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Advances in Green Hydrogen Create Opportunity across the Global Power Sector

  • Report

  • 93 Pages
  • November 2020
  • Region: Global
  • Frost & Sullivan
  • ID: 5221266

Growth Potential Enhanced by Regulatory Frameworks, Rollout of Renewable Energy Sources, and Innovations in Electrolysers Technology

Increasing concerns about carbon emissions and the need to decarbonize the industrial, commercial, transport, and power sectors have forced countries to reduce their dependency on fossil fuel-based systems and increase deployment of renewable energy sources (RES). To meet the 1.5-degree Celsius target, global renewable energy capacity should increase from about 2500 GW in 2019 to more than 15,000 GW in 2050, a near 6-fold increase. However, total decarbonization of certain sectors, such as transport and industry, cannot be achieved solely by electrification. This challenge can be addressed by green hydrogen produced through electrolysis from RES, wind and solar, in particular. Green hydrogen produced through electrolysis can then be used downstream as a chemical feedstock material in high-carbon sectors that are difficult to decarbonize through electrification alone.

In the last five years, interest has grown in using green hydrogen as a low- or zero-carbon energy carrier, and many governments have started acknowledging the fact that a green hydrogen-based economy could be the answer to growing concerns over carbon emissions, energy security, and climate change. Technological institutions in various countries have already invested in pilot and demonstration projects related to the production, storage, distribution, and utilization of green hydrogen across different business verticals. For a green hydrogen economy to become a reality, technological and economical breakthroughs are needed to bring down the costs associated with production; other needs are decisive regulatory frameworks to promote investments and support in research and development (R&D) activities related to technologies for the production, storage, transport, and utilization of hydrogen.

Currently, green hydrogen account less than 1% of the total hydrogen produced. The global demand for green hydrogen and its emerging applications is expected to increase exponentially in the next 20 years, creating need for considerable infrastructure to handle production and delivery. It will take 10 to 20 years before a green hydrogen economy becomes mainstream across the global power sector and other segments.

The primary aim of this research is to analyze the current and future market potential of green hydrogen as an energy carrier driving transition toward a sustainable energy future. The study identifies growth opportunities for the green hydrogen market in the global power sector and some of the key countries and companies active in this space.

Table of Contents

1. Strategic Imperatives
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
Impact of the Top Three Strategic Imperatives on Green Hydrogen in the Global Power Market
Growth Opportunities Fuel the Growth Pipeline Engine™
2. Executive Summary
Green Hydrogen Roadmap to 2050 in the Global Power Sector
Green Hydrogen Industry: Hotspots
Growth Opportunities for Green Hydrogen
3. Growth Opportunity Analysis - Green Hydrogen in the Global Power Sector
Research Aim
Study Coverage and Exclusions
Key Questions this Study will Answer
Moving toward Decarbonization
Green Hydrogen: A Catalyst Accelerating Transition toward Sustainable Green Economy
Green Hydrogen in Energy Transition: Applications
Green Hydrogen Production Pathways
Green Hydrogen Production Pathways: Technology Maturity Level
Green Hydrogen: Two Major Applications across the Power Sector
Key Companies Working on Green Hydrogen Initiatives
Market Drivers
Green Hydrogen in Power Sector: Key Market Drivers
Market Restraints
Green Hydrogen in Power Sector: Key Market Restraints
4. Growth Environment - Key Market Trends
Key Market Trends
Power-to-X Technology
Strong Partnerships to Drive Pilot and Demonstration Projects
Decreasing Costs and Increasing Economies of Scale
Hydrogen as a Lifeline for Nuclear Energy
Ammonia as a Green Carrier
Africa for Hydrogen
5. Growth Environment - Market Forecasts
Green Hydrogen: Global Production Forecast
The Global Green Hydrogen Market: Production Forecast Discussion
Global Green Hydrogen: Electrolyser Cumulative Installed Capacity
Global Green Hydrogen: Electrolyser Cumulative Installed Capacity Discussion
Global Green Hydrogen: Electrolyser Regional Cumulative Installed Capacity
Global Green Hydrogen: Electrolyser Regional Cumulative Installed Capacity Discussion
6. Growth Environment - Regional Analysis
Green Hydrogen Industry: Regional Analysis
Green Hydrogen Industry: Hotspots
North America
North America: Forecast Discussion and Pilot Projects
Europe: Forecast Discussion
Europe: List of Planned Pilot and Demonstration Projects
Latin America
Latin America: Green Hydrogen Developments
Latin America: Forecast Discussion
Asia-Pacific Forecast Analysis and Pilot Projects
The Middle East and Africa
The Middle East and Africa Forecast Analysis and Pilot Projects
7. Growth Environment - Competitive Analysis
The Green Hydrogen Value Chain
Competitive Landscape: Hydrogen Ecosystem
Competitive Landscape: Green Hydrogen Ecosystem
Companies to Watch: NEL
Companies to Watch: Hydron Energy
Companies to Watch: Horizon Fuel Cell Technologies
Companies to Watch: Hydrogen Pro
8. Growth Opportunity Universe - Green Hydrogen
Growth Opportunity 1: Power-to-X Pathways for the Decarbonization and Management of the Power Sector, 2019
Growth Opportunity 2: Blending Green Hydrogen into Existing Natural Gas Pipelines to Reduce CO2 Emissions, 2019
Growth Opportunity 3: Primary and Secondary Power Source for Commercial and Industrial Applications, 2019
Growth Opportunity 4: Combination of Lithium-Ion and Hydrogen Storage Systems Acting as a Primary and Backup Power Source, 2019
Growth Opportunity 5: CHP Fuel Cells for Industrial and Commercial Applications, 2019
Growth Opportunity 6: Green Ammonia as an Energy Source, 2019
9. Next Steps
Your Next Steps
Why the Publisher, Why Now?
Legal Disclaimer
List of Exhibits

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Horizon Fuel Cell Technologies
  • Hydrogen Pro
  • Hydron Energy
  • NEL