PV Tech Research, the leading resource covering renewable energy supply chains, today launched its first-ever global database of green hydrogen projects. This comprehensive database provides unique insights into the market with a full audit trail of global green hydrogen projects exceeding 1MW in size.
The database addresses the critical need for a deeper understanding of market dynamics and key players in this rapidly emerging sector. Key findings from the database highlight China’s dominance in global project construction and future pipeline activity, while also indicating a growing trend towards the development of large-scale projects in regions with abundant renewable energy resources.
“The global green hydrogen market is experiencing rapid growth as countries accelerate their efforts to decarbonize their energy mix,” notes Joe Hennessy, Research Analyst at PV-Tech Research, Informa Markets. “Understanding the key developments and identifying emerging opportunities is crucial for investors and suppliers within this dynamic industry.”
Analysis of the database reveals that Chinese companies account for over 65 percent of global capacity installed, primarily driven by a lower levelized cost of hydrogen (LCOH). China also holds a leading position in the production of alkaline electrolyzers, the dominant technology utilized in large-scale green hydrogen projects.
While China leads in current installations, Europe presents a strong opportunity pipeline, particularly in countries with abundant renewable energy resources such as Spain (solar), Germany (wind), and the Nordic region (hydro and wind). The European Commission’s initiatives, along with the growing interest of oil and gas companies in utilizing hydrogen for industrial purposes, are expected to further drive the growth of the green hydrogen sector in Europe.
The global green hydrogen market is currently characterized by diverse government support mechanisms, including the 45V tax credits in the U.S. and the European Hydrogen Bank and H2Global auctions.
The database analysis indicates that while most of the current projects are in the early stages of development, the average size of future projects is expected to increase significantly. This suggests a strong trajectory for capacity build-out within the green hydrogen sector over the next decade.
To gain access to the exclusive Green Hydrogen – Global Completed Assets & Pipeline Database, please visit marketresearch.solarmedia.co.uk.
