Green Hydrogen Market Size and By Region – Global Opportunities & Forecast 2021-2028

 


Green Hydrogen Market

The global green hydrogen market is expected to experience a robust growth over the coming years. Green hydrogen is produced by the electrolysis of water for which electric power is used, which is produced by inexhaustible sources of energy. The presence of strategic government norms towards the hydrogen economy and the increasing agitation towards rising carbon discharge will propel the market growth.

Request a free sample of Green Hydrogen Market

Green Hydrogen Market Dynamics

Green hydrogen is produced from inexhaustible sources, i.e. water by electrolysis process. Green hydrogen offers enormous advantages which has persuaded nations to invest in green hydrogen. For example, the United States Department of Energy has invested USD 100 million in the Research & Development of hydrogen. The European Commission will invest nearly USD 430 billion in green hydrogen by 2030. Further, the consumption of fossil fuels and rapid industrialization have raised the greenhouse effects. Greenhouse gases, such as nitrous oxide, CO2, and methane are responsible for global warming and have raised the awareness to use green hydrogen as an alternative to impede harmful gases. Thus, this is a prime factor complementing the green hydrogen market size.

The usage of green hydrogen in several end-use industries, such as chemical, power, grid injection, mobility, and industrial has elevated the market share. Also, as per the green hydrogen market report, it is used as an alternative for grey, brown, and blue hydrogen because of the zero-discharge production process and cost-competitiveness is another factor compelling the market growth.

However, the production of green hydrogen or total decarbonization has automated the whole energy system. The initial investment required to set up the entire hydrogen infrastructure is costly and will retrain the market growth of green hydrogen.

Application Segment Drivers

Based on application, the power generation segment is projected to expand at a faster rate over the forecast period. Green hydrogen is carbon di oxide free means zero carbon discharge. As per the green hydrogen market analysis, it can be used in several industries for manufacturing where the ejection of nitrous oxide, Co2, and methane are more to decrease the impact of hazards gases responsible for global warming. Green hydrogen is a sustainable substitute for the power production industry.

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

 

Comments

Post a Comment

Popular posts from this blog

Managed Print Services Market Size, Share, & Growth Analysis - 2020-2027

Image
  Managed Print Services Market The Managed Print Services Market is estimated to reach USD 70 billion by 2027, growing at a CAGR of 8.2% over the forecast period (2020-2027). The factors driving the growth of Managed Print Services Market includes digital transformation across the industry verticals such as Banking, Financial Services, and Insurance (BFSI), Healthcare and Telecommunication, emerging need to reduce paper wastage and growing trend of Bring Your-Own Device (BYOD). According to the report published by Environmental Paper Network, the consumption of paper worldwide has drastically increased by 400% over the last four decades, on an average a citizen in the United States uses more than 700 pounds of paper every year, which will boost the Managed Print Services Market Growth in the approaching years. Moreover, the growing adoption of Cloud Computing and Big Data Analytics by the major organizations, increasing investments by the leading players on research and development
Read more

Crypto Asset Management Market size, share & Trends Forecast 2028

Image
  The Crypto Asset Management Market was estimated around USD 315 million in 2020 and is predicted to grow at a CAGR of 21.1%, over the forecast period (2021-2028). The factors driving growth of the market includes rise in the number of institutional investors and wealth managers investing first time in crypto currency, surge in the volumes of online transactions around the world, emerging need to secure cryptocurrency assets, Government initiatives promoting digitalization and improvements in the living standards. Cryptocurrency asset management platforms allow investors to manage different wallets in one spot, simplifies the management of the developing crypto asset for seasoned traders, and helps users to increase their portfolio, are some of the features pushing the Crypto Asset Management Market size . Moreover, increasing adoption of cryptocurrency across industry verticals such as Healthcare, Retail and Commerce, BSFI, advancements in Internet of Things (IoT) and Artificial Inte
Read more

Liquefied petroleum gas Market Size, Share, Growth 2027

Image
  Liquefied Petroleum Gas Market The Liquefied Petroleum Gas Market is expected to grow at a faster CAGR over the forecast period (2020-2027). The factors driving the growth of Liquefied Petroleum Gas Market includes increasing use of liquefied petroleum gas as a substitute to fossil fuels, growing demand for natural gas and oil around the world and rising awareness amongst consumers about the benefits of liquefied petroleum gas. According to the report published by Statista, the Global Oil and Gas Storage Market was estimated around USD 929 million in 2019 and is expected to reach more than USD 1 billion by the end of 2026, which will boost the Global Liquefied Petroleum Gas Market in the approaching years. Moreover, growing emphasis on using cleaner sources of energy, increasing application of liquefied petroleum gas in households and restaurants for cooking and heating food and strict regulations imposed by Government reduce the carbon emission levels, are some of the additional fa
Read more