Green Hydrogen Market Revenue, Statistics, Industry Growth and Demand Analysis Research Report till 2028
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Market Trends – High demand from Europe
VANCOUVER, BC, UNITED STATES, June 6, 2022 /EINPresswire.com/ --
The global green hydrogen market size is expected to reach USD 2,565.7 million in 2028 and register a revenue CAGR of 14.1% over the forecast period, according to the latest report by Emergen Research.
Rising demand for green hydrogen in the transport industry and increasing concerns about carbon emission are some key factors driving market revenue growth. Green hydrogen is a result of innovation in science and technology. Green hydrogen is produced by splitting water into hydrogen and oxygen through the use of an electrolyzer and electricity. Green hydrogen is mainly produced using natural resources, which makes it eco-friendlier and offers a sustainable substitute to fossil fuels for applications in various end-use industries.
Industries such as petrochemical, medical, and power among others are using green hydrogen in different ways, which is propelling global green hydrogen market revenue growth. Zero-emission manufacturing process and cost-competitiveness due to technological advancements are increasing applications of green hydrogen worldwide. Moreover, rising demand for Fuel Cell Electric Vehicles (FCEVs) is expanding continue to support revenue growth of the green hydrogen market. Green hydrogen is replacing conventional grey, brown, and blue hydrogen, and this trend is expected to drive market growth going ahead.
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The study offers comprehensive coverage of the qualitative and quantitative analysis of the Green Hydrogen market along with crucial statistical data about the Green Hydrogen market. The research study provides historical data and offers accurate forecast estimation until 2028. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
Major company profiles in the market report include AIR LIQUIDE, Engie, Siemens, Royal Dutch Shell PLC, Ballard Power Systems, Plug Power Inc., SGH2 Energy Global LLC, Cummins Inc., Linde, and Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd.
Highlights from the Report
In September 2021, Dubai announced that its green hydrogen project will enter “Expo 2020.” This innovative facility, which reaffirms United Arab Emirates’ (UAE) commitment to producing clean energy is a synergetic product among Dubai Electricity, Water Authority, and Siemens Energy. This step will drive the green mobility market in UAE, resulting in expansion of green hydrogen market in that country.
Alkaline electrolysis segment accounted for a significantly large revenue share in 2020 as this type has higher operating hours than Proton Exchange Membrane (PEM) electrolyzers. Alkaline electrolyzers utilize liquid alkaline solution of potassium or sodium hydroxide as main electrolytes. This is more economical, which thus makes it more affordable for many sectors, thereby leading to high demand in the industry.
Solar resources segment accounted for a significantly robust revenue share in 2020. Utilization of solar energy makes green hydrogen one of the most important Circular Carbon Economy (CCE) approaches to use natural resources.
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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Green Hydrogen industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
Emergen Research has segmented global green hydrogen market on the basis of technology, renewable resources, application, end-use, and region:
Technology Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)
Alkaline Electrolysis
Proton Exchange Membrane (PEM) Electrolysis
Renewable Resources (Revenue, USD Million, Volume, Kilotons; 2018–2028)
Solar Resources
Water Resources
Wind Resources
Application Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)
Power generation
Transport
Others
End-use Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)
Medical
Chemical
Petrochemicals
Grid injection
Others
The complete regional analysis covers:
North America (U.S., Canada, Mexico
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a comprehensive understanding of the impact of the COVID-19 pandemic on the overall market growth and expansion. COVID-19 has affected the global economy by interfering with production and demand, causing market disruption, and inducing financial instability.
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Key Points of Green Hydrogen Market:
Extensive coverage of the analysis of the Green Hydrogen market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Green Hydrogen market
Complete data about the key manufacturers and vendors in the Green Hydrogen market
Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements.
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