Advances in Green Hydrogen Create Opportunity across the Global Power Sector

Advances in Green Hydrogen Create Opportunity across the Global Power Sector

Growth Potential Enhanced by Regulatory Frameworks, Rollout of Renewable Energy Sources, and Innovations in Electrolysers Technology

RELEASE DATE
25-Nov-2020
REGION
Global
Deliverable Type
Market Research
Research Code: MF9B-01-00-00-00
SKU: EG02122-GL-MT_24970
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Advances in Green Hydrogen Create Opportunity across the Global Power Sector
Published on: 25-Nov-2020 | SKU: EG02122-GL-MT_24970

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Increasing concerns about carbon emissions and the need to decarbonize the industrial, commercial, transport, and power sectors have forced countries to reduce their dependency on fossil fuel-based systems and increase deployment of renewable energy sources (RES). To meet the 1.5-degree Celsius target, global renewable energy capacity should increase from about 2500 GW in 2019 to more than 15,000 GW in 2050, a near 6-fold increase. However, total decarbonization of certain sectors, such as transport and industry, cannot be achieved solely by electrification. This challenge can be addressed by green hydrogen produced through electrolysis from RES, wind and solar, in particular. Green hydrogen produced through electrolysis can then be used downstream as a chemical feedstock material in high-carbon sectors that are difficult to decarbonize through electrification alone.

In the last five years, interest has grown in using green hydrogen as a low- or zero-carbon energy carrier, and many governments have started acknowledging the fact that a green hydrogen-based economy could be the answer to growing concerns over carbon emissions, energy security, and climate change. Technological institutions in various countries have already invested in pilot and demonstration projects related to the production, storage, distribution, and utilization of green hydrogen across different business verticals. For a green hydrogen economy to become a reality, technological and economical breakthroughs are needed to bring down the costs associated with production; other needs are decisive regulatory frameworks to promote investments and support in research and development (R&D) activities related to technologies for the production, storage, transport, and utilization of hydrogen.

Currently, green hydrogen account less than 1% of the total hydrogen produced. The global demand for green hydrogen and its emerging applications is expected to increase exponentially in the next 20 years, creating need for considerable infrastructure to handle production and delivery. It will take 10 to 20 years before a green hydrogen economy becomes mainstream across the global power sector and other segments.

The primary aim of this research is to analyze the current and future market potential of green hydrogen as an energy carrier driving transition toward a sustainable energy future. The study identifies growth opportunities for the green hydrogen market in the global power sector and some of the key countries and companies active in this space.

Author: Swagath Navin Manohar

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

Impact of the Top Three Strategic Imperatives on Green Hydrogen in the Global Power Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Green Hydrogen Roadmap to 2050 in the Global Power Sector

Green Hydrogen Industry: Hotspots

Growth Opportunities for Green Hydrogen

Growth Opportunities for Green Hydrogen (continued)

Research Aim

Study Coverage and Exclusions

Key Questions this Study will Answer

Moving toward Decarbonization

Green Hydrogen: A Catalyst Accelerating Transition toward Sustainable Green Economy

Green Hydrogen in Energy Transition: Applications

Green Hydrogen Production Pathways

Green Hydrogen Production Pathways (continued)

Green Hydrogen Production Pathways: Technology Maturity Level

Green Hydrogen: Two Major Applications across the Power Sector

Key Companies Working on Green Hydrogen Initiatives

Market Drivers

Green Hydrogen in Power Sector: Key Market Drivers

Market Restraints

Green Hydrogen in Power Sector: Key Market Restraints

Key Market Trends

Power-to-X Technology

Power-to-X Technology (continued)

Strong Partnerships to Drive Pilot and Demonstration Projects

Decreasing Costs and Increasing Economies of Scale

Decreasing Costs and Increasing Economies of Scale (continued)

Hydrogen as a Lifeline for Nuclear Energy

Ammonia as a Green Carrier

Africa for Hydrogen

Green Hydrogen: Global Production Forecast

The Global Green Hydrogen Market: Production Forecast Discussion

Global Green Hydrogen: Electrolyser Cumulative Installed Capacity

Global Green Hydrogen: Electrolyser Cumulative Installed Capacity Discussion

Global Green Hydrogen: Electrolyser Regional Cumulative Installed Capacity

Global Green Hydrogen: Electrolyser Regional Cumulative Installed Capacity Discussion

Green Hydrogen Industry: Regional Analysis

Green Hydrogen Industry: Hotspots

North America

North America: Forecast Discussion and Pilot Projects

Europe

Europe (continued)

Europe: Forecast Discussion

Europe: List of Planned Pilot and Demonstration Projects

Latin America

Latin America: Green Hydrogen Developments

Latin America: Forecast Discussion

Asia-Pacific

Asia-Pacific (continued)

Asia-Pacific Forecast Analysis and Pilot Projects

The Middle East and Africa

The Middle East and Africa Forecast Analysis and Pilot Projects

The Green Hydrogen Value Chain

Competitive Landscape: Hydrogen Ecosystem

Competitive Landscape: Hydrogen Ecosystem (continued)

Competitive Landscape: Green Hydrogen Ecosystem

Companies to Watch: NEL

Companies to Watch: Hydron Energy

Companies to Watch: Horizon Fuel Cell Technologies

Companies to Watch: Hydrogen Pro

Growth Opportunity 1: Power-to-X Pathways for the Decarbonization and Management of the Power Sector, 2019

Growth Opportunity 1: Power-to-X Pathways for the Decarbonization and Management of the Power Sector, 2019 (continued)

Growth Opportunity 2: Blending Green Hydrogen into Existing Natural Gas Pipelines to Reduce CO2 Emissions, 2019

Growth Opportunity 2: Blending Green Hydrogen into Existing Natural Gas Pipelines to Reduce CO2 Emissions, 2019 (continued)

Growth Opportunity 3: Primary and Secondary Power Source for Commercial and Industrial Applications, 2019

Growth Opportunity 3: Primary and Secondary Power Source for Commercial and Industrial Applications, 2019 (continued)

Growth Opportunity 4: Combination of Lithium-Ion and Hydrogen Storage Systems Acting as a Primary and Backup Power Source, 2019

Growth Opportunity 4: Combination of Lithium-Ion and Hydrogen Storage Systems Acting as a Primary and Backup Power Source, 2019 (continued)

Growth Opportunity 5: CHP Fuel Cells for Industrial and Commercial Applications, 2019

Growth Opportunity 5: CHP Fuel Cells for Industrial and Commercial Applications, 2019 (continued)

Growth Opportunity 6: Green Ammonia as an Energy Source, 2019

Growth Opportunity 6: Green Ammonia as an Energy Source, 2019 (continued)

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Increasing concerns about carbon emissions and the need to decarbonize the industrial, commercial, transport, and power sectors have forced countries to reduce their dependency on fossil fuel-based systems and increase deployment of renewable energy sources (RES). To meet the 1.5-degree Celsius target, global renewable energy capacity should increase from about 2500 GW in 2019 to more than 15,000 GW in 2050, a near 6-fold increase. However, total decarbonization of certain sectors, such as transport and industry, cannot be achieved solely by electrification. This challenge can be addressed by green hydrogen produced through electrolysis from RES, wind and solar, in particular. Green hydrogen produced through electrolysis can then be used downstream as a chemical feedstock material in high-carbon sectors that are difficult to decarbonize through electrification alone. In the last five years, interest has grown in using green hydrogen as a low- or zero-carbon energy carrier, and many governments have started acknowledging the fact that a green hydrogen-based economy could be the answer to growing concerns over carbon emissions, energy security, and climate change. Technological institutions in various countries have already invested in pilot and demonstration projects related to the production, storage, distribution, and utilization of green hydrogen across different business verticals. For a green hydrogen economy to become a reality, technological and economical breakthroughs are needed to bring down the costs associated with production; other needs are decisive regulatory frameworks to promote investments and support in research and development (R&D) activities related to technologies for the production, storage, transport, and utilization of hydrogen. Currently, green hydrogen account less than 1% of the total hydrogen produced. The global demand for green hydrogen and its emerging applications is expected to increase exponentially in the next 20 years, creating need for considerable infrastructure to handle production and delivery. It will take 10 to 20 years before a green hydrogen economy becomes mainstream across the global power sector and other segments. The primary aim of this research is to analyze the current and future market potential of green hydrogen as an energy carrier driving transition toward a sustainable energy future. The study identifies growth opportunities for the green hydrogen market in the global power sector and some of the key countries and companies active in this space. Author: Swagath Navin Manohar
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Swagath Navin Manohar
Industries Energy
WIP Number MF9B-01-00-00-00
Is Prebook No
GPS Codes 9AFE-A4,9B00-A4,9851,GETE