Green Hydrogen Market: Insights
The global green hydrogen market is estimated to witness a significant CAGR during the forecast period (2020-2026). Green hydrogen is produced by the electrolysis of water for which electricity is required, and is provided by green energy sources, such as wind or solar. Organizations are investing in the establishment of new green hydrogen production plants that will help in reducing GHG emissions. Furthermore, many countries, such as Germany, Japan, and the United States, are aiming to adopt hydrogen as a transport fuel over traditional fossil fuels. However, safety concerns of hydrogen and high capital cost of the electrolyzer unit are likely to hamper the market growth over the coming years.
Green Hydrogen Market Size: By Technology
Based on technology, the global green hydrogen market is segmented into an alkaline electrolyzer, and polymer electrolyte membrane (PEM) electrolyzer. The alkaline electrolyzer segment is expected to hold the largest market share in terms of revenue during the forecast period. The alkaline electrolyzer utilizes the liquid alkaline solution of potassium or sodium hydroxide as the electrolyte and has a higher operating period than the PEM electrolyzer. Moreover, alkaline electrolyzers are cheaper than the PEM electrolyzer. Furthermore, the polymer electrolyte membrane (PEM) electrolyzer segment is expected to grow at a high CAGR during the forecast period due to low gas permeability and thickness of proton exchange membranes along with high proton conductivity of these electrolyzers is driving the market growth.
Green Hydrogen Market Size: By Region
Based on region, the global green hydrogen market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North America region is expected to hold the largest market share in terms of revenue during the forecast period. Furthermore, Asia-Pacific region is expected to grow at a high CAGR over the coming years.
Green hydrogen Market: Share & Competitor Analysis
Some of the key players operating in the green hydrogen market include: Engie, Uniper SE, Siemens, Hydrogenics, Linde, Air Liquide, Air Products and Chemicals, Inc., Nel ASA, SGH2 Energy Global LLC, Toshiba Energy Systems & Solutions Corporation, FuelCellsWorks, and Green Hydrogen, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
Green Hydrogen Market: By Technology
Green Hydrogen Market: By Region
The global Green Hydrogen Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Green Hydrogen Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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