Dublin, Feb. 29, 2024 (GLOBE NEWSWIRE) -- The "Green Hydrogen Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for Green Hydrogen Market, 2024 to 2034 is forecast to surpass US$3.2 billion in 2024, with strong revenue growth through to 2034.
The global green hydrogen market is experiencing significant growth, driven by a surge in demand for clean energy solutions and a commitment to reduce carbon emissions. Green hydrogen, produced through renewable energy sources, is gaining prominence as a key player in the transition to sustainable and low-carbon energy systems.
The market is primarily propelled by increasing environmental concerns and the need for decarbonization across various industries. Government initiatives and policies advocating green energy solutions, along with a growing emphasis on renewable sources, act as substantial drivers for the green hydrogen market. Additionally, rising investments in research and development contribute to technological advancements in production methods, fostering market growth.
The market presents promising opportunities as countries strive to meet ambitious renewable energy targets. The expanding applications of green hydrogen in sectors such as transportation, industry, and power generation offer lucrative prospects. Collaborations between governments and private entities to develop robust hydrogen infrastructures further enhance growth opportunities. Moreover, the potential for international trade in green hydrogen provides avenues for market expansion.
Despite the positive trajectory, the green hydrogen market faces challenges related to high production costs and the need for substantial initial investments. Infrastructure development, including storage and transportation, poses logistical challenges. Additionally, the intermittent nature of renewable energy sources, a crucial input for green hydrogen production, presents challenges in ensuring consistent and reliable supply.
Key Market Dynamics
Market Driving Factors
- Green Hydrogen Offers a Decarbonization Solution Driving the Market Growth
- Green Hydrogen and the Digital Transformation of the Energy Industry Driving the Market Growth
- The Green Hydrogen Market is Fuelled by its Contribution to Grid Stability and its Role in Providing Innovative Energy Storage Solutions
- Wide Application of Green Hydrogen Driving the Market Growth
Market Restraining Factors
- Limited Understanding of the Design Practices and unskilled Labour can restrain the Market Growth
- Energy Losses Hinder the Market Growth
- The Cost of Green Hydrogen is Higher Than Conventional Energy Options, Posing a Significant Financial Constraint
Market Opportunities
- Governments Worldwide are Implementing Policies and Incentives to Promote the Adoption of Green Hydrogen
- Technologies that are Accelerating the Green Hydrogen Revolution Opportunities for the Market Growth
- International Climate Agreements Opportunities for the Market Growth
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising green hydrogen prices and recent developments.
Segments Covered in the Report
Market Segment by Component
- Hardware
- Software (Digital)
Market Segment by Value Chain
- Production
- Storage
- Transport
Market Segment by Renewable Source
- Wind Energy
- Solar Energy
- Geothermal
- Hydropower
Market Segment by Production Method
- Alkaline Electrolysis
- Proton Exchange Membrane (PEM) Electrolysis
- Solid Oxide Electrolysis
- Steam Methane Reforming (SMR)
- Biomass Gasification
Market Segment by Application
- Refining
- Steel Production
- Glass Industry
- Electronics Industry
- Food Processing
- Other Applications
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles and for some of the leading companies in the Green Hydrogen Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- Air Liquide
- Air Products and Chemicals, Inc
- Cummins
- Engie
- Guangdong Nation-Synergy Hydrogen Power Technology Co., Ltd.
- H&R Olwerke Schindler
- Lhyfe
- Linde
- Nel ASA
- Orsted A/S
- Siemens Energy
- Toshiba Energy Systems & Solutions
- Uniper
- Wind to Gas Energy
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2034 for Green Hydrogen Market, 2024 to 2034 Market, with forecasts for component, value chain, renewable source, production method, and application, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Green Hydrogen Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, Norway, Denmark, Netherlands, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Green Hydrogen Market, 2024 to 2034.
For more information about this report visit https://www.researchandmarkets.com/r/p3gvrc
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