Best Prospects in the Green Hydrogen Market and Strategies for growth – Includes Green Hydrogen Market Size
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Major Players in green hydrogen market are Linde, Siemens Energy AG, Air Liquide, Air Products and Chemicals, Inc., and Royal Dutch Shell plc.
TBRC’s green hydrogen market report based on extensive research will assist you in seamlessly devising your approaches in order to match key market player strategies.
The green hydrogen market is expected to reach from $0.69 billion in 2021 to $5.68 billion in 2026 at a rate of 52.3%. The global green hydrogen market size is then expected to grow at a CAGR of 40.9% from 2026 and reach $31.59 billion in 2031.
Western Europe was the largest region in the global green hydrogen market
The green hydrogen market consists of sales of hydrogen-based fuel by entities (organizations, sole traders, and partnerships) that are produced from electrolyzing water by using electricity. Green hydrogen gas is created by dividing water into hydrogen and oxygen using an electrolyzer that can be powered by renewable energy sources. Green hydrogen is environmentally friendly and can be stored and converted back to energy or heat when required.
The rapid growth in investments in renewable power generation capacities is expected to drive the green hydrogen market during the forecast period.
Companies in the green hydrogen market are focusing on the implementation of artificial intelligence and machine learning to transform data into business intelligence. The newly introduced terminology AIoT i.e., Artificial Intelligence of Things is also adopted by companies operating in the market as it enables the optimization and automation of systems through enhanced data management and analytics. Predictive maintenance allows manufactures to identify system faults quickly as well as faster failure restores at critical points. AI technology stores and processes the data collected from renewable plants and hydrogen production facilities and enables the real-time maintenance and identification of an ideal maintenance schedule through predictive diagnostics. AI can distribute as well as store energy intelligently, therefore, balancing generation and consumption locally. This functionality of AI leads to increased efficiency in the grid and can reduce costs for consumers. Due to such critical benefits of AI, companies in the green hydrogen market are also implementing this technology.
TBRC’s Green Hydrogen Market Report Segments:
By Technology: Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer
By Application: Power Generation, Transport, Other Applications
By End User Industry: Petrochemicals, Food And Beverages, Medical, Chemical, Glass, Other End-Users
By Geography: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
The Green Hydrogen Market Report 2022–Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides an overview of the green hydrogen market globally and regionally, analyzes and forecasts market size, share, green hydrogen market players, green hydrogen market segments, leading competitor revenues, profiles and market shares.
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