Green Hydrogen Market Trends 2022 | Industry Growth, Size, Share, Demand and Forecast to 2028

By Sachin Pashte  | Date: January 06, 2023

Green Hydrogen Market Trends 2022 | Industry Growth, Size, Share, Demand and Forecast to 2028

According to reliable experts, global Green Hydrogen Market is expected to grow at a CAGR of 51% during the forecast period from 2019 to 2028.

The development of electrolysis technologies, the reduction in the cost of producing renewable energy from all sources, and the increasing demand from fuel cell electric vehicles (FCEVs) & the power sector are some of the primary factors driving the growth of global green hydrogen industry.

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For the record, green hydrogen, which is increasingly essential for achieving energy transition and ensuring a sustainable future, is a fuel created by electrolysis that splits water into oxygen and hydrogen using clean energy like solar or wind. Along with serving as an energy storage medium, green hydrogen is now used mostly in the chemical and petrochemical industries.

In addition, the government's growing investments in creating eco-friendly hydrogen ecosystems and the surging acceptance of hydrogen as an energy source are anticipated to fuel overall market expansion.

Worldwide green hydrogen marketplace is segmented on the basis of the application landscape, storage, technology, and end-user vertical. Based on the storage, the market is fragmented into liquid and gas.

The competitive landscape of global green hydrogen market is defined by companies such as Shell plc, Uniper SE, Engie SA, Toshiba Energy Systems & Solutions Corporation, Air Products and Chemicals Inc., Adani New Industries Limited, Air Liquide S.A., Linde plc, Siemens Gas & Power GmbH & Co., Ceres Power Holdings plc, ITM Power plc, FuelCell Energy Inc., The Messer Group GmbH, Cummins Inc., Ballard Power Systems Inc., and Plug Power Inc.

Moving on to technology, the industry is bifurcated into solid oxide electrolyzers, polymer membrane electrolyzers (PEM), and alkaline water electrolyzers (ALK). Among these, the polymer electrolyte membrane vertical is anticipated to hold a substantial share of the market in the coming years.

Citing the application landscape, the marketplace is segmented into transportation¸ power generation & energy storage, and others (feedstock to produce green ammonia, etc.) Out of these, the power generation & energy storage vertical is expected to observe considerable growth in the ensuing years.

With respect to the end-user segment, the industry is categorized into industrial, aviation, automotive, and others (marine, etc.).

From a regional standpoint, the industry extends to Middle East & Africa, Asia-Pacific, Western Europe, Eastern Europe, Latin America, and North America.

Question & Answer: Global Green Hydrogen Market

Question 1: Which factors are contributing to global green hydrogen market growth?

Answer: The development of electrolysis technologies, the reduction in the cost of producing renewable energy from all sources, and the increasing demand from FCEVs & the power sector are some of the primary factors driving the growth of global green hydrogen industry.

Question 2: Which additional factors are contributing towards global green hydrogen market remuneration?

Answer: The government's growing investments in creating eco-friendly hydrogen ecosystems and the surging acceptance of hydrogen as an energy source are a few additional factors anticipated to fuel overall market expansion.

Question 3: Which companies are profiled in global green hydrogen market report?

Answer: The competitive landscape of global green hydrogen industry is defined by companies such as Shell plc, Uniper SE, Engie SA, Toshiba Energy Systems & Solutions Corporation, Air Products and Chemicals Inc., Adani New Industries Limited, Air Liquide S.A., Linde plc, Siemens Gas & Power GmbH & Co., Ceres Power Holdings plc, ITM Power plc, FuelCell Energy Inc., The Messer Group GmbH, Cummins Inc., Ballard Power Systems Inc., and Plug Power Inc.

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About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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