Europe Hydrogen Market Analysis

Europe Hydrogen Market Analysis

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Grey hydrogen market is projected to reach USD 34.6 billion by 2032, on the account of gaining momentum for renewable energy in line with continuous advancements to develop hydrogen infrastructure. Favorable efforts across the private & public sectors to find solutions concerning to advance the production methods coupled with paradigm shift towards energy conservation and growing requirement for efficient energy sources across different applications have positively impacted the Europe hydrogen market development.
 

Petroleum refinery market is set to grow at a CAGR of over 3.5% between 2023 and 2032. These are the largest consumers of H₂, to remove the impurities and sulfur content utilized in the hydro conversion and hydrotreating processes in the refineries. Growing public and private investments to desulfurize the petroleum products and increasing use of methanol across the industrial processes will enhance to the business potential. Moreover, continued deployment of low-cost renewable hydrogen the upgradation in line with expansion of refineries to comply with the clean energy targets will accelerate the Europe hydrogen market.
 

Germany hydrogen market will exhibit a growth rate of 0.5% during 2023 to 2032. Evolving regulatory landscape, introduction of new projects and commercial partnerships in conjunction with large scale adoption of energy efficiency targets will fuel the penetration of hydrogen across different areas. Surging research and development activities combined with expansion of large scale & low carbon projects for hydrogen & ammonia will support in the development of emission free economy. Additionally, huge presence of renewable resources primarily wind & solar along with growing electric vehicle fleet in the country will positively influence the market trends.