Mounting Inclination of Industries toward using Clean Energy to Drive the Global Green Hydrogen Market through 2026

According to MarkNtel Advisors, the Global Green Hydrogen Market is expected to witness around 15.7% CAGR during 2021-26. The market growth attributes primarily to the rising inclination of several end-users toward using a clean energy source instead of fossil fuels.

Green hydrogen is produced through the electrolysis process of water using power generated wind or solar. It is a highly efficient energy source as compared to fossil fuel. The governments of many key countries worldwide have announced their plans to implement Green Hydrogen in their respective nations. For Instance:

In 2021, Fusion Fuel Green (an Irish firm) and BGR Energy Systems (an Indian firm) signed an agreement to produce green hydrogen in Tamil Nadu, India.

Further, burgeoning investments to reduce the price of green hydrogen as a fuel and increasing government support for the production of green hydrogen are other crucial factors contributing to the overall market growth. Moreover, the favorable government policies to reduce carbon emissions, coupled with growing environmental concerns worldwide, are encouraging the adoption of green hydrogen, further states the research report, "Global Green Hydrogen Market Analysis, 2021."

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Europe Witnessed Considerable Market Growth in Recent Years

With the increasing preference & funding towards developing green hydrogen in recent years, Europe witnessed considerable market growth. Further, the rising inclination towards the clean energy source and the extensive presence of hydrogen in the region also drive the regional market.

Moreover, the increased focus of companies in the region to utilize green hydrogen across various industries, such as automotive, mining, etc., shall also positively contribute to the overall market growth across Europe in the coming years.

Food & Beverage Industry to Capture the Substantial Share of the Global Green Hydrogen Market

Several companies in the Food & Beverage (F&B) industry are taking several initiatives towards decarbonization in their manufacturing units, which, in turn, is fueling the demand for green hydrogen in the industry.

In addition, green hydrogen is considered a reliable power source for the daily operation of food & manufacturing units. Since it is a clean energy source, it can be used across several applications in the industry, such as production, processing, and packaging, reveals MarkNtel Advisors in their research report, "Global Green Hydrogen Market Analysis, 2021."

Browse the report with detailed TOC: https://www.marknteladvisors.com/research-library/global-green-hydrogen-market.html

According to MarkNtel Advisors, the leading players in the Global Green Hydrogen Market are Linde plc., Air Liquide, Siemens, Air Products & Chemicals, Plug Power, Nel Hydrogen, Green Hydrogen Systems, Solena Group, ERGOSUP, Loop Energy Inc., Bloom Energy.

Key Questions Answered in the Study
1. What are the current & future trends in the Global Green Hydrogen Market?
2. How has the industry been evolving in terms of geography & service adoption?
3. How has the competition been shaping across the globe, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Green Hydrogen Market?
5. What are the customer orientation, purchase behavior, and expectations from green hydrogen providers across the globe?

Market Segmentation:
1. By Technology (Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer, Others)

2. By End-User (Power Generation, Automotive, Mining, Food & Beverage, Others (Petrochemicals, Steel and Cement Industries))

3. By Location (Offshore, Onshore)

4. By Region (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

5. By Country (US, Canada, Mexico, Brazil, The U.K., Germany, France, Italy, India, China, Japan, South Korea, GCC, South Africa)

6. By Competitors (Linde plc., Air Liquide, Siemens, Air Products & Chemicals, Plug Power, Nel Hydrogen, Green Hydrogen Systems, Solena Group, ERGOSUP, Loop Energy Inc., Bloom Energy)

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