Green Hydrogen Market Size, Share | Industry Forecast - 2028

Market Overview:
The Green Hydrogen Market is anticipated to expand at a significant growth rate, and the analysis period covered is 2022-2028, considering base year as 2021.

Green hydrogen is a highly reactive fuel produced through electrolysis using renewable energy sources. Electrolysis is the process of separating hydrogen from oxygen in water by using an electrical current. Green hydrogen from water electrolysis accounts for less than 0.1% of total hydrogen production. Green hydrogen produced from renewable sources eliminates the possibility of CO2 production. It produces energy with significantly lower carbon emissions than other energy sources such as coal and oil. Green hydrogen can be used as a substitute product to reduce greenhouse gas emissions.

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Market Dynamics:
Driver:
Many different types of vehicles are used in the mobility industry to transport goods from one location to another. These vehicles contribute to carbon emissions in the environment, which are the leading cause of air pollution. According to Statista, 276 million vehicles will be registered in the United States in 2020. Passenger cars, motorcycles, trucks, buses, and other vehicles are all included. In the same year, 11 million light trucks were sold in the United States. This demonstrates the vehicle's high adoption rate. Vehicles require a significant amount of fossil fuel to perform various tasks; these fuels are responsible for a significant amount of carbon emissions into the atmosphere.

Opportunities:
Government agencies are preparing to launch projects involving green hydrogen in order to reduce carbon emissions. The European Commission, for example, has been coordinating investments with industry through the Clean Hydrogen Alliance. There is also a framework in place to facilitate cross-border hydrogen projects through the use of more relaxed state aid rules. To develop hydrogen plants, the Commission devised a public-private partnership. Furthermore, in 2021, the United Kingdom announced plans to attract a 4 billion investment to launch a nationwide hydrogen economy. In addition, the US is funding a project to reduce clean hydrogen costs by 80% over the next decade.

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Segmentation Analysis Of Green Hydrogen Market
By Technology, the Alkaline Electrolyzer segment dominates the growth of the Green Hydrogen market. Alkaline electrolysis is a widely recognized, most developed, and most common technology for the production of electrolytic hydrogen. This industrial process has been around since the concept of commercial power is emerging at the beginning of the 20th century. Most of the hydrogen produced through electrolysis originates from the employment of alkaline electrolyzers.
• PEM
• Alkaline Electrolyzer
• Solid Oxide Electrolyzer
• Others

By Application, the Transport segment holds the maximum share of the Green Hydrogen market. In transportation, hydrogen is used to generate energy in internal combustion engines. The internal combustion engine fueled by gasoline is two to three times less efficient than the hydrogen fuel cell. The transportation sector is responsible for 29% of emissions of greenhouse gases which are further contributing to climate change in the world. According to the report published Energy Efficiency and Renewable Energy department, in 2022, heavy-duty trucks are responsible for more than 20% of transportation emissions and are the largest contributor to mobile nitrogen-oxide emissions in the United States.
• Power Generation
• Transport
• Others

Regional Analysis Of Green Hydrogen Market
Europe dominates the market growth of green hydrogen and is expected to continue its dominance over the forecasted period. Europe is considered a prominent market owing to the adoption of green hydrogen by major automotive manufacturers in the region. The Europe region consists of key automotive manufacturers such as Porsche, Ducati, BMW, and Audi. These are focusing on the development of manufacturing lightweight, fuel-efficient car engines. Moreover, The Global Fuel Economy (GFEI) Initiative promotes the introduction of cleaner, more energy-efficient vehicles in developing and transitional countries.

North America is anticipated to witness rapid growth in the green hydrogen market in the upcoming years. Countries such as US and Canada are significantly contributing to this rapid growth owing to the rapid adoption of electric vehicles containing hydrogen fuel cells such as cars, trucks, buses, planes, and ships. Hydrogen fuel cell-powered vehicles are more efficient, they travel longer distances using less energy. One kg of hydrogen contains about the same energy as a gallon of gasoline.

The Asia Pacific is the fastest-growing region of the green hydrogen market. This growth is largely driven by the rapidly developing economy advancements in technology, and new project development by the government. India has the most prominent market for green hydrogen, NITI Aayog; the Indian government's think tank recently released a report titled Harnessing Green Hydrogen-Opportunities for Deep Carbonisation in India, which involves a detailed plan on how the entire green hydrogen value chain could function.
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)

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Top Key Players Covered In Green Hydrogen Market
• Air Liquide
• Bloom Energy
• Cummins Inc.
• Engie
• Nel ASA
• Siemens Energy
• Toshiba Energy Systems & Solutions Corporation
• Linde plc.
• Air Products Inc.
• Uniper SE, and other major players.

Key Industry Development In The Green Hydrogen Market
In April 2020, Germany-based companies Siemens Gas and Power and Uniper SE announced a joint agreement on implementing projects that produce and use green hydrogen from renewable energy sources.

In November 2020, The Adani Group announced plans to invest US$ 70 Bn in green energy, which is expected to play a major role in India's transition to green energy.

Table Of Content
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2: Executive Summary

Chapter 3: Growth Opportunities By Segment
 3.1 By Technology
 3.2 By Application

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing
To Be Continue.

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