Global Green Hydrogen Market Report 2021: Market is Expected to Reach $2.94 Billion in 2025 at a CAGR of 39.4% with Long-term Forecast to 2030 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Green Hydrogen Global Market Report 2021: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com’s offering.
The global green hydrogen market is expected to grow from $0.58 billion in 2020 to $0.78 billion in 2021 at a compound annual growth rate (CAGR) of 33.8%. The market is expected to reach $2.94 billion in 2025 at a CAGR of 39.4%.
The main types of technologies in green hydrogen are alkaline electrolyzer, proton exchange membrane electrolyzer, and solid oxide electrolyzer. Alkaline electrolyzers work by transporting hydroxide ions from the cathode to the anode through the electrolyte, with hydrogen created on the cathode side. It is used in power generation, transport, others and implemented in various verticals such as petrochemicals, food and beverages, medical, chemical, glass, others.
The green hydrogen market consists of sales of hydrogen-based fuel by entities (organizations, sole traders, and partnerships) that are produced from electrolyzing water by using electricity. Green hydrogen gas is created by dividing water into hydrogen and oxygen using an electrolyzer that can be powered by renewable energy sources. Green hydrogen is environmentally friendly and can be stored and converted back to energy or heat when required.
Europe was the largest region in the green hydrogen market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increasing environmental concerns are expected to propel the growth of the green hydrogen market in the forecast period. Green hydrogen is a hydrogen-based fuel that is made by electrolyzing water with electricity supplied from low-carbon sources. It will help in reducing carbon emissions and provide care to our planet.
For instance, International Energy Agency (IEA) aims to bring global energy-related carbon dioxide emissions to net-zero by 2050. Fossil fuels are one of the main contributors to poor air quality and they account for 80% of all the energy worldwide. Additionally, IEA estimates that by 2050 around 1.77 million premature deaths will occur due to indoor air pollution, and around 4.97 million premature deaths will occur due to outdoor air pollution.
According to World Health Organization, an estimated 4.2 to 7 million people die from air pollution worldwide every year, and nine out of ten people breathe air that contains high levels of pollutants. Therefore, increasing environmental concerns drive the growth of the green hydrogen market.
Scaling up of technologies is an emerging trend in the green hydrogen market. Advanced analytics is used in the green hydrogen market, it can transform data into business intelligence with actionable insights. Analytics can provide corrective action recommendations to maximize yields for green hydrogen, churning, and learning through data from plants, tanks, and pipes.
By forecasting the failures, energy losses can also be prevented. Kaiserwetter is one such company that is using analytics to address several green hydrogen challenges. Analytics can also be useful in providing blockchain solutions that can help in green hydrogen tracking.
For instance, in February 2021, Acciona, a Spanish firm that develops and manages infrastructure and renewable energy, has developed GreenH2chain, a blockchain-based platform that allows clients from all over the world to verify and visualize the complete green hydrogen value chain in real-time.
Key Topics Covered:
1. Executive Summary
2. Green Hydrogen Market Characteristics
3. Green Hydrogen Market Trends and Strategies
4. Impact Of COVID-19 On Green Hydrogen
5. Green Hydrogen Market Size and Growth
5.1. Global Green Hydrogen Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Green Hydrogen Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Green Hydrogen Market Segmentation
6.1. Global Green Hydrogen Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Alkaline Electrolyzer
- Proton Exchange Membrane Electrolyzer
- Solid Oxide Electrolyzer
6.2. Global Green Hydrogen Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Power Generation
6.3. Global Green Hydrogen Market, Segmentation by End-Use Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Food and Beverages
7. Green Hydrogen Market Regional and Country Analysis
7.1. Global Green Hydrogen Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Green Hydrogen Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Air Liquide
- Air Products and Chemicals Inc.
- Ballard Power Systems
- Fuel Cells Works
- Green Hydrogen Systems
- Linde Plc
- Nel Hydrogen
- Nikola Motors
- Plug Power Inc.
- Siemens Energy Global GmbH & Co. KG
- Solena Group
- Toshiba Energy Systems & Solutions Corporation
- Loop Energy Inc.
- Tianjin Mainland Hydrogen Equipment Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/oq58gn
Laura Wood, Senior Press Manager
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