The Global Green Hydrogen Market was seen at a value of US$ 1.83 billion in 2021. Green hydrogen is produced by using renewable energy sources relatively than fossil fuels. There are variety of colours that can be used to describe a colourless burning chemical.
Global Green Hydrogen Market: Overview
Green hydrogen is formed when water is hydrolysed with the help of electricity. These are acquired from renewable energy sources such as solar or wind energy. The global market estimation reveals a healthy and an astound rate of growth.
The market is all set to see an increase in demand for green technologies, as well as government assistance for widespread implementation of zero-emission systems. This can be a stable and efficient substitute for essential sources such as natural gas, oil and coal in wide variety of applications.
The global green hydrogen market is endowing in the expansion of procedures that will help reduce production costs and improve infrastructure as the need for hydrogen grows across numerous industries.
The global green hydrogen market might increase at a good pace by the end of the global forecast period as a result of all of these factors, such as rising demand for renewable energy resources and government efforts.
Key Trends: Growth determinants and Challenges:
The global release of harmful greenhouse gases is due to the widespread and startled use of fossil fuels in coupling with industrialization. Gases such as carbon dioxide, nitrous oxide and methane play a significant role in raising the temperature of the plant and causing climate change.
The Global temperature is rising by one degree Celsius over the last century, environmentalists are cajoling people to desert the harmful use of fossil fuels as energy sources.
Emission control technologies are gaining propulsion in a variety of fields. The rising industrialization is thrusting the growth of green hydrogen market. The electrolysis, fermentation and steam reforming are all traditional methods for producing green hydrogen.
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The challenges that are needed to overcome as the key market players are related to commercialization and large-scale deployment of electrolysis process.
Segmental Analysis of Global Green Hydrogen Market:
Based on Technology
Solid Oxide Electrolyser
Alkaline Electrolyser
Proton exchange membrane Electrolyser
The Alkaline electrolyser segment is the most dominating share-holder, owing to its higher operating time capacity and low capital cost. Also, this segment is expected to expand at a faster pace during the forecast period.
Based on Application
Transport
Power Generation
Power generation segment has been the largest share-holder since 2019. This is so because of the industry sector on-site electrolyser.
Based on End-Use Industry
Food and Beverages
Petrochemicals
Glass
Chemical
Medical
The chemical sector is the key manufacturer of by-product hydrogen, which is consumed within the sector as well as distributed for industrial use.
Based on Region
North America
US
Mexico
Canada
Europe
Germany
Italy
United Kingdom
France
Spain
LAMEA
Saudi Arabia
Brazil
South Africa
Asia-Pacific
India
China
Japan
South Korea
The Global of Green Hydrogen is dominated by Europe. This is due to the business development from a large number of Green Hydrogen Projects.
Competitive Landscape:
Some of the leading market players are:
o Enapter
o Engie
o Ballard Power Systems
o Green Hydrogen Systems
o Nikola Motors
o Hydrogenics
o SGH2 Energy Global LLC
o Siemens Gas and Power Gmbh and Co.
o KG
o Shell
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Major Developments:
By 2030, hydrogen demand will grow at a steady and moderate pace through many vocational applications across the industrial, buildings, transport and energy sectors.
Through cross-sector collaborations, new alliances will form to develop hydrogen projects.
Major Questions answered in the report:
Which industry will increase the demand for Green Hydrogen Market?
Which are the top companies ruling the industry base of the Green Hydrogen Market?
What developments can be seen in the Global Green Hydrogen Market?
Key Takeaway from the Report:
Chemical industry is the major producer of by-product hydrogen.
Power-generation segment led the market share.
In-depth analysis of Green Hydrogen Market, along with key trends.
Challenges and Developments in the report are highlighted.
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