Pune, India, Oct. 14, 2021 (GLOBE NEWSWIRE) -- The global green hydrogen generator market size is expected to reach USD 325.1 million by 2028, exhibiting a CAGR of 5.6% between 2021 and 2028. The surging demand for fuel cell-based electric vehicles and buses will propel healthy growth of themarket, states Fortune Business Insights, in a report, titled “Green Hydrogen Generator Market, 2021-2028.” The market size stood at USD 200.9 million in 2020.
Order Bagged by Next Hydrogen for Third Electrolyzer to Incite Development
Canadian Tire Corporation, a Canadian leader that offers solutions to automotive, hardware, sports, leisure, and housewares sectors, announced that it has acquired an electrolyzer from Next Hydrogen Corporation. The newly developed electrolyzer called (Model NH-300) will generate clean hydrogen from H2O while maintaining hydrogen energy for Canadian Tire’s material management procedures. Next Hydrogen, a major producer of electrolyzers, created a trailblazing system to cater to the performance standard of Canadian Tire. The contract will involve a daily processing capability of 650 kilogrammes of hydrogen, a service life that is more than twice as long as the industry regular for electrolyzers, and a service disposal of more than 95% This energy strategy for supplying an enormous balance, object resources managing fleet thus attaining a noticeably low carbon emission produces hydrogen fuel by electrolysis, leveraging Ontario's low carbon electric grid.
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The Report Lists the Key Players in this Market:
- Nel (Proton On-Site) (Norway)
- Asahi Kasei (Japan)
- Hydrogenics (US)
- Areva H2gen (France)
- Shandong Saikesaisi Hydrogen Energy Co., Ltd. (China)
- Teledyne Energy Systems (US)
- Siemens AG (Germany)
- Kobelco Eco-Solutions (Japan)
- McPhy (France)
- Yangzhou Chungdean Hydrogen Equipment Co., Ltd (China)
- Suzhou Jingli (China)
- TianJin Mainland (China)
- ITM Power (UK)
- 718th Research Institute of CSIC (China)
- Idroenergy Spa (Italy)
- ErredueSpA (Italy)
- MVS Engineering (India)
- GreenHydrogen .dk (Denmark)
- Enapter (Italy)
- Giner Inc. (US)
- ShaanXiHuaQin (China)
- Next Hydrogen (Canada)
- H-Tec Systems GmbH (Germany)
- Beijing Zhondian (China)
Report Scope & Segmentation -
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 5.6 % |
| 2028 Value Projection | USD 325.1 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 200.9 Billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 250 |
| Segments covered | Type;Application;Regional |
| Growth Drivers | Rising Investments in Europe for Green Hydrogen Economy to Favor Growth. Technological Advancement in Green Hydrogen Production to Accelerate Business |
| Pitfalls & Challenges | High Capital Cost of Green Hydrogen Production & Storage to Hamper the Market Growth |
Introduction of Innovative Methods for Green Hydrogen production to Stimulate Market
Hydrogen is currently generated using various methods, including water electrolysis, steam methane reforming, partial oil oxidation, and coal gasification. Water electrolysis is the most common method for producing green hydrogen. Hydrogen and oxygen are generated by water electrolysis using renewable energy sources such as solar power and wind. Hence, prominent companies are investing in advanced technologies to produce green hydrogen extensively, in turn, boosting the green hydrogen generator market growth. For instance, Air Products and ThyssenKrupp AG signed a Cooperation Agreement (SCA) for the extensive supply of green hydrogen. Through this contract, ThyssenKrupp AG will deliver its technology, equipment, and technical services for Air Product’s water electrolysis plants.
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Power Plants to Hold the Largest Share
Based on type, the market is categorized into traditional alkaline electrolysis, PEM electrolysis, and solid oxide electrolysis.
Based on application, the global green hydrogen generator industry is categorized into power plants, industrial gases, electronics & photovoltaics, steel plants, and others. The power plant segment is expected to account for a significant share during the forecast period owing to the utilization of green hydrogen for the production of ammonia, methanol, and steel at power plants
Based on geography, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Increasing Refinery Operations to Support Development in Asia Pacific
- The growing demand for clean fuel from countries such as China, India, Japan, and South Korea will spur opportunities for the Asia Pacific market.
- The increasing production and sales of electric cars will push growth in Europe.
- The favorable government initiatives for producing green hydrogen in the US will boost North America’s green hydrogen generator market share.
- Rising focus on a carbon-free environment will aid expansion in the Middle East and Africa.
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De Nora to Account for an Enormous Market Share
De Nora is a leader and supplier of alkaline water electrolysis systems for the manufacture of green hydrogen. The organization is a pioneer in the alkaline and proton exchange membrane (PEM) water electrolysis group, having installed over 3,000 efficient and cost-effective systems worldwide. The company is focused on partnerships, collaborations, and agreements to strengthen its position in the green hydrogen generator industry. For instance, on April 13, 2018, De Nora and The Belgian company AGFAsigned a technological contract. Under this agreement, De Nora will integrate AGFA’s diaphragm separators with its electrodes for a novel package. The designed electrodes will be used as a bespoke solution for hydrogen and oxygen production through alkaline water electrolysis.
Key Development:
October 2020: GTT announced the acquisition of Areva H2Gen. Areva H2Gen is involved in the conception and assembly of electrolyzers for the manufacturing of green hydrogen.
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Table Of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Green Hydrogen Generator Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Green Hydrogen Generator Market Analysis (USD Million) (MW), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Traditional Alkaline Electrolysis
- PEM Electrolysis
- Solid Oxide Electrolysis
- Market Analysis, Insights and Forecast – By Application
- Power Plants
- Steel Plants
- Electronics & Photovoltaics
- Industrial Gases
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Green Hydrogen Generator Market Analysis (USD Million) (MW), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Traditional Alkaline Electrolysis
- PEM Electrolysis
- Solid Oxide Electrolysis
- Market Analysis, Insights and Forecast – By Application
- Power Plants
- Steel Plants
- Electronics & Photovoltaics
- Industrial Gases
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Green Hydrogen Generator Market Analysis (USD Million) (MW), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Traditional Alkaline Electrolysis
- PEM Electrolysis
- Solid Oxide Electrolysis
- Market Analysis, Insights and Forecast – By Application
- Power Plants
- Steel Plants
- Electronics & Photovoltaics
- Industrial Gases
- Others
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