Global Green Hydrogen Market Report 2021 – Market Forecast, Trends And Strategies

4 Feb, 2022

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%.

What is the Global Green Hydrogen Market?

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.

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What drives the Global Green Hydrogen Market?

The increasing environmental concerns are expected to propel the growth of the green hydrogen market in the forecast period. Green hydrogen is a hydrogen-based fuel that is made by electrolyzing water with electricity supplied from low-carbon sources. It will help in reducing carbon emissions and provide care to our planet. For instance, International Energy Agency (IEA) aims to bring global energy-related carbon dioxide emissions to net-zero by 2050. Fossil fuels are one of the main contributors to poor air quality and they account for 80% of all the energy worldwide. Additionally, IEA estimates that by 2050 around 1.77 million premature deaths will occur due to indoor air pollution, and around 4.97 million premature deaths will occur due to outdoor air pollution. According to World Health Organization, an estimated 4.2 to 7 million people die from air pollution worldwide every year, and nine out of ten people breathe air that contains high levels of pollutants. Therefore, increasing environmental concerns drive the growth of the green hydrogen market.

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Global Green Hydrogen Market Segments
The global green hydrogen market is 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 regions covered in the green hydrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Europe accounts for the largest share in the global green hydrogen market.

Green Hydrogen Global Market Reportprovides market size and growth forecasts for the global green hydrogen market, global green hydrogen market share, green hydrogen market segments and geographies, green hydrogen market competitive landscape including 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.

Global Green Hydrogen Industry Playersinclude Air Liquide, Air Products and Chemicals Inc., Ballard Power Systems, Engie, Fuel Cells Works, Green Hydrogen Systems, Hydrogenics, Linde Plc, Nel Hydrogen, Nikola Motors, Plug Power Inc., Siemens Energy Global GmbH & Co. KG, Solena Group, Toshiba Energy Systems & Solutions Corporation, Enapter, ERGOSUP, Loop Energy Inc., and Tianjin Mainland Hydrogen Equipment Co. Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.