Global Green Hydrogen Market to Reach $4,455.8 Million by 2031
The Green Hydrogen Market is projected to reach $4,455.8 million by 2031, reveals the premium market intelligence study by CRI Report. The study also highlights that the market is set to witness a CAGR of 5.13% during the period, 2021-2031.
Green hydrogen is a hydrogen-produced fuel obtained from the electrolysis of water with electricity generated by low-carbon power sources. It is an energy carrier that can be used in different applications, such as oil and gas, petrochemicals, electric vehicles, and power generation. However, its actual use is still very limited. Green hydrogen is mainly used for crude oil refining and the synthesis of ammonia and methanol, which account for nearly 75 percent of the total demand for pure hydrogen and mixed hydrogen.
USP of the Report
• A dedicated section focusing on the futuristic trends adopted by the key players operating in the global green hydrogen market
• Extensive competitive benchmarking of top 15 players (including producers and component providers) offering a holistic view of the global green hydrogen landscape
• Qualitative and quantitative analysis of green hydrogen industry at region level granularity based on application and technology segments
Analyst’s take on the market
According to this report, “The global green hydrogen market is driven by the rapid evolution, and there has been an increase in the growth of the research and development activities by many important players in this market. In addition, in order to expand their overall global footprint, green hydrogen producers are launching new technology and expanding their businesses to target a great audience during 2021-2031.”
Key companies operating in the market
Players analyzed and profiled in the study involve green hydrogen producers and component providers that capture a maximum share in the oil & gas and petrochemical market. Moreover, a detailed competitive benchmarking of the players operating in the global green hydrogen market has been done that will help the reader to understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations would aid the reader in understanding the untapped revenue pockets in the market.
Some of the key players operating in the market include Linde, Air Liquide, Air Products Inc., ENGIE, Uniper SE, Siemens Energy, Green Hydrogen, Cummins Inc., Toshiba Energy Systems & Solutions Corporation, Nel ASA, SGH2 Energy Global, LLC, PLUG POWER INC., Loop Energy Inc., Ergosup, Ballard Power Systems
Market Segmentation of Green Hydrogen Market
Application: The green hydrogen market has been segmented based on application, including oil & gas, petrochemical, electric vehicle, power generation, and others. The major end users of green hydrogen in the oil and gas industry include different refining processes such as hydrocracking, hydroisomerization, hydrodealkylation, and hydrodesulphurization. The essential driver behind the adoption of green hydrogen in the oil & gas industry is reducing sulfur dioxide emissions and removing sulfur to prevent catalyst poisoning.
Region: The regions discussed in this report include North America, Europe, Asia-Pacific, China, the U.K., and Rest-of-the-World. Europe is expected to account for the highest growth in the global green hydrogen market during the forecast period. The increasing demand for zero-emission energy in various end-user industries, such as oil & gas, petrochemical, electric vehicle, power generation, has led to a wide acceptance of green hydrogen, over time.
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Key Questions Answered in the Report
• What are the key drivers and challenges in the global green hydrogen market?
• How does the supply chain function in the global green hydrogen market?
• Which technology is expected to witness the maximum demand growth in the global green hydrogen market during the period 2021-2031?
• Which are the key application areas for which green hydrogen may experience high demand during the forecast period 2021-2031?
• Which are the key suppliers of green hydrogen in different countries and regions?
• How is the industry expected to evolve during the forecast period 2021-2031?
• What are the key offerings of the prominent manufacturers in the global green hydrogen market?
• Which regions and countries are leading in terms of consumption of green hydrogen, and which of them are expected to witness high demand growth from 2021 to 2031?
• What are the key consumer attributes in various countries in the global green hydrogen market?
• Which are the major patents filed in the green hydrogen space?
• What are the key developmental strategies implemented by the key players to sustain the competitive market?
• What is the competitive strength of the key players in the green hydrogen market based on their recent developments, product offerings, and regional presence?
• Who are the key players (along with their detailed analysis and profiles, including their company snapshots, key products and services, and strength and weakness analysis) in the market?