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Green Hydrogen Market Size, Share & Trends Analysis - Global opportunity analysis and industry forecast 2030

Green Hydrogen Market Size, Share & Trends Analysis - Global...

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Green Hydrogen Market Size, Share & Trends Analysis - Global opportunity analysis and industry forecast 2030
Green Hydrogen Market Size, Share...
Report Code
RO13/107/1407

Publish Date
31/Dec/2021

Pages
200
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The global green hydrogen market size was US$ 0.4 billion in 2021. The global green hydrogen market is forecast to grow to US$ 35.2 billion by 2030, registering a compound annual growth rate (CAGR) of 52.1% during the forecast period from 2022 to 2030. 

COVID-19 Impact Analysis

  • During the COVID-19 pandemic, the green hydrogen industry remained unaffected. However, coronavirus-related lockdowns created significant challenges for the industry participants. Those challenges included disruptions in supply chains, problems related to import-export of goods, and staff recruitment.
  • In addition, the pandemic surged the growth of the renewable energy market. The renewable energy market grew continuously in the previous years, owing to rising energy demand from industrial sectors. 
  • Furthermore, the pandemic has raised awareness about health and increased the demand for eco-friendly products. As a result of the pandemic, the global green hydrogen market will grow significantly in the coming years. 

Factors Influencing the Market Growth

  • The increasing demand for sustainable energy sources is forecast to benefit the global green hydrogen market during the study period. In addition, growing environmental issues and growing awareness about renewable/clean energy will fuel the growth of the market. 
  • Favorable government initiatives would act as a significant factor contributing to the growth of the global green hydrogen market. 
  • European Hydrogen Backbone is an initiative taken by the European Union, which aims to establish the dedicated hydrogen transport infrastructure in Europe. Around 11 European countries have joined hands in these initiatives.
  • Increasing urbanization and growing initiatives from automobile manufacturers are forecast to benefit the global green hydrogen market. Furthermore, the transport industry is witnessing significant growth across all verticals. All of this is forecast to contribute to the green hydrogen market growth during the study period. 
  • Growing investments to establish green hydrogen infrastructure and goals to attain net-zero net carbon emissions are propelling the market growth. Governments of various countries, such as China, are making investments to reduce pollution, which will surge the green hydrogen market growth.  
  • High production costs associated with green hydrogen may hamper the growth of the overall market during the study period. 

Regional Analysis

Europe holds the largest market share in the global green hydrogen market. It is attributed to the growing government initiatives in the region. In addition, favorable policies, such as European Green Deal which intends to drop greenhouse gas emissions, will benefit the regional market. Furthermore, the presence of prominent players, such as Porsche, BMW, and Audi, will benefit the market because these companies are focusing on manufacturing lightweight and fuel-efficient engines.

Competitors in the Market

  • Linde
  • Guangdong Synergy Hydrogen Power Technology 
  • Siemens 
  • H&R Olwerke Schindler 
  • Cummins and Enbridge Gas 
  • Wind to Gas Energy GmbH & Co. KG
  • Toshiba
  • Nel 
  • Other Prominent Players

Market Segmentation

The global green hydrogen market segmentation focuses on Technology, Application, End-Use Industry, and Region. 

By Technology

  • Proton exchange membrane electrolyzer
  • Alkaline electrolyzer
  • Solid oxide electrolyzer 

By Application 

  • Power generation
  • Transport
  • Others 

By End-use industry

  • Food & beverages
  • Medical
  • Chemical
  • Petrochemicals
  • Glass
  • Others

Based on Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

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