Rising demand for sustainable fuels drives the United States Green Hydrogen Market in the forecast period 2024-2028. According to the TechSci Research report, “The United States Green Hydrogen Market- Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the United States Green Hydrogen market is anticipated to grow at a significant rate in the forecast period of 2028.
The Important Elements of the United States Green Hydrogen Market
Green Hydrogen is used in a wide range of industries, such as healthcare, electronics, aerospace, construction, energy & power, and others. The increasing demand for energy storage is driving the growth of the green hydrogen market, as green hydrogen has the potential to provide clean and efficient energy storage solutions that can be used in conjunction with renewable energy sources to provide reliable and sustainable power.
One of the challenges associated with the production of green hydrogen is the cost of renewable electricity, which is currently higher than the cost of electricity generated from fossil fuels in many regions. However, as the cost of renewable energy continues to decline, the production of green hydrogen is becoming increasingly cost-competitive. Hence, these factors are creating a significant impact on the buyer’s buying behavior and impeding the market growth of the United States Green Hydrogen market growth in the forecasted period.
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The United States Green Hydrogen Market is segmented based on product type and mode of distribution.
Based on the electrolyzer technology, the market is divided into PEM and alkaline. Alkaline is expected to hold the largest market share in the forecast period as it can be configured in large stacks, and is known for its long-term stability and lifetime.
Based on the application, the market is divided into power generation, transportation, industry feedstock, and others. Power generation is expected to hold the largest market share in the forecast period2028. Owing to the growing demand for power and the government’s focus on sustainable source-based energy or fuel, the need for green hydrogen is growing to generate more energy inefficiently.
Major companies operating in the United States Green Hydrogen Market are:
- Iberdrola, S.A.
- Bloom Energy Corp.
- Plug Power Inc.
- Air Liquide
- Siemens Energy
- Air Products Inc.
- GKN Hydrogen
- Linde plc
- Cummins Inc.
- Getech Group plc
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“The increasing deployment of renewable energy sources is a critical component of the transition to a low-carbon economy and is closely linked to the growth of the green hydrogen market. The integration of these two areas has the potential to significantly reduce greenhouse gas emissions and support decarbonization efforts across various sectors. This led to increasing demand for Green Hydrogen in the United States of America.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
United States Green Hydrogen Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Electrolyser Technology (PEM, and Alkaline), By Application (Power Generation, Transportation, Industry Feedstock, and Others), By Source (Solar, and Wind), By Region and Competition, 2028, has evaluated the future growth potential of United States green hydrogen market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States green hydrogen market.”
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