Europe Hydrogen Market Analysis

Europe Hydrogen Market Analysis

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Based on process, the blue hydrogen market is set to surpass USD 5 billion by 2034, owing to policy support, technological advancements, cost considerations, and the availability of carbon capture and storage infrastructure. Europe is seeing a growing number of large-scale blue hydrogen projects as governments and industry look for scalable, cost-effective solutions for decarbonization. Further, growing complexity of hydrogen production and CCS technologies is encouraging alliances between companies in the energy, industrial, and technology sectors, thereby driving the business landscape.
 

Based on application, the petroleum refinery segment is set to witness more than 4% CAGR through 2034. These entities primarily consume hydrogen to remove the impurities and sulfur content during hydro conversion and hydrotreating processes in refineries. Increasing public and private investments in desulfurizing petroleum products, along with a rising industrial use of methanol, will boost business potential. Additionally, ongoing adoption of low-cost renewable hydrogen combined with refinery expansions to meet clean energy targets will drive the market growth.
 

Germany hydrogen market is anticipated to reach USD 5.2 billion by 2034. Set up of national hydrogen strategies with specific goals and investment plans to scale up production and infrastructure will drive the business scenario. Several government initiatives, scale up the production of renewable hydrogen and various funding programs across the region will stimulate the product adoption. Furthermore, growing number of hydrogen refueling stations, projects linking wind and solar power to hydrogen production, and a national hydrogen strategy that includes building a large-scale hydrogen pipeline network will influence the business statistics.