Green Hydrogen Market worth $7,314 million by 2027 growing at a CAGR of 61.0%. The mobility industry accounted for a share of 58% in terms of value in the Green Hydrogen Market in 2022 and is projected to reach USD 4,550 million by 2027 at a CAGR of 63.4%. The power sector is projected to witness the second-highest CAGR of 63.0%, growing from USD 88.5 million in 2022 to USD 1018 million by 2027.

1. OVERVIEW: Green Hydrogen Market worth $7,314 million by 2027 growing at a CAGR of 61.0%.
The mobility industry accounted for a share of 58% in terms of value in the Green Hydrogen
Market in 2022 and is projected to reach USD 4,550 million by 2027 at a CAGR of 63.4%. The
power sector is projected to witness the second highest CAGR of 63.0%, growing from USD 88.5
million in 2022 to USD 1018 million by 2027. During the forecast period, market growth is
anticipated to be fueled by elements including declining costs of producing renewable energy
from all sources, development of electrolysis technologies, and high demand from FCEVs and the
power industry. The global market for green hydrogen is dominated by wind-powered green
hydrogen. In the global green hydrogen market, the end-use sector for transportation accounted
for the largest market share.
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IMPACT OF GREEN HYDROGEN
1. Electrolysis: Green hydrogen is primarily created through electrolysis. It involves using
an electrical current to divide water (H2O) into hydrogen (H2) and oxygen (O2). There
are various forms of electrolysis, such as
 Proton Exchange Membrane (PEM) Electrolysis uses an electrolyte made of
solid polymers to separate hydrogen from oxygen. Applications on a smaller
scale, like hydrogen refueling stations, are appropriate for it.
 Alkaline Electrolysis: uses an electrolyte made of solid polymers to separate
hydrogen from oxygen. Applications on a smaller scale, like hydrogen refueling
stations, are appropriate for it.
 Solid Oxide Electrolysis: operates at high temperatures and has a large-scale
hydrogen production capacity.
2. Renewable Energy Sources: Renewable energy sources, like wind, solar, or hydropower,
are used to generate the electricity required for the electrolysis process that creates
green hydrogen. These sources are regarded as "green" because they don't directly emit
greenhouse gases.
3. Hydrogen Storage: In tanks or as a liquid, hydrogen gas is typically stored and
transported under intense pressure. A key component of green hydrogen technology is
the creation of effective and secure storage techniques.
4. Fuel Cells: Fuel cells are machinery that electrochemically transform hydrogen into
electricity. They are employed in numerous processes, such as stationary power
generation, stationary backup power systems, andvehicle power. The hydrogen
economy relies heavily on fuel cell technology.
5. Hydrogen Transportation: Hydrogen fuel cell vehicles (HFCVs), among other forms of
transportation, can use green hydrogen. These vehicles emit only water vapor as exhaust
and use hydrogen to generate electricity to run electric motors.
6. Hydrogen Refueling Stations: The widespread adoption of hydrogen-based
transportation depends on the availability of infrastructure for hydrogen vehicle

2. refueling. Vehicles are safely and effectively supplied with high-pressure hydrogen gas at
hydrogen refueling stations.
7. Hydrogen Production from Biomass: A procedure known as biomass gasification can
also be used to produce hydrogen from biomass feedstocks. This technology makes it
possible to create green hydrogen from organic materials, further advancing
sustainabilityobjectives.
However, there are also some challenges in green hydrogen economy associated with the
adoption of green hydrogen, including:
1. Cost: Due to the costs of renewable energy sources and electrolysis equipment,
producing green hydrogen currently costs more than producing gray hydrogen from
fossil fuels. A significant challenge is lowering the price of green hydrogen to make it
affordable.
2. Energy Efficiency: Electrolysis, the method used to create green hydrogen, is not
particularly energy efficient. Hydrogen production is less efficient than other energy
storage methods because a significant amount of energy is lost during the process.
3. Infrastructure: It is extremely difficult to set up a hydrogen infrastructure that includes
facilities for production, transportation, and storage. It will take a lot of work to create a
hydrogen distribution network that is comparable to the natural gas infrastructure that
already exists.
4. Scaling Up Renewable Energy: A significant expansion of renewable energy capacity is
required to produce sizable amounts of green hydrogen. In order to do this, problems
with intermittent renewable energy, energy storage, and land use must be addressed.
5. Market Development: It is extremely difficult to create markets for green hydrogen in
sectors of the economy that have historically relied on fossil fuels. It can be challenging
to persuade industries to switch to green hydrogen, particularly when doing so requires
infrastructure investments.
Technological Developments in Green Hydrogen Production
Technological developments in green hydrogen production are rapidly evolving, driven by
increasing demand for clean energy and a growing understanding of the potential of green
hydrogen. Here are some of the recent technological developments in green hydrogen
production:
1. Electrolysis Efficiency: Water is split into hydrogen and oxygen through a process called
electrolysis. Proton exchange membrane (PEM) electrolysis and solid oxide electrolysis
cells are examples of electrolysis technology advancements that have increased energy
efficiency, decreased capital costs, and increased the operational life of electrolyzers.
2. Renewable Energy Integration: The integration of renewable energy sources, such as
wind and solar power, with electrolysis systems has become more efficient and cost-
effective. Electrolyzers can now adapt to the intermittent nature of renewables, allowing
for a more reliable and continuous hydrogen production process.

3. 3. Hydrogen Storage: It is now more practical to store and transport hydrogen thanks to
advancements in technologies for safe and effective hydrogen storage, such as metal
hydrides and carbon-based materials.
4. Carbon Capture and Utilization: Carbon capture and utilization (CCU) technologies are
used in some environmentally friendly hydrogen production processes, making it
possible to produce hydrogen with zero carbon emissions.
5. Green Hydrogen Production at Scale: Larger-scale green hydrogen production projects
are currently being developed, which will further reduce costs and show the green
hydrogen's commercial viability.
Read More: https://www.marketsandmarkets.com/industry-practice/hydrogen/green-
hydrogen
 Leading players in Green Hydrogen Economy
 Strengths and limitations of green hydrogen
 Green hydrogen technologies
 Hydrogen as clean energy
 Green hydrogen energy solutions