Global Green Hydrogen Market Size to Grow at 51% CAGR Through 2028

Date: February 09, 2023

Global Green Hydrogen Market Size to Grow at 51% CAGR Through 2028

The recent research report on ‘Global Green Hydrogen Market’ available with MarketStudyReport, states that global green hydrogen market is poised to exhibit a 51% CAGR during 2022-2028.

Report findings suggest that advancement of electrolysis technologies, the reduction in the cost of producing renewable energy from all sources, and significant demand from fuel-cell electric vehicles (FCEVs) & the power sector are the main drivers influencing the growth of global green hydrogen market.

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For the unversed, green hydrogen, which is emerging as a crucial element in achieving energy transition and assuring a sustainable future, is a fuel created by electrolysis that splits water into hydrogen and oxygen using renewable energy sources like solar or wind. In addition to being a form of energy storage, green hydrogen is mainly used in the chemical and petrochemical industries.

Moreover, growing efforts of the government in creating eco-friendly hydrogen ecosystems as well as increasing awareness of hydrogen's potential as an energy source are expected to augment industry outlook in the coming years.

Based on technology terrain, the market is divided into solid oxide electrolyzer, alkaline water electrolyzer, and polymer membrane electrolyzer. Among these, the polymer membrane electrolyzer segment is slated to hold considerable market share during the forecast period.

In terms of storage, worldwide green hydrogen market is split into gas and liquid. On the basis of application, the industry is classified into transportation, power generation & energy storage, and others. Out of which, the power generation & energy storage segment is likely to gain traction in the coming years. Speaking of end-use, the market is branched into industrial, aviation, automotive, and others.

Regionally, the latest trends are studied across Middle East & Africa (Turkey, South Africa, GCC, Rest of MEA), Latin America (Brazil, Mexico, Rest of Latin America), Asia Pacific (ASEAN, Australia, South Korea, India, Japan, China, Rest of APAC), eastern Europe (Poland, Russia, rest of Eastern Europe), western Europe (France, UK, Germany, Spain, Nordic, Benelux, Italy, rest of western Europe) and North America (U.S. and Canada).

Moving to competitive landscape, Uniper SE, Engie S.A., Messer Group GmbH, Cummins Inc., Toshiba Energy Systems & Solutions Corporation, Air Products and Chemicals, Inc., Air Liquide S.A., Linde plc, Shell plc, Siemens Gas and Power GmbH & Co. KG, Ceres Power Holdings plc, Adani New Industries Limited, ITM Power plc, FuelCell Energy, Inc., Ballard Power Systems Inc., and Plug Power Inc. are the leading players in global green hydrogen industry.

Questions And Answers: Global Green Hydrogen Market

Q1. What are the growth determinants for global green hydrogen market?

Answer: Advancement of electrolysis technologies, reduction in the cost of producing renewable energy from all sources, and significant demand from FCEVs & the power sector are the main drivers influencing the growth of global green hydrogen market.

Q2. Which technology category is slated to contribute significantly to worldwide green hydrogen market earnings?

Answer: The poly membrane electrolyzer category of worldwide green hydrogen industry is poised to grow significantly over the forecast duration.

Q3. Which are the key players in global green hydrogen market?

Answer: Uniper SE, Engie S.A., Messer Group GmbH, Cummins Inc., Toshiba Energy Systems & Solutions Corporation, Air Products and Chemicals, Inc., Air Liquide S.A., Linde plc, Shell plc, Siemens Gas and Power GmbH & Co. KG, Ceres Power Holdings plc, Adani New Industries Limited, ITM Power plc, FuelCell Energy, Inc., Ballard Power Systems Inc., and Plug Power Inc. are the leading players in global green hydrogen market.

For more details on this report: https://www.marketstudyreport.com/reports/green-hydrogen-market-potential-market-size-and-global-outlook-till-2028/

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