Green Hydrogen Market 2021: Europe to Flourish During the Advent of the Forecast Period
Green hydrogen refers to the hydrogen-powered fuel that is often derived from the process of electrolysis of water with the electricity that is generated by low-carbon power sources. It is often extracted by the process of splitting water in a highly produced solution. The average global price of green hydrogen often changes from the higher to the lower end from time to time. However, the current volume of green hydrogen is often produced by fossil fuel sources with around the bulk of the latter coming from carbon-based sources.
[197+ Pages Report] The latest findings and offers on the green hydrogen market released by Facts & Factors in a neatly titled “Global Green Hydrogen Market”. In this study, the global green hydrogen market is estimated to value around USD 1,423.2 Million by 2026 and will grow at an estimated CAGR rate of 13.8% to an overall value of USD 755 Million in the year 2020.
The global green hydrogen market is expected to exhibit a higher market revenue during the advent of the forecast period owing to the rising number of government policies favoring the popularity of green hydrogen in the energy sector coupled with rising environmental concerns regarding increasing carbon emissions from fossil fuel usage to name a few. Additionally, the rising presence of projects associated with the integration of green hydrogen coupled with the increased allotment of resources dedicated entirely for the transportation of the latter will increase the footprint of the global green hydrogen market during the advent of the forecast period. Moreover, the ability of green hydrogen to be stored easily and used at a later pace and rising adoption of the fuel will push the existing boundaries of the global green hydrogen market to a new horizon.
The global green hydrogen market is driven by rising demand for lowering the cost of producing renewable energy by all sources coupled with higher demand from FCEVs and the power sector to name a few. Factors pertaining to the rising integration of green hydrogen in the mobility sector coupled with rising government initiatives for establishing individual ecosystems will increase the consumer base for the global green hydrogen market during the advent of the forecast period. However, a higher capital cost of the electrolyzer coupled with a low presence of lower-cost hydrogen production devices will decrease the growth of the global green hydrogen market to some extent.
The global green hydrogen market is divided into an alkaline electrolyzer, proton exchange membrane, and solid oxide electrolyzer on the basis of technology. The segment pertaining to the alkaline electrolytes is expected to witness the largest market share during the advent of the forecast period owing to increased preference of the latter when compared to its counterparts owing to a conventional use case scenario coupled with a lower running cost to name a few. Based on the source, the global green hydrogen market is categorized into wind energy, solar energy, and others. The wind energy segment is expected to witness the largest market share during the advent of the forecast period owing to larger adoption of the latter technology coupled with easy availability of the latter to name a few. The global green hydrogen market is fragmented into mobility, chemical, power, industrial, grid injection, and others on the basis of application. The mobility category is expected to occupy the largest market share during the advent of the forecast period owing to the mobility sector being utilized in on and off-road solutions, transportation, rail, maritime, and aviation coupled with the latter being a viable and sustainable source of medium to name a few.
Global Green Hydrogen Market: Report Scope
|Market Size in 2020||USD 755 Million|
|Projected Market Size in 2026||USD 1,423.2 Million|
|CAGR Growth Rate||13.8% CAGR|
|Key Market Players||Linde, Air Liquide, Air Products and Chemicals, Inc., Uniper SE, Siemens, Green Hydrogen, Hydrogenics, and Others|
|Key Segments||Technology, Source, Applications, and Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Purchase Options||Request customized purchase options to meet your research needs. Explore purchase options|
Industry Major Market Players
- Air Liquide
- Air Products and Chemicals Inc.
- Uniper SE
- Green Hydrogen
- Toshiba Energy Systems & Solutions Corp
- Nel ASA
- Cummincs Inc.
- Guangdong Nation-Synergy Hydrogen Power Technology Co. Ltd
- Air Liquide
- Air Products and Chemicals Inc.
Browse detail report with in-depth TOC @ Green Hydrogen Market Size & Share, 2021-2026
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