As cited by the research report titled ‘Global Green Hydrogen Market (Value, Volume) - Analysis By Technology, Application, By Region, By Country (2021 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2021-2026)’, available with MarketStudyReport, global green hydrogen market generated revenues worth USD 908.15 million in 2020 and is likely to amass notable gains over 2021-2026.
 

Rising demand for renewable energy resources is a major factor driving global green hydrogen market growth. Increasing adoption of green hydrogen owing to rising government investments & subsidies promoting the use of clean fuels, is further favoring the industry outlook.
 

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For the record, green hydrogen is produced by the method of electrolysis of water for which electricity generated by renewable energy sources, such as wind or solar energy is utilized. These clean energy resources are witnessing increasing demand as they are considered to be eco-friendly alternatives to fossil fuels, thereby augmenting the market scope. 
 

Speaking of the technology ambit, the global green hydrogen market space is segmented into proton exchange membrane electrolyzer, solid oxide electrolyzer, and alkaline electrolyzer. As cited in the report, alkaline electrolyzer segment is slated to amass considerable valuation over the assessment period. The electrolyzer operate through the transfer of hydroxide ions via the electrolyte from the cathode to the anode, wherein hydrogen is produced on the cathode side in the process.
 

Considering the application range, the marketplace is bifurcated into transport, power generation, and others. Worldwide green hydrogen industry size from the power generation segment is reckoned to showcase lucrative growth trends over the projected timespan, owing to the ever-increasing power demand due to rising global population, growing migration of population into urban areas, and increasing industrialization in emerging economies.
 

On the geographical front, the industry is categorized into North America, Asia Pacific, and Europe. While the country level analysis includes, Canada, United States, Germany, France, Italy, United Kingdom, Japan, China, India, and Australia.
 

Europe market is anticipated to garner notable returns over the estimated timeline. This can be accredited to the presence of an advanced oil and gas infrastructure in the region, which has an immense potential to be converted into an infrastructure for hydrogen production, storage, and transportation along with generating lucrative job opportunities.
 

Major players profiled in the worldwide green hydrogen industry are Loop Energy Inc., ERGOSUP, Solena Group, Green Hydrogen Systems A/S, Nel Hydrogen, Plug Power Inc., Air Products and Chemicals Inc., Siemens AG, Air Liquide S.A., and Linde plc.