green hydrogen market size is expected to reach USD 2,565.7 million in 2028 and register a revenue CAGR of 14.1% over the forecast period, according to the latest report by Emergen Research. Rising demand for green hydrogen in the transport industry and increasing concerns about carbon emission are some key factors driving market revenue growth.

Green hydrogen is a result of innovation in science and technology. Green hydrogen is produced by splitting water into hydrogen and oxygen through the use of an electrolyzer and electricity. Green hydrogen is mainly produced using natural resources, which makes it eco-friendlier and offers a sustainable substitute to fossil fuels for applications in various end-use industries.

Industries such as petrochemical, medical, and power among others are using green hydrogen in different ways, which is propelling global green hydrogen market revenue growth. Zero-emission manufacturing process and cost-competitiveness due to technological advancements are increasing applications of green hydrogen worldwide. Moreover, rising demand for Fuel Cell Electric Vehicles (FCEVs) is expanding continue to support revenue growth of the green hydrogen market. Green hydrogen is replacing conventional grey, brown, and blue hydrogen, and this trend is expected to drive market growth going ahead.

The all-encompassing report on the Green Hydrogen market projects the prospective growth of the industry. It gives and extensive analysis of the market size, share, demand, trends, gross revenue, total earnings to draw a forecast of the growth in the years 2021 to 2028. The study estimates the potential growth of the industry and the factors responsible for the expansion of the business. The study highlights the driving forces, restrains and hurdles for the growth of the market.

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It sheds light on the major companies that contribute significantly to the global sector. The report studies the presence of these companies in major geographical regions and their individual placement in the worldwide business. It helps in projecting the growth of Green Hydrogen through the years and in predicting its expansion in the forecasted time span. The increase in the demand for the product is boosting the overall production to ensure a smooth functioning demand-supply chain.

Top Companies Operating in the Green Hydrogen Market and Profiled in the Report are: AIR LIQUIDE, Engie, Siemens, Royal Dutch Shell PLC, Ballard Power Systems, Plug Power Inc., SGH2 Energy Global LLC, Cummins Inc., Linde, and Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd.

The study aims to provide a forecast of the growth of the Green Hydrogen market by examining the market size, share, demand, trends, and gross revenue of the industry. Further, it provides a competitive analysis and SWOT analysis.  The report segments the industry based on product type, application and end-use. It highlights the emerging trends as well as the novel technology that are visible in the market. The research offers a clear look at the trends observed in the market, the contributing factors, major stakeholders, key companies and prime areas that exhibit a potential for growth.

Key Highlights From the Report

In September 2021, Dubai announced that its green hydrogen project will enter “Expo 2020.” This innovative facility, which reaffirms United Arab Emirates’ (UAE) commitment to producing clean energy is a synergetic product among Dubai Electricity, Water Authority, and Siemens Energy. This step will drive the green mobility market in UAE, resulting in expansion of green hydrogen market in that country.

Alkaline electrolysis segment accounted for a significantly large revenue share in 2020 as this type has higher operating hours than Proton Exchange Membrane (PEM) electrolyzers. Alkaline electrolyzers utilize liquid alkaline solution of potassium or sodium hydroxide as main electrolytes. This is more economical, which thus makes it more affordable for many sectors, thereby leading to high demand in the industry.

Solar resources segment accounted for a significantly robust revenue share in 2020. Utilization of solar energy makes green hydrogen one of the most important Circular Carbon Economy (CCE) approaches to use natural resources. Moreover, steady decrease in prices of solar modules is further giving rise to its application worldwide and transforming the industry from hydrocarbon to solar electrification.

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Emergen Research has segmented global green hydrogen market on the basis of technology, renewable resources, application, end-use, and region:

Technology Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)

Alkaline Electrolysis

Proton Exchange Membrane (PEM) Electrolysis

Renewable Resources (Revenue, USD Million, Volume, Kilotons; 2018–2028)

Solar Resources

Water Resources

Wind Resources

Application Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)

Power generation

Transport

Others

End-use Outlook (Revenue, USD Million, Volume, Kilotons; 2018–2028)

Medical

Chemical

Petrochemicals

Grid injection

Others

The report on the Green Hydrogen market employs both primary and secondary research to examine its import and export, demand and supply, consumption power, spending capacity and distribution channel worldwide. The report evaluates the market standing of key manufacturers and sheds light on the strategies they have adopted to stay competitive. The study also applies qualitative and quantitative methods to assess the annual and financial performance of the top vendors and insights from market leaders. Extensive coverage of the recent trends and developments including joint ventures, collaborations, investments, product launches and acquisitions and mergers constitute a substantial part of the research on the Green Hydrogen market for the forecast period from 2021 to 2028.

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The research provides answers to the following key questions:

What will be the growth rate of the Green Hydrogen market for the forecast period, 2021 to 2028? What will be the market size and the share occupied by the prominent vendors by the estimated period?

What are challenges and threats faced by the prominent vendors operating in the Green Hydrogen market?

Who are the prominent vendors and what has been their business strategy so far to maintain a competitive edge over their competitors?

What are the past, present and emerging trends likely to influence the growth rate of the Green Hydrogen market for the forecast period, 2021 to 2028?

What are the opportunities prominent vendors can bank on to generate more profits during the estimated period?

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About Us:

At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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