North America low-carbon hydrogen market size was estimated at 121.14 kilo tons in 2022, which is expected to reach 527.9 kilo tons in 2030, with a CAGR of 20.2% for the forecast period between 2023 and 2030.
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North America low-carbon hydrogen market size was estimated at 121.14 kilo tons in 2022, which is expected to grow to 527.9 kilo tons in 2030, with a CAGR of 20.2% during the forecast period between 2023 and 2030. The increasing developments of low-carbon hydrogen for the transportation industry and the rising environmental restrictions for the oil refineries sectors in North America are expected to reduce the carbon footprint, spurring the demand for low-carbon hydrogen to ensure efficient substitution of traditional fossil fuels, thereby boosting the market growth.
Furthermore, the government authorities in North America are implementing stringent regulatory measures to minimize carbon emissions. North America's rigorous carbon emission norms induce high carbon footprint-generating industries, including fertilizers, steel, transportation, and others, to utilize low-carbon hydrogen. The above-listed industries produced about 25% or more of global CO2 emissions. Thus, the demand for low-carbon hydrogen is increasing in North America. It, in turn, is resulting in manufacturers of hydrogen establishing new low-carbon hydrogen-generating plants in North America, creating a prominent market growth potential in the upcoming years.
Low-carbon hydrogen provides aid in desulfurizing crude oil, biodiesel, and other products to eradicate carbon footprint generation into the atmosphere. The employment of low-carbon hydrogen manufactured from renewable energy sources is increasing in oil refinery applications such as reactors, heavy oil hydrotreating units, and others. The growth of the oil refinery industry is attributed to factors such as the increasing adoption of green hydrogen to maximize production output and the launch of new oil refineries.
For instance, in January 2023, Imperial Oil Limited invested USD 720 million to develop a new renewable diesel manufacturing facility in Canada. The plant will have a production capacity of 20,000 barrels per day. The new renewable diesel manufacturing facility will utilize low-carbon hydrogen supplied by Air Products. Thus, the recent developments of oil refineries are accelerating the demand for low-carbon hydrogen to achieve low-carbon targets, which, in turn, is benefiting the market growth.
The prime benefit of employing low-carbon hydrogen in the power generation industry is to generate electricity by eliminating the production of greenhouse gases responsible for climate change. The low-carbon hydrogen is utilized in various power generation applications, including gas turbines, heating, etc. Thus, due to the above benefits, power generation companies in the United States are collaborating with low-carbon manufacturers to deploy green hydrogen in gas turbine systems.
For instance, in September 2022, the New York Power Authority (NYPA) showcased the outcome of a green hydrogen demonstration project as part of a comprehensive decarbonization strategy. The project showcased a diminished carbon footprint using green hydrogen blended with natural gas for power generation at the Power Authority’s Brentwood Small Clean Power Plant in the United States. Hence, the increasing deployment of low-carbon hydrogen in the power generation plants to produce small amounts of heat is augmenting the market growth in North America.
The low-carbon hydrogen fuel enables vehicles to travel longer distances with lesser refueling than traditional fossil fuels. Hence, low-carbon hydrogen is employed in fueling public transits such as buses, aircraft, marine vessels, mining vehicles, heavy-duty tractor-trailers, and others. The increasing investments in the new green hydrogen-powered marine vessel development and rising production of heavy-duty trucks are prominent aspects boosting the transportation industry growth in North America.
For instance, in December 2022, Amazon, an e-commerce company in the United States, formed a strategic partnership with Plug Power to supply 10,950 tons of green hydrogen for transportation and building applications. Hence, the increasing deployment of low-carbon hydrogen, including green hydrogen in the North America transportation industry, as a fuel in the internal combustible engine is supplementing the market growth.
Future Market Scenario
The transition of hydrogen manufacturers of grey hydrogen to energy-efficient low-carbon hydrogen is accelerating the development of new green and blue hydrogen plants. For instance, in January 2023, Exxon Mobil Corporation provided a front-end engineering and design (FEED) contract to develop a new low-carbon hydrogen manufacturing facility in the United States. The project construction will commence in 2024, and the production will start between 2026-2027. Thus, the new infrastructure development will boost the low-carbon hydrogen supply, propelling market growth in North America in the coming years.
Government authorities in North America are collaborating with hydrogen manufacturers to grant them financial aid for new low-carbon hydrogen facilities development in the region. For instance, in November 2022, the Canadian government allocated USD 365.2 million (CAD 775 million) to Air Products for a blue hydrogen plant development in Alberta, Canada. Hence, the government's aid for the low-carbon hydrogen plant construction in North America to develop a carbon negative eco-system, which is expected to augment the market growth in the forecast period.
The recent regulatory framework in North America for reducing the prices of low-carbon hydrogen will boost the demand for green and blue hydrogen in the coming years, thereby creating a lucrative opportunity for market growth. For instance, the United States aims to lead the cost-effective low-carbon hydrogen industry. As a result, the United States has implemented the Infrastructure Investment and Jobs Act (IIJA) and Inflation Reduction Act (IRA) to allot USD 8 billion for new low-carbon hydrogen hub development and provide tax rebates to green and blue hydrogen manufacturers.
Report Scope:
“North America Low-carbon Hydrogen Market Assessment, Opportunities and Forecast, 2016-2030F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative & quantitative assessment of the current state of the North America low-carbon hydrogen market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, COVID-19 and Russia-Ukraine war impact, opportunities, and forecast between 2023 and 2030. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business model, competitive intelligence, etc.
Report Attribute |
Details |
Base Year of the Analysis |
2022 |
Historical Period |
2016-2021 |
Forecast Period |
2023-2030 |
Projected Growth Rate |
CAGR of 20.2% between 2023 and 2030 |
Segments Covered |
Electricity Source, Type, Production Process, End-use Industry |
Regions Covered |
|
Key Companies Profiled |
Plug Power Inc., Exxon Mobil Corporation., Ballard Power Systems., Bloom Energy, FuelCell Energy, Inc., Green Hydrogen International Corp, SGH2 Energy, Air Liquide S.A., Linde plc, ENGIE SA. |
Customization Scope |
15% free report customization with purchase |
Pricing and Purchase Options |
Avail the customized purchase options to fulfil your precise research needs |
Delivery Format |
PDF and Excel through email (subject to the license purchased) |
In this report, North America low-carbon hydrogen market has been segmented into the following categories:
1. By Electricity Source
1.1. Renewable Energy
1.1.1. Solar
1.1.2. Wind
1.1.3. Biomass
1.1.4. Others
1.2. Non-renewable Energy
1.2.1.Fossil Fuel
1.2.2.Nuclear
2. By Type
2.1. Green Hydrogen
2.2. Blue Hydrogen
2.3. Aqua Hydrogen
3. By Production Process
3.1. Electrolysis
3.2. Gasification
4. By End-use Industry
4.1. Transportation
4.1.1.Automotive
4.1.2.Aerospace
4.1.3.Marine
4.1.4.Locomotive
4.2. Power Generation
4.3. Oil Refineries
4.4. Steel
4.5. Fertilizers
4.6. Others
5. By Region
5.1. United States
5.2. Canada
5.3. Mexico
Key Players Landscape and Outlook
The key players offering low-carbon hydrogen in North America are leveraging their technological potential to develop low-carbon hydrogen plants. Furthermore, the primary focus of the market players such as Plug Power Inc., Exxon Mobil Corporation., Ballard Power Systems., Bloom Energy, and others are on the utilization of a diverse range of strategies, including infrastructure development for new plants, reducing the overall production cost, increasing efficiency, and others.
For instance, in October 2021, Air Products announced the construction of a USD 4.5 billion low-carbon hydrogen complex in Louisiana, the United States. The new manufacturing facility will have a production capacity of more than 750 million cubic feet per day. Therefore, developing a new low-carbon hydrogen facility will boost the market's revenue growth in the coming years.
Key Players Operating in North America Low-carbon Hydrogen Market are:
· Plug Power Inc.
· Exxon Mobil Corporation.
· Ballard Power Systems.
· Bloom Energy
· FuelCell Energy, Inc.
· Green Hydrogen International Corp
· SGH2 Energy
· Air Liquide S.A.
· Linde plc
· ENGIE SA.
Markets and Data’s reports answer the following questions:
• What is the current and future market size of the product/service in question globally or specific to different countries?
• How are the markets divided into different product/service segments and each segment's market size and growth?
• What is the market potential of different product segments and their investment case?
• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?
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1. Research Methodology
2. Project Scope & Definitions
3. Impact of COVID-19 on North America Low-carbon Hydrogen Market
4. Impact of Russia-Ukraine War
5. Executive Summary
6. Voice of Customer
6.1. Market Awareness and Product Information
6.2. Brand Awareness and Loyalty
6.3. Factors Considered in Purchase Decision
6.3.1.Brand Name
6.3.2.Quality
6.3.3.Quantity
6.3.4.Price
6.3.5.Product Specification
6.3.6.Application Specification
6.3.7.VOC/Toxicity Content
6.3.8.Availability of Product
6.4. Frequency of Purchase
6.5. Medium of Purchase
7. North America Low-carbon Hydrogen Market Outlook, 2016-2030F
7.1. Market Size & Forecast
7.1.1.By Value
7.1.2.By Volume
7.2. By Electricity Source
7.2.1.Renewable Energy
7.2.1.1. Solar
7.2.1.2. Wind
7.2.1.3. Biomass
7.2.1.4. Others
7.2.2.Non-renewable Energy
7.2.2.1. Fossil Fuel
7.2.2.2. Nuclear
7.3. By Type
7.3.1.Green Hydrogen
7.3.2.Blue Hydrogen
7.3.3.Aqua Hydrogen
7.4. By Production Process
7.4.1.Electrolysis
7.4.2.Gasification
7.5. By End-use Industry
7.5.1.Transportation
7.5.1.1. Automotive
7.5.1.2. Aerospace
7.5.1.3. Marine
7.5.1.4. Locomotive
7.5.2.Power Generation
7.5.3.Oil Refineries
7.5.4.Steel
7.5.5.Fertilizers
7.5.6.Others
7.6. By Region
7.6.1.United States
7.6.2.Canada
7.6.3.Mexico
7.7. By Company Market Share (%), 2022
8. North America Low-carbon Hydrogen Market Outlook, By Region, 2016-2030F
8.1. United States*
8.1.1.By Electricity Source
8.1.1.1. Renewable Energy
8.1.1.1.1. Solar Wind Biomass Others
8.1.1.1.2. Wind
8.1.1.1.3. Biomass
8.1.1.1.4. Others
8.1.1.2. Non-renewable Energy
8.1.1.2.1. Fossil Fuel
8.1.1.2.2. Nuclear
8.1.2.By Type
8.1.2.1. Green Hydrogen
8.1.2.2. Blue Hydrogen
8.1.2.3. Aqua Hydrogen
8.1.3.By Production Process
8.1.3.1. Electrolysis
8.1.3.2. Gasification
8.1.4.By End-use Industry
8.1.4.1. Transportation
8.1.4.1.1. Automotive
8.1.4.1.2. Aerospace
8.1.4.1.3. Marine
8.1.4.1.4. Locomotive
8.1.4.1.5. Power Generation
8.1.4.2. Oil Refineries
8.1.4.3. Steel
8.1.4.4. Fertilizers
8.1.4.5. Others
8.2. Canada
8.3. Mexico
9. Supply Side Analysis
9.1. Capacity, By Company
9.2. Production, By Company
9.3. Operating Efficiency, By Company
9.4. Key Plant Locations (Up to 25)
10. Market Mapping, 2022
10.1. By Electricity Source
10.2. By Type
10.3. By Production Process
10.4. By End-use Industry
10.5. By Region
11. Macro Environment and Industry Structure
11.1. Supply Demand Analysis
11.2. Import Export Analysis – Volume and Value
11.3. Supply/Value Chain Analysis
11.4. PESTEL Analysis
11.4.1. Political Factors
11.4.2. Economic System
11.4.3. Social Implications
11.4.4. Technological Advancements
11.4.5. Environmental Impacts
11.4.6. Legal Compliances and Regulatory Policies (Statutory Bodies Included)
11.5. Porter’s Five Forces Analysis
11.5.1. Supplier Power
11.5.2. Buyer Power
11.5.3. Substitution Threat
11.5.4. Threat from New Entrant
11.5.5. Competitive Rivalry
12. Market Dynamics
12.1. Growth Drivers
12.2. Growth Inhibitors (Challenges, Restraints)
13. Key Players Landscape
13.1. Competition Matrix of Top Five Market Leaders
13.2. Market Revenue Analysis of Top Five Market Leaders (in %, 2022)
13.3. Mergers and Acquisitions/Joint Ventures (If Applicable)
13.4. SWOT Analysis (For Five Market Players)
13.5. Patent Analysis (If Applicable)
14. Pricing Analysis
15. Case Studies
16. Key Players Outlook
16.1. Plug Power Inc.
16.1.1. Company Details
16.1.2. Key Management Personnel
16.1.3. Products & Services
16.1.4. Financials (As reported)
16.1.5. Key Market Focus & Geographical Presence
16.1.6. Recent Developments
16.2. Exxon Mobil Corporation.
16.3. Ballard Power Systems.
16.4. Bloom Energy
16.5. FuelCell Energy, Inc.
16.6. Green Hydrogen International Corp
16.7. SGH2 Energy
16.8. Air Liquide S.A.
16.9. Linde plc
16.10. ENGIE SA.
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.
17. Strategic Recommendations
About Us & Disclaimer
List of Figures:
Figure 1. North America Low-carbon Hydrogen Market, By Value, In USD Billion, 2016-2030F
Figure 2. North America Low-carbon Hydrogen Market, By Volume, In Kilotons, 2016-2030F
Figure 3. North America Low-carbon Hydrogen Market Share, By Type, In USD Billion, 2016-2030F
Figure 4. North America Low-carbon Hydrogen Market Share, By Processing Type, In USD Billion, 2016-2030F
Figure 5. North America Low-carbon Hydrogen Market Share, By Application, In USD Billion, 2016-2030F
Figure 6. North America Low-carbon Hydrogen Market Share, By End-Use Industry, In USD Billion, 2016-2030F
Figure 7. North America Low-carbon Hydrogen Market Share, By Region, In USD Billion, 2016-2030F
Figure 8. Canada Low-carbon Hydrogen Market, By Value, In USD Billion, 2016-2030F
Figure 9. Canada Low-carbon Hydrogen Market, By Volume, In Kilotons, 2016-2030F
Figure 10. Canada Low-carbon Hydrogen Market Share, By Type, In USD Billion, 2016-2030F
Figure 11. Canada Low-carbon Hydrogen Market Share, By Processing Type, In USD Billion, 2016-2030F
Figure 12. Canada Low-carbon Hydrogen Market Share, By Application, In USD Billion, 2016-2030F
Figure 13. Canada Low-carbon Hydrogen Market Share, By End-Use Industry, In USD Billion, 2016-2030F
Figure 14. United States Low-carbon Hydrogen Market, By Value, In USD Billion, 2016-2030F
Figure 15. United States Low-carbon Hydrogen Market, By Volume, In Kilotons, 2016-2030F
Figure 16. United States Low-carbon Hydrogen Market Share, By Type, In USD Billion, 2016-2030F
Figure 17. United States Low-carbon Hydrogen Market Share, By Processing Type, In USD Billion, 2016-2030F
Figure 18. United States Low-carbon Hydrogen Market Share, By Application, In USD Billion, 2016-2030F
Figure 19. United States Low-carbon Hydrogen Market Share, By End-Use Industry, In USD Billion, 2016-2030F
Figure 20. Mexico Low-carbon Hydrogen Market, By Value, In USD Billion, 2016-2030F
Figure 21. Mexico Low-carbon Hydrogen Market, By Volume, In Kilotons, 2016-2030F
Figure 22. Mexico Low-carbon Hydrogen Market Share, By Type, In USD Billion, 2016-2030F
Figure 23. Mexico Low-carbon Hydrogen Market Share, By Processing Type, In USD Billion, 2016-2030F
Figure 24. Mexico Low-carbon Hydrogen Market Share, By Application, In USD Billion, 2016-2030F
Figure 25. Mexico Low-carbon Hydrogen Market Share, By End-Use Industry, In USD Billion, 2016-2030F
Figure 26. By Type Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 27. By Processing Type Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 28. By Application Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 29. By End-Use Industry Map-Market Size (USD Billion) & Growth Rate (%), 2022
Figure 30. By Region Map-Market Size (USD Billion) & Growth Rate (%), 2022
List of Tables: North America Low-carbon Hydrogen Market
Table 1. Pricing Analysis of Products from Key Players
Table 2. Competition Matrix of Top 5 Market Leaders
Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
Table 4. About Us - Region and Countries Where We Have Executed Client Projects
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2,760
3,000
8%
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4,050
4,500
10%
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5,016
5,700
12%
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6,970
8,200
15%
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