Green Hydrogen Market Analysis

Application (Power Generation, Transport)

The global green hydrogen market is segmented and analyzed for demand and supply by application into power generation, transport, and others. Out of the three applications of green hydrogen, the transport segment is estimated to gain the largest market share in the year 2037. The growth of the segment can be attributed to the increasing initiatives taken by the government to create a green hydrogen-based transport system. The world's most cutting-edge technology-developed Green Hydrogen Fuel Cell Electric Vehicle (FCEV) Toyota Mirai is made available in India as part of a pioneering project by the Ministry of Road Transport and Highways that intends to establish a Green Hydrogen-based ecosystem there. On the other hand, the rising adoption of fuel-cell electric vehicles is also expected to boost the segment growth. Green hydrogen is being used in transportation as an alternative to fossil fuels because of technology like the fuel cell.

Technology (Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer, Alkaline Electrolyzer)

The global green hydrogen market is also segmented and analyzed for demand and supply by technology into proton exchange membrane electrolyzer, solid oxide electrolyzer, and alkaline electrolyzer. Amongst these three segments, the proton exchange membrane electrolyzer segment is expected to garner a significant share in the year 2037. The growth of the segment is attributed to the high efficiency of PEM to produce a pure form of green hydrogen. This method has many advantages over traditional alkaline electrolysis that will make it easier to connect to the solar electricity grid in the future. Proton exchange membrane (PEM) electrolyzers are regarded as an innovative method for manufacturing hydrogen fuel utilizing renewable electricity. Moreover, with polymer serving as the electrolyte, PEM water electrolysis technology has a working current density that can reach 1-3 A/cm2, high electrolysis efficiency, the compact volume under the same power, and hydrogen purity that can approach around 99.999%. On the other hand, the alkaline electrolytic cell has poor efficiency and a working current density that is typically no higher than 0.6 A/cm2.

Our in-depth analysis of the global market includes the following segments: