| Source: Facts & Factors
Pune, INDIA
NEW YORK, US, Aug. 16, 2022 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Green Hydrogen Market By Type (Solid Oxide Electrolyzer, Alkaline Electrolyzer, and Proton Exchange Membrane Electrolyzer), By Use (Transport, Power Generation, and Others) By Customer (Petrochemicals, Glass, Food & Beverages, Chemical, Medical, and Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2028” in its research database.
“According to the latest research study, the demand of global Green Hydrogen Market size & share was valued at approximately USD 0.8 billion in 2021. The market is expected to grow above a CAGR of 55.2% and is anticipated to reach over USD 10.2 billion by 2028.”
The report analyses the Green Hydrogen market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Green Hydrogen market.
What is Green Hydrogen? How big is the Green Hydrogen Industry?
Hydrogen is the most abundant and lightest element on the planet. It is a rich source of energy and significantly more efficient than other fuels, and has numerous industrial applications ranging from refinement to petrochemical products to steel manufacturing. Green hydrogen is created by electrolyzing water with regenerative energy sources. Water is separated into hydrogen and oxygen in an electrolyzer using electric current and grey hydrogen generated from fossil fuels (like natural gas) is separated.
The physicochemical characteristics of hydrogen are unappreciated. Hydrogen is environmentally safe and may be stored & transformed into power or heat as needed. Green hydrogen is an important component of the energy equation, and hydrogen is viewed as a major potential renewable energy supply. It is one of the most significant circular carbon economy (CCE) ideas because it is produced using solar energy.
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Our Free Sample Report Consists of the Following:
Key Insights from Primary Research
Market Growth Drivers
The increasing popularity of Green Globe Projects are driving the market’s growth
Green hydrogen is produced using an electrolysis process in which water is split into oxygen and hydrogen using power supplied from renewable sources. The decreasing cost of reusable power and electrolysis technology will result in increased demand for green hydrogen, boosting the global green hydrogen market growth. Several industries, including oil & gas, steel, utilities, and fertilizers, are turning to green hydrogen to balance the intermittent nature of reusable resources.
Furthermore, this sort of hydrogen is widely employed as an energy alternative for decarbonizing the industrial, transportation, and chemical domains. Aside from these industrial applications, the advantage of keeping green hydrogen in existing gas pipes to power domestic appliances would result in a gradual growth in household demand for green hydrogen. However, green hydrogen is extremely difficult and costly to preserve and transport. Because it is highly combustible and has a poor volumetric density, it necessitates significant investment in pipelines and carriers. Furthermore, a lack of skilled personnel is a problem limiting the global market’s expansion and growth.
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Green Hydrogen Market: COVID-19 Impact Analysis
Hydrogen production has been affected by the global epidemic of COVID-19. Lockdowns from early 2020 to mid-2021 generated a plethora of problems, including a reduction in labour and personnel availability, logistical difficulties, and a shaky supply chain. These difficulties have not deterred renewable energy from becoming more popular, leading in an enormous revenue boost for the worldwide green hydrogen market. Global market growth is expected to return to normal and gain momentum in the future.
Competitive Players
The report contains qualitative and quantitative research on the global green hydrogen market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Some of the main players in the global green hydrogen market include
Browse in full “Green Hydrogen Market By Type (Solid Oxide Electrolyzer, Alkaline Electrolyzer, and Proton Exchange Membrane Electrolyzer), By Use (Transport, Power Generation, and Others) By Customer (Petrochemicals, Glass, Food & Beverages, Chemical, Medical, and Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2028” report at https://www.fnfresearch.com/green-hydrogen-market
Green Hydrogen Market: Segmentation Analysis
The global green hydrogen market is segregated on the basis of type, use, customer, and region.
By type, the market is divided into solid oxide electrolyzer, alkaline electrolyzer, and proton exchange membrane electrolyzer. The alkaline electrolyze segment has the largest market share by technology because of its higher operational time capacity and low capital cost.
By use, the market is divided into transport, power generation, and others. Among these, the power generation category dominates the market by the application due to demand from the manufacturing industry for on-site electrolyze setup.
By customer, the market is segmented into petrochemicals, glass, food & beverages, chemical, medical, and others. The chemical segment dominates the market because the chemical industry is a significant producer of hydrogen which is used both internally and externally.
Regional Analysis:
The European region has the biggest share of the global green hydrogen market. During the forecast period, the European region is anticipated to grow at a rapid pace. This is due to the industry’s solid, lengthy infrastructure and a wide range of possibilities. Furthermore, the cost of renewable generation is falling, which is yet another factor pushing its growth.
Asia Pacific region is the green hydrogen market’s fastest-expanding region. Due to its potential to create vast facilities for storing green hydrogen, Asia Pacific will be the fastest-expanding region in the global market. China may play a vital role in this region’s economic progress.
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The global Green Hydrogen market is segmented as follows:
By Type
By Use
By Customer
By Region
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