Market Overview:
The clean hydrogen market involves the production, storage and distribution of hydrogen through low or zero-carbon pathways. Clean hydrogen or green hydrogen is produced through the electrolysis of water using renewable electricity making it non-polluting. It can be used as an alternative to fossil fuels across industries like power generation, transportation and agricultural sector. As it is carbon-free, it helps reduce GHG emissions and promote decarbonization goals of various countries.

Market key trends:
The rapid adoption of decarbonization strategies by governments worldwide to achieve net-zero emissions target is a major factor driving the clean hydrogen market. Many countries have developed national hydrogen strategies focusing on increasing investments in clean hydrogen projects and infrastructure to replace fossil fuels. For example, European Union's hydrogen strategy aims to install at least 6 GW of renewable hydrogen electrolyzers by 2024 and 40 GW by 2030 which is supporting the market growth. Growing demand for clean energy solutions from transport, industrial and power sectors to minimize environmental impact is also propelling the clean hydrogen market during the forecast period.

Key Takeaways
The global Clean Hydrogen Market Size is expected to witness high growth, exhibiting CAGR of 14.1% over the forecast period, due to increasing decarbonization efforts globally to achieve sustainability goals. The Asia Pacific region currently dominates the market owing to significant investments and focus of countries like Japan, South Korea and China to develop hydrogen economies. Europe is also emerging as a major regional market backed by the European Green Deal initiative targeting carbon neutrality by 2050.

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