The green hydrogen market is gaining increasing importance thanks to the crucial role this clean fuel plays in the transition to a sustainable energy future, in addition to enhancing green electricity generation rates. Which contributes to enhancing energy security.
In recent years there has been a strong focus on increasing hydrogen production capacity, with many countries and companies investing in large hydrogen production plants.
China is now the main producer of hydrogen, and other countries, such as Germany, South Korea, Japan, and the United States of America, are making significant investments in hydrogen technology and related infrastructure, according to reports reviewed by the specialized energy platform.
The hydrogen production process includes various industrial methods for producing hydrogen gas, which is a clean and flexible energy source, and its applications are many in many industries, such as electricity generation, transportation, and fuel cells.
There are different processes for producing hydrogen; Among them are electrolysis and biomass conversion, among many others.
In this context, the results of a recent report issued by the Foundation were concluded Research and Markets (Research and Markets) indicated that the value of the green hydrogen market touched $2.82 billion last year (2022), from $1.1 billion in 2017, with a compound annual growth rate of 4.3% during the period from 2018 to 2022.
The report attributed the significant growth in the green hydrogen production market to the vital role it plays in enhancing investments in low-carbon fuel sources.
The following design – prepared by the Specialized Energy Platform – explains the types of hydrogen in terms of production method, energy source and environmental impact:
Growing investments
The growth in the value of the green hydrogen market is supported by the increasing trend towards reducing carbon emissions in industries that face difficulties in direct electrification, such as heavy industry and long-distance transportation.
Hydrogen is a clean fuel; Its production process emits only few carbon emissions compared to other environmentally sensitive fossil fuel sources.
The green hydrogen market is witnessing steady growth supported by stringent environmental regulations and standard specifications adhered to by engine manufacturers.
Steam reforming of methane
On the basis of type, the green hydrogen market is divided into steam methane reforming, partial oxidation, coal gasification, and electrolysis, according to information compiled by the specialist energy platform.
Coal gasification refers to a chemical process whose goal is to convert carbon in coal into flammable gaseous compounds.
This segment represented the lion’s share of the green hydrogen market in 2022.
Fractional steam methane reforming is a popular method for producing green hydrogen, which is used in various industries, including petrochemicals, refining and ammonia production, among many others.
Steam methane reforming is one of the most widely used processes for producing hydrogen; Natural gas and carbon dioxide are used as by-products.
A large proportion of the global green hydrogen market relies on this method, and the growing demand for hydrogen as a clean energy carrier in various industrial processes could drive the demand for steam methane reforming.
Green hydrogen production by electrolysis – Image from science
electrolysis
Electrolysis technology provides another way to produce hydrogen; It involves using electrical energy to split water molecules into hydrogen and oxygen.
This process can be sustainable when using renewable sources of energy such as sun and wind.
Hydrogen production using electrolysis technology is growing rapidly and is expected to make a significant impact on the hydrogen economy in the future.
North America leads
North America emerged as a leading region in the green hydrogen market during the past year (2022), according to reports monitored by the specialized energy platform.
The need for energy savings, reliable system performance, and integration with existing infrastructure is consistent with the benefits of investment plans; What makes it very useful in implementing clean energy policies by companies.
Asia and the Pacific is expected to record the highest compound annual growth rate during the forecast period. Australia and Japan stand out as the largest contributors to the regional growth of the green hydrogen production market.
For example, the Japanese technology giant Toshiba is currently building a green hydrogen production plant with an electrolyzer capacity of 100 megawatts, which can be used to use hydrogen for multiple transportation applications.
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2023-11-11 09:41:34
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