Global Market Insights Inc: projects the green hydrogen market will be worth USD 119 billion by 2030
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According to a recent study report by Global Market Insights Inc., the market for green hydrogen is anticipated to reach a value of USD 119 billion by 2030.
The market trends for green hydrogen will be boosted by significant investment in green hydrogen production technology from both the public and commercial sectors.
The introduction of creative & effective technologies for clean hydrogen production has been made possible by robust research and development initiatives.
Major industry actors may work together more frequently to improve the production of hydrogen and other environmentally friendly fuels.
Facilities for the creation of wind and solar energy are used to create green hydrogen.
In underdeveloped countries, solar energy is one of the most widely used renewable energy sources.
By 2030, the installed capacity for solar PV in Africa might be above 125 GW, accounting for a sizeable percentage of the continent's total power-producing potential.
This suggests a substantial opportunity for clean hydrogen generators to support regional nations' transition to a greener future.
By 2030, it is expected that the solid oxide technology segment's green hydrogen market would be worth USD 950 million.
Through 2030, the Asia Pacific green hydrogen market is anticipated to grow at a CAGR of more than 60%.
New clean hydrogen projects are currently receiving significant funding.