According to a new report by UnivDatos, The Green Hydrogen Market was valued at USD 317.12 Million and is expected to grow at a strong CAGR of around 65.7% during the forecast period (2023-2030) owing to the net zero emissions targets set by countries across the globe for 2030 to stimulate the renewable energy transition.
Current Scenario of North America Green Hydrogen Industry
The Green Hydrogen market in North America has been witnessing significant growth in recent years. It is mainly due to the ongoing operational green hydrogen plant that aims to fufill the demand for green hydrogen, particularly for transportation applications. For instance: In 2024, H2B2 Electrolysis Technologies, an international green hydrogen producer, started operations of SoHyCal, the largest green hydrogen production plant powered entirely by renewable energy in North America. Furthermore, key players in the region are collaborating to support the development of green hydrogen plants. For instance: In 2024, Hy Stor Energy and Schneider Electric collaborated to Advance Integrated, Off-Grid Green Hydrogen Production and Energy Storage at Scale. In this partnership, Schneider Electric and Hy Stor Energy are solving large-scale energy and sustainability challenges that are required to transition to a renewable and fossil-free energy system. Similarly, In 2024, StormFisher Hydrogen and kiwi AG have entered into a partnership to advance the development of green H2-related projects in North America and Europe.
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How Countries in the North America Region are moving towards green hydrogen economy?
United States: The green hydrogen market in the United States is substantial due to significant investments in green hydrogen production facilities and partnerships among private players. For instance, in 2024, ABB collaborated with Green Hydrogen International (GHI) on a project to develop a major green hydrogen facility in South Texas. Envision Energy also announced a strategic collaboration with BASF Process Catalysts to enhance the efficiency of generating e-methanol from green hydrogen and carbon dioxide. This collaboration brings innovative advances to the sustainable energy value chain, creating sustainable energy solutions.
Additionally, a US start-up backed by Shell, Amazon, and Nasa unveiled an industrial-scale anion-exchange-membrane [AEM] electrolyzer stack for low-cost green hydrogen. The system demonstrated the ability to react quickly to load changes and produce hydrogen more efficiently than any renewable load-following product on the market. Furthermore, United states has recently launched National Clean Hydrogen Strategy and Roadmap, focuses on strategies with three key priorities of increasing the high impact use of hydrogen, reducing the cost, and deployment of regional hubs. To implement these strategies, DOE will work with other agencies, as well as with industry, academia, national laboratories, local and Tribal communities, the environmental and justice communities, and numerous stakeholder groups to accelerate progress and market lift off.
Canada: Canada is leading the way in adopting green hydrogen in the country by signing bilateral agreements with different countries in the world coupled with investment support from the government to scale up the green hydrogen production process. For instance: In 2024, the governments of Canada and Germany signed a memorandum of understanding to speed up commercial-scale hydrogen trade and secure early access for clean hydrogen producers in the German market. Furthermore, the agreement aims to bolster the two countries’ efforts to fight climate change and enhance energy security. Further, the Government of Canada has agreed to support the development of Project Nujio’qonik, the country’s first commercial-scale green hydrogen/ammonia facility on the west coast of Newfoundland and Labrador.
Rest of North America: Latin America's green hydrogen investment portfolio has surpassed US$100bn as the nascent sector attracts growing interest from project developers. For instance: In 2024, Copenhagen Infrastructure Partners (CIP) announced its plans to develop Helax Istmo, a green hydrogen and green maritime fuels project in Mexico. Moreover, Plans for 65 green hydrogen projects have been submitted to authorities, including 60 in the early development phase two that are currently under construction and another three projects are in operation. Moreover, Moroccan electricity and water utility ONEE a deal with renewable energy companies Nareva and GE Vernova to conduct a feasibility study to replace fuel with green hydrogen to operate a 99-megawatt power plant.
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Conclusion
In conclusion, clean green hydrogen innovation has the potential to significantly empower North America's future by offering sustainable and renewable energy solutions. With the potential to decarbonize various sectors such as transportation, industry, and electricity generation, clean green hydrogen can play a crucial role in addressing climate change and achieving carbon neutrality. By investing in research, development, and infrastructure for green hydrogen technologies, North America can pave the way towards a cleaner, more sustainable future for generations to come.
Related Report :-
Green Hydrogen Electrolyzers Market: Current Analysis and Forecast (2022-2028)
Asia Pacific Green Hydrogen Market: Current Analysis and Forecast (2024-2032)
North America Green Hydrogen Market: Current Analysis and Forecast (2024-2032)
Europe Green Hydrogen Market: Current Analysis and Forecast (2024-2032)
Middle East Africa Green Hydrogen Market: Current Analysis and Forecast (2024-2032)
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