Press Release

Europe Green Hydrogen Market is Expected to Witness a CAGR of 31.25% in the Forecast Period (2024-2030)

The Europe Green Hydrogen Market is projected to grow at a CAGR of 31.25% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The market growth is driven by advancements in the green hydrogen sector pushed by the crucial demand for hydrogen as a key energy source across various industries. Hydrogen is widely used in fertilizer production for agriculture, refining for petrochemicals & chemicals, and the food processing sector, among others. Furthermore, the increasing global population and soaring urbanization have propelled the consistent need for hydrogen as an important energy source in these industries.

Nevertheless, the carbon emissions generated during traditional hydrogen production from fossil fuels to meet this demand have been raising the need for low-carbon energy sources. Consequently, governments across Europe, in collaboration with private entities, have invested in developing technologies and implementing strategies to mitigate emissions and safeguard the environment. Thus, the national governments in the region are prioritizing initiatives to transition from non-renewable sources of energy to renewable alternatives.

Moreover, countries like Germany, France, the Netherlands, Spain, the UK, and several others have taken the lead in developing and transitioning to “A Hydrogen Economy”. The national governments have formulated elaborative plans to establish green hydrogen production infrastructure, integrate green hydrogen into the existing energy supply, and ultimately shift towards maximum utilization of green hydrogen across various sectors including power generation, complete transportation, industrial feedstock, and energy storage. Therefore, these significant initiatives undertaken by national governments are expected to further propel the growth of the market in the coming years, further states the research report, “Europe Green Hydrogen Market Analysis, 2024.”

Europe Green Hydrogen Market Segmentation Analysis

Alkaline Electrolyzer Segment Expected to Hold Major Market Share

Based on electrolyzer technology, the market is fragmented into Proton Exchange Membrane (PEM), Alkaline Electrolyzer, Solid Oxide Electrolyzer, and Others. Of all, the Alkaline Electrolyzer is anticipated to account for the majority of the market share in the forthcoming years. It is the most proven and extensively utilized technology across Europe, which is known for its capacity to reliably produce hydrogen on a large scale. The alkaline electrolyzer offers a better lifecycle compared to its counterparts and demonstrates enhanced efficiency in large-scale production settings as well as requires lower initial capital investments in comparison with other electrolyzer technologies available in the market. European nations have extensively adopted alkaline electrolyzers in their ambitious green hydrogen initiatives.

Germany Expected to Hold Major Market Share

Geographically, Germany is poised to dominate the European Green Hydrogen Market in the forthcoming future, supported by notable investments in large-scale renewable hydrogen production projects, government support, strategic initiatives, and international collaborations for the import of low-carbon hydrogen. Being the highest carbon emitter due to its prominent industrial facilities including steel, cement, automotive, heavy engineering, and chemicals sectors, the country is required to transition towards low-carbon energy sources, thus becoming one of the prominent country across the Europe Green Hydrogen Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, Electrolyzer Technology Providers: Accelera, McPhy Energy, Stiestdal A/S, Siemens, Thyssenkrupp, and others, Renewable Power Generation Solution Providers: Iberdrola, BayWa r.e., Enel Green Power, Ørsted, Statkraft, and others, Green Hydrogen Manufacturing Companies: EDF Renewables, Air Liquide, Linde, Air Products, Shell Plc, Total Energies, and others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Europe Green Hydrogen Market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?