Global Green Hydrogen Market to Capture a CAGR of 5.23% Between 2023 and 2030 While Touching Approximately USD 4238.1 Million by 2030

Market Overview:

The global market for Green hydrogen estimated at USD 2986.1 Million in 2023 is projected to reach a revised size of USD 4238.1 Million by 2030, growing at a CAGR of 5.23% over the period 2023-2030.

Green hydrogen is produced by splitting water into hydrogen and oxygen using renewable electricity. It is a clean and sustainable fuel source that emits no carbon emissions during production or use. It has applications in transportation, power generation, and industrial processes. Green hydrogen can be used in fuel cell vehicles, as a fuel source in gas turbines, as a storage medium for renewable energy, and as a feedstock for chemical production. It offers a promising and sustainable alternative to fossil fuels, contributing to the transition to a low-carbon economy.

Top Key Players Covered Are:

"Air Liquide (France),  Siemens Energy (Germany), Linde (Ireland), Nel ASA (Norway), Hydrogenics Corporation (Canada), McPhy Energy (France), Plug Power (USA), Ballard Power Systems (Canada), Engie (France), ITM Power (UK), FuelCell Energy (USA), PowerCell Sweden AB (Sweden), Hexagon Composites (Norway), Green Hydrogen Systems (Denmark), Acciona (Spain), Enapter AG (Germany), Toshiba Energy Systems & Solutions Corporation (Japan), Doosan Fuel Cell (South Korea), H2V INDUSTRY (France), Solena Group (USA)".

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Market Dynamics:

Driver:

The rising demand for green hydrogen is fueled by its potential to reduce carbon footprints and achieve net-zero emissions targets in various industries. Additionally, its versatility as an energy storage solution and its sustainable use as a clean feedstock further contribute to the growing market demand. Government support through policies and incentives is also playing a significant role in driving the adoption of green hydrogen. The increasing demand for green hydrogen stems from its ability to provide a clean and sustainable alternative to harmful renewable energy sources. Industries seeking to reduce their carbon footprint are driving the market growth. Additionally, the versatility of green hydrogen as an energy storage solution and a feedstock in industrial processes contributes to its rising demand. Government initiatives and incentives further bolster the market for green hydrogen.

Opportunities:

International trade in green hydrogen presents a significant opportunity as countries with abundant renewable energy resources can export it to those with less favourable conditions. This trade helps reduce dependence on fossil fuels, increase energy security, create new business opportunities, and promote economic growth. It also plays a vital role in reducing greenhouse gas emissions, achieving emission reduction targets, and driving technological innovation in production and transport methods.

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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis.

Segmentation Analysis Of The Green Hydrogen Market

Green hydrogen market segments cover the application, end-use, feedstock, technology, source, and distribution channel. By end use, the industrial segment is expected to dominate the market forecast period.

By Technology

·       Alkaline Electrolyzer

·       Polymer Electrolyte Membrane (PEM) Electrolyzer

By Source

·       Solar Power

·       Wind Power

·       Hydroelectric Power

·       Geothermal Power

·       Biomass

·       Tidal Power

·       Wave Power

·       Waste-To-Energy

By Application

·       Transport

·       Power

By End-use

·       Medical

·       Food & Beverages

·       Industrial

·       Household

By Feedstock

·       Chemical

·       Products

By Distribution Channel

·       Pipeline

·       Cargo

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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Assnalysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

Regional Analysis Of The Green Hydrogen Market

Europe is expected to dominate the market over the forecast period.

·       There is a large number of green hydrogen manufacturers in Europe region. Europe is investing heavily in the development of green hydrogen. Member states are also investing in hydrogen infrastructure and research and development.

By Region          

·       North America (U.S., Canada, Mexico)

·       Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

·       Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

·       Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)

·       Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)

·       South America (Brazil, Argentina, Rest of SA)

Key Industry Developments In The Green Hydrogen Market

In April 2023, Linde Signs Agreement with ExxonMobil for Carbon Dioxide Off-take. ExxonMobil will transport and permanently store up to 2.2 million metric tons of carbon dioxide each year from Linde’s hydrogen production facility, equivalent to the emissions from nearly half a million cars per year.

In January 2023, Nel ASA: Nel signed an agreement with HH2E for a potential 120 MW capacity in Germany. HH2E’s two 60 MW plants will be among the largest green hydrogen production plants in Europe announced to date.

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Our team at Pristine Intelligence focuses on result-oriented methodologies which are based on historic and present data to produce authentic foretelling about the industry. Pristine Intelligence's extensive studies help our clients to make righteous decisions that make a positive impact on their business. Our customer-oriented business model firmly follows satisfactory service through which our brand name is recognized in the market.

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