Reportlinker.com has released a new report according to which the green hydrogen market in the mobility industry is expected to register the highest CAGR between 2021 and 2026.
Mobility is the largest end-use industry of green hydrogen. Green hydrogen used in the mobility industry includes vehicles used in road/off-road transportation, rail, maritime, or aviation.
The mobility end-use industry accounted for the largest share by value of the green hydrogen market in 2020. This is because hydrogen offers three times more energy per unit than fossil fuels.
Before the commercialization of fuel-cell-based engines, the mobility industry had no other sustainable alternatives to fossil fuels. Fuel Cell Electric Vehicles (FCEV) offer a sustainable alternative.
Green hydrogen is a viable and practical substitute for the automotive industry. Green hydrogen-based vehicles are optimal for mining vehicles, trains, aircraft, lorries, buses, and even maritime transport. It is the best medium to achieve zero carbon footprint stipulated by advanced countries.
Green hydrogen are used in different industries such as mobility, chemical, power, grid injection, industrial, and others. Green hydrogen is on its way to replace conventional gray, brown, and blue hydrogen due to its zero-emission manufacturing process and is cost-competitive due to technological advancements. Green hydrogen offers a sustainable substitute to fossil fuels to the various end-use industries.
In terms of volume, the alkaline electrolysis-based green hydrogen segment accounted for the largest share of 70% of the overall green hydrogen market in 2020. Alkaline electrolysis technology is the most widely preferred technology in the production of green hydrogen across the world.
Alkaline electrolysis utilizes two electrodes lowered in a basic electrolyte solution (such as sodium or potassium hydroxide), isolated by a non-conductive permeable membrane known as a diaphragm. As compared to PEM electrolysis, alkaline electrolysis tends to produce highly pure green hydrogen as hydrogen ions do not diffuse easily into an electrolyte solution and therefore it is more highly used.
The green hydrogen market in Europe is projected to register the highest CAGR, in terms of value and volume, between 2021 and 2026. Europe dominated the global green hydrogen market. The region has the presence of many manufacturers of green hydrogen and their products.
Germany accounted for a major share of the global green hydrogen market and is expected to register significant growth during the forecast period. The growth of the green hydrogen market in this region is mainly driven by the growing mobility and power industry.
