Major players in the green hydrogen market are 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.
New York, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Green Hydrogen Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06187353/?utm_source=GNW
, 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.
The main types of technologies in green hydrogen are alkaline electrolyzer, proton exchange membrane electrolyzer, and solid oxide electrolyzer.Alkaline electrolyzers work by transporting hydroxide ions from the cathode to the anode through the electrolyte, with hydrogen created on the cathode side.
It is used in power generation, transport, others and implemented in various verticals such as petrochemicals, food and beverages, medical, chemical, glass, others.
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 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 market is expected to reach $2.94 billion in 2025 at a CAGR of 39.4%.
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.
Europe was the largest region in the green hydrogen market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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.
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.
In July 2021, PowerTap Hydrogen Capital Corp., Canada-based hydrogen production and the dispensing fuelling company acquired a 49% stake in AES-100 Inc. for an undisclosed amount. The acquisition is expected to assure the rapid global deployment of PowerTap’s hydrogen refueling stations. AES-100 Inc. is a Canada-based green hydrogen technology company that is focused on fuel cells for the transportation Industry.
The countries covered in the green hydrogen market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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