Green Hydrogen Generator Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Green Hydrogen Generator Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Green Hydrogen Generator Market

The Green Hydrogen Generator market size was valued at USD 200.9 million in 2023, and the market is now projected to grow from USD 222.4 million in 2024 to USD 325.1 million by 2032, exhibiting a CAGR of 5.6% during the forecast period of 2024-2032.

The mishaps and shortcomings caused by the pandemic ruined the global market and the wellbeing crisis and influenced various industries and businesses. The widespread may have put off a few mechanical ventures driving to a major disturbance within the supply chains. Majorly, the green hydrogen generator market growth has been largely affected by this havoc in the phase of COVID-19. In any case, the burgeoning demand for the renewable energy sources is expected to draw in noteworthy investments that will bode up well for the market within the projected timeframe.

Green hydrogen is broadly being utilized within the transportation division due to its a few natural benefits, such as dispensing with discuss contamination in urban ranges and lessening in general carbon dioxide emanations to the environment. As of now, the transport segment contributes nearly 25% of nursery gas emanations and urban air pollution. Green hydrogen could be a promising arrangement towards an energy-efficient and decarbonized framework, because it can be utilized for the substitution of fossil powers in portability segments.

A few nations such as Germany, France, and the U.K. have started contributing to green hydrogen generation and its capacity advances. For occurrence, in June 2020, Germany embraced the national technique, “German Hydrogen Procedure for Worldwide Authority within the Vitality Transition.” This approach will offer assistance the hydrogen to be utilized as a multipurpose vitality carrier and serve as a premise for the generation of engineered fills. This calculate is likely to drive the worldwide green hydrogen generator market development amid the estimate period.

Comprehensive Analysis of Green Hydrogen Generator Market

The market on the differentiation of type analysis is segmented as solid oxide electrolysis, PEM electrolysis and traditional alkaline electrolysis. Traditional electrolysis segment happens to hold the majority of stake. As per the partition of application, the market for green hydrogen generator further is fragmented into steel plants, power plants, electronics and photovoltaics and industrial gases. The power plant application was termed the most characterizing and useful.

Europe stood the most remarkable region at USD 73.72 million in 2020 with majority of stake in the green hydrogen generator market share globally. Germany accounts for the biggest market share within the region because it could be a center for seaward wind, sun-oriented control, electric vehicle, and consumer gadgets. Adding up, the green hydrogen is majorly utilized in these businesses as a fuel that's merely alike to favor market development within the region. Germany is ceaselessly contributing to green hydrogen ventures to cater to the expanding request for clean and maintainable vitality within the future.

The market comprises of little and expansive players with a point to provide scale items for various applications to shape the competitive scene. A few of the major players are utilizing their assets in mechanical headway and collaborations with a few of the neighborhood deals accomplices. Hydrogenics (U.S.), Nel (Proton On-Site) (Norway), Kobelco Eco-Solutions (Japan), ITM Power (U.K.), Teledyne Energy Systems (U.S.), McPhy (France), Areva H2gen (France), Shandong Saikesaisi Hydrogen Energy Co., Ltd. (China), Idroenergy Spa (Italy), Kobelco Eco-Solutions (Japan), Suzhou Jingli (China), Asahi Kasei (Japan), Siemens AG (Germany) and many more.

In between the month of December 2020, the company Green Hydrogen Frameworks have gotten speculations for a add up to of approx. EUR 28 million from A.P. Møller Holding A/S to govern and power it to meet ends with the quickening demand for capacity of eletrolyzer.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2017-2028

Base Year

2020

Forecast Period

2021-2028

Historical Period

2017-2019

Unit

Value (USD Million) and Volume (MW)

Segmentation

By Type; Application; and Region

By Type

Alkaline Water Electrolysis

PEM Electrolysis

Solid Oxide Electrolysis

By Application

Power Plants

Steel Plant

Electronics and Photovoltaics

Industrial Gases

Others

By Region

North America

• By Type
• By Application

The U.S.

Canada

Europe
• By Type
• By Application

The UK

Germany

France

Italy

Russia

Rest of Europe

Asia Pacific
• By Type
• By Application

China

India

Japan

South Korea

Australia

Southeast Asia

Rest of Asia Pacific

The Middle East & Africa
• By Type
• By Application

Suadi Arabia

Turkey

UAE

Rest of the Middle East & Africa

Latin America
• By Type
• By Application

Brazil

Mexico

Argentina

Colombia

Rest of Latin AmericaPlease Note: It will take 5-6 business days to complete the report upon order confirmation.