Green Hydrogen Market 2023: Future Scope, Demands and Industry Growth by 2032
The global green hydrogen market size was valued at USD 3.5 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 39.7% from 2023 to 2032.
Green hydrogen is produced by the electrolysis of water for which electric power is utilized which is generated by renewable energy sources such as wind energy or solar energy. The presence of favorable government policies pushing toward the hydrogen economy along with growing environmental concerns regarding increasing carbon emissions from fossil fuel usage are expected to drive the demand for the hydrogen economy. This trend is anticipated to provide a potential growth landscape for the industry.
The Global “Green Hydrogen Market” Research report give detailed information with reference to market size, share, trends, growth, cost revenue, capacity, and forecast till 2032. This report also contains the general and in-depth study of the Green Hydrogen market with all its aspects influencing the growth of the market. This report is a full-scale quantitative survey of the Green Hydrogen market and provides information for developing strategies to expand the market growth and effectiveness.
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Top Leading Companies of Global Green Hydrogen Market are – Proton On-Site, 718th Research Institute of CSIC, Teledyne Energy Systems, Hydrogenics, Nel Hydrogen, Suzhou Jingli, Beijing Zhongdian, McPhy, Siemens, TianJin Mainland, Toshiba Energy Systems and Solutions Corporation, Idroenergy Spa, Erredue SpA and others.
Industry News and Updates:
JUN 23, 2022: Siemens Energy and Air Liquide’s JV to Produce 3 GW of Green Hydrogen Electrolyzers by 2025
Germany-based energy technology company Siemens Energy has announced a joint venture with Air Liquide, a French supplier of industrial gases and services, to produce industrial-scale renewable hydrogen electrolyzers in Europe. Siemens Energy announced that the joint venture will be headquartered in Berlin, Germany, and will begin hydrogen electrolyzers production by the second half of 2023, aiming to achieve an annual production capacity of 3 GW by 2025.
Market Overview:
The increasing demand for clean and renewable energy sources, along with government incentives and policies aimed at reducing greenhouse gas emissions, are driving the growth of the green hydrogen market. Green hydrogen, also known as renewable hydrogen, is produced through the electrolysis of water using renewable energy sources such as solar and wind power. This process results in zero emissions, making it a clean and sustainable energy source.
Europe accounted for a significant revenue share of about 50% in 2021 owing to the massive investments made by the European economies, aiming for an energy transition into a clean hydrogen-based economy over the coming years. For instance, in August 2019, the U.K. government announced a USD 14.8 billion investment plan for a project that is expected to use 4 GW of offshore wind for green hydrogen production by 2030. North America is anticipated to attain a prominent CAGR over the forecast period, with U.S. and Canada gradually enhancing the green hydrogen industry owing to the implementation of clean energy policies.
Scope Of the Report:
The Green Hydrogen Market is divided based on the product portfolio, application domain, and regional distribution. Market share, growth rate, and valuation information are also given for each industry, area, and nation. Additionally, the research includes future trends, stumbling blocks, and motivating elements that are expected to promote revenue input by category and area during the following few years.
Drivers and Restraints:
The Green Hydrogen Market drivers were acknowledged for their ability to describe how their efforts will affect the market’s overall growth over the forecast period. A comprehensive assessment of the relevance of the driving forces and potential obstructions that market participants may face in the Green Hydrogen Market is performed in order to predict anticipated future developments in the sector. The constraints of the Green Hydrogen Market could highlight issues that might impede the development of the conventional market. Understanding the negative aspects of the Green Hydrogen Market should enable businesses to broaden their approaches to issue solving, increasing their capacity to upend the pessimistic outlook.
Market Opportunities:
The Green Hydrogen Market Research Report also offers opportunities that business owners may take advantage of by applying the appropriate strategies. The study’s prospects help stakeholders and report buyers make wise investment decisions and increase their profitability.
Detailed Segmentation:
On the Basis of Types, the Global Green Hydrogen Market is segmented into: –
Alkaline (ALK) Electrolyzer
Proton Exchange Membrane (PEM) Electrolyzer
On the Basis of Application, the Global Green Hydrogen Market is segmented into: –
Wind Energy
Solar Energy
Biomass
Others
Regional Outlook:
The report’s primary insights into various regions and the major companies involved in each one are provided in this section. When evaluating a region’s or country’s growth, economic, social, environmental, technological, and political issues have all been taken into account. Additionally, each country’s and region’s revenue and sales information for the years 2018 through 2029 will be made available to readers.
The market has been divided into four key regions: North America, Europe, Asia-Pacific, and South America. The regional part will include a thorough analysis of important nations like the United States, Germany, the United Kingdom, Italy, France, China, Japan, South Korea, Southeast Asia, and India. Data will be provided for the market estimations using 2022 as the base year, followed by estimates for 2023 and a forecast value for 2029.
COVID-19 and Russia-Ukraine War (2022) Influence Analysis:
The section’s readers will understand how the Green Hydrogen market scenario altered around the world during the pandemic, post-pandemic, and Russia-Ukraine War. The analysis is conducted with changes in demand, consumption, transportation, consumer behavior, supply chain management, export and import, and manufacturing in mind. The essential elements that will assist players find chances and stabilize the business as a whole in the upcoming years have also been underlined by the industry experts.
The impact of the Green Hydrogen market report:
– Comprehensive assessment of all opportunities and risk in the Green Hydrogen market.
– Green Hydrogen market recent innovations and major events.
– Detailed study of business strategies for growth of the Green Hydrogen market-leading players.
– Conclusive study about the growth plot of Infrared Imaging market for forthcoming years.
– In-depth understanding of Green Hydrogen market-particular drivers, constraints and major micro markets.
– Favourable impression inside vital technological and market latest trends striking the Green Hydrogen market.
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Some of the important features of the report:
– Detailed overview of the Green Hydrogen market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of the Green Hydrogen market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
– A neutral perspective towards Green Hydrogen market performance
– Must-have information for market players to sustain and enhance their market footprint
The research includes historic data from 2018 to 2023 and forecasts until 2029 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
We Offer Customization on Report Based on Specific Client Requirement:
– Free Country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point.
– Free 15% customization equal to 60 analyst hours.
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