Clean Hydrogen Market: Current Analysis and Forecast (2021-2027)

Clean Hydrogen Market: Current Analysis and Forecast (2021-2027)

Clean Hydrogen Market was valued at US$ 867 million in 2019 and is expected to grow at a significant CAGR of 15.7% during the forecast period (2021-2027). Clean Hydrogen could help us achieve the net zero goal as it helps in carbon sequestration and generation of clean hydrogen. Clean hydrogen is valuable for its ability to be stored and used as clean fuel without direct GHG gas or pollutants emissions and there are a wide variety of clean production pathways for its production. Hydrogen gas can be of three types: grey, blue, and green, depending on its production pathway. Grey hydrogen is the most carbon intensive and is based on fuel processes and hydrocarbon feedstock which is typically natural gas used for steam-methane-reforming (SMR) or autothermal reforming and sometimes coal gasification. Lower carbon intense pathways are blue and green hydrogen. Blue Hydrogen is a conventional natural gas-based hydrogen production process (SMR or ATR) using carbon capture, whereas green hydrogen is the production of hydrogen by water electrolysis, so the electricity is sourced from zero carbon (renewable) energies.

Key factors influencing the growth of this market include increasing awareness about carbon alternatives among people. There is a tremendous increase in greenhouse gases production globally, especially due to industrialization. This leads to the emission of the greenhouse gases like methane, carbon dioxide, nitrous oxide which are responsible for the rising global temperatures. Since the last century, the global temperature of the planet has gone up by 1%. The highest carbon emitters include United States, China, The European Union, and Russia, which together account for 65% of the total carbon emissions. With the advent of Hydrogen Gas, it is the alternative to many applications that currently rely on fossil fuels including transportation, power generation, building, industry, and waste. All these make clean hydrogen a good alternative to fossil fuels soon and thus its expected market growth.

Linde plc, Air Liquide, Engie, Uniper SE, Siemens Energy, Air Products Inc, Green Hydrogen System, Cummins Inc, Toshiba Energy System & Solution Corporation, and Nel ASA are some of the prominent players operating in the Clean Hydrogen market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Technology, PEM Electrolyzer segment holds the major share”

Based on technology, the clean hydrogen market is segmented into Alkaline Electrolyzer, PEM Electrolyzer, and SO Electrolyzer. Amongst technology, the PEM Electrolyzer segment of the clean hydrogen market was valued at US$ XX million in 2020 and is likely to reach US$ XX million by 2027 and is growing at a CAGR of XX% from 2021-2027. PEM electrolysis can change power inputs in a more dynamic and responsive manner than the alkaline electrolyzer. The bipolar plates with flow channels, membrane electrode assembly and current collectors are the key components of the PEM electrolyzer.

“Amongst End-User, Transport segment holds the major share”

Based on end-user, the clean hydrogen market is segmented into Transport, Power Generation, and Industrial. Amongst end-user, transport accounted for a market valuation of US$ XX million in 2020 and is expected to reach US$ XX million by the year 2027, at a CAGR of XX% over the analyzed period. Hydrogen cars are becoming popular in some countries, but battery-operated electric vehicles are increasing in number worldwide.

“North America represents one of the largest markets of Clean Hydrogen market”

For a better understanding of the market dynamics of the Clean Hydrogen market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World. North America dominated the market and grabbed around XX% market share owing to technological advancements and changing government policies.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry