Industry Size and Competitive Landscape
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The market for green hydrogen is experiencing rapid growth, fueled by global efforts to reduce carbon emissions, supportive government policies, and the decreasing cost of renewable energy. This has made the production of green hydrogen more cost-competitive, particularly in regions with abundant wind and solar resources. The versatility of green hydrogen as an energy carrier is also a key driver.
It can be used to decarbonize hard-to-abate sectors like heavy industry and long-haul transportation, which are difficult to electrify directly. The development of robust hydrogen infrastructure, including production, storage, and distribution, is a key component of the overall energy transition storage strategy. As more countries set ambitious net-zero targets, P2G and green hydrogen will play an increasingly vital role in creating a resilient and sustainable energy future.