PUNE, India, May 30, 2024 /PRNewswire/ -- Prismane Consulting, an esteemed consultancy specializing in Strategy Reports and Market Studies within the domains of Petrochemicals, Chemicals, Refining, Polymers & Plastics, and Materials, is pleased to announce the release of its latest report titled "Global Green Hydrogen Market, 2024" This comprehensive market analysis delves into consumption dynamics and supply trends, providing valuable insights into the global Green Hydrogen market, with a particular emphasis on major countries and their consumption patterns across diverse applications.
The report presents segmented demand data by technology into Alkaline Electrolyzer, Polymer Electrolyte Membrane (PEM), Solid Oxide Electrolyzer, and Others. By renewable source, the market is segmented into Wind Energy, Solar Energy, and Others (geothermal, hydropower, etc.). The report also provides demand data by application, covering Fuel Cell, Power Generation, Ammonia & Other Chemicals, Steel Manufacturing, and Others (heating/blending in natural gas grid, mining, refining, power to X, etc). Both volume and value market data for each technology, source, and application at the country and regional levels are also outlined in the report.
The analysis provided in the study considers a range of crucial factors, including macroeconomic elements such as population, GDP, and global economic integration, coupled with economic and energy forecasts. Additionally, the report delves into industry and policy advancements, offering insights into end-use sectors and application markets. Detailed reasoning and assessment, comparative analysis, informative commentary, market dynamics, latest trends, and strategic considerations & recommendations are provided in the report.
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Green hydrogen refers to hydrogen gas produced via electrolysis, using renewable energy sources such as wind, solar, or hydropower. Unlike conventional methods of hydrogen production, which often involve fossil fuels and release carbon emissions, green hydrogen production is environmentally friendly and sustainable. The decarbonization potential of green hydrogen has encouraged countries across the world to compete in leading the market in terms of production & usage. From ambitious targets to large scale projects, the green hydrogen market periodically sees new announcements from time to time. The EU, for instance, has under its proposal REPowerEU, set an ambitious target to achieve a supply of 20,000 kilo tons of green hydrogen by 2030 - 10,000 kilo tons produced, and 10,000 kilo tons imported.
Several electrolyzer-based projects are now currently operating across the world, with cumulative capacity exceeding 300 MW. Major producers operating large-scale electrolyzer-based projects include Air Liquide, Nel ASA, Shell, Honeywell UOP, REFHYNE, and Baofeng Energy. New projects from producers such as Fertiglobe, ScottishPower, Enel S.p.A., Engie SA, Linde, bp, and Kawasaki, meanwhile, are slated to add in the forthcoming years. While the current capacity is insufficient to significantly reduce carbon emissions, it is a noteworthy development towards the acceleration of the technology. Supply chain development, demand, and technology will determine the future course of the green hydrogen market over the forecast period.
While the transition towards sustainability aided by favourable legislative policies are key demand drivers, the green hydrogen market also faces major challenges ahead: high production costs and slow end-use adoption are bottlenecks that continue to weigh on the growth. The market study analyses these impeding factors in detail and also presents strategic recommendations for producers to navigate the landscape.
Key Questions Addressed in the Global Green Hydrogen Market Study:
- What is the current size of the Green Hydrogen Market?
- How is the Green Hydrogen market evolving?
- What is the projected size of the Green Hydrogen Market in 2050, and at what rate will it grow?
- What factors drive, challenge, or restrain the growth of the Green Hydrogen Market?
- What opportunities lie for the Green Hydrogen Market in the future?
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About Prismane Consulting:
Prismane Consulting is a unique global research & consulting firm serving businesses in the field of Chemicals, Energy and Environment offering in-depth technical & strategy reports and consulting services. Our Strategy and Market study reports cover information on complete value chains, supply- demand analysis, trade, supplier profiles, target markets, business opportunity assessments, new technologies and emerging trends. These studies analyse historical trends and future prospects like major areas of growth, investments, profitability, and other emerging opportunities for companies. Special features in the strategy reports include variation in product pricing resulting from change in feedstock, raw material, input, and other associated costs. Our methods of research and analysis can be made to tailor fit any research or consulting requirements to improve performance & services.
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Tejas Shah
Prismane Consulting Private Limited
tejas.shah@prismaneconsulting.com
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