According to the research literature 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 Market Study Report, global green hydrogen market was valued USD 908.15 million in 2020 and is expected to record a healthy growth rate over 2021-2026.
 

As per the findings of the report, escalating demand for renewable energy resources is catalyzing global green hydrogen market growth. Moreover, rise in number of government investments and subsidies promoting usage of cleaner fuel like hydrogen is adding considerable traction to business development.
 

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Based on technology, the industry is split into alkaline electroloyzer, solid oxide electrolyzer, proton exchange membrane electrolyzer.  Among these, alkaline electrolyzer currently accounts for majority of the industry share and will likely continue to showcase strong growth trends through 2026. Alkaline electrolyzer work on the principle of hydroxide ion transmission through the electrolyte. The ions are are carried from the cathode to the anode which simultaneously generates hydrogen on the cathode throughout the process. These electrolyzer utilize sodium or potassium hydroxide based liquid alkaline solution as an electrolyte.
 

Moving on, the application spectrum of global green hydrogen market is split into power generation, transport, and others. Power generation segments presently captures majority of the industry share, creditable to mounting energy demand due to inflating population together with rapid industrialization and urbanization, especially in emerging economies.
 

Considering the geographical landscape, North America (United States, Canada), Europe (Germany, France, Italy, United Kingdom), and Asia Pacific (India, Japan, Australia, China) are the major contributors to global green hydrogen industry expansion. Europe market is set to grow substantially in the upcoming years due to presence of well-developed oil & gas infrastructure, which boasts a of huge potential to facilitate production, storage, and transportation of hydrogen.
 

Speaking of the competitive landscape, top contenders influencing the global green hydrogen industry trends are Loop Energy Inc., Ergosup, Solena Group, Green Hydrogen Systems, Nel ASA, Plug Power Inc., Air Products and Chemicals Inc., Siemens AG, Air Liquide S.A., and Lindle plc.