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Pune, Maharashtra, India -- 29/08/2022 -- Prismane Consulting has recently completed an extensive global study on the green hydrogen market and launched its new market model which covers a list of global capacities of green hydrogen including all on-purpose, by-product, and merchant capacities. The study also covers the analysis of capacities by various applications and technologies. Hydrogen supply is also analyzed based on the source of energy used for production.
The study offers market commentary revolving around several factors including, but not limited to Macro-economic factors like GDP, Population and World Economic integration, Economic & Energy Outlook, Industry & Policy Developments, end-use Industry/ Applications Markets, Reasoning & Analysis, Insightful Commentary, Comparative Analysis, Plants and project analysis, Latest Trends and market developments, Strategic Issues and Recommendations and Business Opportunity Assessment.
Green Initiatives, Carbon Zero Targets, and Sustainability to Accelerate Green Hydrogen Economy in the coming years
The world is witnessing a large potential for hydrogen, in terms of energy security and reducing environmental impact. Both developed and developing economies are working on new technologies to promote green hydrogen production and usage. Various new applications are being explored to push green hydrogen demand. It will be interesting to witness the changing market dynamics of hydrogen in the coming years. Global green hydrogen capacities seeing massive growth and are projected to reach more than 20000 kilo tons by 2032. During this period, investments in the market could surpass USD 600 billion. Increasing government interests from various countries are projected to drive capacity expansions in the hydrogen market. The developed and developing countries are stepping forward toward a sustainable energy economy and will provide a big push to the Green Hydrogen market.
"HyDeal Ambition" project in Europe with the target of supplying 3.6 million tons per year of Green Hydrogen throughout the continent. The project s goal is to reach 95 GW of solar capacity and 67 GW of electrolysis capacity by 2030. HyDeal Ambition is a platform combining 30 players which covers the complete supply chain of green hydrogen in the European market.
The global Green Hydrogen market has been segmented on the bases of segments as automotive, aerospace & marine, power industry, chemical industry, metal industry, and others (petrochemical, the housing industry, semiconductor, etc.). Europe is expected to lead the race in green hydrogen developments followed by Asia Pacific, North America, and other regions. The transportation (automotive, marine, Aerospace) segment is one of the fastest growing applications for Green Hydrogen. The power sector accounted for a significant share of the global demand in 2021. With certain sets of policies for the energy industry and increased environmental protection laws in most of the major countries of the world, the consumption of Green Hydrogen will rise during the long-term forecast.
European countries have already started the green hydrogen journey and other regions are also setting their own targets for carbon zero. In recent years, developing countries like China, India, and other Southeast Asian countries have shown remarkable green hydrogen project announcements. These countries have been pushing to achieve self-sufficiency in terms of energy, as well as increase energy export. Multiple governmental initiatives have been launched to increase local production and facilitate new investments.
Our Experienced team at Prismane Consulting is tracking the hydrogen market for a long time and has sufficient expertise to help our industrial clients understand the hydrogen market and provide them with highly useful market information and analysis.