United Kingdom Green Hydrogen Market By Production Method (Alkaline Water Electrolysis, Proton Exchange Membrane, and Solid Oxide Electrolysis), By Renewable Source (Wind, Solar PV, Others), By End Use (Power Generation, Automotive, Chemicals & Petrochemicals, Others), By Region, Competition Forecast & Opportunities, 2018-2028
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationUnited Kingdom Green Hydrogen Market By Production Method (Alkaline Water Electrolysis, Proton Exchange Membrane, and Solid Oxide Electrolysis), By Renewable Source (Wind, Solar PV, Others), By End Use (Power Generation, Automotive, Chemicals & Petrochemicals, Others), By Region, Competition Forecast & Opportunities, 2018-2028
The United Kingdom (U.K.) is set to become a global leader in the production and use of green hydrogen, with the government aiming to reach net-zero carbon emissions by 2050. Green hydrogen is a clean fuel source that can be produced using renewable energy sources, such as wind and solar power. The U.K. Green Hydrogen Market is projected to grow significantly over the next decade, with numerous initiatives and investments already underway to promote the adoption of this sustainable energy source. Moreover, The U.K. is actively seeking to collaborate with international partners to develop the green hydrogen market. The government has signed agreements with several European countries to explore cross-border hydrogen cooperation, which could lead to increased demand for U.K. green hydrogen.
To achieve this goal, the U.K. government has committed to investing USD 500 million in the development and deployment of low-carbon hydrogen production, transportation, and storage infrastructure.
Growing demand for clean energy
Clean energy is becoming an increasingly important part of the global energy mix, as countries around the world seek to reduce their carbon emissions and mitigate the impacts of climate change. Green hydrogen, a fuel source produced using renewable energy, is emerging as a key solution to help meet this growing demand for clean energy. Green hydrogen is produced by using renewable energy sources, such as wind, solar, and hydroelectric power, to split water molecules into hydrogen and oxygen. The resulting hydrogen can be used as a fuel source in a variety of applications, including transportation, heating, and electricity generation, without producing any harmful emissions. The demand for green hydrogen is growing rapidly, as more and more countries set ambitious targets for reducing their carbon emissions. The European Union, for example, has set a goal of becoming climate neutral by 2050, with hydrogen playing a key role in achieving this target.
Rising Use of Green Hydrogen in the Automotive Sector
The automotive sector is one of the key areas where green hydrogen is expected to play a significant role in the coming years. Green hydrogen, produced using renewable energy sources, can be used as a fuel for fuel cell electric vehicles (FCEVs), which offer several benefits over traditional combustion engine vehicles. One of the main benefits of FCEVs is that they produce zero emissions when powered by green hydrogen. This contrasts with traditional combustion engine vehicles, which emit harmful pollutants into the atmosphere, contributing to air pollution and climate change. As governments around the world set increasingly ambitious targets for reducing carbon emissions, FCEVs are emerging as a key solution for reducing emissions in the transportation sector. In addition to their environmental benefits, FCEVs also offer several advantages over battery electric vehicles (BEVs). FCEVs have a longer range and can be refueled more quickly than BEVs, which require longer charging times. This makes FCEVs a more practical option for applications such as long-haul transportation, where range and refueling times are critical.
Mergers & Acquisition’s
To scale its green hydrogen business, which is replacing diesel-fueled generators and enabling zero-emissions energy for all purposes to create a more sustainable world, UK-based GeoPura has received USD39.53 million in investment from leading global industry players. The funding initiative was led by General Motors Ventures, the investment arm of the automaker, and co-led by Barclays Sustainable Impact Capital with participation from SWEN CP and Siemens Energy Ventures.
Policy & Regulatory Landscape
The European Hydrogen Backbone initiative is made up of 31 energy infrastructure operators, including Fluxys (Belgium), ONTRAS and OGE (Germany), National Grid (UK), and Gasunie (Netherlands). The vision of the EHB is for a climate-neutral Europe enabled by a competitive, liquid, pan-European renewable and low-carbon hydrogen market.
In Furtherance of the European Commission's objective to establish a 20.6 Mt renewable and low-carbon hydrogen market in Europe, the EHB envisions five pan-European hydrogen supply and import corridors emerging by 2030, connecting industrial clusters, ports, and hydrogen valleys to regions of abundant hydrogen supply. By 2040, this infrastructure would expand to roughly 53,000 km across all of Europe and be mostly based on repurposed natural gas infrastructure.
According to the Energy Security Strategy, which was published in April 2022, the UK has committed to using a twin-track approach to develop hydrogen, meaning both green and blue hydrogen will be pursued. However, there is growing emphasis on the former, as evidenced by its new 10GW low carbon hydrogen production capacity target for 2030, with "at least" half coming from green hydrogen.
Recent Developments
. As per the United Kingdom Hydrogen Strategy, the use of low carbon hydrogen enabled by 5 GW of production capacity could deliver total emissions savings of around 41 MtCO2 between 2023 and 2032, equivalent to the carbon captured by 700 million trees over the same period.
Furthermore, some of the proposed key projects released by the government of the United Kingdom include the ambition for 5 GW of low carbon hydrogen production capacity by 2030, the launch of the USD 240 million Net Zero Hydrogen Fund in early 2022 for co-investment in early hydrogen production projects, and the design of UK standard for low carbon hydrogen.
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Market Segmentation
Company Profiles
Geopura Ltd, Siemens Energy Limited, Statkraft UK Ltd, Levidian Nanosystems Limited, Octopus Energy Group Ltd., HIIROC Limited, ITM Power plc, Tevva Motors Ltd, Ballard Power Systems Europe A/S and Linde plc are some of the key players of United Kingdom Green Hydrogen Market.
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Attribute |
Details |
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Base Year |
2022 |
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Historic Data |
2018 – 2021 |
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Estimated Year |
2023 |
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Forecast Period |
2024 – 2028 |
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Quantitative Units |
Revenue in USD Million and CAGR for 2018-2022 and 2023-2028 |
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Report coverage |
Revenue forecast,
Company shares, competitive landscape,
growth factors, and trends |
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Segments covered |
Production Method Renewable Source End Use |
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Regional scope |
Scotland,
South-East, London, South-West, East-Anglia, Yorkshire & Humberside, East
Midlands and Rest of United Kingdom. |
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Key companies profiled |
Geopura
Ltd, Siemens Energy Limited, Statkraft UK Ltd, Levidian Nanosystems Limited,
Octopus Energy Group Ltd., HIIROC Limited, ITM Power plc, Tevva Motors Ltd, Ballard
Power Systems Europe A/S and Linde plc |
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Customization scope |
10% free report customization with purchase.
Addition or alteration to country, regional & segment scope. |
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Pricing and purchase options |
Avail customized
purchase options to meet your exact research needs. |
|
Delivery Format |
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request) |
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