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Europe Green Hydrogen Market Future Outlook to 2027: Ken Research

Green Hydrogen Market Definition and Overview

Hydrogen is really a flammable gas that’s popular in fuel cells to create electricity and heat. You can find three main types of hydrogen, gray, blue, and green. Green hydrogen is produced through the use of renewable energy sources, such as for example wind or solar. Unlike gray, and blue hydrogen, green hydrogen emits only oxygen as a byproduct. It really is generated by transmitting renewable energy via an electrolyzer, which separates water molecules into hydrogen gas and oxygen. Furthermore, it really is primarily found in the refining of petroleum products, including fuel oil, diesel fuel, gasoline, kerosene, liquefied petroleum gas, and in the chemical industry for the production of fertilizers. Also, it could be transformed into electricity or synthetic gas and useful for commercial, industrial or mobility purposes.

Green Hydrogen Market Outlook, Drivers and Challenges

The Europe Green Hydrogen market is likely to witness annual growth above 30% on the next five years, driven by rising demand for renewable energy resources as concern for climate change, and support for environmental, social, and governance (ESG) considerations grows. For example, based on the International Energy Agency (IEA), a Paris-based intergovernmental organization, renewable energy utilization increased by 3% in 2020, while demand for other fuels diminished through the same period. The major main factor was a rise of nearly 7% in electricity generation for renewable sources.

The rising demand for cleaner energy from numerous industry sectors is another major factor propelling the marketplace growth. Numerous European companies, including Brambles, The Holcim Group, PGE Polska Grupa Energetyczna S.A., have focused on decarbonizing their economies or have announced plans to lessen their carbon emissions to zero in the coming years. This necessitates massive adaptation of renewable energy to displace fossil fuel-based power plants. For example, in accordance with World Green Building Council (World GBC), a U.S.-based non-profit organization, in February 2021, Siemens AG, a Germany-based automation company, signed the commitment to be net zero carbon by 2030. The business will probably adopt a decarbonization strategy that entails energy conserving technologies, on-site renewable energy infrastructure, and renewable energy procurement for buildings and industrial processes.

The bigger costs required in establishing and maintaining hydrogen infrastructure, such as for example hydrogen pipeline transport, points of hydrogen production, distribution stations, dispensers, prompt companies to get alternative resources of renewable energy. Furthermore, the upfront cost had a need to build hydrogen infrastructure, along with constrained maintenance costs, will be the foremost barriers to the growth of the green hydrogen industry.

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Europe Green Hydrogen Market Value Chain Analysis

Green hydrogen’s value chain begins with the generation of green renewable energy supply. Green energy (electricity) is normally generated from clean natural sources, including solar technology, wind power, geothermal energy, biomass, and hydroelectric power. Hydrogen production is performed through Electrolysis process using such green renewable energy sources. Being an electrochemical energy converter, water is sectioned off into its constituents of hydrogen and oxygen by a power current. The produced hydrogen is then delivered through pipeline and over the road in cryogenic liquid tanker trucks or gaseous tube trailers, or it could be kept as a gas or perhaps a liquid. Furthermore, it is also stored at first glance of (adsorption) or within solid materials (absorption). Then, hydrogen may be used across numerous applications, including Industrial Processes, Commercial Power Generation, Industrial Power Generation, Domestic Energy Systems, and Power Grids aside from Automobiles along with other Mobility Industry Segments.

Europe Green Hydrogen Market Segmentation

Europe Green Hydrogen market could be segmented into technology-based categories, such as for example Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, and Solid Oxide Electrolyzer. Mobility, Industrial Processes, Domestic Energy Systems, and Power Grids will be the application-based segments on the market. Captive, and Merchant (Pipeline, Liquid Tanker Trucks, Gaseous Tube Trailers) will be the Generation and Delivery modes of the green hydrogen. Geographically, the major country markets in Europe are Germany, UK, France, Italy, and Spain.

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Europe Green Hydrogen Market Competitive Landscape of Major Players

Some key players in the Europe Green Hydrogen Market include Linde Plc., Shell Plc., FuelCell Energy, Ballard Power Systems, Siemens Energy AG, Schaeffler Group, Air Products, and Bloom Energy.

Impact of Covid-19 on Europe Green Hydrogen Market

The ongoing Covid-19 pandemic has benefited the green hydrogen industry, notably in 2020, by exacerbating the trend toward decarbonization by minimizing hydrocarbon demand. Furthermore, long-term contracts, and continuous plant installation fueled renewables growth regardless of the lower electricity demand, supply chain challenges, and construction delays in lots of parts of the planet because of COVID-19 disruptions. For example, based on the International Energy Agency (IEA), a Paris-based intergovernmental organization, renewables’ share of global electricity generation risen to 29% in 2020, up from 27% in 2019. Bioenergy used in industry increased by 3%, nonetheless it was largely mitigated by way of a fall in biofuels, as lower oil demand reduced the usage of blended biofuels.

Following relaxation of lockdowns in lots of countries, the green hydrogen market is likely to grow a lot more. For example, in January 2021, The European Marine Energy Centre (EMEC), a UK Accreditation Service (UKAS) accredited test laboratory and inspection body located in Orkney Islands, UK, initiated a project with Highland Park and The Orkney Distillery to explore green hydrogen heating as a clean fuel solution for decarbonisation in the distilling sector. The HySpirits 2 project, led by the European Marine Energy Centre (EMEC), has been granted ~USD 59,864 (58,781) in funding from the united kingdom Government’s Department of Business, Energy, and Industrial Strategy (BEIS) to conduct a feasibility study assessing several technologies that could allow the usage of green hydrogen as fuel in the distilling process.

Key Segments Covered in Europe Green Hydrogen Market

Europe Green Hydrogen Market by Technology

Proton Exchange Membrane Electrolyzer

Alkaline Electrolyzer

Solid Oxide Electrolyzer

Europe Green Hydrogen Market by Application

Mobility

Industrial Processes

Domestic Energy Systems

Power Grids

Europe Green Hydrogen Market by Generation and Delivery Mode

Captive

Merchant

Pipeline and Tube Trailers

Liquid Tanker Trucks

Ships

Europe Green Hydrogen Market by Geography

Germany

UK

France

Italy

Spain

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Key Competitors in Europe Green Hydrogen Market

Linde Inc.

Shell Plc.

Air Liquide

Siemens Energy AG

Thyssenkrupp

Schaeffler Group

Air Products

Toshiba Energy Systems & Solutions Corporation

Nel ASA

Engie

TIME FRAME Captured in the Report:

Historical Period:2017-2021

Forecast Period:2022-2027

Key MARKET

Organizations and Entities WHO IS ABLE TO Benefit by Subscribing This Report:

Green Hydrogen Production Companies

Green Hydrogen Distributors

Renewable Energy Companies

Potential Investors in Green Hydrogen Companies

Hydrogen Association

Utilities Sector Organizations

Automotive Companies

Transportation Equipment Manufacturers

Urban Mobility Systems Companies

Industrial Power Generation Equipment Companies

Commercial Power Generation Equipment Companies

Research & Development Institutes

Government Investors

Ministries of Energy and Power Generation

Ministries of Energy and Power Distribution

Environment Control and Emission Regulatory Organizations

Consulting companies in the power and power sector

Electrical infrastructure providers

Gas turbine and IC engine manufacturers

Government and research organizations

Investment banks

Investors and financial community professionals

Renewable Energy Research Organizations

Investment Funds

Independent Power Producers (IPP)

TO FIND OUT MORE on the study Report, Go through the Following Link: –

Europe Green Hydrogen Market Analysis

E MAIL US: –

Ken Research

Ankur Gupta, Head Marketing & Communications

Support@kenresearch.com

+91-9015378249

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