Global Green Hydrogen Market Report 2020 : Size, Share, Growth Rate, Business Module, Product Scope And Expansion 2028

The Green Hydrogen Market is estimated to be USD 1.01 Billion in 2020 and is projected to grow at a CAGR of 15.7% during the forecast period from 2020 to 2028. Our way of life needs an increasing amount of watts to function. The latest estimates by the International Energy Agency (IEA), published at the end of 2019, predict that global energy demand will increase by between 25 % and 30 % by 2040, which in an economy dependent on coal and oil would mean more CO2, exacerbating climate change. However, decarbonising the planet suggests a different world in 2050: one that is more accessible, efficient and sustainable, and driven by clean energies such as green hydrogen.

The demand for hydrogen reached an estimated 87 million metric tons (MT) in 2020, and is expected to grow to 500-680 million MT by 2050. Nevertheless, green hydrogen production technologies are seeing a renewed wave of interest. This is because the possible uses for hydrogen are expanding across multiple sectors including power generation, manufacturing processes in industries such as steelmaking and cement production, fuel cells for electric vehicles, heavy transport such as shipping, green ammonia production for fertilizers, cleaning products, refrigeration, and electricity grid stabilization.

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The Green Hydrogen Market research report offers a comprehensive analysis of the market structure and assessment of the various segments and sub-segments of the market. With the help of high-tech and accurate information presented in this report, businesses can understand the types of consumers, their needs and preferences, their perceptions of products, their intentions to purchase, their reactions to specific products, and their of different flavours. Specific products. Existing products on the market. The report is very helpful in defining the business strategies of small, medium and large companies. For an in-depth understanding of the market and the competitive landscape, the Green Hydrogen Market business report offers a host of parameters and detailed data.

Competitive Analysis:

Competition is a major subject in any market research analysis. This is a report provided with the help of the competitive analysis provided the players can easily study key strategies adopted by leading players in the Green Hydrogen Market. Major and emerging players of the market are closely studied taking into consideration their market share, production, revenue, sales growth, gross margin, product portfolio, and other significant factors. This will help players to become familiar with the moves of their toughest competitors in the market.

The key players in the market are: Symrise AG, Givaudan, Young Living Green Hydrogen, Berje Inc, Huabao, Hasegawa, Ventos SA, Do Terra, BASF SE, Solvay, Firmenich, Cargill, DSM, Mane SA, and Sensient Technologies and 20+ companies competing in the market.

Segmentation:

The Green Hydrogen Market report offers critical data based on systematic market segmentation. This study divides the market into multiple segments, including type, technology, application and geographic regions. In addition, the report includes other details, such as product use, production capacity, production information, and supply and demand market analysis. This study covers this segment's retail sales, share and market revenue for the periods 2023-2032. The Green Hydrogen Market is segmented as follows:

By Technology (Alkaline Electrolyser, Polymer Electrolyte Membrane (PEM) and Others), By End User (Automotive, Metal & Mining, Power & Energy, and Others)

Additional segmentation provided in the report

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Growth Factor of Green Hydrogen Market

• Green hydrogen is expected to play a significant role in decarbonizing those sectors of the economy that are hard to electrify, such as aviation, long-distance trucking, and heavy-duty manufacturing. The presence of favourable government policies to drive the hydrogen economy, along with rising environmental concerns about carbon emissions from the use of fossil fuels, is expected to drive the demand for green hydrogen.
• The demand for green hydrogen is being mainly driven by the proliferation of renewable energy sources in various end-use industries. Furthermore, the rising use of renewable energy has been estimated to result in lower costs for the production of clean energy and thus, have a positive effect on the green hydrogen market.

• The opportunity for green hydrogen to be used in a wide range of sectors will eventually enable many companies to benefit from a burgeoning hydrogen fuel economy. Perhaps the most important of these companies are the oil and gas companies, which are increasingly facing the demand for reducing fossil fuel usage. It is expected that an increase in the perception of hydrogen as an energy carrier would fuel the global demand for green hydrogen in the near future.

• The demand for green hydrogen has been growing since the last few years, as it helps reduce the carbon footprints. It can also help meet the increasing demand for power around the globe. Green hydrogen is a renewable energy and its adoption is, therefore, expected to increase in the near future.

Recent Developments:

• November 2020 - Linde has announced that the company will produce green hydrogen at its plants in Ontario, California to cater the customer demand in the region. This investment will help the company to provide 1,600 vehicles capacity green hydrogen per day and will also help reduce the CO2 footprint to 50,000 MT per year in the region.

• July, 2020 - Iberdrola has launched Europe's largest green hydrogen producing plant in Spain with the collaboration with Fertiberia, with an investment of USD 2.18 Billion till 2027 to produce 15,000 Tons of green hydrogen.

• May, 2020 - SGH2 (Part of Solena Group) is building the world's largest green hydrogen production facility in Lancaster, California. This plant has the capacity of 11,000 Kgs green hydrogen per day and 3.8 million kgs of green hydrogen per year.

• November 2019, Air Liquide, Durance, Luberon, Verdon urban area (DLVA) and ENGIE signed a cooperation agreement to develop "HyGreen Provence" that aimed to produce, store, and distribute green hydrogen. This project is developed in different stages and the first part delivery will take place in 2021, while the final project will be completed by 2027.

• Developments from 2015 to current time also included in the report or upon request for a specific timeline.

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Regional Analysis of Global Green Hydrogen Market:

Each of the regional market segments is analysed and studied in the sense of the major regional spectrum of market reach in the market report. The study also provides a comprehensive overview of key insights, such as import, export, development, demand and consumption. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia), Europe (Germany, France, United Kingdom, Russia and Italy), North America (United States, Canada, and Mexico), South America (Brazil, Argentina) and the Middle East and Africa (UAE, Egypt, Saudi Arabia, and South Africa) are some of the regions included by this research study.

North America: U.S., Canada, Rest of North America

Europe: France, UK, Spain, Germany, Italy, Rest of Europe

Asia Pacific: China, Japan, India, South Korea, Rest of Asia Pacific

The Middle East & Africa: Saudi Arabia, South Africa, Rest of the Middle East & Africa

Latin America: Brazil, Argentina, Rest of Latin America

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What can you anticipate from the report on the Global Green Hydrogen Market?

• Future forecasts for Green Hydrogen made during the forecast period.

• Up-to-date information about Lightweight Materials industry innovations, trends, devices, methods, and goods.

• A thorough examination of market segmentation based on kinds, devices, and goods.

• Government laws and economic variables influencing Green Hydrogen expansion.

• A look at the most well-known manufacturers.

• The market's demographics by region.

Conclusion:
The study is a compilation of Green Hydrogen-hand data, qualitative and quantitative data by industry analysts, and inputs from market experts and key participants over the value chain process. The study offers an in-depth analysis of the present market trends, micro and macro-economic pointers, and governing factors, along with industry attractiveness according to the segments. The report also maps the qualitative impact of various market factors on market segmentations and geographies.

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This release was published on openPR.