15.7% CAGR to Shape the Future of the Green Hydrogen Market | Trends and Future Projection - Blog

Latest Market Study report by MarkNtel Advisors: Leading market research company, Title “Green Hydrogen Market- By Technology (Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer, Others), By End-User (Power Generation, Automotive, Mining, Food & Beverage)” and other forecast 2024-30”. This detailed report provides a thorough look at the industry, covering key aspects like the Green Hydrogen Market Size, its growth in share, development, and the top companies involved. It examines what's driving the market, using historical, current, and projected data, as well as emerging trends, technology updates, important insights, recent developments, potential limitations, and other factors that will influence the industry's direction in the future.

How Big is the Green Hydrogen Industry?

Global Green Hydrogen Market size is projected to grow at a CAGR of around 15.7% during the forecast period, i.e., 2024-30.

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Factors Influencing the Growth of the Green Hydrogen Industry:

Growing Concern About Climate Change & Emissions Reduction – One of the main factors propelling the Global Green Hydrogen Market is the growing concern about climate change and the necessity of reducing greenhouse gas emissions. As the globe struggles with the effects of climate change, switching to low-carbon and renewable energy sources is becoming more and more important in several areas. Because it provides a means of decarbonizing industries that are difficult to directly electrify, such as heavy industry, long-distance transportation, and certain industrial processes, green hydrogen is especially alluring. Compared to conventional fossil fuel-based hydrogen production methods, producing hydrogen by electrolysis with renewable energy sources, such as solar and wind, produces no greenhouse gases and consequently reduces carbon emissions.

Name of Leading Green Hydrogen Companies in the Global Market

> Linde plc

> Air Liquide

> Air Products & Chemicals

> ENGIE

> Uniper Energy Storage GmbH

> Wind to Gas Energy GmbH & Co. KG

> Shell plc

> Siemens Energy AG

> Toshiba Energy Systems & Solutions Corporation

> Nel ASA

> Cummins Inc.

> H&R Ölwerke Schindler GmbH

> Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd.

> Orsted AS

> Lhyfe

> Others

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Segmentation Summary - Green Hydrogen Market

The breakdown of the Green Hydrogen market into different segments provides a quick overview. It helps businesses understand what customers prefer and where they are located. By dividing the market into smaller groups based on purchasing habits and geography, companies can improve their business strategies. This summary offers a straightforward guide to better understanding the market.

By Technology

> Proton Exchange Membrane Electrolyzer

> Alkaline Electrolyzer

> Solid Oxide Electrolyzer

> Others

By End Users

> Power Generation

> Automotive

> Mining

> Food & Beverage

> Others (Petrochemicals, Steel and Cement Industries)

By Location

> Onshore

> Offshore

Regional Insight: Global Green Hydrogen Market

Geographically, the Green Hydrogen Market expands across:

North America
South America
Europe
Middle East & Africa
Asia-Pacific

Of all regions, Europe is set to dominate the Global Green Hydrogen Market with the largest market share during 2024–30. It ascribes to the active participation of the governments of different countries in the region, demonstrating a keen interest in curbing emissions and bringing greater environmental sustainability by making paradigm shifts to renewable resources for power generation instead of fossil fuels. It, in turn, is also hinting toward a rise in the research & development of green hydrogen & its set plans for deployment in the future.

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