Latin America Green Hydrogen Market Growth, Size and Forecast Report 2033

MARKET OVERVIEW

The Latin America green hydrogen market reached a size of USD 101.28 Million in 2024. It is anticipated to grow rapidly, reaching USD 3,240.40 Million by 2033, expanding at a CAGR of 46.97% from 2025 to 2033. Growth is driven by favorable government incentives, rising foreign investments, advancing electrolyzer technology, decarbonization targets, and the region's abundant renewable energy resources.

STUDY ASSUMPTION YEARS

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

LATIN AMERICA GREEN HYDROGEN MARKET KEY TAKEAWAYS

• Current Market Size: USD 101.28 Million (2024)
• CAGR: 46.97% (2025-2033)
• Forecast Period: 2025-2033
• The Chilean government launched the "Green Hydrogen Action Plan 2023-2030" to promote green hydrogen production and industrialization.
• Latin America benefits from abundant solar and wind energy resources, especially in Chile and Brazil, supporting low-cost green hydrogen production.
• The market is segmented by technology (Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Others), application (Power Generation, Transport, Others), and distribution channel (Pipeline, Cargo).
• Key countries in the market are Brazil, Mexico, Argentina, Colombia, Chile, and Peru.

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MARKET GROWTH FACTORS

Latin America green hydrogen market is witnessing favorable government initiatives. For instance, Chile announced its "Green Hydrogen Action Plan 2023-2030" on 25 April 2024, to build and develop the green hydrogen industry while replacing polluting industries with sustainable ones. To reach carbon neutrality by 2050, governments in Latin America have also begun to regulate and incentivize the development of green hydrogen and a large portion of the region can play an important role internationally.

The region has substantial renewable energy potential particularly about solar and wind. Latin America had solar power demand between 24.8 and 27.4 gigawatts during 2023. Chile's Atacama Desert and northeast Brazil have favorable conditions. Chile shows strong solar and wind resources particularly in the Patagonian region of it. Brazil shows strong coastal wind resources. The resources suggest both countries may have potential for large scale green hydrogen electrolysis.

The market is driven by several factors, including foreign investments, the maturing of electrolyzer technologies, an increase in industrial demand for clean energy, and decarbonization targets across Latin America. Furthermore, increased subsidies by government regulators and corporate sustainability initiatives are likely to contribute greatly to the market's growth, at a CAGR of 46.97% from 2025 to 2033.

MARKET SEGMENTATION

Technology Insights:

• Proton Exchange Membrane Electrolyzer: Utilizes a solid polymer electrolyte for efficient hydrogen production.
• Alkaline Electrolyzer: Employs alkaline solutions to facilitate electrolysis.
• Others: Includes alternative electrolyzer technologies not specified above.

Application Insights:

• Power Generation: Use of green hydrogen as a fuel source for generating electricity.
• Transport: Application in fuel cell vehicles and other transportation modes.
• Others: Encompasses additional uses beyond power generation and transport.

Distribution Channel Insights:

• Pipeline: Delivery of green hydrogen through pipeline infrastructures.
• Cargo: Transportation and distribution of green hydrogen via cargo shipments.

Country Insights:

• Brazil
• Mexico
• Argentina
• Colombia
• Chile
• Peru
• Others

REGIONAL INSIGHTS

Brazil stands out as a dominant country in the Latin America green hydrogen market due to its vast wind power capacity and solar energy resources, particularly in the northeastern region and coastal areas. Combined with Chile's Atacama Desert solar potential and southern wind energy, these resources position Latin America as a key emerging hub for green hydrogen, driving rapid market growth with a forecast CAGR of 46.97% during 2025-2033.

RECENT DEVELOPMENTS & NEWS

On April 18, 2024, Linde announced that its subsidiary White Martins would construct, own, and operate a five-megawatt pressurized alkaline electrolyzer to produce green hydrogen in Jacareí, São Paulo, Brazil, using renewable solar and wind energy. On October 1, 2024, Vale partnered with Green Energy Park (GEP) to explore green hydrogen production opportunities in Brazil, strengthening the market's development momentum.

KEY PLAYERS

• Linde (White Martins)
• Vale
• Green Energy Park (GEP)

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I'm Joey Moore, a seasoned Research Analyst with 5+ years of experience in market research. Expert in data analysis, strategic planning, and industry insights.