Green Hydrogen Market - A Global and Regional Analysis: Focus on Application, Technology - Analysis and Forecast, 2021-2031

Green Hydrogen Market

The green hydrogen market has been developing significantly since early 2000, and much has been attributed to the technological advancements in this field. The ecosystem of the green hydrogen market comprises technology suppliers, green hydrogen producers, and end users. The market is still developing, with Europe at the forefront, followed by North America, Asia-Pacific, U.K., China, and Rest-of-the-World.

Green Hydrogen Industry Overview

The global green hydrogen market is expected to reach $4,455.8 million by 2031, with a CAGR of 5.13% during the forecast period 2021-2031. The increasing use of green hydrogen for applications such as oil & gas, petrochemical, electric vehicle, power generation is expected to be the major driving factor for the market. The development of national and international ""net zero"" objectives has been one of the most noteworthy characteristics of climate policy in recent years. Europe, the U. K., China, South Korea, Japan, Canada, South Africa, and the U.S. have all adopted these objectives. While these are long-term goals, the impacts are far-reaching, far more so than, for example, an 80 percent decarbonization objective.

Increasing green hydrogen production is expected to have a multiplier impact on present renewables predictions, which are usually focused on direct electrification and decarbonization rather than 'indirect' electrification and decarbonization via hydrogen.

Market Segmentation

Green Hydrogen Market by Application

The green hydrogen market has been segmented based on application, including oil & gas, petrochemical, electric vehicle, power generation, and others. The major end users of green hydrogen in the oil and gas industry include different refining processes such as hydrocracking, hydroisomerization, hydrodealkylation, and hydrodesulphurization. The essential driver behind the adoption of green hydrogen in the oil & gas industry is reducing sulfur dioxide emissions and removing sulfur to prevent catalyst poisoning.

Green Hydrogen Market by Region

The regions discussed in this report include North America, Europe, Asia-Pacific, China, the U.K., and Rest-of-the-World. Europe is expected to account for the highest growth in the global green hydrogen market during the forecast period. The increasing demand for zero-emission energy in various end-user industries, such as oil & gas, petrochemical, electric vehicle, power generation, has led to a wide acceptance of green hydrogen, over time.

Key Market Players and Competition Synopsis

Some of the key players operating in the market include Linde, Air Liquide, Air Products Inc., ENGIE, Uniper SE, Siemens Energy, Green Hydrogen, Cummins Inc., Toshiba Energy Systems & Solutions Corporation, Nel ASA, SGH2 Energy Global, LLC, PLUG POWER INC., Loop Energy Inc., Ergosup, Ballard Power Systems

The companies that are profiled in the report have been selected based on a selective pool of players, primarily Tier-1 (holding 50-60% of the market) and mid-segment players (comprising 30-40% share), and small and emerging companies (holding the balance 10-20% share), based on various factors such as product portfolios, annual revenues, market penetrations, research, and development initiatives, along with a domestic and international presence in the green hydrogen industry.

https://www.marketresearchdirect.com/report/green-hydrogen-market-a-global-and-regional-analysis-focus-on-application-technology-analysis-and-forecast-2021-2031-2/

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