The global market for Green hydrogen estimated at USD 2986.1 Million in 2023 is projected to reach a revised size of USD 4238.1 Million by 2030, growing at a CAGR of 5.23% over the period 2023-2030.
Market Overview:
The global market for Green hydrogen estimated at USD 2986.1 Million in 2023 is projected to reach a revised size of USD 4238.1 Million by 2030, growing at a CAGR of 5.23% over the period 2023-2030.
The green hydrogen market has emerged as a pivotal player in the global shift towards sustainable energy solutions. Green hydrogen is produced through electrolysis, utilizing renewable energy sources like wind or solar power. This method distinguishes it from conventional hydrogen production, which often relies on fossil fuels. The market is witnessing robust growth as governments, industries, and consumers increasingly recognize the importance of decarbonizing energy systems. Green hydrogen is gaining prominence as a clean and versatile energy carrier with applications across industries such as transportation, manufacturing, and energy storage.
Top Key Players Covered in the Green Hydrogen Market :
CJ CheilJedang Corp. (South Korea), Way Fong (China), General Mill Inc. (U.S), Sanquan Food Co. Ltd (China), Ajinomoto Co. Inc. (Japan), Hakka (Australia), Day-Lee Foods Inc.(U.S), Wei Chuan U.S.A. Inc. (Taiwan), Sanquan Food Co. Ltd (China), Kungfood (New Zealand ), Youngizine Foods LLP (India), Synear(China), Nomad Dumplings LLC (USA),Fly By Jing (USA), Chen Hsiang Food (Taiwan), KIITOSS FOODS PVT. LTD. (India), Haitai Confectionery and Foods Co. Ltd. (Japan), Wei-Chuan U.S.A. Inc. (China), Yutaka (Japan), Prime Food Processing Corp. (USA)
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Market Driver:
A significant market driver is the increasing global commitment to decarbonization and the transition towards renewable energy. Governments worldwide are implementing ambitious climate goals, and green hydrogen plays a crucial role in achieving these targets. As regulations tighten and environmental awareness rises, industries are under pressure to adopt sustainable practices. The demand for green hydrogen is propelled by its potential to provide a clean and scalable energy solution, thereby driving the shift towards a low-carbon economy.
Market Opportunity:
An enticing market opportunity lies in the development of a comprehensive green hydrogen infrastructure. As the demand for green hydrogen rises, there is a growing need for efficient production, storage, and distribution systems. Companies involved in the development of electrolyzers, hydrogen storage technologies, and transportation solutions stand to benefit. Additionally, the integration of green hydrogen into existing industrial processes and the creation of hydrogen hubs can significantly enhance its market penetration. The opportunity to build a robust and interconnected green hydrogen ecosystem presents itself as a key avenue for market growth.
Segmentation Analysis Of The Green Hydrogen Market
By Technology
By Source
By Application
By End-use
By Feedstock
By Distribution Channel
By Region
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Nov 17, 2023