Market Research Report

Global Green Hydrogen Market Research Report: Forecast (2024-2030)

Green Hydrogen Market - By Technology (Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer, Others), By Energy Source (Solar, Wind, Other Renewab...le Sources), By End Users (Power Generation & Energy Storage, Automotive & Transportation, Industrial Feedstock) and others Read more

  • Energy
  • Apr 2024
  • 193
  • EN66012

Market Definition

Green Hydrogen is a fuel produced by the electrolysis of water. It is a renewable source of energy & an upcoming solution for the replacement of non-renewable sources of energy, i.e., fossil fuels. Today, the importance of Green Hydrogen is extensive in energy transition and needs an accelerated deployment to make a change in decarbonizing existing power systems.

Market Insights & Analysis: Global Green Hydrogen Market (2024-30):

The Global Green Hydrogen Market is estimated to grow at a CAGR of around 51.23 % during the forecast period, i.e., 2024-30. The demand for Green Hydrogen witnessed a notable rise globally during the past years due to increasing awareness of environmental sustainability, stringent regulations promoting eco-friendly practices, and a growing preference for renewable & bio-based materials.

In addition, growing concerns over the increasing carbon emissions have forced countries across the globe to develop cleaner and more powerful sources of energy for not only carrying out essential routine tasks but also major industrial operations, such as in the concrete & steel industry, shipping, long-distance trucking, etc. The demand for green hydrogen is expected to reach around 530 million tons by 2050, replacing around 10.4 billion barrels of oil equivalent.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-2030
CAGR (2024-2030) 51.23%
Regions Covered North America: USA, Canada, Mexico
Europe: Germany, The UK, France, Italy, Spain, The Netherlands, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific
South America: Brazil, Rest of South America
Middle East & Africa: The UAE, Saudi Arabia, Rest of GCC, South Africa, Rest of the Middle East & Africa
Key Companies Profiled

Green Hydrogen Manufacturing Company - Air Liquide, Linde, Air Products, GAIL Limited, Shell Plc, TotalEnergies, Adani Group, Other Potential Players,

Renewable Power Generation Solution Providers - Acme Group, General Electric, Enel Green Power, Azure Power, AMEA Power, Statkraft

Electrolyzer Technology Providers - Cummins , MHI, Stiesdal A/S, Siemens, Thyssenkrupp, Other

Unit Denominations USD Million/Billion

 

However, the Green Hydrogen Market has depicted a steady growth in terms of growing application and research & development. Despite all these developments, the market was in its embryonic stage in 2023. This was due to the limited application of this energy alternative that has been observed during the period. Moreover, the high production cost of green hydrogen compared to grey hydrogen limits its adoption across the regions.

Besides, with a greater focus on bringing energy efficiency and a paradigm shift toward renewable resources for a cost-effective supply of energy, residential, commercial, and industrial sectors shall augment the utilization of green hydrogen as a prominent energy source to run different operations & contribute to the overall market expansion.

Furthermore, the application of green hydrogen is expected to play a key role in reducing the carbon emissions from heavy industries, such as chemicals, transportation, power generation, etc., and help transition towards a sustainable energy future. Also, with the rising carbon dioxide emissions from the regions, the countries are anticipated to increase their focus on the adoption of green hydrogen in the upcoming years, thus instigating the industry's futuristic growth.


Global Green Hydrogen Market Research Report: Forecast (2024-2030)

Global Green Hydrogen Market Driver:

Increasing Government Support for the Production of Green Hydrogen – Green Hydrogen plays a critical role in decreasing the dependence on energy imports, safeguarding the environment, and satisfying the growing energy needs globally. In relation to this, governments are developing hydrogen strategies and taking necessary initiatives by providing their support to drive economies towards green hydrogen in refineries, fertilizers, and gas networks across the globe.

Moreover, the Asia-Pacific countries such as Japan, Singapore, Korea, and China promote global supply chains and progress pertinent technologies that have gained the attention of scientists, investors, and governmental bodies towards the utilization of green hydrogen at large. For instance:

  • In 2021, the European Commission implemented various intermediate proposals to decrease 55% of greenhouse gas emissions by 2030 as a part of the European Green Deal (EGD) Project.

The EGD is a long-term policy initiative of the EU that focuses on the climate strategy to reach net zero emissions by 2050 and provide a roadmap towards a green economic growth strategy.

Global Green Hydrogen Market Opportunity:

Automotive to Become a Lucrative Potential Area – In the long term, the automotive sector has an enormous opportunity for implementing green hydrogen as an alternative to phase out the usage of fossil fuels, and can also become an alternative to lithium-ion battery-based systems for mobility applications. The advent of electric vehicle (EVs) demands huge investment in building charging infrastructure plus challenges about its range.

If the costs related to green hydrogen are reduced, the automakers, including trucks, heavy vehicles, forklifts, cars, etc., could utilize green hydrogen for powering vehicles with zero carbon emissions and generate electricity on the go. In addition, various automotive companies, like General Motors (GM), Hyundai, Honda, and Toyota, among several others, have shown keen interest in integrating green hydrogen in Electric Vehicles (EV) and Hydrogen-based Fuel Cell Electric Vehicles (FCEVs). For instance:

  • In 2023, Honda announced its plans to sell a new fuel-cell electric vehicle in Japan and North America starting in 2024. The FCEV would be equipped with a next-generation fuel cell system codeveloped with US carmaker General Motors.

Therefore, the automotive industry holds colossal opportunities for green hydrogen and would become a lucrative area of investment for automakers in the coming years.

Global Green Hydrogen Market Challenge:

Difficulties in Transportation & Storage of Green Hydrogen – Before the large-scale commercialization of green hydrogen, the complete process has multiple challenges, including the high cost of plant setup & operational costs, supply chain development, integration with energy vectors, and increasing complexity of the technologies. The period required to achieve the economies of scale using the well-interlinked production machinery, feedstock & process is the most prominent factor determining the selling price of green hydrogen.

Moreover, green hydrogen faces challenges related to cost competitiveness compared to traditional, petrochemically derived olefins. The production costs of bio-based olefins, derived from renewable sources, could be higher, impacting their market competitiveness, as bio-based olefins rely on feedstocks derived from renewable sources, including crops, waste biomass, or other bio-based materials. Furthermore, the production & sourcing of these feedstocks could be more expensive & subject to availability challenges, which are predicted to hamper the market growth.

Global Green Hydrogen Market Trend:

Highly-efficient Electrocatalyst to Enhance Green Hydrogen Fuel Production – The Electrocatalyst plays a significant role in energy-related reactions, which include oxygen reduction, oxygen evolution, and hydrogen evolution for sustainable energy transformation. A more competent and cost-effective new technology Electrocatalyst has evolved to produce green hydrogen from water, which facilitates high production of green hydrogen at a large scale. 

Electrocatalysis plays a pivotal role in the water-splitting electrolysis process to facilitate the production of green hydrogen that helps in energy conversion & storage, hence opening up new opportunities in the energy sector. Also to make it a commercially viable alternative, it can enhance its performance by adding nickel & cobalt to cheaper catalysts.

Furthermore, countries like France are also making necessary efforts to progress the production of green hydrogen at large. These efforts will strengthen the acceptance of green hydrogen as a fuel and act as an alternative to fossil fuels, which would help to deal with the worst effects of climate change in the coming years

Global Green Hydrogen Market (2024-30): Segmentation Analysis

The Global Green Hydrogen study by MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024–2030 at the global level. Based on the analysis, the market has been further classified as:

Based on Technology:

  • Proton Exchange Membrane Electrolyzer
  • Alkaline Electrolyzer
  • Solid Oxide Electrolyzer
  • Others

The Proton Exchange Membrane (PEM) Electrolyzer is expected to capture a notable share of the Green Hydrogen Market in the coming years, owing to its benefits over the other technologies, such as better rate of hydrogen production, compact design, and higher energy efficiency. Several companies have opted for this technology to produce green hydrogen. For instance:

  • In 2022, Linde, a UK-based industrial gases & engineering company, shared that it will build the world’s largest PEM Electrolyzer plant to produce green hydrogen in Germany at Leuna Chemical Complex. The plant would supply liquefied green hydrogen to its industrial consumers through pipelines.

Furthermore, the rising focus of the utilities towards the adoption of green hydrogen to improve sustainability in manufacturing is anticipated to increase the demand for Proton Exchange Membrane (PEM) Electrolyzer to produce green hydrogen in construction and pipe applications are driving the market growth from this segment in the coming years.

Based on End User:

  • Power Generation & Energy Storage
  • Automotive & Transportation
  • Industrial Feedstock
    • Refineries & Petrochemicals
    • Others (Food & Beverage, Steel, Cement Industries, etc.)

Automotive & Transportation is expected to hold a notable share in the Global Green Hydrogen Market in the forthcoming years. The progressive developments to achieve carbon neutrality by 2030, several car manufacturers have taken different approaches to reduce carbon emissions by using alternative and cleaner fuels to power automobiles, including cars, buses, etc.

Moreover, the burgeoning research & development in Fuel Cell Electric Vehicles (FCEVs) and hydrogen-powered cars, would create a positive impact on the technological advancement in green hydrogen as it is generated completely from renewable sources. Further, India is paving their way towards large-scale electric vehicle production, therefore there is huge potential for integrating green hydrogen as a fuel alternative in the forthcoming years.

Global Green Hydrogen Market (2024-30): Regional Projection

Geographically, Global Green Hydrogen Market expands across:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

North America accounted for a maximum revenue share in the Global Green Hydrogen Market in 2023 and would continue to dominate the market in the forecast years as well. North America is one of the regions globally, which is betting on green hydrogen as a viable source of energy, in the future and is already adopting and investing in its R&D, actively. The region has an enormous capacity to generate renewable power through solar, wind, etc.

To bring down its carbon emissions in line with the Paris Agreement, it would continue to make significant initiatives, create policies, and explore diverse use cases for implementing green hydrogen. Moreover, looking at the region’s current statistics on renewable power generation, it has the potential to expand its renewable power generation in the forthcoming years.

Global Green Hydrogen Industry Recent Development:

  • 2023: Air Liquide and Siemens Energy, announced the inauguration of their joint venture gigawatt electrolyzer factory today in Berlin. The mass production of electrolyzer components will allow the manufacturing of low-carbon hydrogen at industrial scale & competitive cost, and foster an innovative European ecosystem.
  • 2023: TotalEnergies and Air Liquide, have signed an agreement for the long-term supply of green and low carbon hydrogen to the TotalEnergies refining and petrochemical platform in Normandy. The project will contribute to the decarbonization of the Gonfrevillle site, reducing its CO2 emissions by up to 150,000 tons a year.

Gain a Competitive Edge with Our Global Green Hydrogen Market Report

  • Global Green Hydrogen Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  • This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  • Global Green Hydrogen Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Green Hydrogen Market is expected to grow at a compound annual growth rate (CAGR) of 51.23% from 2024 to 2030.

   A. The increasing government support for the production is the prominent factor is expected to drive the Green Hydrogen Market during 2024-30.

   A. Electrolyzer Technology Providers (Cummins, MHI, Stiesdal A/S, Siemens, Thyssenkrupp, Other Potential Players), Renewable Power Generation Solution Providers (Acme Group, General Electric, Enel Green Power, Azure Power, AMEA Power, Statkraft), Green Hydrogen Manufacturing Company (Air Liquide, Linde, Air Products, GAIL Limited, Shell Plc, TotalEnergies, Adani Group, Other Potential Players) are the top players in the Green Hydrogen Market.

   A. Proton Exchange Membrane Electrolyzer held the largest share of the Green Hydrogen Market.

   A. North America would present growth prospects in the Green Hydrogen Market during 2024-30.

   A. The highly-efficient electrocatalyst to enhance green hydrogen fuel production to propel market growth are the key trends shaping the growth of the Green Hydrogen Market.

   A. The automotive to become a lucrative potential area are the growth opportunities driving the Green Hydrogen Market.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Hydrogen Industry Outlook, 2023
    1. Production vs Consumption (Million Tons)
    2. Key End Users & their Consumption Pattern
    3. Major Players involved in the Production of Hydrogen
  5. Green Hydrogen Electrolyzer Technology Comparative Analysis
    1. By Technology Type
    2. By OEM providers
    3. By Efficiency
    4. By Output Quality
    5. Others
  6. Global Green Hydrogen Market Standards, Regulations, and Policies
  7. Global Green Hydrogen Market Trends & Insights
  8. Global Green Hydrogen Market Dynamics
    1. Drivers
    2. Challenges
    3. Impact Analysis
  9. Global Green Hydrogen Market Outlook, 2024-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Technology
        1. Proton Exchange Membrane Electrolyzer– Market Size & Forecast 2024-2030F (Thousand Tons)
        2. Alkaline Electrolyzer– Market Size & Forecast 2024-2030F (Thousand Tons)
        3. Solid Oxide Electrolyzer– Market Size & Forecast 2024-2030F (Thousand Tons)
        4. Others– Market Size & Forecast 2024-2030F (Thousand Tons)
      2. By Energy Source
        1. Solar– Market Size & Forecast 2024-2030F (Thousand Tons)
        2. Wind– Market Size & Forecast 2024-2030F (Thousand Tons)
        3. Other Renewable Sources– Market Size & Forecast 2024-2030F (Thousand Tons)
      3. By End Users
        1. Power Generation & Energy Storage– Market Size & Forecast 2024-2030F (Thousand Tons)
        2. Automotive & Transportation– Market Size & Forecast 2024-2030F (Thousand Tons)
        3. Industrial Feedstock
          1. Refineries & Petrochemicals– Market Size & Forecast 2024-2030F (Thousand Tons)
          2. Steel & Cement Manufacturing– Market Size & Forecast 2024-2030F (Thousand Tons)
          3. Others (Food & Beverage, etc.) – Market Size & Forecast 2024-2030F (Thousand Tons)
      4. By Competitors
        1. Market Revenues
        2. Competition Characteristics
  10. North America Green Hydrogen Market Outlook, 2024-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2024-2030F (Thousand Tons)
      2. By Energy Source - Market Size & Forecast 2024-2030F (Thousand Tons)
      3. By End User- Market Size & Forecast 2024-2030F (Thousand Tons)
      4. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    4. Canada Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    5. Mexico Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
  11. South America Green Hydrogen Market Outlook, 2024-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2024-2030F (Thousand Tons)
      2. By Energy Source - Market Size & Forecast 2024-2030F (Thousand Tons)
      3. By End User- Market Size & Forecast 2024-2030F (Thousand Tons)
      4. By Country
        1. Brazil
        2. Rest of South America
    3. Brazil Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
  12. Europe Green Hydrogen Market Outlook, 2024-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2024-2030F (Thousand Tons)
      2. By Energy Source - Market Size & Forecast 2024-2030F (Thousand Tons)
      3. By End User- Market Size & Forecast 2024-2030F (Thousand Tons)
      4. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. The Netherlands
        7. Rest of Europe
    3. Germany Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    4. The UK Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    5. France Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    6. Italy Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    7. Spain Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    8. The Netherlands Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
  13. The Middle East & Africa Green Hydrogen Market Outlook 2024-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2024-2030F (Thousand Tons)
      2. By Energy Source - Market Size & Forecast 2024-2030F (Thousand Tons)
      3. By End User- Market Size & Forecast 2024-2030F (Thousand Tons)
      4. By Country
        1. The UAE
        2. Saudi Arabia
        3. Rest of GCC
        4. South Africa
        5. Rest of the Middle East & Africa
    3. The UAE Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    4. Saudi Arabia Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    5. Rest of GCC Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    6. South Africa Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
  14. Asia-Pacific Green Hydrogen Market Outlook 2024-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Technology- Market Size & Forecast 2024-2030F (Thousand Tons)
      2. By Energy Source - Market Size & Forecast 2024-2030F (Thousand Tons)
      3. By End User- Market Size & Forecast 2024-2030F (Thousand Tons)
      4. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia-Pacific
    3. China Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    4. India Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    5. Japan Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
    6. South Korea Green Hydrogen Market Outlook, 2024-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Volume (Thousand Tons)
  15. Global Green Hydrogen Market Key Strategic Imperatives for Success & Growth
  16. Global Green Hydrogen Key Stakeholders & Competition Alignment
    1. Company Profiles
      1. Electrolyzer Technology Providers
        1. Cummins
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        2. MHI
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        3. Stiesdal A/S
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        4. Siemens
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        5. Thyssenkrupp
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        6. Other Potential Players
      2. Renewable Power Generation Solution Providers
        1. Acme Group
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        2. General Electric
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        3. Enel Green Power
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        4. Azure Power
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        5. AMEA Power
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        6. Statkraft
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
      3. Green Hydrogen Manufacturing Company
        1. Air Liquide
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        2. Linde
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        3. Air Products
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        4. GAIL Limited
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        5. Shell Plc
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        6. TotalEnergies
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        7. Adani Group
          1. Business Overview
          2. Product Portfolio
          3. Strategic Alliances or Partnerships
          4. Recent Developments
          5. Financial Details
          6. Others
        8. Other Potential Players
  17. Disclaimer


Green Hydrogen Market Segmentation