PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1428530
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1428530
Europe Green Hydrogen Market, By Technology ; By Renewable Source ; By End User ; By Country, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
Europe Green Hydrogen Market Size Zooming 15X at Robust CAGR of 48% to Touch USD 3 Billion by 2030
Europe Green Hydrogen Market is flourishing due to the growing momentum in investments, growing global awareness about energy security, and an increasing emphasis on climate change goals.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Europe Green Hydrogen Market size at USD 189.89 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Europe Green Hydrogen Market size to boom at a robust CAGR of 47.95% reaching a value of USD 2,946.16 million by 2030. The Europe Green Hydrogen Market is propelled by an increasingly high demand for sustainable energy solutions. Green hydrogen, generated through electrolysis using renewable sources like solar and wind power, serves as a clean alternative to traditional fuels. Its popularity is escalating due to its capacity to significantly reduce carbon emissions, meeting the burgeoning expectations for eco-friendly fuels and positioning itself as a long-term replacement for fossil fuels. In Europe, heightened environmental concerns and a demand for cleaner energy across various industrial sectors further drive the market. With the continent's commitment to decarbonization, green hydrogen, easily transportable through pipelines, assumes a strategic role. Collaborative efforts and initiatives like the European Hydrogen Bank and the REPowerEU plan underscore a commitment to fair competition and the promotion of renewable hydrogen. Also, the green hydrogen demand is expected to expand at a high CAGR, driven by significant applications in fuel, chemical feedstock, and a rising demand from the refining and iron & steel industry. A surge in demand for green hydrogen is expected over the forecast period.
Impact of Geopolitical Tensions on Europe Green Hydrogen Market
Europe Green Hydrogen Market is impacted by geopolitical tensions in several ways. The recent invasion of Ukraine has highlighted Europe's vulnerability to Russian oil and gas dependencies, prompting urgent measures to diversify energy sources. In response, the European Union has unveiled plans to reduce reliance on Russian gas, with hydrogen emerging as a pivotal element in this strategy. Hydrogen, as an energy carrier, holds the promise of providing a clean alternative in industries difficult to decarbonize. While the push for green hydrogen is gaining momentum, challenges persist, including the dominance of fossil fuel-derived hydrogen. The geopolitical landscape is shifting, and the evolving energy trade dynamics are expected to significantly impact the Europe Green Hydrogen Market, making it a crucial element in Europe's quest for energy security and independence. The global transition to a low-carbon economy, spurred by recent events like Russia-Ukraine war, has significant implications for energy value chains. Green hydrogen, with its versatility, gains economic and political momentum and is poised to play a crucial role in achieving a carbon-free future. Current challenges to green hydrogen adoption, such as limited infrastructure and cost concerns, are being reshaped by recent spikes in fossil fuel prices. While green hydrogen is becoming cost-competitive with blue and grey hydrogen, the International Renewable Energy Agency (IRENA) forecasts a substantial decline in green hydrogen costs by up to 85% by 2050, making it a crucial element in Europe's quest for energy security and independence.
Europe Green Hydrogen Market
Segmental Information
Europe Green Hydrogen Market - By Technology
Based on technology, the Europe Green Hydrogen Market is bifurcated into Alkaline Electrolysis and PEM Electrolysis segments. The alkaline electrolysis segment holds a higher share in the Europe Green Hydrogen Market by technology. Alkaline electrolysis exhibits an efficiency exceeding 70%, ensuring hydrogen gas purity at 99.5%. The technology is widely employed for electrolytic hydrogen production, resulting in exceptionally pure hydrogen and oxygen at 99.99%. The operational principle involves the transport of hydroxide ions (OH-) from the cathode to the anode within the electrolyte. The production of green hydrogen occurs at the cathode side. Commercially available for an extended period, alkaline electrolysis have established their presence in the market, providing a reliable means of generating high-purity hydrogen through the electrolysis process.
Europe Green Hydrogen Market - By Country
The in-depth research report on the Europe Green Hydrogen Market covers the market in the region's major countries including Germany, United Kingdom, Italy, France, Spain, Belgium, Russia, the Netherlands, and Rest of Europe. Germany dominates the Europe Green Hydrogen Market and is expected to maintain its dominance over the forecast period. The changing regulatory environment, initiation of novel projects, and strategic commercial collaborations, coupled with a widespread adoption of energy efficiency objectives, will drive the integration of hydrogen across diverse sectors. Increased research and development initiatives, coupled with the expansion of large-scale and low-carbon hydrogen and ammonia projects, will contribute to the establishment of an emission-free economy. The significant abundance of renewable resources, particularly wind and solar, along with the expanding electric vehicle fleet in the country, is expected to have a positive impact on market trends.
Competitive Landscape
The Europe Green Hydrogen Market is fragmented, with numerous players serving the market. The key players dominating the Europe Green Hydrogen Market include Siemens Energy, NEL ASA, ITM Power, McPhy Energy, Ørsted, Engie, Hynamics (EDF Group), and Covestro. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Europe Green Hydrogen Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Europe Green Hydrogen Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Technology Overview
- 1.3. Market Segmentation
2. Executive Summary
3. Europe Green Hydrogen Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Climate change goals
- 3.2.1.2. Energy security concerns
- 3.2.1.3. Increasing investments
- 3.2.2. Restraints
- 3.2.2.1. High production costs
- 3.2.2.2. Lack of infrastructure
- 3.2.3. Opportunities
- 3.2.3.1. Export potential
- 3.2.3.2. New job creation
- 3.2.4. Challenges
- 3.2.4.1. Addressing public concerns
- 3.2.4.2. Developing a harmonized regulatory framework
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. Europe Green Hydrogen Market: Market Overview
5. Europe Green Hydrogen Market Overview
- 5.1. Market Size & Forecast, 2019-2030
- 5.1.1. By Value (USD Million)
- 5.2. Market Share and Forecast
- 5.2.1. By Technology
- 5.2.1.1. Alkaline Electrolysis
- 5.2.1.2. PEM Electrolysis
- 5.2.2. By Renewable Source
- 5.2.2.1. Wind Energy
- 5.2.2.2. Solar Energy
- 5.2.2.3. Others
- 5.2.3. By End User
- 5.2.3.1. Mobility
- 5.2.3.2. Chemical
- 5.2.3.3. Power
- 5.2.3.4. Grid Injection
- 5.2.3.5. Industrial
- 5.2.3.6. Others
- 5.2.4. By Country
- 5.2.4.1. Germany
- 5.2.4.2. United Kingdom
- 5.2.4.3. Italy
- 5.2.4.4. France
- 5.2.4.5. Spain
- 5.2.4.6. Belgium
- 5.2.4.7. Russia
- 5.2.4.8. The Netherlands
- 5.2.4.9. Rest of Europe
- 5.2.1. By Technology
6. Germany Green Hydrogen Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Technology
- 6.2.2. By Renewable Source
- 6.2.3. By End User
7. United Kingdom Green Hydrogen Market Overview
- 7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Technology
- 7.2.2. By Renewable Source
- 7.2.3. By End User
8. Italy Green Hydrogen Market Overview
- 8.1. Market Size & Forecast, 2019-2030
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Technology
- 8.2.2. By Renewable Source
- 8.2.3. By End User
9. France Green Hydrogen Market Overview
- 9.1. Market Size & Forecast, 2019-2030
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Technology
- 9.2.2. By Renewable Source
- 9.2.3. By End User
10. Spain Green Hydrogen Market Overview
- 10.1. Market Size & Forecast, 2019-2030
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Technology
- 10.2.2. By Renewable Source
- 10.2.3. By End User
11. Belgium Green Hydrogen Market Overview
- 11.1. Market Size & Forecast, 2019-2030
- 11.1.1. By Value (USD Million)
- 11.2. Market Share & Forecast
- 11.2.1. By Technology
- 11.2.2. By Renewable Source
- 11.2.3. By End User
12. Russia Green Hydrogen Market Overview
- 12.1. Market Size & Forecast, 2019-2030
- 12.1.1. By Value (USD Million)
- 12.2. Market Share & Forecast
- 12.2.1. By Technology
- 12.2.2. By Renewable Source
- 12.2.3. By End User
13. The Netherlands Green Hydrogen Market Overview
- 13.1. Market Size & Forecast, 2019-2030
- 13.1.1. By Value (USD Million)
- 13.2. Market Share & Forecast
- 13.2.1. By Technology
- 13.2.2. By Renewable Source
- 13.2.3. By End User
14. Rest of Europe Green Hydrogen Market Overview
- 14.1. Market Size & Forecast, 2019-2030
- 14.1.1. By Value (USD Million)
- 14.2. Market Share & Forecast
- 14.2.1. By Technology
- 14.2.2. By Renewable Source
- 14.2.3. By End User
15. Competitive Landscape
- 15.1. List of Key Players and Their Offerings
- 15.2. Europe Green Hydrogen Market Share Analysis, 2023
- 15.3. Competitive Benchmarking, By Operating Parameters
- 15.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
16. Impact of Escalating Geopolitical Tensions on Europe Green Hydrogen Market
17. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 17.1. Siemens Energy
- 17.2. NEL ASA
- 17.3. ITM Power
- 17.4. McPhy Energy
- 17.5. Ørsted
- 17.6. Engie
- 17.7. Hynamics (EDF Group)
- 17.8. Covestro
- 17.9. Other Prominent Players
18. Key Strategic Recommendations
19. Research Methodology
- 19.1. Qualitative Research
- 19.1.1. Primary & Secondary Research
- 19.2. Quantitative Research
- 19.3. Market Breakdown & Data Triangulation
- 19.3.1. Secondary Research
- 19.3.2. Primary Research
- 19.4. Breakdown of Primary Research Respondents, By Region
- 19.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
- Figure 1 Europe Green Hydrogen Segmentation
- Figure 2 Europe Green Hydrogen Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 Europe Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Figure 5 Europe Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Figure 6 Europe Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Figure 7 Europe Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Figure 8 Germany Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Figure 9 Germany Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Figure 10 Germany Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Figure 11 Germany Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Figure 12 United Kingdom Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Figure 13 United Kingdom Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Figure 14 United Kingdom Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Figure 15 United Kingdom Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Figure 16 Italy Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Figure 17 Italy Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Figure 18 Italy Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Figure 19 Italy Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Figure 20 France Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Figure 21 France Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Figure 22 France Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Figure 23 France Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Figure 24 Spain Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Figure 25 Spain Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Figure 26 Spain Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Figure 27 Spain Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Figure 28 Belgium Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Figure 29 Belgium Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Figure 30 Belgium Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Figure 31 Belgium Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Figure 32 Russia Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Figure 33 Russia Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Figure 34 Russia Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Figure 35 Russia Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Figure 36 The Netherlands Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Figure 37 The Netherlands Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Figure 38 The Netherlands Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Figure 39 The Netherlands Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Figure 40 Rest of Europe Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Figure 41 Rest of Europe Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Figure 42 Rest of Europe Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Figure 43 Rest of Europe Green Hydrogen Market Share, By End User, By Value, 2019-2030
List of Tables
- Table 1 Europe Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Table 2 Europe Green Hydrogen Market Size, By Technology, By Value, 2019-2030
- Table 3 Europe Green Hydrogen Market Size, By Renewable Source, By Value, 2019-2030
- Table 4 Europe Green Hydrogen Market Size, By End User, By Value, 2019-2030
- Table 5 Germany Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Table 6 Germany Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Table 7 Germany Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Table 8 Germany Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Table 9 United Kingdom Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Table 10 United Kingdom Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Table 11 United Kingdom Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Table 12 United Kingdom Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Table 13 Italy Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Table 14 Italy Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Table 15 Italy Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Table 16 Italy Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Table 17 France Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Table 18 France Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Table 19 France Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Table 20 France Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Table 21 Spain Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Table 22 Spain Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Table 23 Spain Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Table 24 Spain Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Table 25 Belgium Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Table 26 Belgium Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Table 27 Belgium Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Table 28 Belgium Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Table 29 Russia Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Table 30 Russia Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Table 31 Russia Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Table 32 Russia Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Table 33 The Netherlands Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Table 34 The Netherlands Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Table 35 The Netherlands Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Table 36 The Netherlands Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Table 37 Rest of Europe Green Hydrogen Market Size, By Value (USD Million), 2019-2030
- Table 38 Rest of Europe Green Hydrogen Market Share, By Technology, By Value, 2019-2030
- Table 39 Rest of Europe Green Hydrogen Market Share, By Renewable Source, By Value, 2019-2030
- Table 40 Rest of Europe Green Hydrogen Market Share, By End User, By Value, 2019-2030
- Table 41 Siemens Energy Company Overview
- Table 42 Siemens Energy Financial Overview
- Table 43 NEL ASA Company Overview
- Table 44 NEL ASA Financial Overview
- Table 45 ITM Power Company Overview
- Table 46 ITM Power Financial Overview
- Table 47 McPhy Energy Company Overview
- Table 48 McPhy Energy Financial Overview
- Table 49 Ørsted Company Overview
- Table 50 Ørsted Financial Overview
- Table 51 Engie Company Overview
- Table 52 Engie Financial Overview
- Table 53 Hynamics (EDF Group) Company Overview
- Table 54 Hynamics (EDF Group) Financial Overview
- Table 55 Covestro Company Overview
- Table 56 Covestro Financial Overview
- Table 57 Other Prominent Players Company Overview
- Table 58 Other Prominent Players Financial Overview
