The finest Green Hydrogen report describes the specific and up to date information about the consumer’s demands, their preferences, and their variable likings for particular product. An examination of various segments that are supposed to witness the quickest development amid the estimated forecast frame is also performed in this market report. The best analytical methods have been utilized in the report, namely SWOT analysis and Porter’s Five Forces analysis as applicable. Market segmentation analysis conducted in the universal Green Hydrogen market survey report with respect to product type, applications, and geography is very encouraging in taking any verdict about the products.
Data Bridge Market Research analyses that the global green hydrogen market, which was USD 6.49 billion in 2023, is expected to reach USD 109.93 billion by 2031, growing at a CAGR of 42.42% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Market Overview
Green hydrogen refers to hydrogen produced through electrolysis powered by renewable energy sources such as wind or solar. It involves splitting water into hydrogen and oxygen, with the hydrogen generated considered "green" due to its zero-emission nature, offering a sustainable alternative to fossil fuel-derived hydrogen production methods.
In the expanding green hydrogen market, alkaline (ALK) electrolyzers such as those by Nel hydrogen are favored for large-scale industrial projects such as power-to-gas plants. Proton exchange membrane (PEM) electrolyzers, exemplified by products from companies such as ITM Power, excel in smaller, decentralized applications such as hydrogen refueling stations. Solid oxide electrolyzers, such as those by sun fire, are preferred for high-temperature industrial processes such as steel production.
Some of the major players operating in the global green hydrogen market are:
· Siemens Energy (Germany)
· Nel ASA (Norway)
· Plug Power Inc. (U.S.)
· ITM Power PLC (U.K.)
· McPhy Energy S.A (France)
· Ballard Power Systems (Canada)
· Cummins Inc.(U.S.)
· Linde plc (U.K.)
· ENGIE SA (France)
· Kawasaki Heavy Industries, Ltd. (Japan)
· PowerCell Sweden AB (Sweden)
· Green Hydrogen Systems (Denmark)
· BayoTech (U.S.)
· Enapter S.r.l. (Germany)
· Areva H2Gen (France)
· HydrogenPro (Norway)
· Topsoe A/S (Denmark)
Recent Development
· In April 2023, Sinopec announced plans for a 400km green hydrogen pipeline from Inner Mongolia to Beijing, a first in China. With 100,000-tonne annual capacity, it aims to transfer renewable-produced hydrogen, signaling a key stride in decarbonization. Green hydrogen, sourced sustainably, emerges as a vital fossil fuel alternative, driving market momentum
· In April 2020, Siemens Gas and Power and Uniper SE, both Germany-based firms, forged a collaborative pact to develop projects generating and utilizing green hydrogen from renewables. This initiative aims to propel the commercial viability of green hydrogen, offering a sustainable alternative to conventional fossil fuels
Table of Contents:
• Introduction
• Market Segmentation
• Executive Summary
• Premium Insights
• Global Green Hydrogen Market: Regulations
• Market Overview
• Global Green Hydrogen Market, By Type
• Global Green Hydrogen Market, By Application
• Global Green Hydrogen Market, By Region
• Global Green Hydrogen Market: Company Landscape
• SWOT Analyses
• Company Profile
• Questionnaires
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