Facts and Factors: Green Hydrogen market to grow to $1.423m by 2026
According to Facts and Factors, the green hydrogen market size and share revenue are expected to grow from $755 million in 2020 to reach $1,423.2 million by 2026.
Facts and Factors published a new research report titled on the green hydrogen market.
The market companies profiles included in the report with their sales, revenues, and strategies are (amounts others):
- Green Hydrogen
- Toshiba Energy Systems & Solutions
- Nel ASA, Cummincs
- Guangdong Nation-Synergy Hydrogen Power Technology
The market is expected to reach $1,423.2 million by 2026 from $755 million in 2020; at a compound annual growth rate (CAGR) of 13.8 per cent during the forecast period 2021 to 2026.
The average global price of green H2 often changes from the higher to the lower end. However, fossil fuel sources often produce the current volume of green hydrogen.
The market will reach a higher revenue due to the rising in policies favoring the green H2 in the energy sector. This is coupled with rising environmental concerns regarding increasing carbon emissions from fossil fuel usage. Additionally, the rising of projects of integration of H2 will increase the footprint of the global the market. Moreover, the ability to store green H2 easily and use it at a later pace will push the market to a new horizon.
The global green hydrogen market grows by rising demand for lowering the cost of producing renewable energy by all sources. However, a higher capital cost of the electrolyzer coupled with a low presence of lower-cost H2 production devices will decrease the growth of the global green hydrogen market to some extent.
Facts and Factors: Global green hydrogen market segmentation
The global market segments itself into technology, source, application, and region, as per Facts and Factors.
It divides itself into an alkaline electrolyzer, proton exchange membrane, and solid oxide electrolyzer on the basis of technology.
The alkaline electrolytes segment will reach the largest market share due to its preference when compared to its counterparts.
The wind energy segment will witness the largest market share owing itso larger adoption coupled with easy availability.
The global green hydrogen market divides itself into mobility, chemical, power, industrial, grid injection, and others on the basis of application. Also, the mobility category will occupy the largest market share.
Europe is the region that will witness the largest market. This is because of rising investment opportunities coupled with the region aiming for a strong energy transition. Additionally, the region is further adopting policies of clean energy.
Key questions Facts and Factors answered in the report
The questions are as follow:
- The projected market size & growth rate of the green hydrogen market;
- The key driving factors for the growth of the market;
- The top companies operative in the market;
- The segments covered in the market.
In conclusion, the report names top market players as Linde, Air Liquide, Air Products and Chemicals, Uniper, Siemens, Green Hydrogen, Hydrogenics, and others.