Green Hydrogen Market Witness Highest Growth AT a CAGR of more than 51.23% by 2030

Market Insights

As per recent research by MarkNtel Advisors, The Global Green Hydrogen Market is estimated to grow at a CAGR of around 51.23% during the forecast period, i.e., 2024-30.

Global Green Hydrogen Market Driver:

Increasing Government Support for the Production of Green Hydrogen – Green Hydrogen plays a critical role in decreasing the dependence on energy imports, safeguarding the environment, and satisfying the growing energy needs globally. In relation to this, governments are developing hydrogen strategies and taking necessary initiatives by providing their support to drive economies towards green hydrogen in refineries, fertilizers, and gas networks across the globe.

Moreover, the Asia-Pacific countries such as Japan, Singapore, Korea, and China promote global supply chains and progress pertinent technologies that have gained the attention of scientists, investors, and governmental bodies towards the utilization of green hydrogen at large. For instance:

• In 2021, the European Commission implemented various intermediate proposals to decrease 55% of greenhouse gas emissions by 2030 as a part of the European Green Deal (EGD) Project.

The EGD is a long-term policy initiative of the EU that focuses on the climate strategy to reach net zero emissions by 2050 and provide a roadmap towards a green economic growth strategy.

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Market Segmentation and Consumer Behavior:

By Technology

• Proton Exchange Membrane Electrolyzer– Market Size & Forecast 2024-2030F (Thousand Tons)
• Alkaline Electrolyzer– Market Size & Forecast 2024-2030F (Thousand Tons)
• Solid Oxide Electrolyzer– Market Size & Forecast 2024-2030F (Thousand Tons)
• Others– Market Size & Forecast 2024-2030F (Thousand Tons)

By Energy Source

• Solar– Market Size & Forecast 2024-2030F (Thousand Tons)
• Wind– Market Size & Forecast 2024-2030F (Thousand Tons)
• Other Renewable Sources– Market Size & Forecast 2024-2030F (Thousand Tons)

By End Users

• Power Generation & Energy Storage– Market Size & Forecast 2024-2030F (Thousand Tons)
• Automotive & Transportation– Market Size & Forecast 2024-2030F (Thousand Tons)
• Industrial Feedstock
• Refineries & Petrochemicals– Market Size & Forecast 2024-2030F (Thousand Tons)
• Steel & Cement Manufacturing– Market Size & Forecast 2024-2030F (Thousand Tons)
• Others (Food & Beverage, etc.) – Market Size & Forecast 2024-2030F (Thousand Tons)

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Key Players and Competitive Strategies in the Green Hydrogen Market

Several prominent players dominate the Green Hydrogen Market, including:

• Cummins
• MHI
• Stiesdal A/S
• Siemens
• Thyssenkrupp
• Other Potential Players
• Renewable Power Generation Solution Providers
• Acme Group
• General Electric
• Enel Green Power
• Azure Power
• AMEA Power
• Statkraft
• Green Hydrogen Manufacturing Company
• Air Liquide
• Linde
• Air Products
• GAIL Limited
• Shell Plc
• TotalEnergies
• Adani Group

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Questions Addressed in this Study

1.What factors are driving the Green Hydrogen Market growth?

2.How is the Green Hydrogen Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Green Hydrogen Market?

4.What is the current size of the Green Hydrogen Market, and how is it projected to change in the future?

5.What is the future outlook for the Green Hydrogen Market in terms of technological advancements and market expansion?

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