Renewable Energy

Clean Hydrogen Market Growth Accelerated By Green Technology Adoption

Leena Shedmake

Clean Hydrogen Market Growth Accelerated By Green Technology Adoption

Clean hydrogen plays a major role in enabling the transition to a green energy system by providing emissions-free fuel that can support applications from transportation to power generation. Used in fuel cells and turbines, hydrogen holds great promise to help decarbonize numerous hard-to-abate sectors. When produced through electrolysis using renewable energy sources, hydrogen becomes a carbon-free carrier that can store and transport renewable power over long distances and time periods. The technology allows excess electricity generated by intermittent renewable sources like solar and wind to be transformed into hydrogen, circumventing issues related to renewable energy intermittability.

The global clean hydrogen Market is estimated to be valued at US$ 5.02 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The adoption of green technology has accelerated significantly over the past few years as countries aim to transition towards more sustainable energy models and reduce emissions. Government initiatives promoting clean hydrogen have played a major role in boosting technology adoption. For instance, the European Union's Hydrogen Strategy aims to install at least 6 GW of renewable hydrogen electrolyzers by 2024 and 40 GW of renewable hydrogen electrolyzers by 2030. Likewise, the US Department of Energy's H2@Scale vision targets the installation of 5 GW of renewable hydrogen production by 2026. Such enabling policies are encouraging private sector investment in green hydrogen production facilities utilizing renewable energy. As costs fall further with economies of scale, hydrogen is expected gain wider usage across hard-to-abate sectors accelerating its market growth over the forecast period.

Segment Analysis

The global clean hydrogen market is segmented on the basis of production method and application. Based on production method, the market is segmented into steam methane reforming, water electrolysis and others. Among these, the water electrolysis segment is expected to hold the largest market share during the forecast period. Water electrolysis leads to zero-carbon emissions and utilizes renewable sources of energy like solar and wind energy for the production of hydrogen, making it a more eco-friendly and sustainable method compared to other production methods.

Key Takeaways

The Global Clean Hydrogen Market Growth is expected to witness high during the forecast period of 2024-2031. The market size is projected to grow from US$ 5.02 billion in 2024 to US$ 15.37 billion by 2031, registering a CAGR of 12%.

Regional analysis:

Europe is projected to dominate the global clean hydrogen market during the forecast period.

The region has supportive government policies and initiatives to promote the production and use of clean hydrogen. Major European countries like Germany, France and the UK are increasingly investing in electrolyzer manufacturing facilities and hydrogen refueling stations to strengthen their clean hydrogen infrastructure.

Key players operating in the clean hydrogen market are Amyris, BioAmber, Borregaard, Codexis, Deinove, Evolva, Fermentalg, Gevo, Global Bioenergies, Metabolic Explorer, Novozymes, Solazyme, Corbion, ADM, DuPont, Eucodis Biosciences GmbH, Koninklijke DSM NV, BASF SE, Evonik Industries AG. BASF SE is one of the leading players in clean hydrogen production, utilizing steam methane reforming with carbon capture to produce hydrogen.

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Leena Shedmake

Clean Hydrogen Market Is Estimated To Witness High Growth Owing To Increasing Demand for Sustainable Energy Solutions

Anjali CMI 2023-10-04

The global clean hydrogen market is estimated to be valued at US$ 81 billion in 2021 and is expected to exhibit a CAGR of 14. Economic: The clean hydrogen market is experiencing significant economic growth and is expected to witness a high CAGR of 14. Social: The social aspect of the clean hydrogen market emphasizes the increasing awareness and demand for sustainable energy solutions among consumers. Key Takeaways: The global Clean Hydrogen Market Demand is expected to witness high growth, exhibiting a CAGR of 14. Key players operating in the clean hydrogen market include Linde Plc, Air Liquide, Engie, Uniper Se, Air Products Inc, Clean Hydrogen System, Cummins Inc.

Key Players Driving the Hydrogen Market

Larry Paige 2023-08-02

This report identifies the key players driving the hydrogen market and explores their contributions, innovations, and strategies to advance hydrogen technologies worldwide. Governments and Policymakers:**Governments play a pivotal role in driving the hydrogen market through policy support, incentives, and regulatory frameworks. Automotive Manufacturers:**Automotive manufacturers are key players in the hydrogen market, focusing on fuel cell vehicles as an alternative to conventional internal combustion engine vehicles. **Conclusion:**The hydrogen market is being driven by a diverse group of key players from governments and policymakers to energy companies, automotive manufacturers, industrial players, hydrogen producers, technology developers, and international alliances. As the hydrogen market continues to grow, collaboration among these key players will be crucial in overcoming challenges and unlocking the full potential of hydrogen as a clean and versatile energy carrier.

Clean Hydrogen Market Demand Analysis, Statistics, Industry Trends And Investment Opportunities To 2028

kashish Singh 2023-04-14

The global Clean Hydrogen Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2022-2028. Get more information on "Global Clean Hydrogen Market Research Report" by requesting FREE Sample Copy at https://www. The growing interest in hydrogen fuel cell vehicles is another driver for the clean hydrogen market, as these vehicles require a reliable and sustainable supply of clean hydrogen to operate. Browse Global Clean Hydrogen Market Research Report with detailed TOC at https://www. Purchase Complete Global Clean Hydrogen Market Research Report at https://www.

From Rocks to Watts: Extracting White Hydrogen as a Clean & Economical Energy Solution

Ingenious E-Brain Solutions 2023-11-02

While technology developers and solution providers around the world are currently focusing on technological advances in the blue and green hydrogen production space, IeB analysts anticipate that white hydrogen production will see rapid and significant growth in the near future. As a result, geologic hydrogen production has received a lot of interest recently, with industry leaders and governments looking into the potential opportunities it offers. In the early 20th century, while exploring oil wells in South Australia, high concentrations of hydrogen gas were found. On the contrary, The earth naturally replenishes up to 23 Mt/year or 30% of today’s annual hydrogen demand through oxidation-reduction processes involved in geologic hydrogen production. But unlike other forms of hydrogen, white/ geologic hydrogen—sometimes called native, gold, or natural hydrogen—is considered significantly cost-effective and is sourced through and produced via diversified approaches.

Hydrogen Market To Grow At Highest Pace By 2030 Driven By Rising Demand For Clean Energy Applications

Poonam 2024-02-08

Rapid technological advancements and supportive government policies and initiatives are further encouraging companies to invest in hydrogen energy production and storage systems. The key demand for hydrogen stems from increasing focus on decarbonization of industries and transition towards clean energy. Initiatives like India's Hydrogen Energy Mission aim to strengthen clean hydrogen ecosystem and create new demand centers. Impact of COVID-19 on Hydrogen Market Growth The COVID-19 pandemic has negatively impacted the hydrogen market worldwide. Geographical Regions with Highest Value for Hydrogen Market In terms of value, currently Europe accounts for the largest share in the global hydrogen market concentrating close to 40% revenues.

Hydrogen Use Cases

yogita mali 2023-10-20

Chemicals and Industry:Indeed, hydrogen is a versatile and important element in the chemicals and industry sector, and it offers several lucrative use cases. Here's why hydrogen is essential in methanol production: I. Here's why hydrogen is essential in petroleum refining: I. Companies and investors involved in the development of hydrogen refueling stations and distribution networks can capitalize on the growing demand for hydrogen fuel. The establishment of hydrogen refueling stations and distribution networks can have a positive economic impact on the regions where they are developed.

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