The global green hydrogen market size is expected to reach USD 2,565.7 million in 2028 and register a revenue CAGR of 14.1% over the forecast period, according to the latest report by Emergen Research. Rising demand for green hydrogen in the transport industry and increasing concerns about carbon emission are some key factors driving market revenue growth.Green hydrogen is a result of innovation in science and technology. Green hydrogen is produced by splitting water into hydrogen and oxygen through the use of an electrolyzer and electricity. Green hydrogen is mainly produced using natural resources, which makes it eco-friendlier and offers a sustainable substitute to fossil fuels for applications in various end-use industries.
The report is inclusive of updated information about the current global economic situation in view of the COVID-19 outbreak. The global health emergency has led to several significant changes in the global economy, and subsequently, the Green Hydrogen business sector. These changes have, therefore, brought about a large number of business risks and threats for the companies operating in this industry. Hence, the report offers an overall assessment of this ever-evolving market and closely studies the present and future effects of the pandemic on this market.
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Competitive Outlook:
This section of the report performs a thorough investigation into the intensely competitive landscape of the global Green Hydrogen market, highlighting the leading manufacturers, strategic initiatives adopted by them, the existing growth prospects, market positions, and market shares held by each participant. The report further emphasizes the developmental strategies undertaken by these companies, including product innovation, new product launches, and technological upgradation. Moreover, the report studies the notable business events observed in this industry, such as mergers acquisitions, joint ventures, partnerships, corporate deals, and brand promotions. The key industry participants include: AIR LIQUIDE, Engie, Siemens, Royal Dutch Shell PLC, Ballard Power Systems, Plug Power Inc., SGH2 Energy Global LLC, Cummins Inc., Linde, and Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd.
Green Hydrogen Market Segmentation
The global Green Hydrogen market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Green Hydrogen market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Green Hydrogen market.
Emergen Research has segmented global green hydrogen market on the basis of technology, renewable resources, application, end-use, and region:
Technology Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)
Alkaline Electrolysis
Proton Exchange Membrane (PEM) Electrolysis
Renewable Resources (Revenue, USD Million, Volume, Kilotons; 2018–2028)
Solar Resources
Water Resources
Wind Resources
Application Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)
Power generation
Transport
Others
End-use Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)
Medical
Chemical
Petrochemicals
Grid injection
Others
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Some Key Highlights from the Report
In September 2021, Dubai announced that its green hydrogen project will enter “Expo 2020.” This innovative facility, which reaffirms United Arab Emirates’ (UAE) commitment to producing clean energy is a synergetic product among Dubai Electricity, Water Authority, and Siemens Energy. This step will drive the green mobility market in UAE, resulting in expansion of green hydrogen market in that country.
Alkaline electrolysis segment accounted for a significantly large revenue share in 2020 as this type has higher operating hours than Proton Exchange Membrane (PEM) electrolyzers. Alkaline electrolyzers utilize liquid alkaline solution of potassium or sodium hydroxide as main electrolytes. This is more economical, which thus makes it more affordable for many sectors, thereby leading to high demand in the industry.
Solar resources segment accounted for a significantly robust revenue share in 2020. Utilization of solar energy makes green hydrogen one of the most important Circular Carbon Economy (CCE) approaches to use natural resources. Moreover, steady decrease in prices of solar modules is further giving rise to its application worldwide and transforming the industry from hydrocarbon to solar electrification.
Key Objectives of the Global Green Hydrogen Market Report:
An all-inclusive analysis and forecast estimation of the market have been included in this report.
The report offers valuable insights into the major drivers, limitations, opportunities, and challenges faced by the global Green Hydrogen market and its leading players.
The report sheds light on the prominent market contenders, as well as their business strategies and long-term expansion plans.
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The report presents a detailed analysis of the industry to project market growth throughout the forecast period of 2021-2028. It also examines the current trends, offers an analysis of the emerging trends, and provides insightful information of the overall market scenario. The report is backed with authentic data obtained from stringent primary and secondary research such as interviews, journals, databases, and other reliable sources. The data is further validated by the industry experts and professionals.
On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the RD sector.
In conclusion, the report provides a qualitative and quantitative analysis of the Global Green Hydrogen market, including the global and regional analysis of the market. The study covers critical information and factual data about the Green Hydrogen industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Green Hydrogen market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Green Hydrogen industry.
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