Dublin, Sept. 06, 2021 (GLOBE NEWSWIRE) — The “Global Green Hydrogen Market by Technology (Alkaline and PEM), Renewable source (Wind, Solar), End-use Industry (Mobility, Power, Chemical, Industrial, Grid Injection) and Region (North America, Europe, APAC, MEA, & Latin America) – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The green hydrogen market is projected to grow from USD 444 million in 2021 to USD 4,373 million by 2026, at a CAGR of 58.0% during the forecasted period.
The market is driven by factors like the lowering cost of producing renewable energy by all sources, development of electrolysis technologies and high demand from FCEVs and power industry.
Green hydrogen is used in different industries such as mobility, chemical, power, grid injection, industrial, and others. Green hydrogen is on its way to replace conventional gray, brown, and blue hydrogen due to its zero-emission manufacturing process and is cost-competitive due to technological advancements. Green hydrogen offers a sustainable substitute to fossil fuels to the various end-use industries.
Alkaline electrolysis-based green hydrogen accounted for the largest share, in terms of volume, of the overall green hydrogen market
In terms of volume, the alkaline electrolysis-based green hydrogen segment accounted for the largest share of 70% of the overall green hydrogen market in 2020. Alkaline electrolysis technology is the most widely preferred technology in the production of green hydrogen across the world.
Alkaline electrolysis utilizes two electrodes lowered in a basic electrolyte solution (such as sodium or potassium hydroxide), isolated by a non-conductive permeable membrane known as a diaphragm. As compared to PEM electrolysis, alkaline electrolysis tends to produce highly pure green hydrogen as hydrogen ions do not diffuse easily into an electrolyte solution and therefore it is more highly used.
The green hydrogen market in the mobility industry is expected to register the highest CAGR between 2021 and 2026
Mobility is the largest end-use industry of green hydrogen. Green hydrogen used in the mobility industry includes vehicles used in road/off-road transportation, rail, maritime, or aviation. The mobility end-use industry accounted for the largest share by value of the green hydrogen market.
This is because hydrogen offers three times more energy per unit than fossil fuels. Before the commercialization of fuel-cell-based engines, the mobility industry had no other sustainable alternatives to fossil fuels. Fuel Cell Electric Vehicles (FCEV) offer a sustainable alternative. Green hydrogen is a viable and practical substitute for the automotive industry.
Green hydrogen-based vehicles are optimal for mining vehicles, trains, aircraft, lorries, buses, and even maritime transport. It is the best medium to achieve zero carbon footprint stipulated by advanced countries.
The green hydrogen market in Europe is projected to register the highest CAGR, in terms of value and volume, between 2021 and 2026
Europe dominated the global green hydrogen market. The region has the presence of many manufacturers of green hydrogen and their products. Germany accounted for a major share of the global green hydrogen market and is expected to register significant growth during the forecast period. The growth of the green hydrogen market in this region is mainly driven by the growing mobility and power industry.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Green Hydrogen Market Size by 2026, by Volume
4.2 Green Hydrogen Market Size, by Renewable Source and Region
4.3 Green Hydrogen Market Share, by Resin Type
4.4 Green Hydrogen Market, by End-Use Industry, 2021 Vs. 2026
4.5 Green Hydrogen Market Growth, by Country
5 Market Overview
5.2 Market Dynamics
18.104.22.168 Low variable electricity costs
22.214.171.124 Technological advancements
126.96.36.199 Global plans for net-zero emissions by 2050
188.8.131.52 High demand from FCEVs and power industry
184.108.40.206 Higher costs of green hydrogen
220.127.116.11 Lack of transportation infrastructure
18.104.22.168 Energy loss in value chain
22.214.171.124 Sustainability management
126.96.36.199 Decreasing costs of electrolyzers
188.8.131.52 Increasing government investments
184.108.40.206 Announcement of large capacity green hydrogen projects
220.127.116.11 Favorable policies for green hydrogen
18.104.22.168 High initial investments
22.214.171.124 Under-developed market
5.3 Porter’s Five forces Analysis
5.4 Technology Analysis
5.5 Ecosystem: Green Hydrogen Market
5.6 Supply Chain Analysis
5.7 Value Chain Analysis
5.8 Raw Material Selection
5.9 Impact of COVID-19
5.10 Green Hydrogen Market: Optimistic, Pessimistic, and Realistic Scenario
5.11 Pricing Analysis
5.12 Key Market for Import/Export
5.13 Green Hydrogen Global Projects
5.14 Case Study Analysis
5.15 Tariff and Regulations
5.16 Green Hydrogen Market: Trends and Disruptions Impacting Consumers
6 Green Hydrogen Market, by Technology
6.2 Alkaline Electrolysis
6.3 PEM Electrolysis
7 Green Hydrogen Market, by Renewable Source
7.4 Other Renewable Energy Sources
8 Green Hydrogen Market, by End-Use Industry
8.5 Grid Injection
9 Green Hydrogen Market, by Region
10 Competitive Landscape
11 Company Profiles
11.1 Key Companies
11.1.1 Air Liquide
11.1.2 Air Products and Chemicals, Inc.
11.1.4 Uniper SE
11.1.5 Siemens Energy Ag
11.1.7 Toshiba Energy Systems & Solutions Corporation
11.1.8 Nel ASA
11.1.9 Orsted AS
11.1.11 Cummins Inc.
11.1.12 H&R Olwerke Schindler GmbH
11.1.13 Wind To Gas Energy GmbH & Co. Kg
11.1.14 Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd.
11.2 Other Key Players
11.2.2 Enel Green Power S.P.A
11.2.3 Envision Digital
11.2.4 Hynamics (EDF)
11.2.5 ACWA Power
11.2.6 Green Hydrogen Systems
11.2.8 Enegix Renewable Energies Ltd.
11.2.9 Acme Solar Holdings Ltd
11.2.12 Xebec Adsorption, Inc.
11.2.13 AquaHydrex, Inc.
11.2.15 Starfire Energy
11.2.16 Hiringa Energy
11.2.17 Plug Power
11.2.19 ITM Power Plc
11.2.20 Beijing CEI Technology Co., Ltd.
11.2.21 Tianjin Mainland Hydrogen Equipment Company Ltd.
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