The market value of green hydrogen stood at $2.14 billion in 2021. And the global market is likely to expand at a phenomenal compound annual growth rate of 51.6 percent in the next decade, according to Transparency Market Research.
Transparency Market Research estimates the green hydrogen market will attain a value of $135.73 billion by 2031. The best natural and cleanest form of hydrogen is green hydrogen, which doesn't produce carbon dioxide as a by-product. In the foreseeable future, more renewable energy is expected to be produced.
In addition, the use of renewable energy is expanding as environmental regulations become more stringent and there is more emphasis to limit the amount of energy that is derived from hydrocarbons in order to lower carbon dioxide emissions.
The deployment of renewable resources in electric generation facilities is being driven by the implementation of strict restrictions to minimize greenhouse-gas emissions from power production f