About Hydrogen-based Renewable Energy
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 |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
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. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hydrogen-based Renewable Energy market by , Application (Chemical Industry, Transportation, Petroleum Refinery, Steel, Mining, Power Generation, Heat Generation and Others) and Region.
On the basis of geography, the market of Hydrogen-based Renewable Energy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Renewable Energy Source Type , the sub-segment i.e. Wind Energy will boost the Hydrogen-based Renewable Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology Type, the sub-segment i.e. Alkaline Electrolyte Cell (AEC) will boost the Hydrogen-based Renewable Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Process Type, the sub-segment i.e. Thermochemical Processes will boost the Hydrogen-based Renewable Energy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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
Market Leaders and their expansionary development strategies
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
Key Target Audience
Hydrogen-based Renewable Energy Manufacturers, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.