Europe Green Hydrogen Market Future Outlook to 2027: Ken Research

Green Hydrogen Market Definition and Overview
Hydrogen is a flammable gas that is commonly used in fuel cells to produce electricity and heat. There are three main categories of hydrogen, gray, blue, and green. Green hydrogen is produced through the utilization of renewable energy sources, such as wind or solar. Unlike gray, and blue hydrogen, green hydrogen emits only oxygen as a byproduct. It is generated by transmitting renewable energy through an electrolyzer, which separates water molecules into hydrogen gas and oxygen. In addition, it is primarily used 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 can be transformed into electricity or synthetic gas and used for commercial, industrial or mobility purposes.

Green Hydrogen Market Outlook, Drivers and Challenges
The Europe Green Hydrogen market is expected to witness annual growth above 30% over 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 instance, according to the International Energy Agency (IEA), a Paris-based intergovernmental organization, renewable energy utilization increased by 3% in 2020, while demand for other fuels diminished during the same period. The major key factor was a growth 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 market growth. Numerous European companies, including Brambles, The Holcim Group, PGE Polska Grupa Energetyczna S.A., have committed to decarbonizing their economies or have announced plans to reduce their carbon emissions to zero in the coming years. This necessitates massive adaptation of renewable energy to replace fossil fuel-based power plants. For instance, according to 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 company is likely to adopt a decarbonization strategy that entails energy efficient technologies, on-site renewable energy infrastructure, and renewable energy procurement for buildings and industrial processes.

If You are Interested, Connect with Us to - Pre-Order this Report: -https://www.kenresearch.com/blog/request-for-sample-report/?Frmdetails=NzMzMTY=

The higher costs required in establishing and maintaining hydrogen infrastructure, such as hydrogen pipeline transport, points of hydrogen production, distribution stations, dispensers, prompt companies to seek alternative sources of renewable energy. In addition, the upfront cost needed to build hydrogen infrastructure, as well as constrained maintenance costs, are the foremost barriers to the growth of the green hydrogen industry.

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 typically generated from clean natural sources, including solar energy, wind power, geothermal energy, biomass, and hydroelectric power. Hydrogen production is done through Electrolysis process using such green renewable energy sources. As an electrochemical energy converter, water is separated into its constituents of hydrogen and oxygen by an electric current. The produced hydrogen is then delivered through pipeline and across the road in cryogenic liquid tanker trucks or gaseous tube trailers, or it can be kept as a gas or a liquid. In addition, it can also be stored on the surface of (adsorption) or within solid materials (absorption). Then, hydrogen can be used across numerous applications, including Industrial Processes, Commercial Power Generation, Industrial Power Generation, Domestic Energy Systems, and Power Grids apart from Automobiles and Other Mobility Industry Segments.

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

For More Information on the Research Report, Click on the Following Link: -
https://www.kenresearch.com/upcoming-publication/europe-green-hydrogen-market/26.html

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. In addition, long-term contracts, and continuous plant installation fueled renewables growth despite the lower electricity demand, supply chain challenges, and construction delays in many parts of the world due to COVID-19 disruptions. For instance, according to the International Energy Agency (IEA), a Paris-based intergovernmental organization, renewables' share of global electricity generation increased to 29% in 2020, up from 27% in 2019. Bioenergy use in industry increased by 3%, but it was largely mitigated by a fall in biofuels, as lower oil demand reduced the use of blended biofuels.

Following the relaxation of lockdowns in many countries, the green hydrogen market is expected to grow even more. For instance, in January 2021, The European Marine Energy Centre (EMEC), a United Kingdom Accreditation Service (UKAS) accredited test laboratory and inspection body based 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 UK Government's Department of Business, Energy, and Industrial Strategy (BEIS) to conduct a feasibility study assessing several technologies that would allow the use 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

If You are Interested, Connect with Us to - Pre-Order this Report: -https://www.kenresearch.com/blog/request-for-sample-report/?Frmdetails=NzMzMTY=

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 Period Captured in the Report:
Historical Period: 2017-2021
Forecast Period: 2022-2027

Key Target Audience -
Organizations and Entities Who Can 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 energy 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)

For More Information on the Research Report, Click on the Following Link: -
https://www.kenresearch.com/upcoming-publication/europe-green-hydrogen-market/26.html
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspective: strategy, marketing, organization, operations and technology transformation, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies.

This release was published on openPR.