openPR Logo
Press release

5 Key Insights on $14 Bn Opportunity in Europe Green Hydrogen Market: Ken Research

10-05-2022 11:07 AM CET | Energy & Environment

Press release from: Ken Research

5 Key Insights on $14 Bn Opportunity in Europe Green Hydrogen

Driven by Rising Demand for Cleaner Energy, and Growing Environmental Issues Caused by Carbon Emissions, the Green Hydrogen Market in Europe is forecasted to Cross $14 Bn by 2030 says Ken Research Study.

Green Hydrogen is increasingly gaining popularity across Europe as a way to reduce greenhouse gas emissions and due to its abundant supply, posing competition for fossil fuels such as oil and coal. Rising government initiatives to endorse the use of fuel cell electric vehicles (FCVs) are increasing demand for advanced electrolysis technologies, which is helping drive the Green Hydrogen market growth. Furthermore, accelerating hydrogen transit infrastructure and storage deployment with several Important Projects of Common European Interest (IPCEIs) are contributing is also expected to boost the market.

According to Ken Research estimates, the Europe Green Hydrogen Market - which grew from around US$0.33 Bn in 2019 to nearly US$0.64 Bn in 2021 - is expected to grow further into a more than US$14.50 Bn opportunity by 2030.

1. Europe has Seen Accelerated Growth in Green Hydrogen after Renewed Initiatives of Governments towards Decarbonization in 2021.
The Europe Green Hydrogen Market is expected to witness strong growth during the forecast period, due to the rising demand for renewable energy sources, notably in electricity generation. In addition, the ongoing COVID-19 pandemic led to a significant reduction in power generation using fossil fuels, while renewable energy exploded in popularity. For instance, while transportation fuels were in lower demand due to reduced mobility during the pandemic, the need for power generation remained same or increased. Governments have also renewed their initiatives towards Decarbonization after initial wave of the pandemic. This created an opportunity for renewable energy sources (Solar and Wind) to expand their use in electricity production.

2. Rising Demand for Cleaner Energy from a Variety of Industry Sectors and Escalating Environmental Issues arising from Carbon Emissions are Major Growth Drivers for Europe's Green Hydrogen market.
The growing climate change concerns and support for environmental, social, and governance (ESG) considerations are driving the demand for renewable energy resources. Several industries and organizations are now adopting techniques to reduce greenhouse gas emissions by substituting renewable fuels for fossil fuels, increasing energy efficiency, and discouraging carbon emissions. 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. In addition, the major key factor was a growth of nearly 7% in electricity generation from renewable sources.
Numerous European companies, including Brambles, The Holcim Group, and 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 Eurostat, a statistical office of the European Union located in Luxembourg, renewable energy sources accounted for 37% of total EU electricity consumption in 2020, up from 34% in 2019. In addition, wind and hydropower accounted for more than two-thirds of total renewable electricity generation (37% and 33%, respectively), while solar power increased from 1% in 2008 to 8% in 2020.

3. The Higher Cost Associated with Hydrogen Fuel Cells is the Most Significant Barrier to Widespread Green Hydrogen Adoption.
Unlike batteries, which are mostly built of raw materials, the most expensive part of a fuel cell is making the fuel cell stack itself, not the materials used to construct it. The cost of constructing and maintaining hydrogen stations must also be lowered for the market to support a hydrogen economy. Presently, the cost of a unit of electricity generated from hydrogen fuel cells is higher compared to other energy sources, including solar panels. It might change as technology advances, but for the time being, the cost of producing hydrogen is a constraint to widespread use, even though it is more efficient once produced. In addition, this cost may have an impact on future costs, including the price of hydrogen-powered vehicles.

For More Information on The Research Report, Refer to Below Link: -

According to the International Council on Clean Transportation (ICCT), an independent nonprofit organization incorporated under Section 501 of the US tax code, a mid-level scenario of the EU average at-the-pump price of onsite renewable hydrogen in 2020 is 11 euros per kg, which is predicted to fall to 5 euros by 2050. In addition, the cost of hydrogen generation is the major contributor to the Levelized price of hydrogen at the pump owing to the increased capital investment in both renewable electricity generation and water electrolysis. With the advancement of both technologies, the price of hydrogen at the pump is expected to fall 30% in 2030 and 50% in 2050 compared to the cost in 2020.

4. Alkaline Electrolyzer dominates the market, accounting for more than half of the revenue share, and will maintain dominance during the forecast period.
Among the technology segments, Alkaline Electrolyzer remained the dominant segment during the 2019-2021 period contributing over half of the market revenue share. Further the Research Study found that this segment is likely to retain dominance even by 2030. Their dominance is owing to the long-term stability and longevity of alkaline electrolysis cells, which can also be stacked in large quantities. In addition, the primary advantage of alkaline technology is that it uses a liquid electro catalyst instead of expensive metal materials.

However, the Solid Oxide Electrolyzer segment is expected to witness the fastest growth during the forecast period at about 45%. The growth is mainly attributed to the increased demand for high temperatures in power-to-x applications as SOEC is carried out at extremely high temperatures, typically 700-1000°C, and repurposing thermal heat energy or waste heat that can significantly improve efficiency by reducing the need for electrical energy.

5. Few Diverse Global Players Dominate the Market Holding more than half of the Market Revenue Share despite Presence of the over 150 Competitors.
The Europe Green Hydrogen Market is highly fragmented in nature with over 150 participants comprising global players (having presence in 2 or more continents), regional players (having presence in multiple countries within Europe), and Country-Niche Players (presence limited to just 1 country or very niche presence in the value chain). Most of Country-Niche's players are renewable energy & equipment suppliers. Some of these who successfully create application-specific solutions often get acquired by large global players seeking to grow & diversify quickly.
However, the Research study found that few major players, such as Linde Plc., Shell Plc., Air Liquide, and Thyssenkrupp investing heavily in R&D to create the best possible solutions and technology to gain a higher market share. In addition, several other players are implementing several strategies to strengthen their position in the hydrogen industry, including M&A, geographical expansion, and collaborations.

Request for Sample Report: -

Key Segments Covered in Europe Green Hydrogen Market: -
Europe Green Hydrogen Market by Technology
• Alkaline Electrolyzer
• Proton Exchange Membrane (PEM) Electrolyzer
• Solid Oxide Electrolyzer

Europe Green Hydrogen Market by Application
• Industrial Processes
• Domestic Energy Systems (Residential Premises, and Commercial Premises)
• Power Grids
• Mobility

Europe Green Hydrogen Market by Generation and Delivery Mode
• Captive
• Merchant (Pipeline/Tube Trailers, Liquid Tanker Trucks, and Ships)

Europe Green Hydrogen Market by Geography
• Germany
• The Netherlands
• Poland
• Italy
• France
• Spain
• Rest of Europe (Belgium, The UK, Denmark, Norway, Sweden, Finland, Portugal, Austria, Romania, and Others

Companies Mentioned in the Report: -
Key Competitors in Europe Green Hydrogen Market
• Linde Plc.
• Shell Plc.
• Air Products and Chemicals Inc.
• Air Liquide
• Thyssenkrupp AG
• Nel ASA
• Siemens Energy AG
• Schaeffler Group
• Toshiba Energy Systems & Solutions Corporation
• Ballard Power Systems
• Plug Power Inc.
• Bloom Energy

Notable Emerging Companies Mentioned in the Report
• Quantron AG
• SunFire GmbH
• Nedstack Fuel Cell Technology BV
• Hymove
• Gasunie
• Ampere Life
• Industrie De Nora S.p.A.
• Ansaldo Energia
• Snam
• McPhy Energy S.A.
• Lhyfe
• H2V
• Iberdrola, S.A.
• Engages S.A.
• Respol S.A.

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)

Key Topics Covered in the Report: -
• Snapshot of Europe Green Hydrogen Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of Europe Green Hydrogen Market
• Historic Growth of Overall Europe Green Hydrogen Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter's 5 Forces Analysis of Europe Green Hydrogen Industry
• Overview, Product Offerings, and SWOT Analysis of Key Competitors
• Covid 19 Impact on the Overall Europe Green Hydrogen Market
• Future Market Forecast and Growth Rates of the Total Europe Green Hydrogen Market and by Segments
• Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
• Analysis of Green Hydrogen Market in Major European Countries
• Major Production / Consumption Hubs in the Major European Countries
• Major Production/Supply and Consumption/Demand Hubs in Each Major Country
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Major Country

Related Report: -

Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications

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.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release 5 Key Insights on $14 Bn Opportunity in Europe Green Hydrogen Market: Ken Research here

News-ID: 2758309 • Views: 602

More Releases from Ken Research

The Malaysia Quick Commerce Market is growing owing to Internet and Smartphone p …
Focus on high internet penetration rate, the 'Go-ecommerce Onboarding campaign', driven by increasing requirement of convenient and hassle-free experience Are Major Factor Contributing towards development of Quick Commerce Market in Malaysia. Gen Z and Unplanned Purchase Driving the Market: Increased affinity of online and Gen-Z customers towards top-up and indulgence purchases driving the segment. In addition to this, the rising unplanned online ordering behavior from metro and tier I cities is
The Facilities Management market in the United Arab Emirates is in the growth ph …
Cloud based system: The Facilities Management Companies offers advanced cloud-based solutions with everything being recorded. These are software like Computer Aided Facilities Management (CAFM) which are especially useful in commercial spaces. It provides detailed information about the available space and information on how it can be utilized more efficiently. It also gives information about areas within the facility that are underutilized. This way you can plan a better layout for
Philippines Industrial Waste Water Treatment Market is expected to generate $46. …
Market Insight The report titled "Philippines Industrial Waste Water Treatment Market Outlook to 2026F-Driven by the rising number of industries within the countries and governments initiatives." by Ken Research provides a comprehensive analysis of the potential of Waste Water Treatment industry in Philippines. The report also covers overview and genesis of the industry, market size in terms of revenue generated; market segmentation by order intake, by regions, by Industries; growth enablers
3 Key Insights on Competitive Landscape in Global Quantum Computing Market: Ken …
Few Diverse Global Players Dominate the Market Holding ~45% of Revenue Share Despite the Presence of about ~200 competitors comprising a Large Number of Country-Niche Players and Regional Players, finds a recent market study on Global Quantum Computing Market by Ken Research. Quantum computing is a branch of computer science that uses quantum theory ideas. It is a cutting-edge technology that is quickly taking off that uses quantum mechanics to solve

All 5 Releases

More Releases for Hydrogen

Future Growth: Hydrogen Fuel Cell Drone Market Sees Promising Growth in 2022 Pea …
Worldwide "Hydrogen Fuel Cell Drone Market" 2022 Research Report presents a professional and complete analysis of the Global Hydrogen Fuel Cell Drone Market in the current situation. This report includes development plans and policies along with Hydrogen Fuel Cell Drone manufacturing processes and price structures. the reports 2022 research report offers an analytical view of the industry by studying different factors like Hydrogen Fuel Cell Drone Market growth, consumption volume,
Hydrogen Station (Hydrogen Fueling Station ) Market 2022 | Detailed Report
Global Hydrogen Station (Hydrogen Fueling Station ) Market 2021-2027, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team. Download FREE Sample Report @
Hydrogen Energy Market 2020-28 infinite chains of hydrogen atoms holds surprisin …
Hydrogen energy involves the use of hydrogen and/or hydrogen-containing compounds to generate energy to be supplied to all practical uses needed with high energy efficiency, overwhelming environmental and social benefits, as well as economic competitiveness. Hydrogen is most commonly used in petroleum refining and fertilizer production, while transportation and utilities are emerging markets. The Global Hydrogen Energy Market report clutch an inspection of main considerations fundamental for the overarching market players
Increasing Use of Hydrogen Storage Tanks in Transportation Sector Driving Hydrog …
The hydrogen storage market is predicted to register substantial growth in the coming years, which is attributed to the increasing usage of hydrogen storage tanks in the transportation sector, rising requirement for low emission fuels, and growing consumption of ammonia and methanol across the world. As per the U.S. Department of Energy, hydrogen storage is considered as a major enabling technology for the advancements of hydrogen and fuel cell technologies
Global Hydrogen Electrolyzer Market to 2025| Nel Hydrogen, McPhy, Hydrogenics, T …
Researchmoz added Most up-to-date research on "Global Hydrogen Electrolyzer Market Insights, Forecast to 2025" to its huge collection of research reports. Hydrogen, used across various industrial applications such as chemicals, electronics, glass, etc., is produced both as a principal product and a by-product. More than 90% of total hydrogen demand across the globe depends upon fossil fuel based resources. Only a small fraction of this demand is met by hydrogen produced
Hydrogen Electrolyzers Market Outlook, Growth by Top Company: Nel Hydrogen, McPh …
The global hydrogen electrolyzer market is poised to witness significant growth and is expected to develop across key regions worldwide in the years to come. Future Market Insights has put forth a spectacular snapshot of the entire hydrogen electrolyzer market in its new research publication – “Hydrogen Electrolyzer Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017–2027”. The research study stresses on the various developments, trends, opportunities, drivers and restraints