Arizton is pleased to announce its latest report, the green hydrogen market - global outlook & forecast 2024-2029, shedding light on the dynamic and rapidly evolving industry. The comprehensive report unveils valuable market trends, growth opportunities, and the competitive landscape of the business. With in-depth analysis and meticulous research, this report serves as a strategic guide for industry players, investors, and decision-makers, offering a comprehensive understanding of the current green hydrogen industry dynamics and future prospects.  

Browse 96 market data Tables and 82 Figures spread through 313 Pages and in-depth TOC on the green hydrogen market by technology (alkaline electrolyser, proton exchange membrane electrolyzer, and other), source (wind energy, solar energy, and others), end users (refining, ammonia, and others), geography (North America, Europe, APAC, Latin America, and Middle East & Africa) – global outlook & forecast 2024-2029. 

Arizton estimates the global green hydrogen market is set to experience unprecedented growth, with a compound annual growth rate (CAGR) of 53.53% between 2022 and 2029. This surge is driven by rising investments in green hydrogen projects, rapid technological advancements, increasing R&D activities, and the emergence of the anion exchange membrane. As nations intensify their focus on decarbonization, green hydrogen is emerging as a leading sustainable energy source, with the potential to revolutionize industries worldwide. 

Green Hydrogen: A Key Player in the Energy Transition 

Green hydrogen, produced via electrolysis using renewable energy, has gained global recognition as a critical solution in the shift to a low-carbon economy. While the majority of current hydrogen production still comes from natural gas, resulting in gray or blue hydrogen, the market is seeing a growing shift toward green hydrogen. Despite representing only a fraction of global hydrogen production (1 million tons in 2021), green hydrogen is poised for significant expansion, with its ability to be generated at varying scales and in diverse locations worldwide. As production ramps up, competitive value chains and new investment opportunities are expected to emerge. 

Strategic Investments and Major Developments 

Key players in the market are making bold moves to enhance their green hydrogen capabilities: 

Iberdrola: In December 2023, Iberdrola announced plans to double its Innovation, Development, and Research (R&D&I) investments to $4.37 billion by 2030. The company is driving forward several green initiatives, including offshore wind energy, pumped hydro technology, and green hydrogen development. Iberdrola’s emphasis on innovation, particularly in renewable energy and smart grids, positions it as a leader in global decarbonization efforts. 

ITM Power: In September 2023, ITM Power and FRIEM formed a partnership to develop a standardized Power Supply Unit (PSU) design, optimized for ITM's 2MW Plug & Play electrolysis container. This collaboration aims to enhance system reliability and reduce costs, underscoring ITM's commitment to advancing Proton Exchange Membrane (PEM) electrolysis technology. 

Investment Surge Driving Global Green Hydrogen Projects 

Over the past year, the global green hydrogen market has seen a surge in investments, spurred by the rising demand for cleaner energy solutions. In 2023, the World Bank approved a $150 million loan to support green hydrogen projects in Chile, marking a significant step in the country’s transition to carbon neutrality by 2050. This financial backing is part of a broader trend, with investments also flowing into other regions like the Middle East and North Africa (MENA). As of November 2022, nearly 50 green hydrogen projects are in the planning stages in MENA, with an estimated $155 billion in investments directed at integrated ammonia production facilities and renewable energy plants. 

The growing interest in green hydrogen extends beyond the energy sector, with heavy industries and long-haul transportation recognizing the potential of green hydrogen as a versatile energy carrier. These sectors, which face challenges in direct electrification, are increasingly turning to green hydrogen as a key solution to achieve decarbonization goals. 

The Path Forward for Green Hydrogen 

With governments, industries, and investors doubling down on green hydrogen, the market is expected to play a central role in the global energy transition. Ambitious plans are underway to scale up green hydrogen production, infrastructure, and utilization, creating new opportunities for countries looking to lead in this emerging market. As the green hydrogen industry continues to evolve, its potential to drive sustainable growth and support carbon neutrality goals remains at the forefront of global energy strategies. 

Looking to Invest in Green Hydrogen Market? Click Here to Get Exclusive Insights Now: https://www.arizton.com/market-reports/green-hydrogen-market 

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