The global clean hydrogen market size to reach revenues of USD 2098.44 million by 2026, growing at a CAGR of approximately 14.01% during the forecast period.
CHICAGO, ILLINOIS, UNITED STATES, July 13, 2021 /EINPresswire.com/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global clean hydrogen market report.
The clean hydrogen market is expected to grow at a CAGR of over 14.01% during the period 2020โ2026.
Key Highlights Offered in the Report:
1. The global clean hydrogen market is witnessing high growth owing to the emission of carbon dioxide to the environment from transport, industrial, power generation sectors. The clean hydrogen provides the zero emission of CO2 to the environment.
2. Europe dominated the clean hydrogen market accounted for 56.48% share in 2020. The emission of carbon dioxide to the environment has increased global warming henceforth, many European countries has decided to be carbon free by 2050, which is promoting the clean hydrogen as an alternative for various fuel such as oil, gas, and fossil fuels.
3. Alkaline Electrolyzer is widely adopted owing to their low price and contributes 58.75% of overall clean hydrogen market.
4. The clean hydrogen by alkaline electrolyzer will be the fastest growing technology during the forecast period owing to their low prices.
5. The transport sector dominated the global clean hydrogen market and accounted for 45.20% share in 2020.
6. The clean hydrogen market in APAC region will grow at a CAGR of 12.67% during 2021-2026. Owing to easily accessible of raw materials and cheap labour has attracted many foreign investments in the region which has supported the growth of industrial, transport and power requirement in the region.
Key Offerings:
โข Market Size & Forecast by Revenue | 2020โ2026
โข Market Dynamics โ Leading trends, growth drivers, restraints, and investment opportunities
โข Market Segmentation โ A detailed analysis by technology, end-user, and geography
โข Competitive Landscape โ 5 key vendors and 22 other vendors
Clean Hydrogen Market โ Segmentation
โข The alkaline electrolyzer is one of the easiest hydrogen production methods as it produces 99.9% pure gas. The electrodes which are used in the techniques are robust zirconium dioxide-based diaphragms and Nickel coated stainless steel. The alkaline electrolyzer is expected to grow due to its low price compared to other electrolyzers.
โข The transport sector contributed the largest share of 45.20% to the overall green hydrogen market in 2020. While some companies are selling hydrogen cars in selected countries, battery-operated electric vehicles are being chosen by an increasing number of car manufacturers worldwide.
โข PEM electrolysis is more dynamic and responsive to changing power inputs requirement than alkaline electrolyzer. The key components in the PEM electrolyzer are the bipolar plates with flow channels, current collectors, and membrane electrode assembly.
Clean Hydrogen Market by Technology
โข Alkaline Electrolyzer
โข PEM Electrolyzer
โข SOE Electrolyzer
Clean Hydrogen Market by End-User
โข Transport
โข Power Generation
โข Industrial
โข Others
Clean Hydrogen Market โ Dynamics
One of the major climate objectives for all the developed and developing countries is decarbonizing their economies. Several countries worldwide have set the target of achieving carbon neutrality by 2050. One of the major initiatives for transitioning to a low-carbon economy is the production of clean hydrogen. According to IEA (International Energy Agency), the use of clean hydrogen in countries could prevent the emission of approximately 830 million tons of carbon dioxide annually, which is associated with the use of fossil fuels. In the US, the top three sources of global emissions include transportation, electricity generation, and industries. Energy efficiency, renewable energy sources, and direct electrification can reduce emissions from electricity production. Experts believe that clean hydrogen will be essential to meet the decarbonization goals. However, sectors such as long-distance trucking and concrete and steel manufacturing are difficult to decarbonize as they require high energy density fuel or intension heat. Thus, clean hydrogen is an ideal fuel option for transportation and electricity generation applications.
Key Drivers and Trends fueling Market Growth:
โข Cost Competitiveness
โข Broader Use of Hydrogen & Benefits for Power Systems
โข Supportive Government Policies
Clean Hydrogen Market โ Geography
With climate-friendly policies and stringent frameworks, the contribution from countries like France, Italy, Spain, Norway, the UK has made a significant impact on the global clean hydrogen market. In 2020, the European market accounted for a share of 82.51% in the global clean hydrogen market. The European Commission has many policies for reaching net-zero global warming emission by 2050, and hydrogen will be a key instrument. In the European region, there is already plenty of momentum for the growth of clean hydrogen. About 100 MW of clean hydrogen capacity has already been built, and there has been an announcement for a 20 GW plant in the coming years. The European Union released its hydrogen strategy in July 2020 and is committed to installing a 6 GW renewable hydrogen electrolyzer in the Europe region by 2024 and 40 GW renewable energy electrolyzer by 2030. Countries such as Germany, France, Spain, and the Netherlands, have already released their national hydrogen strategy, and hydrogen, especially clean hydrogen, is part of these energy strategies.
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Clean Hydrogen Market by Geography
โข Europe
โข Germany
โข France
โข Spain
โข Italy
โข UK
โข North America
โข US
โข Canada
โข APAC
โข Japan
โข China
โข Australia
โข India
โข South Korea
โข Middle East & Africa
โข Saudi Arabia
โข Morocco
โข Oman
โข Latin America
โข Chile
โข Mexico
Major Vendors
โข Linde plc
โข Air Liquide
โข Engie
โข Uniper SE
โข Siemens Energy
Other Prominent Vendors
โข Air Products Inc
โข Clean Hydrogen System
โข Cummins Inc
โข Toshiba Energy System & Solution Corporation
โข Nel ASA
โข SGH2 Energy
โข SunGreenH2
โข Green Hydrogen
โข Fuel Cell Energy
โข Plug Power
โข McPhy
โข Arkema
โข Symbio
โข ACWA Power
โข CWP Global
โข HyPoint
โข Enapter
โข Hytech Power
โข Hyon
โข Ballard Power System
โข Bloom Energy
โข Rouge H2 Engineering GmbH
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