Dublin, Aug. 26, 2024 (GLOBE NEWSWIRE) -- The "Europe Green Hydrogen Market: Focus on Application, Technology, Renewable Energy Source, and Country - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Europe green hydrogen market was valued at $253.8 million in 2023, and it is expected to grow with a CAGR of 66.72% during the forecast period 2023-2033 to reach $42.10 billion by 2033. Green hydrogen market growth is expected to be driven by low variable renewable energy (VRE) electricity costs, global plans for net-zero emissions by 2050, and increased awareness of green hydrogen. 
The European green hydrogen market is expanding rapidly as the region works to transition to a more sustainable energy future. Green hydrogen, produced by electrolysis of water using renewable energy sources such as wind and solar power, is emerging as a critical solution for carbon neutrality. This clean and versatile energy carrier has the potential to significantly reduce carbon emissions in a variety of sectors, including transportation, industry, and power generation.
Several European countries are at the forefront of green hydrogen production and utilization, propelled by ambitious climate goals and significant investments in renewable energy infrastructure. The European Union's Green Deal and Hydrogen Strategy aim to promote the development of a strong hydrogen economy, with plans to install gigawatts of electrolyzer capacity by 2030.
The market is primarily driven by financial incentives, public-private sector collaborations, and supportive government policies. The region's commitment to lowering greenhouse gas emissions and increasing energy security fuels the demand for green hydrogen.
As Europe continues to innovate and expand its renewable energy capabilities, the green hydrogen market is expected to thrive, creating significant opportunities for stakeholders throughout the value chain, from electrolyzer manufacturers to end users in a variety of industries.
How can this report add value to an organization?
Product/Innovation Strategy: In the realm of the Europe green hydrogen market, technological advancements are transforming agricultural landscapes to create winning products, choose the right unmet needs, target the right customer group, and compete with substitute products. The product segment helps the readers understand the different types of technology used for the green hydrogen market. Also, the study provides the readers with a detailed understanding of the Europe green hydrogen market based on application and product.
Growth/Marketing Strategy: The Europe green hydrogen market has witnessed remarkable growth strategies by key players. Business expansions, collaborations, and partnerships have been pivotal. Companies are venturing into global markets, forging alliances, and engaging in research collaborations to enhance their technological prowess. Collaborative efforts between hydrogen manufacturers and suppliers' experts are driving the development of cutting-edge monitoring tools. Additionally, strategic joint ventures are fostering the integration of diverse expertise, amplifying the market presence of these solutions. This collaborative approach is instrumental in developing a comprehensive, user-friendly, and efficient green hydrogen market.
Competitive Strategy: In the competitive landscape of the green hydrogen market, manufacturers are diversifying their product portfolios to cover various applications. Market segments include application, technology, and renewable energy sources. Competitive benchmarking illuminates the strengths of market players, emphasizing their unique offerings and regional strengths. Partnerships with research institutions and agricultural organizations are driving innovation.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 82 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $253.8 Million |
| Forecasted Market Value (USD) by 2033 | $42108.6 Million |
| Compound Annual Growth Rate | 66.7% |
| Regions Covered | Europe |
Market Dynamics: Overview
Market Drivers
- Low Variable Renewable Energy (VRE) Electricity Cost
- Global Plans for Net-Zero Emissions by 2050
- Increasing Awareness Regarding Green Hydrogen
Trends: Current and Future Impact Assessment
- Decarbonization on the Horizon
- Infrastructure Development
- Falling Renewable Energy Costs
Market Restraints
- High Cost of Production
- Limited Dedicated Transport Infrastructure
Market Opportunities
- Wide Application of Green Hydrogen
- Scaling Up of Technologies
Supply Chain Overview
- Market Map
Research and Development Review
- Patent Filing Trend (by Country and Company)
Regulatory Landscape
- Consortiums and Associations
- Regulatory Bodies
- Government Programs
Start-Up Landscape
- Key Start-Ups in the Ecosystem
Impact Analysis for Key Global Events: COVID-19
Companies Featured
- Linde plc
- Air Liquide
- Engie
- Uniper SE
- Siemens Energy
- Green Hydrogen Systems
- Nel ASA
- Aker Horizons
- HY2GEN AG
- Fusion-Fuel
Market Segmentation
Application
- Oil and Gas
- Industrial Feedstock
- Ammonia
- Methanol
- Steel
- Others
- Mobility
- Power Generation
- Others
Technology
- Proton Exchange Membrane (PEM) Electrolyzer
- Alkaline Electrolyzer
- Anion Exchange Membrane
- Solid Oxide Electrolyzer
Renewable Energy Source
- Wind Energy
- Solar Energy
- Others
Country
- France
- Germany
- U.K.
- Spain
- Italy
- Russia
- Rest-of-Europe
For more information about this report visit https://www.researchandmarkets.com/r/nx3bjr
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