How Green Hydrogen can reshape the renewable energy future of World

 The global Green Hydrogen Market is expected to reach a market size of USD 2,569.7 Million by 2028 and register a high CAGR during the forecast period, according to a latest report by Reports and Data.

As renewables increase their footprint on the broader energy policy landscape of India, there are new challenges that are presenting themselves. When the renewable power is in excess of the demand, it has the potential for creating chaos on the grid. Conventional power from hydro, thermal and nuclear is predictable and manageable, renewable power through wind and to a lesser extent solar cannot be predicted well. Green Power producers are facing the threat of penalties if they put excess power on the grid and are being forced to look at alternative uses for the excess power. To address such new challenges, advent of green hydrogen making an appearance as an alternative energy ecosystem worldwide can’t be overlooked. At a time when India is well on its way to meet its Paris commitments for the greater cause of climate change and global warming, an accelerated uptake of green hydrogen within the country can reshape the renewable energy future of India and thereby further facilitate green growth.

Download Free Sample PDF Copy Of Green Hydrogen Market 

Download Free Sample PDF Copy

Unlike traditional fossil fuel-based hydrogen, green hydrogen is produced through electrolysis of water using renewable power such as solar or wind which after splitting water’s two main elements hydrogen and oxygen, vents oxygen as a byproduct into the atmosphere. When modern electrolysis technologies such as Proton Exchange Membrane (PEM) are used, then there is no further discharge of harmful chemicals and the technology is environmentally friendly and easy to manage.

Factors such as rising investments and increasing focus and related initiatives by governments across various countries to reduce dependence on fossil fuels and other non-renewable energy resources, and shift away from non-renewable energy resources are driving growth of the market. Green hydrogen can be used in aircraft as a fuel, it can be a solution to 24% of the energy needs by 2050, and can also be used to achieve zero carbon emissions by the end of the same year.

Key participants include Air Liquide, Engie, Linde, Uniper SE, Hydrogenics, Siemens, Toshiba Energy Systems & Solutions Corporation, Air Products and Chemicals, Inc., FuelCellsWorks, and Green Hydrogen Systems.

Further key findings in the report

• In January 2021, Siemens Energy partnered with Mubadala Investment Company and Masdar City on development of green hydrogen. The goal of the deal is to reduce production costs of green hydrogen and to establish a local green hydrogen economy.
• The Alkaline (ALK) electrolyzer segment accounted for the largest revenue share among the technology segments. ALK is cheaper than proton exchange membrane electrolyzer, which will propel adoption of this technology going ahead.
• Green hydrogen can be stored in existing gas pipelines and used to power household appliances. It is used in fuel cells to power devices that requires electricity, such as electric vehicles, and as long as these fuel cells have hydrogen fuel, they will not run down or need to be recharged, unlike other conventional batteries.
• Europe accounted for largest revenue share contribution to the global green hydrogen market in 2020 due to increasing investments in the EU’s Green Deal. Investment by governments in Next Generation EU and European Green Deal is expected to stimulate recovery of the economy that has been impacted by the COVID-19 pandemic. This is also projected to create jobs and boost leadership in strategic industries, which is crucial for the region’s resilience.

Download Free Sample PDF Copy Of Green Hydrogen Market 

For the purpose of this report, Reports and Data has segmented the global green hydrogen market on the basis of technology, application, and region:

Technology Outlook (Revenue, USD Million; 2018 – 2028)

• Proton Exchange Membrane (PEM) Electrolyzer
• Alkaline (ALK) Electrolyzer
• Solid Oxide Electrolyzer

Application Outlook (Revenue, USD Million; 2018 – 2028)

• Heating
• Power Generation
• Transportation

Regional Analysis Covers:

North America (U.S.A., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Thank you for reading our report. Customization of the report is available according to the requirements of the clients. Kindly get in touch with us to know more about the report and our team will ensure the report is tailored according to your needs. 

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:

John W

Reports and Data | Web: www.reportsanddata.com