Europe Green Hydrogen Market to Grow at a CAGR of 132% by 2032 | ChemAnalyst

According to ChemAnalyst report, “Europe Green Hydrogen Market?Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, 2015-2032”,?The Green Hydrogen market is expected to reach approximately 22.30 million tonnes in 2032 at an expected CAGR of 132% in the forecast period.?The surging demand for Green Hydrogen from major end-use industries, Refining, Ammonia, Chemical, and Fuel is anticipated to favour the Green Hydrogen market expansion in the upcoming years.

Hydrogen?is a carbon-free energy source because there are no pollutants released during its combustion. When electricity is produced using renewable energy, it is known as CO2-free hydrogen and acts as a storage option.?Green Hydrogen is a clean fuel and methane substitute is green hydrogen. There are many ways to transfer green hydrogen, including by leveraging today's gas networks. By using green hydrogen as a bridge, green power can be transformed into a transportation fuel or used as a feedstock in industrial processes where there are currently no climate-neutral substitutes. Green hydrogen can also be used to make green ammonia, which can be used to power container ships and for other purposes.

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The market for green hydrogen in Europe is being driven primarily by increased environmental concerns brought on by carbon emissions and rising demand for cleaner energy from all major industrial sectors. With Europe’s goal towards decarbonizing, Green Hydrogen holds a substantial position in the fuel market. Green Hydrogen can be easily transported by the means of pipelines. Together, the worldwide European Hydrogen Bank and the green hydrogen partnerships seek to provide a framework to guarantee that alliances formed by the EU member states and the industry offer a level playing field between EU production and imports from outside the EU. Green hydrogen collaborations with other countries are anticipated to make it easier to promote the import of renewable hydrogen from other nations and help to encourage decarbonization. In May 2022, European Commission commissioned a REPowerEU plan to promote Europe’s focus on renewable hydrogen as an important energy carrier and reduce dependency on Russia's fossil fuel imports. The goal is to produce 10 million tonnes along with an import of 10 million tonnes of renewable hydrogen in Europe by 2030.

The Green Hydrogen market is segregated based on end-use, sales channel, and region. Based on the end-user industry, the Green Hydrogen market is segmented into various industries which are Green Ammonia, Transportation Fuel, Refining, Power & Heating, and Chemical Feedstock. Among these, Green Ammonia is the leading consumer followed by the transportation sector. In the year 2022, Green Ammonia industry held a market share of 38%. Green ammonia has a wide array of uses in various industries such as transportation, industrial power generation, and fertilizer.

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Based on demand by region, the Green Hydrogen market is segregated into Southern Europe, Eastern Europe, Western Europe, and Rest of the Europe. Among these regions, Western Europe is dominating the Green Hydrogen market and is likely to retain its position in the forecast period.

“Europe Green Hydrogen Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, 2015-2032”,?Major players in the production of Europe Green Hydrogen are Shell Plc, Siemens AG, N.V Nederlandse Gasunie, Air Liquide S.A., Plug Power Inc, Iberdrola & Storegga JV, Iberdrola, Bp, Nouryon & Port of Rotterdam JV, Total and Engie, HyCC, Tata Steel & the Port of Amsterdam JV, Total Energies & Air Liquide JV, and Others.

“Rapidly surging demand for eco-friendly energy sources for transportation and energy usage across Europe is expected to boost the demand for Green Hydrogen in the forecast period until 2032. The green hydrogen market is anticipated to expand in the long-term period with its primary uses being Green Ammonia production, Transportation Fuel, Refining, Power & Heating, and usage as a Chemical Feedstock.?Furthermore, greater steps by the European Union towards decarbonization and zero-carbon emission goals are strengthening the Green Hydrogen market expansion. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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