Europe Green Hydrogen Market Share, Revenue, Trends, Growth Drivers, Challenges, Opportunities and Future Investment Strategies Till 2033


Europe Green Hydrogen Market Share, Revenue, Trends, Growth Drivers, Challenges, Opportunities and Future Investment Strategies Till 2033: SPER Market Research

 Category : Power & Energy

 Published: Jul-2024
 Author: SPER Analyst

Europe Green Hydrogen Market is projected to be worth USD 38.65 billion by 2033 and is anticipated to surge at a CAGR of 40.28%.

The phrase "green hydrogen" refers to hydrogen gas generated through electrolysis using sustainable energy sources, such as wind or solar energy. It is regarded as "green" because, in contrast to conventional techniques that depend on fossil fuels, the production process produces no greenhouse gas emissions. Using an electric current, water molecules (H2O) are separated into oxygen (O2) and hydrogen (H2) by the process of electrolysis. Green hydrogen is an environmentally friendly and sustainable fuel option because the electricity needed in the process comes from renewable energy sources.

Europe Green Hydrogen Market Driving Factors and Challenges

Drivers: The industry is growing because of government subsidies, which are essential in supporting green hydrogen activities. For example, the National Hydrogen Strategy of Germany provides funding for hydrogen-related projects. In a similar vein, tax credits are offered by the US for the generation of hydrogen and financing infrastructural projects. These subsidies not only lower businesses' financial hurdles but also demonstrate the government's commitment to transforming the hydrogen economy into a sustainable one, which propels market growth. Green hydrogen is a flexible energy source that provides a long-term way to reduce carbon emissions in industries that have historically relied on fossil fuels. Market expansion prospects are enormous due to its potential as a clean substitute for energy storage, industrial operations, and automotive fuel.

Challenges: The effective distribution and transportation of green hydrogen are hampered in the absence of a strong network of pipelines, terminals, and storage facilities. This hinders broad adoption in a number of industries, including transportation, manufacturing, and energy storage, by limiting accessibility and availability. In addition, a lack of infrastructure hinders the development of the hydrogen economy by slowing down investment and market expansion, which in turn prevents the economy from reaching its full potential. Growth and investment in the market may be impeded by interoperability and compatibility problems in the absence of globally recognized standards for manufacturing, storage, and dissemination. Furthermore, doubts about the quality and safety of products may arise from the lack of trustworthy certification procedures. This inconsistent approach may discourage customers and investors from participating in green hydrogen technology, hence hindering its broader acceptance and commercial growth.

Impact of COVID-19 on Europe Green Hydrogen Market
The COVID-19 pandemic presented the European green hydrogen industry with both potential and problems. Early on in the pandemic, regional green hydrogen project implementation was hampered by logistical issues and supply chain delays. The economic crisis's financial consequences also affected the flow of capital into green hydrogen and other renewable energy projects. Despite these challenges, sustainable energy solutions and robust energy supply chains are becoming more and more crucial.

Europe Green Hydrogen Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Air Liquide, Air Products and Chemicals Inc., Ballard Power Systems, Bloom Energy, Linde Plc., Nel ASA, Plug Power Inc., Schaeffler AG, Shell Plc., Siemens Energy, Thyssenkrupp AG, Toshiba Energy Systems & Solutions Corporation, and Others.

Europe Green Hydrogen Market Segmentation:

By Type: Based on the Type, Europe Green Hydrogen Market is segmented as; Alkaline Electrolyzer, Proton Exchange Membrane (PEM) Electrolyzer, Solid Oxide Electrolyzer.

By Application: Based on the Application, Europe Green Hydrogen Market is segmented as; Industrial Processes, Domestic Energy Systems (Residential Premises, and Commercial Premises) Power Grids, Mobility.

By Generation and Delivery Mode: Based on the Generation and Delivery Mode, Europe Green Hydrogen Market is segmented as; Captive, Merchant (Pipeline/Tube Trailers, Liquid Tankers, Trucks, and Ships.

By Region: This research also includes data for Germany, The Netherlands, Poland, Italy, France, Spain, Rest of Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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