The latest report by MarkNtel Advisors, titled “Green Hydrogen Market Report By Category (Shaving [Shaving Foam, Cream & Gel, After Shave Lotion, Razor Blade, Electric Product], Skin Care [Face Care, Body Care], Hair Care [Shampoo, Conditioner, Oil, Others], Fragrance [Deodorants, Perfume]), By Price Category (Premium, General), By Sales Channel (Offline, Online) others, and Region 2024-2030”, offers a comprehensive analysis of the industry, which comprises insights on the Green Hydrogen Market research report.
What is the market outlook for Green Hydrogen?
The Green Hydrogen Market size is estimated to grow at a CAGR of around 51.23% during the forecast period 2024–30.
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Major Companies Operating in the Green Hydrogen Industry:
Air Liquide, Linde, Air Products, GAIL Limited, Shell Plc, TotalEnergies, Adani Group, Other Potential Players
Green Hydrogen Market Report Segmentation:
By Technology
-Proton Exchange Membrane Electrolyzer
-Alkaline Electrolyzer
-Solid Oxide Electrolyzer
-Others
- The Proton Exchange Membrane (PEM) Electrolyzer is expected to capture a notable share of the Green Hydrogen Market in the coming years
By Energy Source
-Solar
-Wind
-Other Renewable Sources
By End Users
-Power Generation & Energy Storage
-Automotive & Transportation
-Industrial Feedstock
–Refineries & Petrochemicals
–Steel & Cement Manufacturing
–Others (Food & Beverage, etc.)
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Global Green Hydrogen Market Opportunity: Automotive to Become a Lucrative Potential Area
In the long term, the automotive sector has an enormous opportunity for implementing green hydrogen as an alternative to phase out the usage of fossil fuels, and can also become an alternative to lithium-ion battery-based systems for mobility applications. The advent of electric vehicle (EVs) demands huge investment in building charging infrastructure plus challenges about its range.
If the costs related to green hydrogen are reduced, the automakers, including trucks, heavy vehicles, forklifts, cars, etc., could utilize green hydrogen for powering vehicles with zero carbon emissions and generate electricity on the go. In addition, top green hydrogen companies, like General Motors (GM), Hyundai, Honda, and Toyota, among several others, have shown keen interest in integrating green hydrogen in Electric Vehicles (EV) and Hydrogen-based Fuel Cell Electric Vehicles (FCEVs). For instance:
In 2023, Honda announced its plans to sell a new fuel-cell electric vehicle in Japan and North America starting in 2024. The FCEV would be equipped with a next-generation fuel cell system codeveloped with US carmaker General Motors.
Therefore, the automotive industry holds colossal opportunities for green hydrogen and would become a lucrative area of investment for automakers in the coming years.
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