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- 254 Market data Tables
- 63 Figures
- 323 Pages and in-depth TOC on “Green Hydrogen Market – Global Forecast to 2027″
This report also provides a comprehensive analysis of the companies listed below:
Linde (Ireland), Guangdong Synergy Hydrogen Power Technology (China), Siemens (Germany), H&R Olwerke Schindler (Germany), Cummins and Enbridge Gas (Canada), Wind to Gas Energy GmbH & Co. KG (Germany), Toshiba (Japan), and Nel (Norway)
COVID-19 had a stagnating effect on the green hydrogen market. Projects under development continued to gather investments. Many European and Asian countries have continued to announce new projects and feasibility studies with different technologies. The major impact of COVID-19 in the green hydrogen market was that it delayed the projects as the supplies for raw materials got disrupted due to lockdowns. The market for green hydrogen has finally reached the pre-commercialization level and is ready to play a vital role in decarbonizing the planet.
Alkaline electrolyzer-based green hydrogen comprises a major share of the green hydrogen market in terms of value.
Europe is expected to account for the largest share in the green hydrogen market during the forecast period.
Europe is the largest market for green hydrogen globally. Currently, less than 2% of Europe’s energy consumption comes from hydrogen. The European Green Deal aims at reducing greenhouse gas emissions and preparing Europe’s industry for a climate-neutral economy. In July 2020, the European Commission published the EU hydrogen strategy. It was designed with a phased approach, and its goal is to increase hydrogen shares from less than 2% up to 13%-14% by 2050. The priority is to develop clean, renewable hydrogen with cumulative investments between Euro 180 and Euro 470 billion in Europe by 2050. A green hydrogen economy will also create 1 million new jobs for highly qualified personnel in Europe by 2030 and up to 5.4 million by 2050. The European Clean Hydrogen Alliance was also announced as part of the new industrial strategy for Europe in March 2020 and launched on 8 July 2020, at the same time as the EU hydrogen strategy. Major automotive manufacturers in the European region, such as Porsche, Ducati, BMW, and Audi, are focusing on the downsizing concept of car engines and manufacturing lightweight and fuel-efficient engines, which will also drive up the growth of the green hydrogen market.