The green hydrogen market has been developing significantly since early 2000, and much has been attributed to the technological advancements in this field. The ecosystem of the green hydrogen market comprises technology suppliers, green hydrogen producers, and end users. The market is still developing, with Europe at the forefront, followed by North America, Asia-Pacific, U.K., China, and Rest-of-the-World.
Green Hydrogen Industry Overview
The global Green Hydrogen Market is expected to reach $4,455.8 million by 2031, with a CAGR of 5.13% during the forecast period 2021-2031. The increasing use of green hydrogen for applications such as oil & gas, petrochemical, electric vehicle, and power generation is expected to be the major driving factor for the market. The development of national and international “net zero” objectives has been one of the most noteworthy characteristics of climate policy in recent years. Europe, the U. K., China, South Korea, Japan, Canada, South Africa, and the U.S. have all adopted these objectives. While these are long-term goals, the impacts are far-reaching, far more so than, for example, an 80 percent decarbonization objective.
Increasing green hydrogen production is expected to have a multiplier impact on present renewables predictions, which are usually focused on direct electrification and decarbonization rather than ‘indirect’ electrification and decarbonization via hydrogen.
Green Hydrogen Market by Application
The green hydrogen market has been segmented based on application, including oil & gas, petrochemical, electric vehicle, power generation, and others. The major end users of green hydrogen in the oil and gas industry include different refining processes such as hydrocracking, hydroisomerization, hydrodealkylation, and hydrodesulphurization. The essential driver behind the adoption of green hydrogen in the oil & gas industry is reducing sulfur dioxide emissions and removing sulfur to prevent catalyst poisoning.
Green Hydrogen Market by Region
The regions discussed in this report include North America, Europe, Asia-Pacific, China, the U.K., and Rest-of-the-World. Europe is expected to account for the highest growth in the global green hydrogen market during the forecast period. The increasing demand for zero-emission energy in various end-user industries, such as oil & gas, petrochemical, electric vehicle, power generation, has led to a wide acceptance of green hydrogen, over time.
Key Market Players and Competition Synopsis
Linde, Air Liquide, Air Products Inc., ENGIE, Uniper SE, Siemens Energy, Green Hydrogen, Cummins Inc., Toshiba Energy Systems & Solutions Corporation, Nel ASA, SGH2 Energy Global, LLC, PLUG POWER INC., Loop Energy Inc., Ergosup, Ballard Power Systems
The companies that are profiled in the report have been selected based on a selective pool of players, primarily Tier-1 (holding 50-60% of the market) and mid-segment players (comprising 30-40% share), and small and emerging companies (holding the balance 10-20% share), based on various factors such as product portfolios, annual revenues, market penetrations, research, and development initiatives, along with a domestic and international presence in the green hydrogen industry.
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How This Report Can Add Value :
Product Strategy: The product segment helps the reader in understanding the different types of technologies (proton exchange membrane electrolyzer, alkaline electrolyzer, anion exchange membrane, solid oxide electrolyzer) associated with green hydrogen. The report also includes a thorough qualitative and quantitative analysis of various application areas (oil & gas, petrochemical, electric vehicle, power generation, and others). Additionally, the research also covers regional and country-wise analysis for different technologies and applications in the green hydrogen market.
Key questions answered in the Report :
- What are the key drivers and challenges in the global green hydrogen market?
- How does the supply chain function in the global green hydrogen market?
- Which technology is expected to witness the maximum demand growth in the global green hydrogen market during the period 2021-2031?
- Which are the key application areas for which green hydrogen may experience high demand during the forecast period 2021-2031?
- Which are the key suppliers of green hydrogen in different countries and regions?
- How is the industry expected to evolve during the forecast period 2021-2031?
- What are the key offerings of the prominent manufacturers in the global green hydrogen market?
- Which regions and countries are leading in terms of consumption of green hydrogen, and which of them are expected to witness high demand growth from 2021 to 2031?
- What are the key consumer attributes in various countries in the global green hydrogen market?
- Which are the major patents filed in the green hydrogen space?
- What are the key developmental strategies implemented by the key players to sustain the competitive market?
- What is the competitive strength of the key players in the green hydrogen market based on their recent developments, product offerings, and regional presence?
- Who are the key players (along with their detailed analysis and profiles, including their company snapshots, key products and services, and strength and weakness analysis) in the market?
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