Green Hydrogen Market Statistics, Growth Insights & Predictions To 2030
Extensive investment across both private & public sectors to advance green hydrogen production technologies will boost the industry trends. Robust research and development activities have enabled the introduction of innovative & efficient solutions for clean hydrogen production. There could be increased cooperation among major industry players to expand the production of hydrogen and other green fuel options. In August 2022, Amazon announced that its USD 2 billion Climate Pledge Fund will be used to accelerate efforts to decarbonize global operations through green hydrogen.
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Wind and solar power generation facilities are utilized to produce green hydrogen. Solar energy is among the most adopted renewable energy sources in developing regions. According to the IEA, the installed capacity for solar PV in Africa could be over 125 GW by 2030, representing a substantial portion of the total power generation capacity on the continent. This indicates a significant potential for clean hydrogen producers to help countries in and around the region move towards a greener future.
As per the report, the green hydrogen industry is fragmented into solid oxide, PEM and alkaline, in terms of technology. The solid oxide technology segment is anticipated to record over USD 950 million growth between 2022-2030. Shifting focus toward the adoption of high efficiency & low-cost solutions and a rising inclination toward the commercialization of electrolyser technologies will boost deployment of solid oxide technologies. Features like high current density, lesser requirement of auxiliary components and low maintenance in terms of electrode corrosion will drive the adoption of this technology.
The report cites that Asia Pacific green hydrogen market size is projected to record a CAGR of over 60% through 2022-2030. Robust investments are being made towards the development of new clean hydrogen projects. In 2022, Global private equity (PE) major KKR announced that it will invest USD 450 million in Hero Future Energies (HFE). The investment will support HFE’s efforts to expand renewable energy capabilities and capacity across technologies such as solar, wind, and green hydrogen. In addition, favourable government measures and initiatives to reduce carbon emissions across the region will stimulate the industry outlook.
To browse this report titled, “Green Hydrogen Unit Market by Growth Insight, Competitive Analysis and Regional Statistics to 2030”.
The competitive landscape of the green hydrogen industry is inclusive of companies such as Siemens Energy, Plug Power Inc., Air Liquide, Linde plc, Cummins Inc., Air Products Inc., Iberdrola, S.A., Hiringa Energy Limited, Engie, Lhyfe, GH2, CWP Global and ACME amongst others. These firms are making business alliance with other related firms to support product development.
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