Green Hydrogen Industry To Grow At High Rate Of 40% With Growing Environmental Concerns

Green Hydrogen Market Report 2021 - COVID-19 Growth And Change

Green Hydrogen Global Market Report 2021 – COVID-19 Growth And Change

The Business Research Company’s Green Hydrogen Global Market Report 2021 – COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, November 11, 2021 / — Increasing environmental concerns are expected to propel the growth of the green hydrogen market in the forecast period. Green hydrogen is a hydrogen-based fuel that is made by electrolyzing water with electricity supplied from low-carbon sources. It will help in reducing carbon emissions and provide care to our planet. For instance, International Energy Agency (IEA) aims to bring global energy-related carbon dioxide emissions to net-zero by 2050. Fossil fuels are one of the main contributors to poor air quality and they account for 80% of all the energy worldwide. Additionally, IEA estimates that by 2050 around 1.77 million premature deaths will occur due to indoor air pollution, and around 4.97 million premature deaths will occur due to outdoor air pollution. According to World Health Organization, an estimated 4.2 to 7 million people die from air pollution worldwide every year, and nine out of ten people breathe air that contains high levels of pollutants. Therefore, increasing environmental concerns drive the growth of the green hydrogen market.

The global green hydrogen market size is expected to grow from $0.58 billion in 2020 to $0.78 billion in 2021 at a compound annual growth rate (CAGR) of 33.8%. The growth of the green hydrogen market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The green hydrogen market is expected to reach $2.94 billion in 2025 at a CAGR of 39.4%.

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In July 2021, PowerTap Hydrogen Capital Corp., Canada-based hydrogen production and the dispensing fueling company acquired a 49% stake in AES-100 Inc. for an undisclosed amount. The acquisition is expected to assure the rapid global deployment of Power Tap’s hydrogen refueling stations. AES-100 Inc. is a Canada-based green hydrogen technology company that is focused on fuel cells for the transportation Industry.

Europe was the largest region in the green hydrogen market in 2020. The regions covered in the green hydrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Major players covered in the global green hydrogen industry are Air Liquide, Air Products and Chemicals Inc., Ballard Power Systems, Engie, Fuel Cells Works, Green Hydrogen Systems, Hydrogenics, Linde Plc, Nel Hydrogen, Nikola Motors, Plug Power Inc., Siemens Energy Global GmbH & Co. KG, Solena Group, Toshiba Energy Systems & Solutions Corporation, Enapter, ERGOSUP, Loop Energy Inc., and Tianjin Mainland Hydrogen Equipment Co. Ltd.

TBRC’s global green hydrogen market report is segmented by technology into alkaline electrolyzer, proton exchange membrane electrolyzer, solid oxide electrolyzer, by application into power generation, transport, others, by end-use industry into petrochemicals, food and beverages, medical, chemical, glass, others.

Green Hydrogen Global Market Report 2021 – By Technology (Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer), By Application (Power Generation, Transport), By End-Use Industry (Petrochemicals, Food And Beverages, Medical, Chemical, Glass), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides green hydrogen market overview, forecast green hydrogen global market size and growth for the whole market, green hydrogen global market segments, and geographies, green hydrogen global market trends, green hydrogen market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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Source: EIN Presswire