The Global Green Hydrogen Market is reported USD 8.01 billion in 2028 and it is projected to grow at a CAGR of 43.3% during the forecast period.

Green hydrogen has made a prominent name for itself owing to carbon emissions and shift to cleaner fuel replacements. In lieu of carbon footprints, the green hydrogen market is set to enter the markets in huge numbers in the forecast period.

Drivers
Strict energy transmissions imposed by the governments of various countries to tackle global warming has paved the way for green hydrogen market. Both private and public sectors are making grandiose plans to advance the new the new green hydrogen technology and accompanying infrastructure.

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With stern guidelines against the use of traditional fuel and in order to meet green energy targets in automotive and aerospace sector, the market for green hydrogen looks very inviting. Swift solar power generation equipment will enhance the industry progression.

The drivers for the market include favourable government efforts to reduce carbon emission coupled with capital investment and grants for promoting green hydrogen in European market.
In North American markets, the same rues ‘prevail.
Restraints
The restraints include the high costs related to production, conversion, storage and transportation of green hydrogen, which will pose an obstacle to the market. The sum total of dissecting hydrogen into a more consumable form could delay the green hydrogen market further.
Opportunities
The opportunities for the market include the government initiatives and core strength of green hydrogen with deep R&D efforts could act as opportunities for the market. Green hydrogen can be used in electric cars, nuclear power, sustainable energy and airships. Hydrogen fuel cells were used by a majority of passenger cars and buses, not to mention commercial vehicles and heavy duty trucks.
Big mergers between companies and copious investments in the green hydrogen economy will bolster the growth of the market.
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Segmentation
By Renewable Source
The wind source segment is in gear to prevail with a USD 19 Billion revenue by 2030. An inclination towards adopting cleaner initiatives fostering on-shore and off-shore wind farm installations will provide growth in the market. Robust developments in technology with pronounced government prodding will instrument growth in the green hydrogen market.
By End-Use
The petrochemical segment ruled the global market share with revenue of around USD 100.8 million in 2020. No tailpipe emissions other than water are released from a hydrogen fuel cell vehicle, thus adding to carbon neutrality. The potential for fast pace of growth in the petrochemical sector is expected to increase demand for green hydrogen in the petrochemical segment, leading to market expansion.
A study to do with fuel emission discovered that cars that run on petrol emit 200 g CO2/km, those that run on diesel emit 120 g CO2/km, and those that run on CNG emit nearly 111 g CO2/km, while hydrogen fuel cell vehicles emit nearly zero CO2/km.
Key Players
Key Players in the green hydrogen market incude Uniper SE, Air Products and Chemicals, Air Liquide, Linde, Inc., Siemens, Engie, Hydrogenics, Toshiba Energy Systems and Solutions Corp., Nel ASA
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Based on Technology

• Alkaline Electrolysis
• PEM Electrolysis

Based on Application

• Power Generation
• Transport
• Others

Based on Renewable Source

• Solar Energy
• Wind Energy
• Others (hydropower, geothermal, and hybrid of solar & wind)

Based on End-Use

• Power
• Medical
• Chemical
• Petrochemical
• Mobility
• Grid Injection
• Others

Region

North America
• United States of America
• Canada

Europe
• Germany
• United Kingdom
• Rest of Europe

Asia-Pacific
• Australia
• Japan
• China
• India
• Rest of Asia-Pacific

LAMEA
• Brazil
• United Arab Emirates
• South Africa
• Rest of LAMEA

TOC:
Global Green Hydrogen Market Growth, Trend and Forecast 2022-2028
Chapter 1 Green Hydrogen Market Overview
1.1 Product Overview and Scope of Green Hydrogen
1.2 Green Hydrogen Market Segmentation by Technology
1.2.1 Global Green Hydrogen Market Share of Green Hydrogen by Technology in 2022
1.2.2 Proton exchange membrane electrolyzer
1.2.3 Alkaline electrolyzer
1.2.4 Solid oxide electrolyzer
1.3 Green Hydrogen Market Segmentation by Application
1.3.1 Power generation
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