogen is regulated by Gas Act and numerous authorities. There is no single regulatory body responsible for the regulation of hydrogen projects in U.K. A number of regulators are involved depending on the activity.
For example, Local, Town and Country planning authorities regulates the use of land and Environmental Impact Assessment, Oil and Gas Authority regulates new pipelines and decommissioning and Ofgem Regulates the gas network.
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Target buyers of UK 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 country-level data and insights on the UK green hydrogen market , including forecasts for subscribers. This country databook contains high-level insights into UK green hydrogen market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
UK green hydrogen market size, by application, 2018-2030 (US$M)
UK Green Hydrogen Market Outlook Share, 2023 & 2030 (US$M)
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