Canada Green Hydrogen Market to be Dominated by Power Generation Segment Through 2028
Canada
green hydrogen market is increasing
owning to the abundant renewable energy resources found in the area.
According
to TechSci Research report, “Canada Green Hydrogen Market – By Region,
Competition, Forecast and Opportunities, 2028", Canada green hydrogen
market is anticipated to increase at an impressive rate in the forecast period
due to abundant renewable energy resources. Green hydrogen, also known as
renewable hydrogen or clean hydrogen, has emerged as a potential game-changer
in the quest for a sustainable and low-carbon future. This versatile energy
carrier is produced by electrolyzing water using renewable electricity,
resulting in hydrogen gas and oxygen. As the world transitions away from fossil
fuels and aims to decarbonize various sectors, green hydrogen holds tremendous
promise due to its environmental benefits, energy storage capabilities, and
potential to revolutionize multiple industries.
Canada
has set ambitious climate targets to reduce greenhouse gas emissions and
transition to a low-carbon economy. The country aims to achieve net-zero
emissions by 2050 and has established interim targets to ensure progress is
made along the way. These commitments create a strong impetus for the growth of
the green hydrogen market, as hydrogen is a versatile and clean energy carrier
that can replace fossil fuels in various sectors, including transportation,
industry, and power generation.
Canada
recognizes the importance of international collaboration in unlocking the full
potential of the green hydrogen market. The country actively engages in global
initiatives and partnerships to share best practices, foster research and
development, and create a global hydrogen market. Collaborating with
international players expands market opportunities for Canadian green hydrogen
producers, as hydrogen is expected to become a globally traded commodity.
The
government has allocated significant funding through various programs to
support research, development, and commercialization of green hydrogen
technologies. For instance, the Strategic Innovation Fund and the Net Zero
Accelerator provide financial support for projects aimed at advancing clean
technologies, including green hydrogen production, storage, and utilization.
Provinces
across Canada have taken individual initiatives to promote the growth of the
green hydrogen market. British Columbia, for instance, has released its
Hydrogen Readiness Strategy, which outlines the province's vision for hydrogen
production and utilization across different sectors. The strategy focuses on
leveraging the region's renewable energy resources, establishing hydrogen hubs,
and supporting hydrogen-powered transportation. Alberta, known for its
expertise in the energy sector, has also recognized the potential of green
hydrogen and is developing a hydrogen roadmap to capitalize on its natural
resources and existing infrastructure.
Several
pilot projects and demonstrations have been initiated in Canada to showcase the
viability and potential applications of green hydrogen. These projects serve as
important steppingstones towards commercial-scale deployment.
The
last three years have witnessed significant developments in Canada's green
hydrogen market, driven by government support, policy initiatives,
partnerships, pilot projects, and investments in infrastructure. These
advancements have positioned Canada as a leading player in the global green
hydrogen transition, leveraging its abundant renewable energy resources and
fostering innovation. As the country continues to scale up green hydrogen
production, integrate the supply chain, and develop supportive regulatory
frameworks, Canada is poised to contribute significantly to a sustainable and
low-carbon future.
Browse
over XX Market Data Figures spread through XX Pages and an in-depth TOC on "Canada Green Hydrogen Market."
Canada
green hydrogen market is segmented based on technology, application, end use,
and region.
Based
on technology, Canada green hydrogen market is divided into proton exchange
membrane electrolyzers, alkaline electrolyzers, and solid oxide electrolyzers.
Proton exchange membrane electrolyzers is expected to hold the largest market
share in the forecast period.
Based
on application, canada green hydrogen chemical is divided into power
generation, transport, and others. Increasing demand for electricity is the
primary reason driving the segment's growth.
Major companies operating in Canada green hydrogen market
are:
- Ballard Power Systems
- Hydrogenics Corporation
- Xebec Adsorption Inc
- Loop Energy
- HTEC (Hydrogen Technology &
Energy Corporation)
- Proton Technologies Inc.
- Enbridge Inc.
- Air Liquide Canada
- Canadian Hydrogen and Fuel Cell
Association (CHFCA)
- Proton Technologies Corporation
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“Canada's
green hydrogen market is experiencing robust growth, driven by abundant
renewable energy resources, ambitious climate targets, supportive policies,
industry collaboration, and international partnerships. As the country embraces
the transition to a low-carbon economy, green hydrogen holds tremendous
potential to decarbonize key sectors, create new economic opportunities, and
contribute to Canada's sustainable future. With continued investments,
innovation, and collaboration, Canada is poised to become a leader in the
global green" said Mr. Karan Chechi, Research Director with TechSci research,
a research based global management consulting firm.
“Canada
Green Hydrogen Market, By Technology (Proton Exchange Membrane Electrolyzer,
Alkaline Electrolyzer, and Solid Oxide Electrolyzer), By Application (Power
Generation, Transport, and Others), By End Use Industry (Food & Beverages,
Medical, Chemical, Petrochemicals, Glass, and Others), By Region, Competition,
Forecast and Opportunities, 2028” has
evaluated the future growth potential of Canada green hydrogen market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Canada green hydrogen market.
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