Green Hydrogen Market Manufactures and Key Statistics Analysis 2020-2030

Green Hydrogen Market: Overview

Demand for sources of renewable energy is rising across the globe in order to lower carbon emission. Green hydrogen is one of the sources of renewable energy.
Green hydrogen is made from regenerative energy sources through water electrolysis. The water is separated into oxygen and hydrogen in an electrolyzer with the help of electric current and is distinguished from grey hydrogen obtained from fossil fuels (such as natural gas).
The chemical aspect of hydrogen is still underrated. Hydrogen is environment friendly, and can be stored and converted back into electricity or heat whenever required.
Currently, three types of electrolyzer technologies are used: alkaline (ALK) electrolyzer, proton exchange membrane (PEM) electrolyzer, and solid oxide electrolyzer. The proton exchange membrane electrolyzer technology is widely used across the globe.
Hydrogen can be stored and transported in different ways. These include pipelines, tankers, and small storage tanks.
The usage of green hydrogen can help reduce the dependence on fossil fuels and the expense on import of fuel

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Key Drivers of Global Green Hydrogen Market

Demand for green hydrogen has been increasing since the last few years, as it helps lower carbon footprint. It also helps meet the rising demand for power across the globe. Green hydrogen is a renewable source of energy. Thus, adoption of green hydrogen is anticipated to rise in the near future.
Increase in awareness about hydrogen as energy carrier is estimated to boost the global green hydrogen market in the near future

Green Hydrogen Market: Key Development

On May 20, 2020, SGH2 Energy Global LLC, a part of multinational company Solena Group, announced plans to build the world’s largest green hydrogen plant in Lancaster, California, the U.S. The facility would be constructed on a five acre site and use recycled mixed paper waste to produce up to 11,000 kilograms (24,251 pounds) of green hydrogen per day and 3.8 million kilograms annually. The company claimed that its technology lowers carbon emissions by two to three times more than alternative green hydrogen options.

Key Players Operating in Green Hydrogen Market

Major players operating in the global green hydrogen market are: