Global Green Hydrogen Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Green Hydrogen Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Green hydrogen is created by using renewable energy sources rather than fossil fuels. There are many different colors that can be used to describe a colorless burning chemical. This can be a good and stable replacement for essential sources such as natural gas, coal, and oil in a wide range of applications. Green hydrogen is created when water is hydrolyzed with the help of electricity. These are derived from renewable energy sources such as wind and Steel Plant. The electrolysis, steam reforming, and fermentation are all typical methods for producing green hydrogen. This report studies green hydrogen production from electrolyzers.

An electrolyzer is a unit in which electricity can be used to convert water into hydrogen and oxygen, which can then be used to store energy for later use. The electrolyzer consists of an anode and a cathode separated by an electrolyte. The functions of different electrolyzers are slightly different, mainly due to the different types of electrolyte materials used. Electrolyzers have a wide range of sizes, from small equipment sizes that are very suitable for small-scale distributed hydrogen production to large-scale centralized production equipment that can be directly related to renewable energy or other forms of non-greenhouse gas emissions, and electricity production.

Market Overview:

The latest research study on the global Green Hydrogen market finds that the global Green Hydrogen market reached a value of USD 1320.19 million in 2022. It’s expected that the market will achieve USD 16091.56 million by 2028, exhibiting a CAGR of 51.7% during the forecast period.

Green Hydrogen Growth Drivers

As environmental protection policies become more stringent, some industries with high carbon dioxide emissions, such as traditional steel plants and thermal power plants, have been affected. Hydrogen is a kind of clean energy and can be used in place of traditional coal in these plants. Due to the clean and environmentally friendly process of hydrogen production by electrolyzer, more and more industries pay attention to electrolyzer. Many industries have begun to use electrolyzers to update their new plants while eliminating old production lines. These increasing demands have also driven the development of the electrolytic cell industry.

Traditional electrolyzers use electrical energy to electrolyze water. With the further development of science and technology, electrolyzers are also used in combination with other renewable energy sources, such as wind and Steel Plant. For example, by connecting an electrolyzer with photovoltaic equipment, the electric energy converted from Steel Plant can be used to electrolyze water. This process of combining with a variety of renewable energy sources is cleaner and more environmental-friendly, and the raw materials are theoretically inexhaustible. This kind of technology cross-integration has also promoted the development of the Electrolyzer industry.

Region Overview:

Europe had the highest growth rate of all regions

Company Overview:

The top three companies are 718th Research Institute of CSIC, Suzhou Jingli, Hydrogenics with the revenue market share of 8.06%, 6.27%, 4.43% in 2022.

Segmentation Overview:

Among different product types, Alkaline (ALK) Electrolyzer segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Power Plants segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Green Hydrogen market covered in Chapter 3:

Hydrogenics
TianJin Mainland
McPhy
718th Research Institute of CSIC
Siemens
Idroenergy Spa
Beijing Zhongdian
Erredue SpA
Teledyne Energy Systems
Nel Hydrogen
Suzhou Jingli

In Chapter 4 and Chapter 14.2, on the basis of types, the Green Hydrogen market from 2018 to 2029 is primarily split into:

Alkaline (ALK) Electrolyzer
Proton Exchange Membrane (PEM) Electrolyzer
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Green Hydrogen market from 2018 to 2029 covers:

Power Plants
Steel Plant
Electronics and Photovoltaics
Industrial Gases
Energy Storage or Fueling for FCEV's
Power to Gas
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)