Press release
"Fueling the Future: Green Hydrogen Market Projected to Reach $12.8 Billion by 2030"
Meticulous Research® Forecasts Green Hydrogen Market to Reach $12.8 Billion by 2030, Propelled by Rapid Growth in Fuel Cell Electric Vehicles (FCEVs) and Government Initiatives for Net Zero-Emission[Your City, Date] - Meticulous Research®, a leading global market research company, has released a comprehensive research report titled "Green Hydrogen Market by Generation Process (PEM, Alkaline, Solid Oxide), Energy Source (Wind, Hydropower), Application (Fueling, Feedstock), End User (Transportation, Chemical Production, Power Generation), and Geography - Global Forecast to 2030." According to this report, the green hydrogen market is set to achieve a valuation of $12.8 billion by 2030, showcasing a remarkable Compound Annual Growth Rate (CAGR) of 40.9% during the forecast period.
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The growth of the green hydrogen market is driven by several key factors, including the rising demand for green hydrogen in fuel cell electric vehicles (FCEVs), the increasing utilization of green hydrogen in chemical production, and the growing initiatives by governments worldwide toward achieving net zero-emission targets. Despite challenges such as high production costs, the market is witnessing substantial growth due to increasing investments by industry players in electrolysis development and the adoption of green hydrogen for its zero-carbon footprint.
The green hydrogen market is segmented based on generation process, energy source, application, end user, and geography. Proton Exchange Membrane (PEM) electrolysis is expected to dominate the market in terms of generation process, driven by its high current density operation, environmental friendliness, and the growing focus on fuel cell technology. Hydropower is projected to lead the energy source segment due to the increasing demand for renewable energy sources in hydrogen production.
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In terms of applications, the feedstock segment holds a significant share due to the adoption of green hydrogen in chemical production and its zero-carbon footprint advantages. However, the fueling segment is expected to witness the highest growth rate, fueled by the increasing adoption of green hydrogen in fuel-cell electric vehicles (FCEVs) and government initiatives promoting clean and flexible energy solutions.
Geographically, North America currently leads the green hydrogen market, driven by increasing clean energy adoption and government investments in green hydrogen production. On the other hand, the Asia-Pacific region is expected to register the highest growth rate during the forecast period, supported by strategic alliances, investments in the clean hydrogen economy, and infrastructure development for green hydrogen storage.
Key players operating in the green hydrogen market include FuelCell Energy, Inc., Bloom Energy Corporation, Plug Power Inc., Air Products and Chemicals, Inc., China Petrochemical Corporation, L'AIR LIQUIDE S.A., Linde plc, Green Hydrogen Systems A/S, McPhy Energy, ITM Power PLC, Nel ASA, Ballard Power Systems Inc., ENGIE SA, Repsol S.A., and Iberdrola, S.A.
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About Us:
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa
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