Few Diverse Global Players Dominate the Market Holding ~45% of Revenue Share Despite Presence of about ~150 Competitors Comprising a Large Number of Country-Niche Players and Some Specialist Players, finds a recent market study on Europe Green Hydrogen Market by Ken Research.
Global Players that Constitute Just 15% of Total Number of Competitors Hold Largest Revenue Share of 45% While Regional Companies Also Have A Strong Presence and Hold 35%
A comprehensive competitive analysis conducted during the Research Study found that the Europe Green Hydrogen market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players having their own niche in water electrolysis tech advancement for multiple industries. The large global players comprise about 15% in terms of the number of companies and hold ~45% of the market revenue share followed by regional players which account for ~35% of the market revenue. Most of the country-niche players are renewable energy and equipment suppliers. Some of these who successfully evolve to create application-specific solutions often get acquired by large global players seeking to grow and diversify quickly.
Leading Specialist Global Players’ Ongoing Efforts To Provide Sustainable Hydrogen Solutions To A Variety 0f Industries Are Driving Their Revenue Growth From This Market
Detailed comparative analysis of key competitors available within the Research Study shows that specialist players such as Linde Plc, Shell Plc, Air Liquide, and Thyssenkrupp are highly focused on providing a significant number of clean/green hydrogen solutions and advanced techniques that can be used across multiple industries, including aviation, manufacturing, oil and gas, energy, and more. Furthermore, several companies and organizations are aggressively investing in R&D to reduce the significant energy loss that occurs during the conversion of green electricity to green hydrogen.
- Siemens Energy intends to invest approximately USD 1.83 billion (€1 billion) per year in R&D, with a focus on environmental sustainability and service to uphold its innovative edge. In addition to the renewable energy portfolio provided by Siemens Gamesa Renewable Energy (SGRE), the company has outlined five focus areas for Energy, Gas, and Power (GP) that will serve as the foundation for transforming the Siemens Energy portfolio, reducing our carbon footprint, and becoming an industry sustainability leader. Such five focus areas are: –
- Power-to-X (Power to Hydrogen, E-Fuels)
- Energy Storage (Batteries, Thermal Storage)
- Decarbonized Heat and Industrial Processes (Heat Pumps, Waste Heat Recovery)
- Condition-based Service Interventions (Artificial Intelligence (AI), Machine learning, Connectivity)
- Resilient Grids and Reliability (Power Electronics, Power System Management)
- In March 2022, the European Commission announced a USD 321.14 million (€300 million) plan in March 2022 to develop a green hydrogen economy based on wind and solar power. The current action is an extension of the EU’s 2020 Hydrogen Strategy, which was sought by the commission. The commission believes that clean hydrogen might provide 24% of global energy consumption by 2050, with estimates ranging from 9 to 14% for the EU.
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The Ongoing COVID-19 Led to A Significant Reduction in Power Generation Using Fossil Fuels, While Renewable Energy Exploded in Popularity
The COVID-19 pandemic has significantly changed the global landscape of alternative energy sources. For instance, while transportation fuels were in lower demand due to reduced mobility during the pandemic, the need for power generation remained. This created an opportunity for renewable energy sources (Solar and Wind) to expand their use in electricity production.
Motor gasoline, kerosene-type jet fuel, and gas and diesel oil used for transportation of people, heating, and products were all significantly affected, and none of such fuels have fully recovered to pre-COVID levels. According to European Consumption, gas and diesel oil consumption in the EU fell by 7% in 2020, particularly in Luxembourg, Italy, Spain, and Slovenia. Only Finland, Cyprus, and Romania had higher consumption than in 2019. In 2021, EU consumption increased but remained 6% lower than in 2019. In addition, in some countries, including Luxembourg, Germany, the Netherlands, and Greece, consumption in 2021 fell to even lower levels than in 2020.
Increased Government Initiatives in The Hydrogen Industry, As Well As New Stringent Regulations and Strategies To Promote Green Hydrogen Led To Major Industry-Wide Developments, Acquisitions, And Deal-Wins
- In July 2022, the European Union announced its plans to collaborate with Namibia to support the country’s emerging green hydrogen sector and maximize its imports of fuel. As part of the agreement, Nambia will use solar and wind energy to produce green hydrogen, which will supplement the EU’s usage of grey and blue hydrogen. In addition, the agreement is likely to include a procurement granting the EU access to minerals in Namibia.
- In July 2022, the European Commission endorsed a USD 5.4 bn hydrogen project, which will be jointly funded by 15 EU countries and 35 companies, including Alstom and Daimler Truck, Ansaldo, Bosch, Enel, Fincantieri, Orsted, and Plastic Omnium, to gain a competitive advantage in the hydrogen sector. In addition, the group will engage in 41 hydrogen scheme projects focusing on hydrogen generation, fuel cells, storage, transportation, and distribution of hydrogen, as well as end-user applications, particularly in the mobility sector.
- In August 2020, European Union unveiled the details of its green hydrogen strategies for 2030 and beyond. The strategies include three-time spans to meet the European Commission’s targets (EC).
- Between 2020-2024: It will support the installation of at least 6 GW of renewable hydrogen electrolyzers in the European Union (EU), as well as the production of up to 1 million tonnes of renewable hydrogen.
- Between 2025-2030: Nearly 40 GW of renewable hydrogen-powered electrolyzers are expected to generate up to 10 million tonnes of renewable hydrogen.
- From 2030 Onward: Renewable hydrogen will be deployed on a large scale in all challenging sectors with an investment of USD 25.78 bn (€ 24 bn) to USD 45.13 bn (€ 42 bn) in electrolyzers with 80 GW to 120 GW of solar and wind power capacity worth USD 236.40 bn (€ 220 bn) to USD 365.34 bn (€ 340 bn).
Notable Emerging Companies Mentioned in the Report
- Quantron AG
- STEAG GmbH
- SunFire GmbH
- Nedstack Fuel Cell Technology BV
- PGNiG SA
- PKN ORLEN
- Ampere Life
- Industrie De Nora S.p.A.
- Ansaldo Energia
- McPhy Energy S.A.
- Iberdrola, S.A.
- Engages S.A.
- Respol S.A.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Green Hydrogen Production Companies
- Green Hydrogen Distributors
- Renewable Energy Companies
- Potential Investors in Green Hydrogen Companies
- Hydrogen Association
- Utilities Sector Organizations
- Automotive Companies
- Transportation Equipment Manufacturers
- Urban Mobility Systems Companies
- Industrial Power Generation Equipment Companies
- Commercial Power Generation Equipment Companies
- Research & Development Institutes
- Government Investors
- Ministries of Energy and Power Generation
- Ministries of Energy and Power Distribution
- Environment Control and Emission Regulatory Organizations
- Consulting companies in the energy and power sector
- Electrical infrastructure providers
- Gas turbine and IC engine manufacturers
- Government and research organizations
- Investment banks
- Investors and financial community professionals
- Renewable Energy Research Organizations
- Investment Funds
- Independent Power Producers (IPP)
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Time Period Captured in the Report
- Historical Period: 2019-2021
- Forecast Period: 2022-2030F
Key Topics Covered in the Report
- Snapshot of Europe Green Hydrogen Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of Europe Green Hydrogen Market
- Historic Growth of Overall Europe Green Hydrogen Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Europe Green Hydrogen Industry
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- Covid 19 Impact on the Overall Europe Green Hydrogen Market
- Future Market Forecast and Growth Rates of the Total Europe Green Hydrogen Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Green Hydrogen Market in Major European Countries
- Major Production / Consumption Hubs in the Major European Countries
- Major Production/Supply and Consumption/Demand Hubs in Each Major Country
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
For More Information on The Research Report, Refer to Below Link: –
Europe Green Hydrogen Market Future Outlook
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Saudi Arabia Cleantech Energy Market Outlook to 2021 – Use of Renewable Energy Resources and Reductions in the Electricity Subsidies to Support Growth
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Ankur Gupta, Head Marketing & Communications