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Europe Hydrogen Market Size

Report ID: GMI6742
Published Date: Sep 2023
Report Format: PDF

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Europe Hydrogen Market Size

Europe Hydrogen Market size was valued at more than USD 39.1 billion in 2023 and is expected to grow at 3.5% CAGR from 2024 to 2032. Positive outlook toward the expansion of the industrial base across developing economies along with mandates to curb the overall emission levels in the industries is set to boost the overall demand will continue to drive the business growth.

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Growing requirement of an efficient fuel source and shifting efforts toward the adoption of sustainable & clean energy solutions have positively increased the adoption of hydrogen across various applications. Rising government spending on H? energy design & development programs in line with the deployment of green as well as blue hydrogen with the target to reduce the dependency on conventional fuel sources will further propel the business scenario.

Europe Hydrogen Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Hydrogen Market Size in 2023:	USD 39.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	3.5%
2032 Value Projection:	USD 53.49 Billion
Historical Data for:	2019 to 2023
No. of Pages:	220
Tables, Charts & Figures:	175
Segments covered:	Type, Application
Growth Drivers:	Favourable laws and regulations Increasing emphasis on clean energy Technological development
Pitfalls & Challenges:	Concerns regarding safety

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of Europe hydrogen was crossed USD 39.1 billion in 2023 and may record over USD 53.49 billion by 2032, due to the rising mandates to curb the overall emission levels in industries and the growing requirement of efficient fuel sources in the region.

The market revenue of grey hydrogen in Europe is anticipated to reach over USD 34.6 billion by 2032, due to the rising momentum for renewable energy along with continuous advancements to develop hydrogen infrastructure in the region.

Germany hydrogen industry size will register over 0.5% CAGR from 2023 to 2032, due to the evolving regulatory landscape, introduction of new projects and commercial partnerships along with large scale adoption of energy efficiency targets in the nation.

Air Liquide, Air Products and Chemicals, Inc., Cummins Inc., Messer, RESONAC HOLDINGS CORPORATION, CALORIC, NUVERA FUEL CELLS, LLC, Plug Power Inc., Nel ASA, and TAIYO NIPPON SANSO CORPORATION, among others are some of the major hydrogen companies in Europe.