DUBLIN--(BUSINESS WIRE)--The "Global Green Hydrogen Market by Technology (Alkaline and PEM), Renewable source (Wind, Solar), End-use Industry (Mobility, Power, Chemical, Industrial, Grid Injection) and Region (North America, Europe, APAC, MEA, & Latin America) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The green hydrogen market is projected to grow from USD 444 million in 2021 to USD 4,373 million by 2026, at a CAGR of 58.0% during the forecasted period.

Alkaline electrolysis-based green hydrogen accounted for the largest share, in terms of volume, of the overall green hydrogen market

In terms of volume, the alkaline electrolysis-based green hydrogen segment accounted for the largest share of 70% of the overall green hydrogen market in 2020. Alkaline electrolysis technology is the most widely preferred technology in the production of green hydrogen across the world.

Alkaline electrolysis utilizes two electrodes lowered in a basic electrolyte solution (such as sodium or potassium hydroxide), isolated by a non-conductive permeable membrane known as a diaphragm. As compared to PEM electrolysis, alkaline electrolysis tends to produce highly pure green hydrogen as hydrogen ions do not diffuse easily into an electrolyte solution and therefore it is more highly used.

The green hydrogen market in the mobility industry is expected to register the highest CAGR between 2021 and 2026

Mobility is the largest end-use industry of green hydrogen. Green hydrogen used in the mobility industry includes vehicles used in road/off-road transportation, rail, maritime, or aviation. The mobility end-use industry accounted for the largest share by value of the green hydrogen market.

This is because hydrogen offers three times more energy per unit than fossil fuels. Before the commercialization of fuel-cell-based engines, the mobility industry had no other sustainable alternatives to fossil fuels. Fuel Cell Electric Vehicles (FCEV) offer a sustainable alternative. Green hydrogen is a viable and practical substitute for the automotive industry.

Green hydrogen-based vehicles are optimal for mining vehicles, trains, aircraft, lorries, buses, and even maritime transport. It is the best medium to achieve zero carbon footprint stipulated by advanced countries.

The green hydrogen market in Europe is projected to register the highest CAGR, in terms of value and volume, between 2021 and 2026

Europe dominated the global green hydrogen market. The region has the presence of many manufacturers of green hydrogen and their products. Germany accounted for a major share of the global green hydrogen market and is expected to register significant growth during the forecast period. The growth of the green hydrogen market in this region is mainly driven by the growing mobility and power industry.

Market Dynamics

Drivers

• Low variable electricity costs
• Technological advancements
• Global plans for net-zero emissions by 2050
• High demand from FCEVs and power industry

Restraints

• Higher costs of green hydrogen
• Lack of transportation infrastructure
• Energy loss in value chain
• Sustainability management

Opportunities

• Decreasing costs of electrolyzers
• Increasing government investments
• Announcement of large capacity green hydrogen projects
• Favorable policies for green hydrogen

Challenges

• High initial investments
• Under-developed market

Companies Mentioned

• ACWA Power
• ATAWEY
• Acme Solar Holdings Ltd
• Air Liquide
• Air Products and Chemicals, Inc.
• AquaHydrex, Inc.
• Beijing CEI Technology Co., Ltd.
• Cummins Inc.
• Enapter
• Enegix Renewable Energies Ltd.
• Enel Green Power S.P.A
• Engie
• Envision Digital
• Geopura
• Green Hydrogen Systems
• Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd.
• H&R Olwerke Schindler GmbH
• Hiringa Energy
• Hynamics (EDF)
• ITM Power Plc
• Iberdrola
• Iwatani
• Lhyfe
• Linde
• Nel ASA
• Orsted AS
• Plug Power
• Rosatom
• Siemens Energy Ag
• Starfire Energy
• Thyssenkrupp
• Tianjin Mainland Hydrogen Equipment Company Ltd.
• Toshiba Energy Systems & Solutions Corporation
• Uniper SE
• Wind To Gas Energy GmbH & Co. Kg
• Xebec Adsorption, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/ifaf3j

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