In line with the ChemAnalyst report titled “Global Green Hydrogen Market Analysis: Plant Capacity, Production, Process, Operating Efficiency, Demand & Supply, End-User Industries, Regional Demand, 2015-2032,” it is forecasted that the Green Hydrogen market will undergo a substantial increase, with an anticipated Compound Annual Growth Rate (CAGR) of 132% by 2032. This growth is primarily attributed to the escalating demand for Green Hydrogen across key sectors like Green Ammonia, Transportation Fuel, Power & Heating, Refining, and Chemical Feedstock, fostering market expansion throughout the forecast period.
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Hydrogen, being an abundant element in nature, can be derived from water, biomass, fossil fuels, or a combination of these sources. However, traditional methods are costly and result in carbon dioxide emissions. In contrast, Green Hydrogen is produced via Water Electrolysis, effectively separating water molecules into their constituent hydrogen and oxygen components without emitting greenhouse gases. While Green Hydrogen finds diverse applications, its significant uses include Energy Storage, Feedstock, and Transportation.
The pivotal driver behind the upsurge in green hydrogen pertains to the synthesis of green ammonia. Green ammonia serves as a zero-carbon emission fuel, finds utility in fertilizers, industrial power generation, and transportation, aligning with the current global quest for clean and sustainable energy sources. With the world’s ever-increasing energy demands due to population growth, the environmentally friendly nature of green hydrogen, emitting zero carbon dioxide, positions it as a pivotal environmentally conscious fuel.
The global Green Hydrogen market segmentation is based on end-use, sales channels, and regions. Asia Pacific currently dominates the global market share, holding approximately 50% in 2022. Anticipated future trends indicate a surge in energy demand and renewable energy adoption in the Asia Pacific, likely bolstering the Green Hydrogen market. Following closely, Europe stands as the second largest consumer, benefitting from Green Hydrogen’s sustainability, powering windmills, electric vehicles, and supported by stringent governmental policies favoring its use.
Segmented by end-user industries, the Green Hydrogen market encompasses pivotal sectors such as Green Ammonia, Transportation Fuel, Power & Heating, Refining, and Chemical Feedstock. Notably, Green Ammonia commands a 40% market share as of 2022, while Transportation Fuel remains another compelling application.
As per the report “Global Green Hydrogen Market Analysis: Plant Capacity, Production, Process, Operating Efficiency, Demand & Supply, End-User Industries, Regional Demand, 2015-2032,” prominent companies in the Global Green Hydrogen market include Sinopec, Ningxia Baofeng Energy Group, Shell Plc, Jilin Chemical, Ohmium, Air Liquide, Acme Group, GAIL (India) Limited, Indian Oil Corporation Ltd, Toshiba Energy Systems and Solutions, SK Inc & Monolith, Hyosung Group, Linde Plc, Cleantech Group (Svevind Energy Group), N.V Nederlandse Gasunie, among others.
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https://www.chemanalyst.com/industry-report/green-hydrogen-market-323
Mr. Karan Chechi, Research Director at TechSci Research, a research-based management consulting firm promoting ChemAnalyst globally, emphasized, “The burgeoning demand for Green Hydrogen as a renewable energy source, for power generation, and in transportation amenities like Fuel cell electric vehicles (FCEVs), is expected to drive the expansion of the Global Green Hydrogen market until 2032. The increasing utilization of green hydrogen for producing green ammonia, with applications in energy storage, fertilizers, transportation, and as a zero-carbon fuel, remains a primary catalyst for the market’s expansion. The potential of Green Hydrogen to curtail carbon emissions and substitute conventional fuels is poised to further expand the Global Green Hydrogen market in the forecasted period.”
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