Green Hydrogen is a chemical component that is produced through the process of electrolysis of water. In this process, distilled water, which is a prime component in any critical chemical process and is used extensively in laboratories, is passed through distinct anodes and cathodes simultaneously distributing the positive and the negative charges in the battery which is kept in the distilled water surface. After that, the water is made to pass through a process of energy conversion where the wind energy and tidal energy are converted into electrical energy through the process of kinetic to potential energy conversion. This generated electricity is further utilized for generating electrical components on the water surface thereby making them electronically charged particles emanating electricity on the water surface.
The driving factors influencing the global green hydrogen market include increasing usage of electrical energy for energy conversion processes and the emission of harmful carbon dioxide through carbon emission causing immense pollution in the environment. Carbon emissions which include the release of harmful and toxic gases like Carbon Monoxide, Carbon Dioxide etc. are not only harmful to the functioning of the human body but it is also very harmful to the ecosystem and the elects which comprise the ecosystem and its subsequent functioning. Moreover, an alternative source of energy should also be deciphered by this time as non-renewable sources cause an enormous amount of damage to the environmental components and cause an imbalance in the functioning of the economy.
In terms of market players, the global green hydrogen market is competitive and fragmented with the presence of various kinds of different vendors including Linde, Air Liquide, Air Products and Chemicals, Inc., Engie, Uniper SE,
Siemens, Green Hydrogen, Hydrogenics,
Toshiba Energy Systems & Solutions Corp. and Nel ASA.
The need for an alternative to the renewable resources of energy has been driving the growth of the green hydrogen market. The desire for a clean, sustainable and reliable means of energy which can be potentially stored and utilized over repetitive operations and can always be restored to its current condition with extensive application of energy measures comprises the most important criteria for the development of renewable resources and measures of energy. However, the electrolysis process that will generate the energy source requires the use of an electrolyte unit. This unit of electrolyte is expensive equipment and requires a significant amount of capital. The cost incurred in acquiring it can be pointed out as one of the big deficiencies in the development of green hydrogen as a developmental component of energy generation.
Segmentation of the Global Green Hydrogen Market
Green Hydrogen Market
Based on Technology-
Polymer Electrolyte Membrane (PEM) Electrolyzer
Based on Region-