Europe Green Hydrogen Market Forecast to 2030
Europe Green Hydrogen Market Forecast to 2030 – Regional Analysis – by Technology (Alkaline Electrolysis and PEM Electrolysis), Renewable Source (Wind Energy and Solar Energy), and End-Use Industry (Chemical, Power, Food & Beverages, Medical, Petrochemicals, and Others)
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Description
Growing Investment in Renewable Energy Fuels Europe Green Hydrogen Market
According to the International Energy Agency (IEA), in 2022, the global energy demand will increase by 8%. Investments in cleaner technologies are significantly growing due to a structural shift in capital flows toward such technologies. For instance, according to the Solar Power Organization of Europe, Europe installed 41.4 GW of solar plants in 2022, showcasing an increase of 47% from 2021. To achieve net-zero emissions, there is a growing focus on expanding renewable energy capacity and integrating it into the energy mix. Green hydrogen provides a means to store and utilize excess renewable energy, especially from intermittent sources such as solar and wind. This synergy between renewable energy and green hydrogen supports the development of a sustainable and reliable energy system. Thus, the increasing investments in renewable energy are contributing to the growth of the green hydrogen market.
Europe Green Hydrogen Market Overview
Since Russia’s invasion of Ukraine, the hydrogen sector has gained significant importance in Europe due to the need for energy security and the EU’s commitment to achieving net zero emissions. As the world’s second-largest producer of natural gas, Russia plays a critical role in global hydrogen production, which has prompted the European Union to reevaluate its energy supply chains and reduce dependence on Russian fossil fuels. Renewable hydrogen has become a central focus of the EU’s REPowerEU Plan, aimed at phasing out Russian fossil fuels as quickly as possible. By 2030, the EU aims to cut emissions by 55% compared to 1990 levels, and green hydrogen is a crucial component of this effort.
To bolster energy security and meet emission reduction goals, the EU has proposed producing 10 million metric tons of renewable hydrogen domestically and importing an additional 10 million metric tonnes by 2030. Several European countries, including Spain, France, Germany, and Portugal, have taken steps to cooperate and build a hydrogen pipeline by 2030. This pipeline will facilitate the transportation of ~2 million metric tonnes of hydrogen annually from these countries to France. As Europe looks to secure its energy supply and accelerate the transition to a carbon-neutral future, green hydrogen emerges as a vital resource and a key solution to reduce reliance on fossil fuels and achieve ambitious climate targets.
Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Europe Green Hydrogen Market Segmentation
The Europe green hydrogen market is segmented into technology, renewable source, end-use industry, and country.
Based o n technology, the Europe green hydrogen market is bifurcated into alkaline electrolysis and PEM electrolysis. The alkaline electrolysis segment accounted a larger share of the Europe green hydrogen market in 2022.
By renewable source, the Europe green hydrogen market is divided into wind energy and solar energy. The solar energy segment held a larger share of the Europe green hydrogen market in 2022.
By end use, the Europe green hydrogen market is segmented into chemical, power, food and beverages, medical, petrochemicals, and others. In 2022, the power segment held a largest share of the Europe green hydrogen market.
Based on country, the Europe green hydrogen market is segmented int o Germany, France, Italy, the UK, Russia, Spain, and the Rest of Europe. Germany dominated the Europe green hydrogen market in 2022.
Air Products & Chemicals Inc, Cummins Inc, Engie SA, L’Air Liquide SA, Linde Plc, Nel ASA, Orsted AS, Siemens Energy AG, Toshiba Energy Systems & Solutions Corp, and Uniper SE are some of the leading companies operating in the Europe green hydrogen market.
Summary Info
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According to the research team’ research, the Europe green hydrogen market was valued at US$ 1,456.82 million in 2022 and is expected to reach US$ 29,146.42 million by 2030 registering a CAGR of 45.4% from 2022 to 2030. Rising global plans for net-zero emission by 2050, increasing investments in green hydrogen projects, and increasing demand for FCEV are among the critical factors attributed to the Europe green hydrogen market expansion.
Governments of various across the globe are recognizing the potential of green hydrogen as a clean and sustainable energy solution. They are taking proactive measures to support its development and deployment across various sectors. The increasing focus on decarbonization and climate change mitigation is prompting governments to prioritize investments in green hydrogen as a means to reduce carbon emissions. For instance, in June 2022, Protium, one of the leading green hydrogen energy companies in the UK that provides end-to-end net-zero energy solutions. Thus, increasing investments in green hydrogen projects are expected to create lucrative opportunities for market expansion in the coming years.
On the contrary, high cost of green hydrogen and associated products and lack of infrastructure hampers the Europe green hydrogen market .
Based on technology, the Europe green hydrogen market is bifurcated into alkaline electrolysis and PEM electrolysis. The alkaline electrolysis segment held 61.2% share of Europe green hydrogen market in 2022, amassing US$ 890.91 million. It is projected to garner US$ 17,121.63 million by 2030 to expand at 44.7% CAGR during 2022–2030.
By renewable source, the Europe green hydrogen market is divided into wind energy and solar energy. The solar energy segment held 67.8% share of Europe green hydrogen market in 2022, amassing US$ 987.28 million. It is projected to garner US$ 19,060.15 million by 2030 to expand at 44.8% CAGR during 2022–2030.
Based on end use, the Europe green hydrogen market is segmented into chemical, power, food & beverages, medical, petrochemicals, and others. The power segment held 36.2% share of Europe green hydrogen market in 2022, amassing US$ 527.26 million. It is projected to garner US$ 11,328.56 million by 2030 to expand at 46.7% CAGR during 2022–2030.
Based on country, the Europe green hydrogen market is segmented into Germany, France, Italy, the UK, Russia, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 50.4% share of Europe green hydrogen market in 2022. It was assessed at US$ 734.33 million in 2022 and is likely to hit US$ 15,797.36 million by 2030 exhibiting a CAGR of 46.8% CAGR during 2022–2030.
Key players operating the Europe green hydrogen market Air Products & Chemicals Inc, Cummins Inc, Engie SA, L’Air Liquide SA, Linde Plc, Nel ASA, Orsted AS, Siemens Energy AG, Toshiba Energy Systems & Solutions Corp, and Uniper SE, among others.
In 2023, The European Commission presented initiatives to increase the speed and scale-up of the renewable hydrogen industry.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe green hydrogen market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Europe green hydrogen market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 The Research Team Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Green Hydrogen Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Renewable Energy Sources:
4.3.2 Green Hydrogen Producers:
4.3.3 Green Hydrogen Distributors:
4.3.4 End Users or Consumers:
5. Europe Green Hydrogen Market – Key Industry Dynamics
5.1 Key Market Drivers:
5.1.1 Rising Global Plans for Net-zero Emission by 2050
5.1.2 Growing Investment in Renewable Energy
5.1.3 Increasing Demand for FCEV
5.2 Key Market Restraints:
5.2.1 High Cost of Green Hydrogen and Associated Products
5.2.2 Lack of Infrastructure
5.3 Key Market Opportunities:
5.3.1 Increasing Investment in Green Hydrogen Projects
5.3.2 Growing Establishment of Large Green Hydrogen Plants
5.4 Future Trend:
5.4.1 Technological Advancements in Green Hydrogen
5.5 Impact of Drivers and Restraints:
6. Green Hydrogen Market – Europe Market Analysis
6.1 Europe Green Hydrogen Market Share, By Region (%), 2020 and 2030
6.2 Europe Green Hydrogen Market Revenue (US$ Mn), 2020 – 2030
7. Europe Green Hydrogen Market Analysis – End-Use Industry
7.1 Overview
7.2 Europe Green Hydrogen Market Revenue Share, By End-Use Industry (2022 and 2030)
7.3 Chemicals
7.3.1 Overview
7.3.2 Chemicals: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.4 Power
7.4.1 Overview
7.4.2 Power: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.5 Food and Beverages
7.5.1 Overview
7.5.2 Food and Beverages: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.6 Medical
7.6.1 Overview
7.6.2 Medical: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.7 Petrochemicals
7.7.1 Overview
7.7.2 Petrochemicals: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
8. Europe Green Hydrogen Market Analysis – Renewable Source
8.1 Overview
8.2 Europe Green Hydrogen Market Revenue Share, By Renewable Source (2022 and 2030)
8.3 Wind Energy
8.3.1 Overview
8.3.2 Wind Energy: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
8.4 Solar Energy
8.4.1 Overview
8.4.2 Solar Energy: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
9. Europe Green Hydrogen Market Analysis – Technology
9.1 Overview
9.2 Europe Green Hydrogen Market Revenue Share, By Technology (2022 and 2030)
9.3 Alkaline Electrolysis
9.3.1 Overview
9.3.2 Alkaline Electrolysis: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
9.4 PEM Electrolysis
9.4.1 Overview
9.4.2 PEM Electrolysis: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
10. Europe Green Hydrogen Market – Country Analysis
10.1 Overview
10.1.1 Europe Green Hydrogen Market, by Key Country
10.1.1.1 Germany: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.1.1 Germany: Europe Green Hydrogen Market, By End-Use Industry
10.1.1.1.2 Germany: Europe Green Hydrogen Market, By Renewable Source
10.1.1.1.3 Germany: Europe Green Hydrogen Market, By Technology
10.1.1.2 France: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.2.1 France: Europe Green Hydrogen Market, By End-Use Industry
10.1.1.2.2 France: Europe Green Hydrogen Market, By Renewable Source
10.1.1.2.3 France: Europe Green Hydrogen Market, By Technology
10.1.1.3 Italy: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.3.1 Italy: Europe Green Hydrogen Market, By End-Use Industry
10.1.1.3.2 Italy: Europe Green Hydrogen Market, By Renewable Source
10.1.1.3.3 Italy: Europe Green Hydrogen Market, By Technology
10.1.1.4 UK: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.4.1 UK: Europe Green Hydrogen Market, By End-Use Industry
10.1.1.4.2 UK: Europe Green Hydrogen Market, By Renewable Source
10.1.1.4.3 UK: Europe Green Hydrogen Market, By Technology
10.1.1.5 Russia: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.5.1 Russia: Europe Green Hydrogen Market, By End-Use Industry
10.1.1.5.2 Russia: Europe Green Hydrogen Market, By Renewable Source
10.1.1.5.3 Russia: Europe Green Hydrogen Market, By Technology
10.1.1.6 Spain: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.6.1 Spain: Europe Green Hydrogen Market, By End-Use Industry
10.1.1.6.2 Spain: Europe Green Hydrogen Market, By Renewable Source
10.1.1.6.3 Spain: Europe Green Hydrogen Market, By Technology
10.1.1.7 Rest of Europe: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.7.1 Rest of Europe: Europe Green Hydrogen Market, By End-Use Industry
10.1.1.7.2 Rest of Europe: Europe Green Hydrogen Market, By Renewable Source
10.1.1.7.3 Rest of Europe: Europe Green Hydrogen Market, By Technology
11. Competitive Landscape
11.1 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
13. Company Profiles
13.1 L’Air Liquide SA
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Siemens Energy AG
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Cummins Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Linde Plc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Nel ASA
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Orsted AS
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Toshiba Energy Systems & Solutions Corp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Uniper SE
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Engie SA
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Air Products & Chemicals Inc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 Appendix
LIST OF TABLES
Table 1. Europe Green Hydrogen Market Segmentation
Table 2. Europe Green Hydrogen Market Revenue and Forecasts To 2030 (US$ Mn)
Table 3. Europe Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 4. Europe Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 5. Europe Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 6. Germany: Europe Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 7. Germany: Europe Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 8. Germany: Europe Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 9. France: Europe Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 10. France: Europe Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 11. France: Europe Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 12. Italy: Europe Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 13. Italy: Europe Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 14. Italy: Europe Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 15. UK: Europe Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 16. UK: Europe Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 17. UK: Europe Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 18. Russia: Europe Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 19. Russia: Europe Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 20. Russia: Europe Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 21. Spain: Europe Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 22. Spain: Europe Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 23. Spain: Europe Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
Table 24. Rest of Europe: Europe Green Hydrogen Market, By End-Use Industry – Revenue and Forecast to 2030 (US$ Million)
Table 25. Rest of Europe: Europe Green Hydrogen Market, By Renewable Source – Revenue and Forecast to 2030 (US$ Million)
Table 26. Rest of Europe: Europe Green Hydrogen Market, By Technology – Revenue and Forecast to 2030 (US$ Million)
LIST OF FIGURES
Figure 1. Europe Green Hydrogen Market Segmentation, By Country
Figure 2. Europe Green Hydrogen Market – PEST Analysis
Figure 3. Europe Green Hydrogen Market – Ecosystem Analysis
Figure 4. Europe Green Hydrogen Market – Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Europe Green Hydrogen Market Share, By Region (%), 2020 and 2030
Figure 7. Europe Green Hydrogen Market Revenue (US$ Mn), 2020 – 2030
Figure 8. Europe Green Hydrogen Market Revenue Share, By End-Use Industry (2022 and 2030)
Figure 9. Chemicals: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 10. Power: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 11. Food and Beverages: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 12. Medical: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 13. Petrochemicals: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 14. Others: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 15. Europe Green Hydrogen Market Revenue Share, By Renewable Source (2022 and 2030)
Figure 16. Wind Energy: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 17. Solar Energy: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 18. Europe Green Hydrogen Market Revenue Share, By Technology (2022 and 2030)
Figure 19. Alkaline Electrolysis: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 20. PEM Electrolysis: Europe Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Figure 21. Europe Green Hydrogen Market, by Key Country- Revenue (2022) (US$ Million)
Figure 22. Europe Green Hydrogen Market Revenue Share, By Key Country (2022 and 2030)
Figure 23. Germany: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 24. France: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. Italy: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. UK: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 27. Russia: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 28. Spain: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 29. Rest of Europe: Europe Green Hydrogen Market Revenue and Forecasts to 2030 (US$ Million)
Figure 30. Company Positioning & Concentration
The List of Companies – Europe Green Hydrogen Market
o Air Products & Chemicals Inc
o Cummins Inc
o Engie SA
o L’Air Liquide SA
o Linde Plc
o Nel ASA
o Orsted AS
o Siemens Energy AG
o Toshiba Energy Systems & Solutions Corp
o Uniper SE
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