Green Hydrogen Market Anticipated to Generate $9,834.3 Million and Grow at 54.7% CAGR in the 2021-2028

The global green hydrogen market is expected to witness significant growth by 2028 due to rising carbon emissions from transport & industrial sectors. The Asia-Pacific region is estimated to witness profitable growth by 2028.

According to the report published by Research Dive, the global green hydrogen market is projected to garner a revenue of $9,834.3 million and grow at 54.7% CAGR over the forecast period from 2021-2028.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/8502

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

𝐃𝐫𝐢𝐯𝐞𝐫𝐬: Rising carbon emissions from the transport and industrial sectors, coupled with the growing adoption of hydrogen as a clean fuel for power generation, are key drivers of the global green hydrogen market. Additionally, green hydrogen's long-term storage capacity and higher energy content than fossil fuels are expected to further propel market growth by 2028.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬: Increased investments in green hydrogen projects by governments and key industry players to curb carbon emissions are expected to provide significant growth opportunities for the global green hydrogen market during the forecast period.

𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬: High costs of production may hamper the growth of the market by 2028.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐨𝐧 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The COVID-19 pandemic significantly disrupted industries worldwide, including the green hydrogen market, which plays a crucial role in the transition to clean energy. The pandemic caused delays in the adoption and commercialization of green hydrogen, largely due to the financial challenges associated with clean energy projects. These projects, including those related to green hydrogen, require substantial capital investments, often driven by government support through policies, such as subsidies and tax incentives. However, the pandemic led to a sharp decline in investments in green hydrogen, delaying the commercial rollout of this clean energy source.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The report has divided the global green hydrogen market into segments based on type, application, end-use, and region.

Based on type, The alkaline electrolyzer sub-segment is expected to lead the market, generating $5,108.7 million by 2028. With over 70% efficiency and producing hydrogen of 99.99% purity, alkaline electrolysis is a widely adopted method for generating electrolytic hydrogen.

Based on application, the power generation sub-segment is projected to dominate the market, with revenues reaching $7,184.7 million by 2028. This growth is driven by using electrolyzers powered by renewable sources to split water into hydrogen and oxygen, positioning green hydrogen as a clean energy solution for achieving net-zero carbon emissions.

Based on end-use, the petrochemical sub-segment is expected to dominate the market by generating revenue of $4,053.3 million by 2028. Green hydrogen powers fuel cell vehicles, including electric trucks, producing electricity through the reaction of hydrogen and oxygen, resulting in zero tailpipe emissions and promoting carbon neutrality. While green hydrogen fueling stations are currently limited, rapid expansion is anticipated, boosting demand in the petrochemical sector.

Based on region, the Asia-Pacific green hydrogen market is projected to grow at a CAGR of 55.2%, reaching $2,023.9 million by 2028. This growth is fueled by strong investor interest, government backing, and technological feasibility, with Japan and Australia leading initiatives alongside support from China, South Korea, and India. For example, Japan's Iwatani Corporation and five other companies plan to establish a green liquefied hydrogen supply chain capable of producing 100 tonnes daily by 2026.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/8502

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

Some key green hydrogen market players include Royal Dutch Shell plc., Green Hydrogen Systems, Ballard Power Systems, SGH2 Energy Global, LLC, Air Liquide, Engie, Siemens Energy Global GmbH & Co. KG. AG, Plug Power, Inc., Next Hydrogen, Enapter, among others. These key players are adopting various strategies, such as product development, merger & acquisition, collaborations, and partnerships to stay competitive in the market.

The report also summarizes many important facets including the financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.

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𝐆𝐫𝐞𝐞𝐧 𝐌𝐢𝐧𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.researchdive.com/8756/green-mining-market

𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐑𝐞𝐜𝐲𝐜𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.researchdive.com/11/battery-recycling-market

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