The report "Green Hydrogen Market" analyzes the global market by technology, storage, application, and end-use. The report includes a market share analysis and historical market data. The report highlights the global hydrogen supply-demand analysis, import/export overview, production, and competitive landscapes, as well as expansion opportunities and competition analysis for target companies.
Market Overview & Dynamics: Investments into hydrogen manufacturing facilities and decreasing dependence on energy imports to drive market growth
Global green hydrogen market growth is forecast to be around 40% between 2022-2028. Due to increased demand from the oil and gas industries, the market will witness an energy transition. Government initiatives are also a motivating factor for green hydrogen investments. The market will continue to grow due to the ongoing research and development of solid oxide electrolyzers. Green hydrogen's total cost is expected to be US$ 1.6/kg by 2030.
• Alkaline Water Electrolyzer is the preferred technology for producing green hydrogen. ALK technology will continue to hold the largest share of the global green-hydrogen market.
• On the basis of application, the most demanding segment is the power generation and energy storage segment owing to the transformational shift towards the use of green hydrogen in the electricity-producing companies in the global green hydrogen market.
• The Asia Pacific will dominate the global market for green hydrogen based on its rapid adoption of green hydrogen for energy. The upcoming CAPEX, which will increase green hydrogen supply, will also help APAC maintain its lead in the global market.
Competition Analysis: Developing regions to put in huge capital to develop green hydrogen plants
The global green hydrogen market experiences intense competition due to the presence of numerous established companies in the market. As the awareness of green hydrogen production has improved, developing countries like China and India are seeking to spend more on the initial capital expenditure (CAPEX) and construct hydrogen clusters to facilitate the production of green hydrogen. With new emerging technologies in the market coupled with constant government support, the global green hydrogen market is expected to skyrocket in the forthcoming years.
The observed industry trend in the global green hydrogen market is market consolidations, geographical and capacity expansions, mergers, and alliances. During the forecast period of 2022–2028, a significant amount of market consolidation is anticipated.
• In September 2022, Linde announced to double its green liquid hydrogen production capacity in the US, with a brand-new 35MW plant in New York, US.
• In July 2022, Buckeye Partners LP closed the acquisition of Bear Head Energy Inc. which is developing large-scale green hydrogen.
• In June 2022, Adani New Industries Ltd. (ANIL) announced its partnership with TotalEnergies SE to build one of the world’s largest green hydrogen ecosystems. TotalEnergies will buy a 25% minority stake in Adani New Industries Ltd (ANIL) as part of this strategic cooperation. Adani has stated that it will invest US$ 50 billion in green hydrogen over the next ten years and, in the initial phase, will create a production capacity of one million tons per year before 2030.
• In June 2022, Oil India Ltd. announced its collaboration with homiHydrogen in the green hydrogen value chain to help India achieve net-zero energy by 2070.
Some of the prominent players operating in the global green hydrogen market include Plug Power Inc., Ballard Power Systems, Fuel Cell Energy, ITM Power plc, Adani New Industries Ltd. (ANIL), Ceres Power Holdings plc, Siemens Gas & Power GmbH & Co., Shell plc, Linde plc, L’AIR LIQUIDE S.A., Air Products Inc., Uniper SE, Toshiba Energy Systems and Solutions Corp., ENGIE, Messer Group GmbH, and Cummins Inc. among others.
RationalStat has segmented the global green hydrogen market on the basis of technology, storage, application, end-use, and region.
• By Technology
o Alkaline Water Electrolyzer (ALK)
o Polymer Membrane Electrolyzer (PEM)
o Solid Oxide Electrolyzer
• By Storage
• By Application
o Power Generation & Energy Storage
o Others (Feedstock to produce Green Ammonia etc.)
• By End Use
o Others (Marine etc.)
• By Region
o North America
o Latin America
Rest of Latin America
o Western Europe
Rest of Western Europe
o Eastern Europe
Rest of Eastern Europe
o Asia Pacific
ASEAN (Indonesia, Vietnam, Malaysia, etc.)
Rest of Asia Pacific
o Middle East & Africa
Rest of the Middle East & Africa
For more information about this report https://store.rationalstat.com/store/green-hydrogen-market-potential-market-size-and-global-outlook/
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