Dublin, August 26, 2024 (GLOBE NEWSWIRE) — The report “Europe Green Hydrogen Market: Focus on Application, Technology, Renewable Energy Sources and Country – Analysis and Forecast, 2023-2033” has been added to The Offer.
The Europe green hydrogen market was valued at USD 253.8 million in 2023 and is expected to grow at a compound annual growth rate of 66.72% during the forecast period 2023–2033 to reach USD 42.10 billion by 2033. The growth of the green hydrogen market is expected to be driven by low variable electricity costs for renewable energy (VRE), global plans for net zero emissions by 2050, and increased awareness about green hydrogen.
The European green hydrogen market is growing rapidly as the region works to transition to a more sustainable energy future. Produced by electrolysis of water using renewable energy sources such as wind and solar power, green hydrogen is proving to be a critical solution for carbon neutrality. This clean and versatile energy carrier has the potential to significantly reduce carbon emissions in numerous sectors, including transport, industry and power generation.
Several European countries are pioneers in the production and use of green hydrogen, driven by ambitious climate targets and significant investments in renewable energy infrastructure. The European Union’s Green Deal and Hydrogen Strategy aim to promote the development of a strong hydrogen economy, with electrolyzer capacities in the gigawatt range to be installed by 2030.
The market is mainly driven by financial incentives, cooperation between the public and private sectors and supportive government policies. The region’s commitment to reducing greenhouse gas emissions and increasing energy security is driving the demand for green hydrogen.
As Europe continues to innovate and expand its renewable energy capacity, the green hydrogen market is expected to flourish, creating significant opportunities for players across the value chain, from electrolyser manufacturers to end users in numerous industries.
What added value can this report create for a company?
Product/innovation strategy: In the area of Europe Green Hydrogen Market, technological advancements are changing the agricultural landscapes to create successful products, select the right unmet needs, target the right customer group, and compete with substitute products. The product section helps readers understand the different types of technologies used for the Green Hydrogen Market. Furthermore, the study provides readers with a detailed understanding of the Europe Green Hydrogen Market based on application and product.
Growth/Marketing Strategy: The European green hydrogen market has witnessed remarkable growth strategies from key players. Business expansions, collaborations and partnerships have been key. Companies are venturing into global markets, forging alliances and engaging in research collaborations to improve their technological competence. Collaboration between hydrogen producers and supplier experts is driving the development of cutting-edge monitoring tools. In addition, strategic joint ventures are promoting the integration of diverse expertise and increasing the market presence of these solutions. This collaborative approach is crucial for the development of a comprehensive, user-friendly and efficient green hydrogen market.
Competitive strategy: In the competitive landscape of the green hydrogen market, manufacturers are diversifying their product portfolios to cover different application areas. Market segments include application, technology, and renewable energy sources. Competitive comparisons highlight the strengths of market participants and highlight their unique offerings and regional strengths. Partnerships with research institutions and agricultural organizations drive innovation.
Main features:
| Report Attribute | Details |
| Number of pages | 82 |
| Forecast period | 2023 – 2033 |
| Estimated market value (USD) in 2023 | 253.8 million US dollars |
| Projected market value (USD) until 2033 | 42108.6 million US dollars |
| Average annual growth rate | 66.7% |
| Regions covered | Europe |
Market Dynamics: Overview
Market drivers
- Low variable electricity costs for renewable energies (VRE)
- Global plans for net zero emissions by 2050
- Increasing awareness of green hydrogen
Trends: Current and future impact assessment
- Decarbonization in sight
- Infrastructure development
- Falling costs for renewable energies
Market restrictions
- High production costs
- Limited dedicated transport infrastructure
Market opportunities
- Wide application of green hydrogen
- Scaling of technologies
Supply chain overview
Research and development report
- Trend in patent applications (by country and company)
Regulatory landscape
- Consortia and associations
- Regulatory authorities
- Government programs
Startup landscape
- Important start-ups in the ecosystem
Impact analysis for major global events: COVID-19
Featured companies
- Linde plc
- Air Liquide
- Engine
- Uniper SE
- Siemens Energy
- Green hydrogen systems
- In ASA
- Aker Horizons
- HY2GEN AG
- Fusion fuel
Market segmentation
Application
- Oil and Gas
- Industrial raw materials
- ammonia
- Methanol
- Steel
- Miscellaneous
- mobility
- Power generation
- Miscellaneous
technology
- Proton exchange membrane electrolyzer (PEM)
- Alkaline electrolyzer
- Anion exchange membrane
- Solid oxide electrolyzer
Renewable energy source
- Wind energy
- Solar energy
- Miscellaneous
country
- France
- Germany
- United Kingdom
- Spain
- Italy
- Russia
- Rest of Europe
For more information about this report visit https://www.researchandmarkets.com/r/nx3bjr
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source of international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
-
European market for green hydrogen
