A hydrogen gas created with the use of renewable or low-carbon energy is known as "green hydrogen." Compared to grey hydrogen, green hydrogen emits significantly less carbon dioxide. Natural gas is converted into it through steam reforming, and it dominates the market for hydrogen. Green hydrogen has a carbon footprint of less than 36.4 g CO2equ/MJLHV, while grey hydrogen has a carbon footprint more than the aforementioned value, according to the FCH JU (Fuel Cells and Hydrogen Joint Undertaking).
The title of a new research report released by Facts in its research department is "Green Hydrogen Market By Type (Solid Oxide Electrolyzer, Alkaline Electrolyzer, and Proton Exchange Membrane Electrolyzer), By Use (Transport, Power Generation, and Others), By Customer (Petrochemicals, Glass, Food Beverages, Chemical, Medical, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 20.
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Green Hydrogen Market: Segmentation Analysis
Green Hydrogen Market by Technology:
- Alkaline Electrolyzer
- Solid Oxide Electrolyzer
- Proton Exchange Membrane Electrolyzer
Alkaline Electrolyzer operates by transport of hydroxide ions i.e., negative ions through the electrolyte from the cathode to the anode with hydrogen i.e., positive ion being generated on the cathode side. Electrolyzers that use a liquid alkaline solution of sodium or potassium hydroxide as the electrolyte have been available for many years. New approaches that use solid alkaline exchange membranes (AEM) as the electrolyte are showing promise on the lab scale. While, the Solid oxide electrolyzers, uses a solid ceramic material as the electrolyte that selectively conducts negatively charged oxygen ions (O2-) at elevated temperatures and generate hydrogen in a slightly different way.
Green Hydrogen Market by Application:
- Power Generation
- Transport
Power Generation segment is expected to witness a significantly large revenue share during the forecast period because of the rising demand in green hydrogen. FCEVs are eco-friendlier, reliable, flexible to install and operate and requires less charging time and is expected to support the revenue growth of this segment.
Green Hydrogen Market: End User Industry Segment Analysis
- Food Beverages
- Medical
- Mobility
- Industrial
- Glass
- Grid Injection
- Petrochemicals
- Power
- Chemical
- Others
Food Beverages and Medicals are expected to drive revenue growth of the segment during the forecast period. The advantage of the end- use industry is that it increases the acceptability of grid-injections which is a low-value, low-investment shipping stone to support the early scaling of the green hydrogen market, to a significant extent.
Green Hydrogen Market by Renewable Source
- Wind
- Solar
- Others
The wind segment is anticipated to garner substantial returns over the forecast period due to a sharp decline in the price of wind energy.
Top key players:-
- Cummins Inc.
- Siemens Energy AG
- ITM Power
- Nel ASA
- Guangdong Nation-Synergy Hydrogen Power Technologies Co., Ltd
- Linde Plc
- Messer Group GMBH
- Air Products and Chemicals, Inc.
- Wind to Gas Energy GmbH Co. KG
- Toshiba Energy Systems Solutions Corporation
- HR Olwerke Schindler GmbH
- Air Liquide
- Plug Power Inc.
- Uniper
- GreenHydrogen
- Hydrogenex
- ERGOSUP
- Ballard Power Systems
- ENGIE Group
- Green Hydrogen Systems
- Nikola Corporation.
- Solena Group
- Enapter S.r.l.
- Loop Energy Inc.
- Tianjin Mainland Hydrogen Equipment Co. Ltd
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Frequently Asked Questions:-
- What are the factors influencing the growth of the green hydrogen market?
- Which is the fastest-growing region-level market for green hydrogen?
- What are the factors contributing to the final price of green hydrogen?
- What are the challenges in the green hydrogen market?
- Which energy based green hydrogen holds the largest market share?
- How is the green hydrogen market aligned?
- Who are the major manufacturers?
- What are the major end use industry for green hydrogen?
- What is the biggest restraint in the green hydrogen market?
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