Global Hydrogen-based Renewable Energy Market Overview:
Renewable Hydrogen earned by electricity received from renewable energy such as wind, solar, geothermal, tide or waves powers. Majorly electrolysers are employed to convert water into hydrogen gas. This gas is near to the insubstantial with odourless and colourless properties. There is huge demand of clean and affordable energy, with less to no CO2 emission. Increasing demand of hydrogen-based renewable energy in transportation industries and government support the manufacturer by providing subsidies for such plant give rise to hydrogen obtained from renewable energy market
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Demand of Zero Emission Hydrogen-Based Renewable Energy
Market Growth Drivers:
Growing Awareness for Renewable Fuel Sources and Energy Security, Government Provide Subsidiary for Hydrogen-Based Renewable Energy and Increasing Demand of Hydrogen-Based Renewable Energy in Transportation Industries
Challenges:
Lack of Awareness in Heavy Industry for Green Hydrogen
Restraints:
Lack of Skilled Workforce
Opportunities:
Increasing Technological Advancement in Process to Produce Hydrogen from Renewable Energy Source
Competitive Landscape:
Hydrogen-based Renewable Energy market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance, along with try to incorporate latest technology. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Honeywell International Inc. (United States), Shell Plc (United Kingdom), Reliance (India), Linde Plc (Ireland), Air liquid (France), Plug Power Inc. (United States), Adani Green Energy Ltd (India), Air Product & Chemicals Inc. (United States), Sinopec (China), Bloom Energy Corporation (United States), Fuelcell energy Inc. (United States) and ITM Power (United Kingdom). Considering Market by Renewable Energy Source Type , the sub-segment i.e. Wind Energy will boost the Hydrogen-based Renewable Energy market. Considering Market by Technology Type, the sub-segment i.e. Alkaline Electrolyte Cell (AEC) will boost the Hydrogen-based Renewable Energy market. Considering Market by Process Type, the sub-segment i.e. Thermochemical Processes will boost the Hydrogen-based Renewable Energy market.
Latest Market Insights:
In October 2020, Honeywell acquired Ballard Unmanned Systems, Ballard Power Systems Inc. designs and produces hydrogen proton exchange membrane fuel cell systems that power unmanned aerial systems. This acquisition helped Honeywell to expand its presence in hydrogen-based renewable energy market
In July 2022, Shell finance in to build Holland Hydrogen. Which will be Europe’s largest renewable hydrogen plant. On this plant 200MW electrolyser is constructed which will produce to 60,000 kilograms of renewable hydrogen per day after it complete in 2025. That renewable power come from e offshore wind farm Hollandse Kust, which is owned by shell. This helped shell to expand its presence in hydrogen-based renewable energy market
What Can be Explored with the Hydrogen-based Renewable Energy Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Hydrogen-based Renewable Energy Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Hydrogen-based Renewable Energy
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Hydrogen-based Renewable Energy market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Hydrogen-based Renewable Energy market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Hydrogen-based Renewable Energy Manufacturers, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.