Press release
Green Hydrogen Market to Witness Huge Growth by Key Players: Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, Nel ASA
Global Green Hydrogen Market 2021-2026, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team.The green hydrogen market is driven by the faction like the development of electrolysis technologies, lowering the cost of producing renewable energy by all sources, and rising demand from FCEVs and the power industry. Therefore the green hydrogen market is estimated to reach the highest CAGR of 58.0% and is predicted to grow from $444 million to $4373 million by 2026.
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Green hydrogen is utilized in various industries like chemical, power, mobility, industrial, grid injection, and others. Due to the zero-emission manufacturing process, green hydrogen replaces conventional brown, gray, and blue hydrogen. In addition, the technological advancements in the market make green hydrogen cost-competitive. Moreover, green hydrogen provides a sustainable substitute for fossil fuels to many end-use industries.
Based on the end-use segment, mobility is the substantial segment of green hydrogen. Green hydrogen utilized in mobility includes vehicles used in rail, maritime or aviation, road/off-road transportation. Therefore, the hydrogen provider thrice more times more energy per unit compared to fossil fuels. Previously, the mobility industry had no other sustainable alternative to fossil fuels. Fuel Cell Electric Vehicles(FCEV) offer an alternative to fossil fuels. Therefore, green hydrogen is a practical and viable substitute for the automotive industry.
Based on volume, Alkaline electrolysis technology is the most widely preferred technology in producing green hydrogen across the globe. Alkaline electrolysis uses two-electrode lowered in a basic electrolyte solution like potassium hydroxide or sodium, isolated by a non-conductive porous known as the diaphragm. Therefore, the alkaline electrolysis segment of the green hydrogen market is set to witness the largest share of 70% of the overall market. As compared to PEM electrolysis, alkaline electrolysis produces pure green hydrogen and is utilized widely.
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Prominent market players in the green hydrogen market are Siemens Energy AG (Germany), Toshiba Energy Systems & Solutions Corporation (Japan), Nel ASA (Norway), Linde (Ireland), Cummins Inc. (US), H&R Ölwerke Schindler GmbH (Germany), Wind to Gas Energy GmbH & Co. KG (Germany), Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd. (China), Air Liquide (France), and Air Products and Chemicals, Inc. (the US).
The study includes an in-depth competitive analysis of these key players in the green hydrogen market, with their company profiles, recent developments, and key market strategies. The report also includes regional analysis covering vital regions like North America, Europe, South America, Asia Pacific, the Middle East, and Africa.
Europe accounts for the largest share of the global green hydrogen market. This is because the many manufacturers of green hydrogen operate in this region. Therefore, Germany accounts for a significant share of the worldwide hydrogen market and is predicted to witness substantial growth during the forecast period. Moreover, the rising mobility and power industry is the driving factor propelling the market growth.
The green hydrogen market research report covers the market overview, size, CAGR, and forecast till 2026. It also incorporates the market segmentation by technology (Alkaline electrolysis and PEM electrolysis), By renewable source; Solar Energy, Wind Energy, and other, By End-use Industries; Chemical, Mobility, Power, Grid Injection, Industrial and other; By region like Europe, MEA, APAC. Latin America. Moreover, the report also highlights market restraints, opportunities, drivers, and upcoming challenges.
Scope of the Report:
-The report provides information about market share utilizing different methodologies and analyses to provide accurate and in-depth information about the market.
-The report also portrays market and industry experts’ perspective that allows understanding the global green hydrogen market more clearly and concisely.
-Expert solutions combined with potential capabilities make this green hydrogen research report outshining. Also, it incorporates market strategies, financial terms & specific business.
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