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Green Hydrogen Market to Grow by USD 46.25 Billion from 2024-2028, Adoption of Clean Fuel Boosts Growth, Report on the AI Impact on Market Trends – Technavio

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 NEW YORK, Nov. 11, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global green hydrogen market size is estimated to grow by USD 46.25 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  66.83%  during the forecast period. Growing adoption of clean fuel is driving market growth, with a trend towards growing focus on using clean hydrogen in refineries. However, high initial cost  poses a challenge.Key market players include ACWA Power International, Air Liquide SA, Air Products and Chemicals Inc., Ballard Power Systems Inc., Bloom Energy Corp., Ceres Power Holdings plc, Cummins Inc., ERGOSUP, Green Hydrogen Systems, Guangdong Nation Synergy Hydrogen Power Technologies Co Ltd., Indian Oil Corp. Ltd., Jindal Steel and Power Ltd., Larsen and Toubro Ltd., Linde Plc, Loop Energy Inc., Nel ASA, Nikola Corp., Plug Power Inc., Siemens Energy AG, and Solena Group.

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Green Hydrogen Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 66.83%

Market growth 2024-2028

USD 46249.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

50.43

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 57%

Key countries

China, Germany, US, Japan, and France

Key companies profiled

ACWA Power International, Air Liquide SA, Air Products and Chemicals Inc., Ballard Power Systems Inc., Bloom Energy Corp., Ceres Power Holdings plc, Cummins Inc., ERGOSUP, Green Hydrogen Systems, Guangdong Nation Synergy Hydrogen Power Technologies Co Ltd., Indian Oil Corp. Ltd., Jindal Steel and Power Ltd., Larsen and Toubro Ltd., Linde Plc, Loop Energy Inc., Nel ASA, Nikola Corp., Plug Power Inc., Siemens Energy AG, and Solena Group

Market Driver

The Green Hydrogen market is surging as businesses and governments seek clean energy solutions for their energy needs. Renewable energy sources like wind and solar are driving the production of hydrogen through electrolysis. Electrolysis uses alkaline or Proton Exchange Membrane (PEM) electrolyzers to separate hydrogen from water. Major players like Air Liquide are investing in renewable liquid hydrogen, produced from excess renewable energy. Supportive policies in regions like California, with de-carbonization targets, are boosting demand. Hydrogen can be used as a fuel in fuel cells for transportation, power generation, and even in internal combustion engines. It’s also being explored for heating applications, aircraft fuel, and space applications. The International Energy Agency predicts a significant increase in hydrogen production as part of the energy transition to a carbon-free economy. Companies like Engie and Hydrogenics are leading strategic initiatives in hydrogen production and infrastructure development. The challenge lies in efficiency and environmental issues, but alternative energy sources like natural gas-hydrogen fuel mixtures offer a potential solution. Investment plans are on the rise as the world moves towards a low-carbon economy and combats climate change. Offshore wind is a promising source for hydrogen production at commercial scale. The future of the hydrogen economy looks bright, with opportunities in various sectors and applications. 

The refining industry is a significant consumer of hydrogen, utilizing it for various purposes such as refining crude oil into refined fuels and removing impurities like sulfur. According to the US Energy Information Administration (US EIA), this demand is increasing due to stricter regulations on sulfur content in distillate fuel oil. One notable initiative promoting the use of clean hydrogen in refineries is the REFHYNE project, which commenced in January 2018 and concluded in December 2022. This European Union-funded project aimed to demonstrate the feasibility of using renewable hydrogen in refineries, contributing to the reduction of greenhouse gas emissions. 

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 Market Challenges

The Green Hydrogen market is gaining momentum as businesses and governments seek clean energy solutions for their energy needs. Renewable energy sources like wind and solar are key to producing hydrogen through electrolysis. However, challenges exist in scaling up production using alkaline electrolyzers and PEM electrolyzers with proton exchange membranes. Commercial-scale production and transportation via pipelines require significant investment. Fuel cells, used in transportation and power generation, offer efficiency and low carbon emissions. Hydrogen can also replace natural gas in internal combustion engines, power aircraft, and serve various domestic and space applications. Supportive policies in regions like California, driven by de-carbonization targets, are crucial. Companies like Air Liquide, Engie, and Hydrogenics are leading the way in renewable liquid hydrogen production. The International Energy Agency encourages the transition from fossil fuels to a hydrogen economy, addressing environmental issues and greenhouse gas emissions. Solid oxide electrolyzers and heating applications are also strategic initiatives. Offshore wind is a promising source for hydrogen production in a carbon-free economy.Green hydrogen, produced through water electrolysis using renewable energy, carries a higher initial cost compared to grey hydrogen derived from natural gas. The setup cost for a green hydrogen production plant is substantial. On average, green hydrogen costs around 2-3 times more than grey hydrogen. Fuel cells used for green hydrogen power are priced 1.5 to 2 times higher than their fossil fuel counterparts. As a synthetic fuel, green hydrogen’s cost is nearly 5-7 times more than fossil jet fuel. According to The Energy and Resources Institute (TERI), the production cost of green hydrogen is approximately USD5–USD6 per kg. This rate makes it economically unfeasible for industries such as steel, fertilizer, and long-range shipping to adopt green hydrogen as a fuel source.

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Segment Overview 

This green hydrogen market report extensively covers market segmentation by  

End-user 1.1 Chemical1.2 Power1.3 Industrial1.4 OthersTechnology 2.1 Alkaline electrolyzer2.2 Polymer electrolyte membrane (PEM) electrolyzerGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Chemical-  Green hydrogen is a crucial supply in the chemical industry, primarily used for synthesizing methanol and ammonia. These chemicals are essential ingredients in manufacturing methanol, polymers, and ammonia, significantly contributing to the fertilizer sector. Green hydrogen also finds application in producing chemical compounds such as paints, synthetic fibers, nylon, polyurethane elastomers, and plasticizing plastics. The chemical industry’s rising demand for green feedstock or precursor molecules, like ammonia and methanol, produced using low-CO2 hydrogen and green hydrogen, is a significant growth driver. These green chemicals are further converted into high-value end-products for various sectors, including automotive, electronics, and pharmaceuticals. Additionally, methanol derived from green hydrogen is used as a direct fuel or blended fuel, such as gasoline, and in LPG streams, increasing its demand in the transportation sector. China is a notable consumer of methanol and its derivatives, blending it into gasoline pools or LPG streams as a cost-effective substitute. Consequently, the expanding demand for fertilizers, direct fuels, and domestic fuel products will propel the growth of the global green hydrogen market during the forecast period.

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Research Analysis

The Green Hydrogen market is a rapidly growing sector in the renewable energy industry, focused on producing hydrogen through electrolysis using only renewable energy sources such as wind and solar. This process is key to the Hydrogen Economy, which aims to reduce carbon emissions by replacing fossil fuels with clean energy solutions. Electrolysis involves passing an electric current through water to split it into hydrogen and oxygen. Alkaline electrolyzers and Proton Exchange Membrane (PEM) electrolyzers are the two main types. Renewable liquid hydrogen produced at commercial scale is transported through pipelines for use in various sectors, including transportation via fuel cells in cars, buses, and trucks, as well as in power generation, aviation, and industrial processes. Supportive policies and advancements in technology are driving the growth of this market, as the world seeks to address energy needs while reducing greenhouse gas emissions and transitioning away from fossil fuels. The International Energy Agency projects that hydrogen could meet up to 24% of global energy demand by 2050. However, challenges remain, including efficiency concerns and environmental issues related to hydrogen production and transportation. Alternative energy sources, such as natural gas-hydrogen fuel mixtures, are also being explored to improve the economic viability and reduce the carbon footprint of hydrogen production.

Market Research Overview

The Green Hydrogen market is a rapidly growing sector in the renewable energy industry, focused on producing hydrogen through electrolysis using only renewable energy sources such as wind and solar. This clean energy solution is a key component of the hydrogen economy, which aims to reduce carbon emissions and transition to low-carbon sources for various energy needs. Electrolysis involves passing an electric current through water to split it into hydrogen and oxygen. There are two main types of electrolyzers: alkaline and Proton Exchange Membrane (PEM). At commercial scale, hydrogen can be used as a fuel for transportation, fuel cells, internal combustion engines, hydrogen-powered aircraft, and power generation. It also has applications in heating, domestic use, and even in space. Supportive policies and investment plans, especially in regions like California with de-carbonization targets, are driving the growth of the green hydrogen market. The International Energy Agency has identified hydrogen as a crucial alternative energy source in the fight against fossil fuels and greenhouse gas emissions. Companies are also exploring strategic initiatives, such as natural gas-hydrogen fuel mixtures, to make the transition more feasible. The hydrogen production process itself is undergoing innovation, with the development of solid oxide electrolyzers and offshore wind integration.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userChemicalPowerIndustrialOthersTechnologyAlkaline ElectrolyzerPolymer Electrolyte Membrane (PEM) ElectrolyzerGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Wulcea Elevates Consumer Trust in Heated Apparel Through Multi-National Safety Certifications and Rigorous Technical Testing

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October 31, 2026

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NEW YORK, Oct. 31, 2026 /PRNewswire/ — As smart heated clothing gains broader adoption, consumers are paying closer attention to the safety and reliability of the technology behind these products. Wulcea, a brand specializing in graphene-powered heated apparel, combines its flexible GrapheneNano™ heating technology with documented safety compliance and durability testing for its heating components and battery systems.

“Trust in smart heated apparel goes beyond warmth—it comes down to confidence in battery safety and heating element reliability,” said John C, Founder of Wulcea. “Our goal is to give users peace of mind through certified technical standards.”

Advanced Graphene Heating Elements Supported by Global Standards

At the core of Wulcea’s thermal architecture is its GrapheneNano™ heating technology. Engineered to eliminate garment stiffness, Wulcea integrates flexible graphene elements that deliver balanced warmth across key upper-body zones while preserving natural garment drape and full freedom of movement.

Wulcea supports its heating components with applicable compliance documentation for major markets. These include CE and FCC compliance documentation addressing relevant electrical and electromagnetic compatibility requirements, as well as PSE compliance for applicable products in Japan. RoHS compliance further addresses restrictions on specified hazardous substances in applicable electrical and electronic components.

Multi-Certified Battery System for Dependable Power

To power its heating elements, Wulcea pairs its heated apparel with rechargeable battery systems designed for convenient everyday use. Featuring a compact design and housed in dedicated interior pockets, the batteries provide portable power while maintaining a streamlined garment profile and comfortable fit.

Wulcea backs its battery options with comprehensive third-party accreditations. UL certification demonstrates that the battery system has been evaluated against recognized power bank safety requirements, covering key areas such as overcharge protection, short-circuit protection, and thermal safety. The battery systems are also supported by applicable CE and FCC compliance documentation, addressing relevant regulatory requirements for electrical and electromagnetic compatibility.

For daily handling and travel, RoHS compliance validates that the battery system meets stringent global standards for material safety. The battery models have also undergone applicable UN 38.3 testing, supporting compliance with international requirements for lithium battery transportation.

Real-World Durability and Practical Usability

Component compliance forms Wulcea’s foundation, but reliability is defined by real-world performance. Built for high-flex endurance, Wulcea’s flexible graphene heating elements are tested through 10,000 active flexing cycles to maintain steady thermal output through repeated bending and everyday body movement.

Everyday convenience is equally essential. Built for hassle-free care, Wulcea’s heating elements withstand 100 machine-wash cycles under standard care guidelines, maintaining internal conductivity and structural stability under repeated laundering.

Integrated NTC temperature sensors provide thermal monitoring and are designed to stop heating if temperatures exceed 131°F (55°C). Combined with runtime of up to 10 hours on the low setting and a discreet interior control button, these features support practical everyday use in cold-weather conditions.

Aligning Technical Standards with Everyday Warmth

By combining graphene-based heating technology with documented battery safety compliance and durability testing, Wulcea continues to focus on the technical foundations of dependable heated apparel. This approach reflects the brand’s emphasis on bringing together safety considerations, practical functionality, and everyday comfort for cold-weather use.

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SOURCE Wulcea

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NIDS Co., Ltd. Confirms CES 2027 Participation, Pursues Expansion of Global Supply Chain for Environmental Sensors

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October 31, 2026

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Company introduced optical and gas sensors at SEDEX and is strengthening its composite sensor business for robotics, home appliances, automotive, and smart building applications

SEOUL, South Korea, Oct. 31, 2026 /PRNewswire/ — Environmental sensor manufacturer NIDS Co., Ltd. has confirmed its participation in CES 2027 and is moving to expand its global business-to-business (B2B) supply chain. Building on its experience supplying sensors to domestic and international home appliance and automotive companies, the company aims to secure overseas customers and extend its applications into smart building HVAC and robotics.

NIDS recently participated in the Korea Semiconductor Industry Association’s Sensor Pavilion at SEDEX 2026, held at COEX in Seoul, where it introduced its next-generation sensor modules. The company said the exhibition allowed it to raise awareness of its technology among domestic home appliance and electronic component industry professionals and to lay the groundwork for collaboration in the sensor field.

The company will use CES 2027 as its next stage. NIDS plans to firm up discussions on sensor module supply with global home appliance makers, HVAC specialists, and robotics companies. It aims to extend the industry contacts gained at the domestic exhibition overseas and to convert product introductions into actual supply opportunities.

Founded in 2000, NIDS develops and manufactures environmental sensors and air quality management solutions. According to the company, it has supplied more than 10 million sensors cumulatively to domestic and international companies, including Dyson, Samsung Electronics, and Hyundai Motor. Drawing on this supply track record, the company intends to showcase its precision sensing technology and mass-production capabilities to overseas customers.

Its main products include particulate matter sensors, optical gas sensors based on non-dispersive infrared (NDIR) technology, composite environmental sensors, and electronic nose sensor modules. The particulate matter sensors measure PM1.0, PM2.5, and PM10, while the gas sensor lineup targets carbon dioxide (CO₂), carbon monoxide (CO), and other gases. The electronic nose is used for detecting everyday odors, gas leaks, and fires. The company said it designs the core components required for air quality measurement in-house and has a system in place to mass-produce 5 million units annually.

The area where NIDS will expand development and supply going forward is next-generation composite sensor modules. The company has been pursuing a sensor business that responds to industry-specific demand in home appliances, automotive, and smart building HVAC, and is now concentrating its capabilities on markets such as robotics, industrial safety, and odor detection based on this technology. Building on its experience supplying individual components, NIDS plans to continue developing and supplying, on a B2B basis, modules that handle multiple types of environmental data.

The company will also highlight its sensor product lineup and its newly developed ultra-compact MEMS sensor technology at the exhibition. NIDS plans to introduce its optical and gas sensor lineup along with examples of their application in actual air quality management systems. By explaining both the measurement functions of its components and its experience operating sensors for finished-product services, the company aims to broaden the scope of partnership discussions.

NIDS explained that, because it owns its precision sensors, it can control sensor sensitivity and tune algorithms to suit the system in which they are applied. Drawing on this technical operating experience, the company plans to pursue partnerships with customers and to promote its business capabilities extending from sensor components to air quality and odor management and industrial safety management.

NIDS will also leverage its existing branch network in its overseas market development. Through its overseas bases in the United States, Japan, and China, the company plans to widen its touchpoints with buyers and seek new supply opportunities in conjunction with its CES participation. Its goal is to generate export results by combining exhibition participation with its local networks.

The company intends to keep expanding the global supply of sensor components as a core pillar of its business. Building on the supply experience accumulated in home appliances and automotive, it will broaden its partners to robotics, HVAC, and smart buildings, and respond to industry-specific air quality measurement demand through the development of next-generation modules.

“We plan to continue expanding the development and B2B supply of next-generation composite sensor modules needed across a range of industries, including home appliances, automotive, and smart building HVAC,” NIDS said.

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SOURCE NIDS Co., Ltd.

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Towards Buddha Co., Ltd. and ICP DAS Showcase iTLC Intelligent Traffic Control Solutions at APTA 2026 in Chicago

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3 hours ago

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October 31, 2026

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Advancing smart intersection technologies and expanding international market opportunities through strategic collaboration

CHICAGO, Oct. 31, 2026 /PRNewswire/ — Towards Buddha Co., Ltd., an overseas distributor of the iTLC Intelligent Traffic Control System, joined its technology partner ICP DAS at APTA 2026 TRANSform & EXPO in Chicago, USA, to showcase the iTLC-9000 Series and its applications in intelligent traffic management.

The exhibition highlighted innovative traffic control technologies designed to support reliable, secure, and integrated smart intersection operations, while providing opportunities to connect with international transportation professionals and explore emerging market needs.

Innovative Traffic Control Solutions

Under the theme “Innovative Traffic Control System,” the exhibition featured the iTLC-9000 Series, highlighting four key capabilities: modular and redundant design, secure networking, traffic signal integration, and active alert systems.

These technologies are designed to support system reliability, communication security, and efficient traffic infrastructure management, addressing the evolving requirements of modern intelligent transportation systems.

As cities worldwide continue to modernize transportation infrastructure, integrated and adaptable traffic control solutions are becoming increasingly important for smart intersection development.

Strengthening International Market Connections

As an overseas distributor of iTLC solutions, Towards Buddha Co., Ltd. plays an important role in connecting traffic control technologies with international markets.

During APTA 2026, Towards Buddha Co., Ltd. and ICP DAS engaged with transportation professionals, system integrators, and industry representatives to introduce iTLC technologies, exchange industry insights, and explore potential business opportunities.

“APTA 2026 provided a valuable platform to connect with the global transportation industry,” said a representative of Towards Buddha Co., Ltd. “Together with ICP DAS, we look forward to expanding international awareness of iTLC solutions and developing new opportunities in intelligent traffic control.”

Looking Ahead

Building on its participation at APTA 2026, Towards Buddha Co., Ltd. will continue collaborating with ICP DAS to promote iTLC solutions, strengthen international partnerships, and explore new opportunities in the global intelligent transportation market.

About Towards Buddha Co., Ltd.

Towards Buddha Co., Ltd. is an overseas distributor of the iTLC Intelligent Traffic Control System, focused on international market development and connecting advanced traffic control technologies with transportation industry needs.

Media Contact

Towards Buddha Co., Ltd.
Contact: Michael Chen
Email: Towardsbuddhaincorporation@gmail.com
Website: https://www.towardsbuddha.com 

SOURCE Towards Buddha Co., Ltd.

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