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With a Multitude of Applications, Hydrogen will Play an Important Role in Our Transition towards a Low-carbon Economy
09-Oct-2020
Global
Market Research
K4B9-01-00-00-00
EG02112-GL-MT_24846
Continued concerns over global warming and increasing carbon emissions have forced governments to reduce their dependency on fossil fuels based economy and move towards a low-carbon economy. Our sustainable future depends on the development of these low-carbon and alternate energy sources that are renewable and environment friendly.
In recent years, there has been a growing interest in hydrogen as a low- or zero-carbon energy source, and many governments have started acknowledging the fact that a hydrogen-based economy could be the answer to our growing concerns over increasing carbon emissions, energy security, and climate change. Hydrogen could be used as a decarbonised fuel across the mobility, maritime and aviation sectors, and as a decarbonised energy storage system (ESS) across the power generation sector.
Though the promises associated with hydrogen—as an important tool in catalysing the transition towards sustainable energy economy—are huge, the current application of hydrogen is mainly in industrial sector. Much of the projects across power generation, transport, and other segments are still in their pilot stages and technological and cost breakthroughs are needed for increased adoption. The global demand for hydrogen and its emerging applications is expected to increase tenfold over the next 20 years, creating the need for a huge infrastructure for producing and delivering the fuel.
Almost all the hydrogen (grey hydrogen) used today is produced from fossil fuels with CO2 released into the atmosphere. Grey hydrogen can be used in the short to medium term to meet the growing hydrogen demand. However, in the long term, this method is unsustainable and requires alternative measures. Only hydrogen produced through carbon capture & storage (CCS) (blue hydrogen) and through RES (green hydrogen) can be considered as a sustainable option if we are moving towards a hydrogen economy.
For hydrogen economy to become a reality, decisive government actions are required in 4 areas:
• Support research and development (R&D) activities related to technologies involved in production, storage, transport and utilisation of
hydrogen.
• Provide incentives to companies for developing hydrogen infrastructure and carbon capture utilisation & storage (CCUS) infrastructure.
• Address socio-economic barriers inhibiting the growth of the technology and mandate policies towards decarbonisation.
• Develop a roadmap towards hydrogen economy.
There is still a long road to travel, and it would take 10-20 years before the hydrogen economy becomes mainstream across the global power sector and other segments.
The primary aim of this research study is to analyse the current and future market potential of hydrogen as a potential energy carrier driving the transition towards a sustainable energy future. The study also identifies growth opportunities for the hydrogen market in the global power sector, highlights trends in some of the key countries, and also lists companies active in this space.
Author: Swagath Navin Manohar
Key Findings
Purpose of this Experiential Study
5 Step Process to Transformational Growth
Strategic Imperatives for Success and Growth
Hydrogen Roadmap to 2050 in the Power Sector
Growth Opportunities for Hydrogen
Research Aim
Study Coverage and Exclusions
Key Questions this Study will Answer
Hydrogen—Future Zero-Carbon Energy Carrier
Government Action for Hydrogen
Types of Hydrogen
Types of Hydrogen (continued)
Hydrogen Production Processes
Production Costs of Various Hydrogen Technologies
Hydrogen Production—Carbon Emissions
Applications of Hydrogen
Application of Hydrogen in the Power Sector
Key Utilities Working on Hydrogen Technology
Hydrogen Roadmap to 2050 in the Power Sector
Hydrogen Roadmap to 2050
Market Drivers
Hydrogen in Power Sector—Key Market Drivers
Market Restraints
Hydrogen in Power Sector—Key Market Restraints
Hydrogen in Power Sector—Key Market Restraints (continued)
Impact of COVID-19 on the Growth in Hydrogen Adoption in the Power Sector
Key Market Trends
Power-to-Gas Likely to Further Boost the Demand for Generation from RES
Hydrogen Could Finally Enable Commercial Viability for FC Technology
Hydrogen Energy Storage Offers a Challenge to Existing Technologies
Hydrogen as a Lifeline for Nuclear Energy
Potential for Hydrogen to Drive Renewed Interest in CCS
Sustainable Hydrogen from Waste
Global Hydrogen Production Forecast
Global Hydrogen Market—Revenue Forecasts
Market Forecasts—Growth of Blue and Grey Hydrogen
Global Hydrogen Production—Market Forecasts Discussion
Hydrogen Industry—Regional Analysis
The United States
Germany
United Kingdom
France
China
India
Japan
Australia
Macro to Micro Visioning
Industry Mega Trends—Global Pathway Towards Decarbonisation
Industry Mega Trends—Five Elements to Achieve Decarbonisation
Industry Mega Trends—Circular Economy in Hydrogen Industry
Disruptive Technologies—Hydrogen vs. Lithium-ion Battery
Disruptive Technologies—Key Technology Innovations
Disruptive Technologies—Key Technology Innovations (continued)
Disruptive Technologies—Additive Manufacturing (AM)/3D Printing
Disruptive Technologies—Advanced Materials and Composites
Hydrogen Value Chain
Go-to-Market Recommendations for Companies
Competitive Landscape—Hydrogen Ecosystem
Competitive Landscape—Hydrogen Ecosystem (continued)
Key Global Players
Companies to Watch—ITM Power
Companies to Watch—Hydrogenics
Companies to Watch—NEL
Companies to Watch—SunFire
Companies to Watch—HySiLabs
Levers for Growth
Growth Opportunity 1—Co-firing Hydrogen/Ammonia with Coal to Reduce CO2 Emissions
Growth Opportunity 1—Co-firing Hydrogen/Ammonia with Coal to Reduce CO2 Emissions (continued)
Growth Opportunity 2—Blending H2 into Existing Natural Gas Pipelines to Reduce CO2 Emissions
Growth Opportunity 2—Blending H2 into Existing Natural Gas Pipelines to Reduce CO2 Emissions (continued)
Growth Opportunity 3—Combination of Lithium-Ion & Hydrogen Storage Systems Acting as a Primary & Backup Power Source
Growth Opportunity 3—Combination of Lithium-Ion & Hydrogen Storage Systems Acting as a Primary & Backup Power Source (continued)
Growth Opportunity 4—Combination of Blue & Green Hydrogen Aiding Our Transition towards Hydrogen Economy
Growth Opportunity 4—Combination of Blue & Green Hydrogen Aiding Our Transition towards Hydrogen Economy (continued)
Growth Opportunity 5—Primary Power Source for Off-grid & Critical Infrastructures
Growth Opportunity 5—Primary Power Source for Off-grid & Critical Infrastructures (continued)
Growth Opportunity 6—Backup Power Source for Commercial and Industrial Segments
Growth Opportunity 6—Backup Power Source for Commercial and Industrial Segments (continued)
Growth Opportunity 7—Electricity Storage Reducing Curtailments Ratio
Growth Opportunity 7—Electricity Storage Reducing Curtailments Ratio (continued)
Growth Opportunity 8—FC-CHPs for Industrial & Commercial Applications
Growth Opportunity 8—FC-CHPs for Industrial & Commercial Applications (continued)
Growth Opportunity 9—V2G for Local Grid Balancing
Growth Opportunity 9—V2G for Local Grid Balancing (continued)
Strategic Imperatives for Success and Growth
List of Abbreviations
Your Next Steps
Why Frost, Why Now?
List of Exhibits
Legal Disclaimer
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| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Swagath Navin Manohar |
| Industries | Energy |
| WIP Number | K4B9-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9307-A4,9AFE-A4,9B00-A4,9851,GETE |
Growth Opportunities in the Hydrogen Market for the Global Power Sector
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