LONDON, Nov. 15, 2021 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the green hydrogen market, scaling up of technologies is an emerging trend in the market. Advanced analytics are used in the green hydrogen market, which can transform data into business intelligence with actionable insights. Analytics can provide corrective action recommendations to maximize yields for green hydrogen, churning, and learning through data from plants, tanks, and pipes. By forecasting the failures, energy losses can also be prevented. Kaiserwetter is one such company that is using analytics to address several green hydrogen challenges. Analytics can also be useful in providing blockchain solutions that can help in green hydrogen tracking.
For instance, in February 2021, Acciona, a Spanish firm that develops and manages infrastructure and renewable energy, has developed GreenH2chain, a blockchain-based platform that allows clients from all over the world to verify and visualize the complete green hydrogen value chain in real-time.
Major players in the green hydrogen industry are Air Liquide, Air Products and Chemicals Inc., Ballard Power Systems, Engie, Fuel Cells Works, Green Hydrogen Systems, Hydrogenics, Linde Plc, Nel Hydrogen, Nikola Motors, Plug Power Inc., Siemens Energy Global GmbH & Co. KG, Solena Group, Toshiba Energy Systems & Solutions Corporation, Enapter, ERGOSUP, Loop Energy Inc., and Tianjin Mainland Hydrogen Equipment Co. Ltd.
In July 2021, PowerTap Hydrogen Capital Corp., Canada-based hydrogen production and the dispensing fuelling company acquired a 49% stake in AES-100 Inc. for an undisclosed amount. The acquisition is expected to assure the rapid global deployment of PowerTap’s hydrogen refueling stations. AES-100 Inc. is a Canada-based green hydrogen technology company that is focused on fuel cells for the transportation industry.
The Business Research Company’s report titled Green Hydrogen Global Market Report 2021 - By Technology (Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer), By Application (Power Generation, Transport), By End-Use Industry (Petrochemicals, Food And Beverages, Medical, Chemical, Glass), COVID-19 Growth And Change covers major green hydrogen companies, green hydrogen market share by company, green hydrogen manufacturers, green hydrogen market size, and green hydrogen market forecasts. The report also covers the global green hydrogen market and its segments.
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The global green hydrogen market size is expected to grow from $0.58 billion in 2020 to $0.78 billion in 2021 at a compound annual growth rate (CAGR) of 33.8%. The growth of the green hydrogen market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The green hydrogen market is expected to reach $2.94 billion in 2025 at a CAGR of 39.4%.
Europe was the largest region in the green hydrogen market in 2020. The regions covered in the green hydrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The green hydrogen market consists of sales of hydrogen-based fuel by entities (organizations, sole traders, and partnerships) that are produced from electrolyzing water by using electricity. Green hydrogen gas is created by dividing water into hydrogen and oxygen using an electrolyzer that can be powered by renewable energy sources. Green hydrogen is environmentally friendly and can be stored and converted back to energy or heat when required.
The main types of technologies in green hydrogen are alkaline electrolyzer, proton exchange membrane electrolyzer, and solid oxide electrolyzer. Alkaline electrolyzers work by transporting hydroxide ions from the cathode to the anode through the electrolyte, with hydrogen created on the cathode side. It is used in power generation, transport, others and implemented in various verticals such as petrochemicals, food and beverages, medical, chemical, glass, others.
Green Hydrogen Global Market Report 2021 – COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide green hydrogen market overviews, green hydrogen market analyze and forecast market size and growth for the whole market, green hydrogen market segments and geographies, green hydrogen market trends, green hydrogen market drivers, green hydrogen market restraints, green hydrogen market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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