The Green Hydrogen Market: A Comprehensive Analysis
According to recent study by MarkNtel Advisors the Global Green Hydrogen Market is projected to witness a compound annual growth rate (CAGR) of around 51.23% between 2024-2030. Various factors, including market trends, size, forecasts, growth factors, challenges, and competitor assessments drive this growth.
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Green Hydrogen Market Segmentation Analysis: 2024-2030
The Green Hydrogen Market is segmented into:
By Technology
- Proton Exchange Membrane Electrolyzer– Market Size & Forecast 2024-2030F (Thousand Tons)
- Alkaline Electrolyzer– Market Size & Forecast 2024-2030F (Thousand Tons)
- Solid Oxide Electrolyzer– Market Size & Forecast 2024-2030F (Thousand Tons)
- Others– Market Size & Forecast 2024-2030F (Thousand Tons)
By Energy Source
- Solar– Market Size & Forecast 2024-2030F (Thousand Tons)
- Wind– Market Size & Forecast 2024-2030F (Thousand Tons)
- Other Renewable Sources– Market Size & Forecast 2024-2030F (Thousand Tons)
By End Users
- Power Generation & Energy Storage– Market Size & Forecast 2024-2030F (Thousand Tons)
- Automotive & Transportation– Market Size & Forecast 2024-2030F (Thousand Tons)
- Industrial Feedstock
- Refineries & Petrochemicals– Market Size & Forecast 2024-2030F (Thousand Tons)
- Steel & Cement Manufacturing– Market Size & Forecast 2024-2030F (Thousand Tons)
- Others (Food & Beverage, etc.) – Market Size & Forecast 2024-2030F (Thousand Tons)
and each segment is further divided into subdivisions, providing a detailed breakdown of the market dynamics.
Global Green Hydrogen Market Opportunity:
Automotive to Become a Lucrative Potential Area – In the long term, the automotive sector has an enormous opportunity for implementing green hydrogen as an alternative to phase out the usage of fossil fuels, and can also become an alternative to lithium-ion battery-based systems for mobility applications. The advent of electric vehicle (EVs) demands huge investment in building charging infrastructure plus challenges about its range.
If the costs related to green hydrogen are reduced, the automakers, including trucks, heavy vehicles, forklifts, cars, etc., could utilize green hydrogen for powering vehicles with zero carbon emissions and generate electricity on the go. In addition, top green hydrogen companies, like General Motors (GM), Hyundai, Honda, and Toyota, among several others, have shown keen interest in integrating green hydrogen in Electric Vehicles (EV) and Hydrogen-based Fuel Cell Electric Vehicles (FCEVs). For instance:
- In 2023, Honda announced its plans to sell a new fuel-cell electric vehicle in Japan and North America starting in 2024. The FCEV would be equipped with a next-generation fuel cell system codeveloped with US carmaker General Motors.
Therefore, the automotive industry holds colossal opportunities for green hydrogen and would become a lucrative area of investment for automakers in the coming years.
Global Green Hydrogen Market Challenge:
Difficulties in Transportation & Storage of Green Hydrogen – Before the large-scale commercialization of green hydrogen, the complete process has multiple challenges, including the high cost of plant setup & operational costs, supply chain development, integration with energy vectors, and increasing complexity of the technologies. The period required to achieve the economies of scale using the well-interlinked production machinery, feedstock & process is the most prominent factor determining the selling price of green hydrogen.
Geographical Coverage of Global Green Hydrogen Market
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
North America has captured a significant market share in the Global Green Hydrogen Market, primarily due to high-level investments in the healthcare sector across countries like the US, Canada, and Mexico. North America has emerged as a prominent hub for Green Hydrogen solutions, witnessing rapid growth over the historical period.
Top Leading key Players of Global Green Hydrogen Market
Electrolyzer Technology Providers
- Cummins
- MHI
- Stiesdal A/S
- Siemens
- Thyssenkrupp
- Other Potential Players
Renewable Power Generation Solution Providers
- Acme Group
- General Electric
- Enel Green Power
- Azure Power
- AMEA Power
- Statkraft
Green Hydrogen Manufacturing Company
- Air Liquide
- Linde
- Air Products
- GAIL Limited
- Shell Plc
- TotalEnergies
- Adani Group
- Other Potential Players
Common Queries
- What is the current trajectory of cost and profit estimations in the Green Hydrogen Industry?
- How do factors like supply and consumption shape the landscape of the industry?
- In what ways do import and export considerations impact the dynamics of the Green Hydrogen Industry?
- Which technological advancements are anticipated to shape the future of the Green Hydrogen Market?
- Who are the noteworthy players highlighted in the Green Hydrogen Market research report?
- What are the anticipated USD valuations and the CAGR for the forecasted years?
Who we Are?
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, Saudi Arabia, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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