Market Overview
Green Hydrogen is a hydrogen fuel produced using numerous renewable energies rather than fossil fuels. It has a massive potential to provide clean power for transportation, manufacturing, and other similar activities.
According to MarkNtel Advisors’ research report, “Global Green Hydrogen Market Analysis, 2021,” the market is likely to grow at a CAGR of around 15.7% in the forecast period of 2021-26. It owes to the rapidly surging demand and opportunities for green hydrogen in several sectors that shall eventually enable various companies to benefit from a flooding hydrogen fuel economy. Oil & gas companies continue to demand green hydrogen to reduce using fossil fuels, thereby likely to drive the perception of hydrogen as an energy carrier and propel the demand for green hydrogen in the forecast years.
Impact of COVID-19
The outbreak of the Covid-19 pandemic did not adversely affect the Global Green Hydrogen Market. However, the demand for green hydrogen reduced amidst the pandemic. To avoid the spread of the virus, many governments countries across the globe imposed strict restrictions and lockdown norms that brought delays and disruptions in business activities. Additionally, the demand for products & raw materials and manufacturing facilities weakened product & service demand. Furthermore, the automotive industry also witnessed the scarcity of raw materials for manufacturers. However, government initiatives are likely to boost the Green Hydrogen demand post the COVID-19 pandemic.
Market Segmentation
Onshore Location Attains the Largest Market Share
Based on the location, the Global Green Hydrogen Market segments into Onshore and Offshore Locations. Here, the Onshore Location is likely to attain the largest market share in the forecast period. It owes prominently to the cost of electricity in the Onshore Location procured from solar panels, massively increasing the production of Green Hydrogen. Furthermore, the production of green hydrogen is increasingly becoming substantially economical due to the continuously reducing costs of solar photovoltaic & wind electricity generation. Hence, these factors are likely to drive the segment to attain the largest share of the Global Green Hydrogen Market in the forecast years.
Offshore Location to Witness the Fastest Market Growth
The Offshore Location segment shall attain the fastest market growth in the forecast years due to the rapidly growing demand and supply of green hydrogen and the growing interest from industry and market players in exploring & enabling routes to market for the large-scale production of hydrogen from offshore locations, including potential export. Hence, the segment is likely to attain the fastest growth in the coming years, states MarkNtel Advisors research report, “Global Green Hydrogen Market Analysis, 2021.”
Regional Landscape
North America to Attain for the Largest Market Share
The Global Green Hydrogen Market is expanding exponentially where North America is likely to attain the largest market share in the forecast period. It owes prominently to the well-articulated & favorable government policies concerning low emission transportation systems in the US. Furthermore, progress in carbon neutralization transportation is also propelling the demand for green hydrogen, fueling the growth of the Global Green Hydrogen Market with the largest market share in the forecast years.
Market Driver
The most prominent factor driving the growth of the Global Green Hydrogen Market is the increasing demand for renewable energy resources. Besides, the adoption rate of green hydrogen is increasing astronomically due to the massive government investments & subsidies to promote clean fuel usage, including hydrogen. Such resources are the eco-friendly alternatives to fossil fuels, which is likely to drive the Global Green Hydrogen Market massively in the forecast years.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the Global Green Hydrogen Market are Linde plc., Air Liquide, Siemens, Air Products & Chemicals, Plug Power, Nel Hydrogen, Green Hydrogen Systems, Solena Group, ERGOSUP, Loop Energy Inc., Bloom Energy.
Key Questions Answered in the Market Research Report:
1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Green Hydrogen Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Green Hydrogen Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Green Hydrogen Market based on the competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Green Hydrogen Market study?
Market Outlook, Segmentation, and Statistics:
1. Impact of COVID-19 on Global Green Hydrogen Market
2. Market Size & Analysis
2.1. By Revenue
3. Market Share & Analysis
3.1. By Technology
3.1.1. Proton Exchange Membrane Electrolyzer
3.1.2. Alkaline Electrolyzer
3.1.3. Solid Oxide Electrolyzer
3.1.4. Others
3.2. By End-User
3.2.1. Power Generation
3.2.2. Automotive
3.2.3. Mining
3.2.4. Food & Beverage
3.2.5. Others
3.2.6. Petrochemicals
3.2.7. Steel
3.2.8. Cement Industries
3.3. By Location
3.3.1. Offshore
3.3.2. Onshore
3.4. By Region
3.4.1. North America Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.1.1. The US Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.1.2. Canada Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.2. South America Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.2.1. Brazil Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.3. Europe Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.3.1. The UK Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.3.2. Germany Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.3.3. France Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.4. Asia-Pacific Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.4.1. China Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.4.2. South Korea Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.4.3. Japan Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.4.5. The Middle East & Africa Green Hydrogen Market Outlook, 2016-2026F (USD Million)
3.5. By Competitors
3.5.1. Competition Characteristics
3.5.2. Market Share & Analysis
3.5.3. Competitive Matrix
4. Global Green Hydrogen Market Hotspots & Opportunities
5. Global Green Hydrogen Market Regulations & Policy
6. Key Strategic Imperatives for Success and Growth
7. Global Competition Outlook
7.1. Competition Matrix
7.2. Company Profile