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Green Hydrogen Market Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The latest report by IMARC Group, titled “Green Hydrogen Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. offers a comprehensive analysis of the industry, which comprises insights on the global green hydrogen market trends. The global market size reached US$ 682.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 12250.9 Million by 2028, exhibiting a growth rate (CAGR) of 58.5% during 2023-2028

Green hydrogen, often referred to as renewable hydrogen, is a clean energy source produced through the process of electrolysis, wherein electricity generated from renewable sources, such as wind or solar power, is used to split water molecules into hydrogen and oxygen. This method offers a sustainable and eco-friendly alternative to traditional hydrogen production, which relies on fossil fuels. Green hydrogen has gained significant attention and importance in recent years due to its potential to reduce greenhouse gas emissions and mitigate climate change. Its unique attribute lies in its role as an energy carrier, enabling the storage and transportation of renewable energy for various industrial applications

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Green Hydrogen Market Trends and Drivers:

The global green hydrogen market is experiencing robust growth driven by the increasing investment by government authorities in clean energy solutions. Green hydrogen, with its carbon-neutral production process, is emerging as a pivotal component of this transition. Additionally, the growing demand for sustainable energy sources in sectors like transportation, manufacturing, and power generation is propelling the adoption of green hydrogen technologies. Furthermore, partnerships and collaborations between renewable energy producers and industrial players are accelerating the expansion of the market. Companies are recognizing the value of integrating green hydrogen into their operations to reduce carbon footprints and ensure long-term sustainability. Simultaneously, advancements in electrolysis technology are enhancing the efficiency and cost-effectiveness of green hydrogen production, making it increasingly competitive with conventional hydrogen production methods. Moreover, industries are increasingly embracing green hydrogen to achieve energy resilience and reduce dependency on fossil fuels, which are subject to price fluctuations and supply uncertainties.

Report Segmentation:

The report has segmented the market into the following categories:

Technology Insights:

  • Proton Exchange Membrane Electrolyzer
  • Alkaline Electrolyzer
  • Others

Application Insights: 

  • Power Generation
  • Transport
  • Others

Distribution Channel Insights:

  • Pipeline
  • Cargo

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • Air Liquide S.A.
  • Air Products and Chemicals Inc.
  • Enapter AG
  • Green Hydrogen Systems A/S
  • Linde plc
  • Nel ASA
  • Ørsted A/S
  • Plug Power Inc.
  • Siemens Energy AG
  • Uniper SE (Fortum Oyj)

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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