A recent report published by Infinium Global Research on the green hydrogen market provides an in-depth analysis of segments and sub-segments in the global as well as regional green hydrogen market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional green hydrogen market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global green hydrogen market. According to the report, the global green hydrogen market is projected to grow at a CAGR of over 50% over the forecast period of 2022-2028.
The market was valued at about USD 4 billion in 2022 and is expected to reach nearly USD 50 billion in 2028, with a CAGR of over 50% during the forecast period. During the forecast period, a compound annual growth rate (CAGR) is anticipated for the worldwide green hydrogen market. Water is electrolyzed to create green hydrogen, which is then processed using electricity provided by renewable energy sources like solar or wind energy. The demand for the hydrogen economy is anticipated to be driven by the presence of supportive government policies promoting it as well as growing environmental concerns around rising carbon emissions from the use of fossil fuels. It is projected that this tendency will offer the industry a potential growth environment.
Green hydrogen has recently been in high demand due to its ability to reduce carbon emissions. Additionally, it aids in supplying the world's expanding energy needs. Its use is predicted to increase over the next several years because it is a renewable energy source. The global market is anticipated to rise as knowledge of hydrogen's potential as an energy source increases. The industry is also growing as a result of an increase in environmental concerns, which emphasize the need for clean, renewable energy production to lower emission levels. Additionally, the business of green hydrogen is expanding due to the increased use of nuclear power and green hydrogen. However, the primary barriers to expanding hydrogen infrastructure are the high upfront costs as well as the prohibitive maintenance expenses, which are estimated to hinder the growth of the market.
In 2021, Europe held a sizable portion of the worldwide market. The market in the area is anticipated to expand significantly over the course of the forecast period. With the largest proportion of the green hydrogen market in the continent, Germany is a significant market for the substance. This is brought on by an increase in investments in the creation of clean technologies for power generation in Germany, including solar and wind. A substantial portion of the global market for green hydrogen will be in the Asia Pacific area in 2021. India and China are making considerable investments in Green Hydrogen.
The report on the global green hydrogen market covers segments such as technology, application, and distribution channel. On the basis of technology, the sub-markets include alkaline electrolyzer, polymer electrolyte membrane (PEM) electrolyzer, proton exchange membrane electrolyzer, and solid oxide electrolyzer. On the basis of application, the sub-markets include power generation, transportation, and others. On the basis of distribution channel, the sub-markets include pipeline, and cargo.
The report provides profiles of the companies in the market such as Air Liquide, Air Products Inc., Bloom Energy, Acciona, Engie, Linde plc., Nel ASA, Enel Spa, Iberdola Group, and Uniper SE.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the green hydrogen market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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