Green Hydrogen Market Is to Reach USD 125.65 Billion 2032, Growing at A Rate Of 39.6 % To Forecast 2024-2032
Green hydrogen is an environmentally friendly fuel produced by utilizing sustainable energy sources to separate water into hydrogen and oxygen. It is essential for reducing carbon emissions in sectors such as transportation and power generation as it does
(EMAILWIRE.COM, July 10, 2024 ) Pune, 9 July 2024: Green Hydrogen Market was valued at USD 6.24 billion in 2023 and is expected to reach USD 125.65 billion by 2032, with a CAGR of 39.6 %. Green hydrogen is produced by electrolysis with renewable energy sources like wind, solar, or hydroelectric power. The process of electrolysis divides hydrogen molecules and water molecules, producing a sustainable and environmentally friendly hydrogen fuel free of greenhouse gases and pollutants.
The PEM electrolyzer is crucial for the growth of the green hydrogen industry, thanks to its efficiency, scalability, and ability to work with renewable energy sources. Additionally, the PEM electrolyzer is small in size, can be easily arranged in modules, and is suitable for dispersing in different locations, making it easy to incorporate into a range of environments, including both small and large industrial operations. The PEM electrolyzer plays a crucial role in the growing demand for clean, sustainable hydrogen by supporting efficient and flexible production from renewable sources, thus driving the green hydrogen market and facilitating the transition to a low-carbon economy.
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Green Hydrogen's Key Competitors include:
Siemens Energy (Germany)
Nel ASA (Norway)
Plug Power Inc. (United States)
ITM Power PLC (United Kingdom)
McPhy Energy S.A. (France)
Ballard Power Systems (Canada)
Cummins Inc. (United States)
Linde plc (United Kingdom)
ENGIE SA (France)
Kawasaki Heavy Industries, Ltd. (Japan) and other major players.
Green Hydrogen Market Dynamics
Green Hydrogen's adaptability now goes beyond its original use in fuel cells for electric cars, now including the manufacturing of alternative fuels such as ammonia, methanol, and synthetic liquids. These energy carriers are becoming more important and are ready to support future growth in demand. In emerging economies, green hydrogen offers a route to a low-carbon future by providing a nearly carbon-free fuel option for marine transportation, hydrogen fuel cells in electric vehicles, and industrial backup power. The wide range of uses makes the green hydrogen industry a profitable opportunity with substantial room for expansion. The green hydrogen market for vehicle fuel cells is quickly changing, offering the same convenience as fossil fuels but without their emissions.
The rise in government funding for the green hydrogen market offers a major opportunity for industry expansion. Numerous developing nations, especially in Asia and the European Union, as well as certain American and Middle Eastern countries, are actively constructing infrastructure for green hydrogen. This advancement in infrastructure will allow manufacturers to increase their scope and capabilities, ultimately resulting in a decrease in the cost of green hydrogen. There is anticipated substantial growth in the global green hydrogen market in the upcoming years, fueled by the necessity to decarbonize energy systems and decrease greenhouse gas emissions. The IMEC involves a hydrogen pipeline to make exporting to the EU easier, as stated in a memorandum signed by the US, India, Saudi Arabia, UAE, France, Germany, and Italy.
Green Hydrogen Market Regional Insights
North America is expected to dominate the green hydrogen market in the coming years, driven by the adoption of electric vehicles with hydrogen fuel cells. These vehicles are more efficient and can travel longer distances using less energy, with one kg of hydrogen-containing about the same energy as a gallon of gasoline. The US Department of Energy (DOE) is working to increase the fuel efficiency of green hydrogen engines to nearly 100 miles on 1 kg of hydrogen. The DOE is also working on a project called Hydrogen Shot, aiming to reduce the cost of clean hydrogen to $1/kg within one decade, making hydrogen more accessible and affordable. Green hydrogen has the potential to work efficiently without carbon emissions, helping to reduce global warming and air pollution.
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Green Hydrogen Market Segment Analysis
By Technology:
PEM
Alkaline Electrolyzer
Solid Oxide Electrolyzer
The Alkaline Electrolyzer segment is expected to dominate the market during the forecast period. The Green Hydrogen market is mainly driven by the growth of the Alkaline Electrolyzer segment. The production of electrolytic hydrogen is commonly done using alkaline electrolysis, which is a well-established and widely used technology. This industrial process dates back to the early 20th century when the idea of commercial power first started to emerge. The majority of hydrogen generated by electrolysis comes from the use of alkaline electrolyzers. The liquid alkaline electrolyzer utilizes potassium or sodium hydroxide solution as its electrolyte and has a longer operational lifespan than PEM electrolyzers. Additionally, alkaline electrolyzers are projected to experience an increase in demand due to their high availability at a lower cost in comparison to PEM electrolyzers.
By technology:
Green Hydrogen-based Foods & Beverages
Green Hydrogen Oil
Pharmaceutical
Cosmetics
By Application:
Power Generation
Transport
GLOBAL GREEN HYDROGEN MARKET BY REGION
NORTH AMERICA
USA
Canada
Mexico
EASTERN EUROPE
Russia
Bulgaria
The Czech Republic
Hungary
Poland
Romania
Rest of Eastern Europe
WESTERN EUROPE
Germany
United Kingdom
France
The Netherlands
Italy
Spain
Rest of Western Europe
ASIA PACIFIC
China
India
Japan
South Korea
Malaysia
Thailand
Vietnam
The Philippines
Australia
New-Zealand
Rest Of APAC
MIDDLE EAST & AFRICA
Turkey
Bahrain
Kuwait
Saudi Arabia
Qatar
UAE
Israel
South Africa
SOUTH AMERICA
Brazil
Argentina
Rest of South America
Get Access to Sample Pages
https://introspectivemarketresearch.com/request/16336
Key questions answered in the Green Hydrogen Market report are:
Which market segment dominated the Green Hydrogen market in 2023?
What are the current trends in the Green Hydrogen market?
What future industry applications and trends are emerging in the Canadian frozen Bakery market?
What growth strategies are companies adopting to expand their presence in the Green Hydrogen market?
Who are the leading companies in the Canadian frozen Bakery market, and what are their product portfolios?
What are the primary challenges that the Green Hydrogen market may face in the future?
Which region had the largest share of the Green Hydrogen market in 2023?
How is the regulatory environment influencing the Green Hydrogen market?
Key Offerings:
Market Size, Share, Size & Forecast by Different Segments | 2024−2032
Green Hydrogen Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Trend Analysis
Pestle Analysis
Porter’s Five Forces Analysis
Industry Value Chain Analysis
Ecosystem
Regulatory Landscape
Price Trend Analysis
Patent Analysis
Technology Evolution
Investment Pockets
Green Hydrogen Market Segmentation
Competitive Landscape – Profiles of selected key players in a strategic perspective
Competitive landscape – Competitive Benchmarking, Green Hydrogen Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions
Analyst Viewpoint and Conclusion
Introspective Market Research, a prominent Energy and Natural Resources research firm, has released the following reports:
Hydrogen Market: Global Hydrogen Market Size Was Valued at USD 242.7 Billion in 2023 and is Projected to Reach USD 481.13 Billion by 2032, Growing at a CAGR of 7.9 % From 2024-2032.
Green Power Market: Green Power Market Size Was Valued at USD 48.01 Billion in 2023, and is Projected to Reach USD 150.07 Billion by 2032, Growing at a CAGR of 13.50% From 2024-2032.
About us:
Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
Contact us:
Introspective Market Research
3001 S King Drive,
Chicago, Illinois
60616 USA
Ph no: +1-773-382-1049
Email: -sales@introspectivemarketresearch.com
The PEM electrolyzer is crucial for the growth of the green hydrogen industry, thanks to its efficiency, scalability, and ability to work with renewable energy sources. Additionally, the PEM electrolyzer is small in size, can be easily arranged in modules, and is suitable for dispersing in different locations, making it easy to incorporate into a range of environments, including both small and large industrial operations. The PEM electrolyzer plays a crucial role in the growing demand for clean, sustainable hydrogen by supporting efficient and flexible production from renewable sources, thus driving the green hydrogen market and facilitating the transition to a low-carbon economy.
Get a Free Sample PDF Brochure:
https://introspectivemarketresearch.com/request/16336
Green Hydrogen's Key Competitors include:
Siemens Energy (Germany)
Nel ASA (Norway)
Plug Power Inc. (United States)
ITM Power PLC (United Kingdom)
McPhy Energy S.A. (France)
Ballard Power Systems (Canada)
Cummins Inc. (United States)
Linde plc (United Kingdom)
ENGIE SA (France)
Kawasaki Heavy Industries, Ltd. (Japan) and other major players.
Green Hydrogen Market Dynamics
Green Hydrogen's adaptability now goes beyond its original use in fuel cells for electric cars, now including the manufacturing of alternative fuels such as ammonia, methanol, and synthetic liquids. These energy carriers are becoming more important and are ready to support future growth in demand. In emerging economies, green hydrogen offers a route to a low-carbon future by providing a nearly carbon-free fuel option for marine transportation, hydrogen fuel cells in electric vehicles, and industrial backup power. The wide range of uses makes the green hydrogen industry a profitable opportunity with substantial room for expansion. The green hydrogen market for vehicle fuel cells is quickly changing, offering the same convenience as fossil fuels but without their emissions.
The rise in government funding for the green hydrogen market offers a major opportunity for industry expansion. Numerous developing nations, especially in Asia and the European Union, as well as certain American and Middle Eastern countries, are actively constructing infrastructure for green hydrogen. This advancement in infrastructure will allow manufacturers to increase their scope and capabilities, ultimately resulting in a decrease in the cost of green hydrogen. There is anticipated substantial growth in the global green hydrogen market in the upcoming years, fueled by the necessity to decarbonize energy systems and decrease greenhouse gas emissions. The IMEC involves a hydrogen pipeline to make exporting to the EU easier, as stated in a memorandum signed by the US, India, Saudi Arabia, UAE, France, Germany, and Italy.
Green Hydrogen Market Regional Insights
North America is expected to dominate the green hydrogen market in the coming years, driven by the adoption of electric vehicles with hydrogen fuel cells. These vehicles are more efficient and can travel longer distances using less energy, with one kg of hydrogen-containing about the same energy as a gallon of gasoline. The US Department of Energy (DOE) is working to increase the fuel efficiency of green hydrogen engines to nearly 100 miles on 1 kg of hydrogen. The DOE is also working on a project called Hydrogen Shot, aiming to reduce the cost of clean hydrogen to $1/kg within one decade, making hydrogen more accessible and affordable. Green hydrogen has the potential to work efficiently without carbon emissions, helping to reduce global warming and air pollution.
To learn more about this report request a sample copy @
https://introspectivemarketresearch.com/request/16336
Green Hydrogen Market Segment Analysis
By Technology:
PEM
Alkaline Electrolyzer
Solid Oxide Electrolyzer
The Alkaline Electrolyzer segment is expected to dominate the market during the forecast period. The Green Hydrogen market is mainly driven by the growth of the Alkaline Electrolyzer segment. The production of electrolytic hydrogen is commonly done using alkaline electrolysis, which is a well-established and widely used technology. This industrial process dates back to the early 20th century when the idea of commercial power first started to emerge. The majority of hydrogen generated by electrolysis comes from the use of alkaline electrolyzers. The liquid alkaline electrolyzer utilizes potassium or sodium hydroxide solution as its electrolyte and has a longer operational lifespan than PEM electrolyzers. Additionally, alkaline electrolyzers are projected to experience an increase in demand due to their high availability at a lower cost in comparison to PEM electrolyzers.
By technology:
Green Hydrogen-based Foods & Beverages
Green Hydrogen Oil
Pharmaceutical
Cosmetics
By Application:
Power Generation
Transport
GLOBAL GREEN HYDROGEN MARKET BY REGION
NORTH AMERICA
USA
Canada
Mexico
EASTERN EUROPE
Russia
Bulgaria
The Czech Republic
Hungary
Poland
Romania
Rest of Eastern Europe
WESTERN EUROPE
Germany
United Kingdom
France
The Netherlands
Italy
Spain
Rest of Western Europe
ASIA PACIFIC
China
India
Japan
South Korea
Malaysia
Thailand
Vietnam
The Philippines
Australia
New-Zealand
Rest Of APAC
MIDDLE EAST & AFRICA
Turkey
Bahrain
Kuwait
Saudi Arabia
Qatar
UAE
Israel
South Africa
SOUTH AMERICA
Brazil
Argentina
Rest of South America
Get Access to Sample Pages
https://introspectivemarketresearch.com/request/16336
Key questions answered in the Green Hydrogen Market report are:
Which market segment dominated the Green Hydrogen market in 2023?
What are the current trends in the Green Hydrogen market?
What future industry applications and trends are emerging in the Canadian frozen Bakery market?
What growth strategies are companies adopting to expand their presence in the Green Hydrogen market?
Who are the leading companies in the Canadian frozen Bakery market, and what are their product portfolios?
What are the primary challenges that the Green Hydrogen market may face in the future?
Which region had the largest share of the Green Hydrogen market in 2023?
How is the regulatory environment influencing the Green Hydrogen market?
Key Offerings:
Market Size, Share, Size & Forecast by Different Segments | 2024−2032
Green Hydrogen Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Trend Analysis
Pestle Analysis
Porter’s Five Forces Analysis
Industry Value Chain Analysis
Ecosystem
Regulatory Landscape
Price Trend Analysis
Patent Analysis
Technology Evolution
Investment Pockets
Green Hydrogen Market Segmentation
Competitive Landscape – Profiles of selected key players in a strategic perspective
Competitive landscape – Competitive Benchmarking, Green Hydrogen Market Share by Manufacturer (2023), Industry BCG Matrix, Heat Map Analysis, Mergers & Acquisitions
Analyst Viewpoint and Conclusion
Introspective Market Research, a prominent Energy and Natural Resources research firm, has released the following reports:
Hydrogen Market: Global Hydrogen Market Size Was Valued at USD 242.7 Billion in 2023 and is Projected to Reach USD 481.13 Billion by 2032, Growing at a CAGR of 7.9 % From 2024-2032.
Green Power Market: Green Power Market Size Was Valued at USD 48.01 Billion in 2023, and is Projected to Reach USD 150.07 Billion by 2032, Growing at a CAGR of 13.50% From 2024-2032.
About us:
Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
Contact us:
Introspective Market Research
3001 S King Drive,
Chicago, Illinois
60616 USA
Ph no: +1-773-382-1049
Email: -sales@introspectivemarketresearch.com
Contact Information:
Introspective Market Research Pvt Ltd
Akshay Patil
Tel: +91-8180096367
Email us
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Introspective Market Research Pvt Ltd
Akshay Patil
Tel: +91-8180096367
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results