News By Tag
News By Place
Follow on Google News
Green Hydrogen Market is forecast to reach 874.96 thousand tonnes by 2030 | ChemAnalyst
Green Hydrogen Market is expected to witness significant growth by reaching 874.96 thousand tonnes in 2035 and grow at a healthy CAGR of 32.34% during the forecast period until 2035.
Most of the hydrogen produced globally is through a process called Steam Reforming. This process uses a catalyst to react methane and steam, resulting in hydrogen, carbon monoxide and carbon dioxide. In a subsequent process, carbon monoxide, steam, and a catalyst react to produce more hydrogen and carbon dioxide. Pure hydrogen is extracted from the process leaving impurities and carbon-dioxide in the environment.
Government initiatives to reduce carbon emission in the environment create a huge potential for green hydrogen which is produced from renewable resources and can replace carbon-intensives hydrogen end uses such as industrial, transport, commercial and power sectors. Currently, less than 2% of total hydrogen produced accounts for green hydrogen production.
Technological Research & Development in various countries have already capitalized on manufacturing, distribution, storage, and end uses of Green Hydrogen across different sectors. The significant increase in demand for green hydrogen will create the subsequent need for considerable infrastructure to handle the production and delivery of green hydrogen. The shift in technology from conventional producing methods to greener technology is expected to be a huge hurdle in shifting to green hydrogen.
Green Hydrogen Market is segmented on the basis of technology, end-use, sales channel, and region. On the basis of technology, the market is segmented into Alkaline Electrolysis (AE), Solid Oxide Electrolysis (SOE), and Proton Exchange Membrane (PEM). Alkaline Electrolysis is a widely used technology and is expected to dominate the market in the forecast period as it is cost-effective and has a long operational life. Depending on several end-uses, the market is segregated into chemicals, power generation, heat generation, transportation fuel, steel manufacturing, and others. The power generation sector is expected to dominate the Green Hydrogen market in the forecast years.
Read Full Report Here: https://www.chemanalyst.com/
Major players operating in the Green Hydrogen market are Ballard Power Systems, Enapter, Green Hydrogen Systems, Engie, Hydrogenics, Nikola Motors, Plug Power, Shell, SGH2 Energy Global LLC, Siemens Gas and Power GmbH & Co. KG., and others. In India, GAIL Ltd., announced its plan in October 2021 to construct India's largest Green Hydrogen-production facility to boost its natural gas business with zero carbon fuel.