The global green hydrogen market is anticipated to witness exponential growth during the forecast period: MRFR

Pune, India, May 2021, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Green Hydrogen Market.

Market Research Future published a Cooked Research Report on the global green hydrogenmarketthat contains information from 2022 to 2030.  The global green hydrogenmarketis expected to progress with ~57.41% CAGR from 2022 to 2030.

Taste the market data and market information presented through more than 100 market data tables and figures spread in 150 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Green hydrogen Market Information from 2022 to 2030."

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Green Hydrogen Market Research Report

Green hydrogen is usually obtained from clean sources rather than fossil fuels. The range of colors is used to describe a colorless clean-burning chemical that is used as a substitute for oil, coal, and natural gas in a wide variety of applications. Green hydrogen is made from the hydrolysis of water using electricity obtained from renewable sources such as solar and wind energy.

Europe region dominated the global hydrogen market in 2020. The presence of a strong renewable infrastructure and huge investment opportunities in the region has resulted in the dominance of Europe in the green hydrogen market. Additionally, a strong decline in the cost of renewable energy generation in Europe has further created lucrative opportunities in the coming years. According to the IEA’s Renewable Power Generation Costs in 2019 report, June, the cost of solar energy fell by 82% from 2010 to 2019. Over the same period, the cost of offshore wind dropped by 29%. This has resulted in creating substantial investment opportunities for the green hydrogen industry. Europe’s ambitious project to become “Net-Zero Emission” resulted in the growth of the overall green hydrogen market. European Institute of Innovation & Technology (EIT InnoEnergy) has launched the European Green Hydrogen Acceleration Center (EGHAC) to support the development of an annual €100 billion (USD 117.6 billion) green hydrogen economy by 2025.

The global green hydrogenmarket is projected to witness ~57.41% CAGR during the period from 2022 to 2030: MRFR

The global market for green hydrogenis segmented based ontechnology, application, location, and region. By technology, the global green hydrogen market has been segmented into alkaline electrolyzer, proton exchange membrane electrolyzer, and solid oxide electrolyzer. The transport segment held the largest share of the market during the study period. Alkaline electrolyzer, also known as alkaline electrolysis, is a technology used for large-scale hydrogen production. The technology is used to split the gases hydrogen and oxygen using electric energy. An alkaline electrolyzer consists of electrodes, a micro-porous separator, and an aqueous alkaline electrolyte of approximately 30 wt% KOH or NaOH.

By application, the global green hydrogen market has been segmented into transport, power generation, industries and heating. The transport segment held the largest share of the market during the study period. The declining cost of renewables and the urgency to curb greenhouse gas emissions are accelerating the growth potential of green hydrogen in the transportation industry. Green hydrogen is anticipated to prove as an alternative fuel for long-haul ships and road transportation. According to data published by the Hydrogen Council, by 2050, hydrogen technologies will supply 18% of the world’s total energy and power approximately 425 million vehicles. Additionally, the shipping industry is anticipated to garner huge potential for green hydrogen as an alternative fuel in the coming years.

By location, the global green hydrogen market has been segmented into onshore and offshore. Theonshore segment is projected to hold the larger share during the forecast period. In the onshore segment, green hydrogen is produced using solar or onshore wind power as an electricity source. Onshore green hydrogen production has vast potential and is influenced by many reasons. The cost of electricity procured from renewable energy sources such as solar PV and onshore wind farms has decreased substantially in the last decade. For instance, according to IRENA, onshore wind prices fell from 75 USD/MWh in 2010 to 48 USD/MWh in 2018.

By region, the green hydrogen market is segmented into Europe, Asia-Pacific, North America, the Middle East & Africa, and South America. North America dominates the green hydrogenmarket.It is one of the most prominent regions in the world and a lucrative market for green hydrogen across the globe. However, its future strongly depends upon the US policymakers that need to be in line with the European Union (EU) in making a major commitment to building infrastructure to grow its green hydrogen capacity. With constant environmental pressure upon major oil companies, automakers, and hydrogen and fuel cell manufacturers in decarbonizing, the industry is expected to witness a tremendous push in the coming years. The presence of some of the key renewal power projects in the region is anticipated to create lucrative growth opportunities for green hydrogen generation in the coming years.Such factors are expected to drive the growth of the green hydrogen market in North America during the forecast period.

The important players operating in the global green hydrogenmarketare Seimens (Germany), Uniper SE (Germany), Engie (France), Cummins Inc. (US), Air Liquide (France), Toshiba Corporation (Japan), NEL ASA (Norway), Air Products Inc (US), Linde (UK), Messer Group Gmbh (Germany), Mc Phy Energy (France), Plug Power Inc. (US), and ITM Power (UK).

This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the global green hydrogen market, including high-growth regions and/or countries and political and economic environments. The project report further provides historical market values and pricing & cost analysis.