United Kingdom Green Hydrogen Industry Report 2023: Europe's Commitment to Green Hydrogen Aligns with UK's Ambitions

DUBLIN, Nov. 23, 2023 /PRNewswire/ -- The "United Kingdom Green Hydrogen Market Competition Forecast & Opportunities, 2028" report has been added to  ResearchAndMarkets.com's offering.

United Kingdom Green Hydrogen Market is anticipated to grow at a significant rate in the forecast period, 2024- 2028

The United Kingdom 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 United Kingdom Green Hydrogen.

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.

The government's Ten Point Plan for a Green Industrial Revolution, released in November 2020, identified hydrogen as a key component of the country's decarbonization strategy. The plan sets out a target of 5 GW of low-carbon hydrogen production capacity by 2030, which would be enough to power over 3 million homes, as well as heavy-duty transport, industry, and power generation.

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. The funding will support the construction of new facilities and the repurposing of existing infrastructure, such as natural gas pipelines, for the transport of hydrogen. The U.K. has already made significant progress in the deployment of hydrogen technologies.

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.

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.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies in United Kingdom Green Hydrogen Market.

• 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
• Linde plc

Report Scope:

United Kingdom Green Hydrogen Market, By Product Method:

• Alkaline Water Electrolysis
• Proton Exchange Membrane
• Solid Oxide Electrolysis

United Kingdom Green Hydrogen Market, By Renewable Source:

• Wind
• Solar PV
• Others

United Kingdom Green Hydrogen Market, By End-Use:

• Power Generation
• Automotive
• Chemicals & Petrochemicals
• Others

United Kingdom Green Hydrogen Market, By Region:

• Scotland
• South-East
• London
• South-West
• East-Anglia
• Yorkshire & Humberside
• East Midlands
• Rest of United Kingdom

For more information about this report visit https://www.researchandmarkets.com/r/n71s6e

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