Press release
Prominent Green Hydrogen Market Trend for 2025: Green Hydrogen Electrolyzer Gigafactories With Key Players Driving Sustainable Energy Solutions
Green Hydrogen
The projected expansion of the green hydrogen market is likely to be fueled by rising environmental apprehensions in the anticipated timeline. Green hydrogen, a hydrogen-centered fuel, is formulated by electrolyzing water with electricity sourced from low-carbon technologies. It contributes significantly to carbon emission reduction and promotes environmental care. For example, the International Energy Agency (IEA) has set the ambitious target of attaining net-zero energy-associated carbon dioxide emissions by 2050. Fossil fuels, which account for 80% of global energy, are among the key culprits of poor air quality. Furthermore, the IEA predicts that approximately 1.77 million and 4.97 million premature fatalities will result from indoor and outdoor air pollution respectively by 2050. As per data from the World Health Organization, between 4.2 to 7 million global air pollution-related deaths occur annually, with the alarming fact that air with a high pollutant concentration is breathed in by nine out of ten people. Hence, growing worries about environmental health are spearheading the development of the green hydrogen market.
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What is the future CAGR of the green hydrogen market, and how will it impact industry expansion?
The size of the green hydrogen market has seen rapid expansion in the past few years. The market is projected to increase from $2.46 billion in 2024 to $3.83 billion in 2025, with a compound annual growth rate (CAGR) of 55.4%. Factors such as the expansion of rising markets, a low-interest rate climate, the environmental effects of traditional power generation, and heightened demand from chemical industries contributed to the growth observed in the historical timeframe.
Significant expansion of the green hydrogen market size is anticipated in the coming years, with predictions showing a surge to $16.65 billion by 2029, boasting a compound annual growth rate (CAGR) of an impressive 44.4%. The forecasted growth can be credited to various factors, such as accelerated economic development, government-backed initiatives, burgeoning global population and urbanization, substantial investment in renewable energy generation, intent to diminish reliance on foreign oil, escalating demand from end-user sectors and worldwide cooperation in favor of environmental conservation. Key trends to watch out for, during this forecasted period, include the adoption of AI technology to boost operational productivity, provision of IoT-related consultancy services for enhanced operational efficiency, deployment of digital twin technological solutions to minimize potential risks, the introduction of smart meters for precise hydrogen gas flow measurement and concentration, increased financial inputs to strength the rising demand and emphasis on growth strategies and collaborative approaches for enlarging market footprint.
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What are the most significant trends transforming the green hydrogen market today?
Key players in the green hydrogen market are concentrating on developing Green Hydrogen Electrolyzer Gigafactories, contributing to the worldwide push for carbon neutrality and renewable energy systems. A Green Hydrogen Electrolyzer Gigafactory is a significant production entity devoted to the manufacture of electrolyzers, necessary tools for creating green hydrogen through electrolysis. As an example, Ohmium International inaugurated India's inaugural Green Hydrogen Electrolyzer Gigafactory in October 2023, as stated in a report. The gigafactory is designed to initially yield 500 MW of Proton Exchange Membrane (PEM) hydrogen electrolyzers per year, with an expansion plan up to 2 GW. This move is aimed at decreasing India's reliance on imported electrolyzers, thereby encouraging domestic green hydrogen production, a carbon-free fuel useful in diverse sectors like fertilizer and steel manufacturing. Ohmium's endeavor aligns with India's clean energy objectives, positioning it as a prospective global center for green hydrogen.
Which key market segments comprise the green hydrogen market and drive its revenue growth?
The green hydrogen market covered in this report is segmented -
1) By Technology: Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer
2) By Application: Power Generation, Transport, Other Applications
3) By End User Industry: Petrochemicals, Food And Beverages, Medical, Chemical, Glass, Other End-Use Industries
Subsegments:
1) By Alkaline Electrolyzer: Low-Pressure Alkaline Electrolyzers, High-Pressure Alkaline Electrolyzers
2) By Proton Exchange Membrane Electrolyzer (PEM): Standard PEM Electrolyzers, High-Temperature PEM Electrolyzers
3) By Solid Oxide Electrolyzer: Intermediate Temperature Solid Oxide Electrolyzers, High-Temperature Solid Oxide Electrolyzers
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What regions are at the forefront of green hydrogen market expansion?
Europe was the largest region in the green hydrogen market in 2024. The regions covered in the green hydrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the green hydrogen market?
Major companies operating in the green hydrogen market include Linde, Siemens Energy AG, Air Liquide, Toshiba Energy Systems & Solutions Corporation, Engie, Ballard Power Systems, Cummins Inc., Green Hydrogen Systems, Larsen & Toubro (L&T), Engie Renewables, ATCO Australia, ITOCHU Corporation, Sojitz Corp, Shell, ReNew Power, Sinopec, RES, Octopus, OMV AG, TotalEnergies, Ineos, Axpo, ABB, Enel Green Power, Saras Group, Macquarie Green Investment Group, Hidroelectrica, PKN Orlen SA, Grupa Azoty S.A, Mitsubishi Power, Entergy Corporation, Enapter, Nikola Motors, Plug Power, SGH2 Energy Global LLC, Siemens Gas and Power GmbH & Co. KG, Air Products Canada, Quadrogen Power Systems Inc, Casa dos Ventos, Enegix Energy, Matthes company, Dii Desert Energy, Bluenergy Revolution, Cheranna Energy, HDF Energy
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What Is Covered In The Green Hydrogen Global Market Report?
• Market Size Forecast: Examine the green hydrogen market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the green hydrogen market for a structured understanding.
• Key Players Overview: Analyze major players in the green hydrogen market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the green hydrogen market.
• Segment Contributions: Evaluate how different segments drive overall growth in the green hydrogen market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the green hydrogen market.
• Industry Challenges: Identify potential risks and obstacles affecting the green hydrogen market.
• Competitive Landscape: Review strategic developments in the green hydrogen market, including expansions, agreements, and new product launches.
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