Green Hydrogen Market: Overview
- Demand for sources of renewable energy is rising across the globe in order to lower carbon emission. Green hydrogen is one of the sources of renewable energy.
- Green hydrogen is made from regenerative energy sources through water electrolysis. The water is separated into oxygen and hydrogen in an electrolyzer with the help of electric current and is distinguished from grey hydrogen obtained from fossil fuels (such as natural gas).
- The chemical aspect of hydrogen is still underrated. Hydrogen is environment friendly, and can be stored and converted back into electricity or heat whenever required.
- Currently, three types of electrolyzer technologies are used: alkaline (ALK) electrolyzer, proton exchange membrane (PEM) electrolyzer, and solid oxide electrolyzer. The proton exchange membrane electrolyzer technology is widely used across the globe.
- Hydrogen can be stored and transported in different ways. These include pipelines, tankers, and small storage tanks.
- The usage of green hydrogen can help reduce the dependence on fossil fuels and the expense on import of fuel
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Key Drivers of Global Green Hydrogen Market
- Demand for green hydrogen has been increasing since the last few years, as it helps lower carbon footprint. It also helps meet the rising demand for power across the globe. Green hydrogen is a renewable source of energy. Thus, adoption of green hydrogen is anticipated to rise in the near future.
- Increase in awareness about hydrogen as energy carrier is estimated to boost the global green hydrogen market in the near future
Green Hydrogen Market: Key Development
- On May 20, 2020, SGH2 Energy Global LLC, a part of multinational company Solena Group, announced plans to build the world’s largest green hydrogen plant in Lancaster, California, the U.S. The facility would be constructed on a five acre site and use recycled mixed paper waste to produce up to 11,000 kilograms (24,251 pounds) of green hydrogen per day and 3.8 million kilograms annually. The company claimed that its technology lowers carbon emissions by two to three times more than alternative green hydrogen options.
North America to Hold Major Share of Global Green Hydrogen Market
- Based on region, the global green hydrogen market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global green hydrogen market in 2019, owing to growth in investment in the renewable sector in the region
- Europe is estimated to account for major share of the global green hydrogen market during the forecast period. The region is investing significantly in the renewable energy sector to meet the Europe 2020 strategy, which includes the target of reaching 20% of gross final energy consumption from renewable sources.
- The market in Asia Pacific is estimated to be highly attractive during the forecast period. Demand for power has been rising in the region owing to the growth in population. China, Japan, and India are investing significantly in sources of renewable energy.
- The market in Middle East & Africa and Latin America is likely to expand at a moderate pace during the forecast period. Investment in the renewable sector is estimated to rise in these regions in the near future.
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Key Players Operating in Green Hydrogen Market
Major players operating in the global green hydrogen market are:
- SGH2 Energy Global LLC
- Siemens Gas and Power GmbH & Co. KG
Global Green Hydrogen Market: Research Scope
Global Green Hydrogen Market, by Technology
- Alkaline (ALK) Electrolyzer
- Proton Exchange Membrane (PEM) Electrolyzer
- Solid Oxide Electrolyzer
Global Green Hydrogen Market, by Application
- Power Generation
Global Green Hydrogen Market, by End-use Industry
- Food & Beverages
Global Green Hydrogen Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.