Exploring the Green Hydrogen Market with Growth Perspectives

Global Green Hydrogen Market Overview:

According to MarkNtel Advisors study the Global Green Hydrogen Market is estimated to grow at a CAGR of around 51.23 % during the forecast period, i.e., 2024-30. The demand for Green Hydrogen witnessed a notable rise globally during the past years due to increasing awareness of environmental sustainability, stringent regulations promoting eco-friendly practices, and a growing preference for renewable bio-based materials.

Key Findings of the Study: Military Cybersecurit market

Global Green Hydrogen Market Opportunity:

Automotive to Become a Lucrative Potential Area – In the long term, the automotive sector has an enormous opportunity for implementing green hydrogen as an alternative to phase out the usage of fossil fuels, and can also become an alternative to lithium-ion battery-based systems for mobility applications. The advent of electric vehicle (EVs) demands huge investment in building charging infrastructure plus challenges about its range.

If the costs related to green hydrogen are reduced, the automakers, including trucks, heavy vehicles, forklifts, cars, etc., could utilize green hydrogen for powering vehicles with zero carbon emissions and generate electricity on the go. In addition, top green hydrogen companies, like General Motors (GM), Hyundai, Honda, and Toyota, among several others, have shown keen interest in integrating green hydrogen in Electric Vehicles (EV) and Hydrogen-based Fuel Cell Electric Vehicles (FCEVs).

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Scope of the Green Hydrogen Market Report Segmentation

-By Technology

Proton Exchange Membrane Electrolyzer– Market Size Forecast 2024-2030F (Thousand Tons)
Alkaline Electrolyzer– Market Size Forecast 2024-2030F (Thousand Tons)
Solid Oxide Electrolyzer– Market Size Forecast 2024-2030F (Thousand Tons)
Others– Market Size Forecast 2024-2030F (Thousand Tons)

-By Energy Source

Solar– Market Size Forecast 2024-2030F (Thousand Tons)
Wind– Market Size Forecast 2024-2030F (Thousand Tons)
Other Renewable Sources– Market Size Forecast 2024-2030F (Thousand Tons)

-By End Users

Power Generation Energy Storage– Market Size Forecast 2024-2030F (Thousand Tons)
Automotive Transportation– Market Size Forecast 2024-2030F (Thousand Tons)
Industrial Feedstock

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Geographical analysis:

-By Region

North America
South America
Europe
The Middle East Africa
Asia-Pacific

North America accounted for a maximum revenue share in the Global Green Hydrogen Market in 2023 and would continue to dominate the market in the forecast years as well. North America is one of the regions globally, which is betting on green hydrogen as a viable source of energy, in the future and is already adopting and investing in its RD, actively. The region has an enormous capacity to generate renewable power through solar, wind, etc.

Global Green Hydrogen Industry Recent Development:

2023: Air Liquide and Siemens Energy, announced the inauguration of their joint venture gigawatt electrolyzer factory today in Berlin. The mass production of electrolyzer components will allow the manufacturing of low-carbon hydrogen at industrial scale competitive cost, and foster an innovative European ecosystem.
2023: TotalEnergies and Air Liquide, have signed an agreement for the long-term supply of green and low carbon hydrogen to the TotalEnergies refining and petrochemical platform in Normandy. The project will contribute to the decarbonization of the Gonfrevillle site, reducing its CO2 emissions by up to 150,000 tons a year.

Current Landscape of Green Hydrogen Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Green Hydrogen market. The research report profiles major players, including

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Cummins
MHI
Stiesdal A/S
Siemens
Thyssenkrupp
Other Potential Players

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Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 14.8 diverse industrial verticals.

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