Green Hydrogen Global Market To Grow At Rate Of Almost 40% Through 2025

15 Nov, 2021

The green hydrogen market consists of sales of hydrogen-based fuel by entities (organizations, sole traders, and partnerships) that are produced from electrolyzing water by using electricity. Green hydrogen gas is created by dividing water into hydrogen and oxygen using an electrolyzer that can be powered by renewable energy sources. Green hydrogen is environmentally friendly and can be stored and converted back to energy or heat when required.

Global Green Hydrogen Market Size And Drivers:

The global green hydrogen market is expected to grow from $0.58 billion in 2020 to $0.78 billion in 2021 at a compound annual growth rate (CAGR) of 33.8%. The growth of the green hydrogen market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The green hydrogen market is expected to reach $2.94 billion in 2025 at a CAGR of 39.4%. The increasing environmental concerns are expected to propel the growth of the green hydrogen market in the forecast period.

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Trends In The Global Green Hydrogen Market

Scaling up of technologies is an emerging trend in the green hydrogen market. Advanced analytics is used in the green hydrogen market, it can transform data into business intelligence with actionable insights. Analytics can provide corrective action recommendations to maximize yields for green hydrogen, churning, and learning through data from plants, tanks, and pipes. By forecasting the failures, energy losses can also be prevented. Kaiserwetter is one such company that is using analytics to address several green hydrogen challenges. Analytics can also be useful in providing blockchain solutions that can help in green hydrogen tracking. For instance, in February 2021, Acciona, a Spanish firm that develops and manages infrastructure and renewable energy, has developed GreenH2chain, a blockchain-based platform that allows clients from all over the world to verify and visualize the complete green hydrogen value chain in real-time.

Global Green Hydrogen Market Segments:
The global green hydrogen market is further segmented –
By Technology: Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer
By Application: Power Generation, Transport, Others
By End-Use Industry: Petrochemicals, Food And Beverages, Medical, Chemical, Glass, Others
By Geography: The global green hydrogen market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Green Hydrogen Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides green hydrogen market overviews, analyzes and forecasts market size and growth for the global green hydrogen market, green hydrogen market share, green hydrogen market players, green hydrogen market segments and geographies, green hydrogen market’s leading competitors’ revenues, profiles and market shares. The green hydrogen market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.