Market Overview

The demand for green hydrogen is growing significantly in the Southeast Asia market due to the increasing use of flexible power systems and the demand for wide hydrogen applications.

Green hydrogen is generated entirely by renewable energy such as solar and wind. Green hydrogen has significantly lower carbon emissions than grey hydrogen produced by steam-reforming natural gas and is 95% of the market.

Southeast Asia’s green hydrogen market has been driven by growing demand for hydrogen in end-use industries and flexible power systems, allowing wide application of hydrogen. The market’s growth is hampered by high production costs. However, the scaling up of technologies is a lucrative opportunity for market growth over the forecast period.

Market Segmentation

The Southeast Asia green hydrogen market has been segmented based on product, application, and country. Based on product, the Southeast Asia green hydrogen market has been segmented into Liquid H2, Gaseous H2, Methanol and other Synthetic Fuel, Ammonia, and LOHC. The ammonia segment is expected to grow at 22.3% during the forecast period. In 2020, the ammonia green hydrogen segment held a share of 29.7% of the Southeast Asia green hydrogen market.

Based on application, the Southeast Asia green hydrogen market has been segmented into Transport, Power Generation, and Industrial. The industrial segment is expected to grow at 21.13% during the forecast period. In 2020, the industrial segment held a 47.1% share of the Southeast Asia green hydrogen market.

Regional Analysis

The Southeast Asia green hydrogen market has been segmented, based on country, into Singapore, Malaysia, Thailand, Philippines, Cambodia, Vietnam, Indonesia, and the Rest of Southeast Asia.

Major Players

During the study, we have analyzed some of the major players in the Southeast Asia Green hydrogen market who have contributed to the market growth, including Sarawak Energy, Pertamina, PTT, HDF Energy, Toshiba Energy System & solution corp, and SP group.

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY
1.1 SOUTHEAST ASIA GREEN HYDROGEN MARKET, BY PRODUCT TYPE
1.2 SOUTHEAST ASIA GREEN HYDROGEN MARKET, BY APPLICATION

2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS

4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 GROWING DEMAND FOR HYDROGEN IN END-USE INDUSTRIES AND FLEXIBLE POWER SYSTEM
4.2.2 WIDE APPLICATION OF HYDROGEN
4.2.3 DRIVER IMPACT ANALYSIS
4.3 RESTRAINTS
4.3.1 HIGH PRODUCTION COSTS
4.3.2 RESTRAINT IMPACT ANALYSIS
4.4 OPPORTUNITY
4.4.1 SCALING UP OF TECHNOLOGIES
4.5 IMPACT ANALYSIS OF COVID-19
4.5.1 IMPACT ON OVERALL ENERGY INDUSTRY
4.5.1.1 ECONOMIC IMPACT
4.5.2 IMPACT ON THE GREEN HYDROGEN MARKET
4.5.3 IMPACT ON SUPPLY CHAIN OF GREEN HYDROGEN MARKET
4.5.4 IMPACT ON DEMAND OF GREEN HYDROGEN
4.5.5 IMPACT ON PRICING OF GREEN HYDROGEN

5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS
5.1.1 R&D
5.1.2 RAW MATERIAL SUPPLY
5.1.3 MANUFACTURER & ASSEMBLY
5.1.4 SALES & DISTRIBUTION
5.1.5 END USE
5.2 PORTER’S FIVE FORCES MODEL
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 THREAT OF SUBSTITUTES
5.2.4 BARGAINING POWER OF BUYERS
5.2.5 INTENSITY OF RIVALRY

6 SOUTHEAST ASIA GREEN HYDROGEN MARKET, BY PRODUCT
6.1 OVERVIEW
6.1.1 SOUTHEAST ASIA GREEN HYDROGEN MARKET ESTIMATES & FORECAST, BY PRODUCT, 2019–2030
6.2 LIQUID H2
6.3 GASEOUS H2
6.4 METHANOL & ANY OTHER SYNTHETIC FUEL
6.5 AMMONIA
6.6 LOHC

7 SOUTHEAST ASIA GREEN HYDROGEN MARKET, BY APPLICATION
7.1 OVERVIEW
7.1.1 SOUTHEAST ASIA GREEN HYDROGEN MARKET ESTIMATES & FORECAST, BY APPLICATION, 2019–2030
7.2 TRANSPORT
7.3 POWER GENERATION
7.4 INDUSTRIAL

8 SOUTHEAST ASIA GREEN HYDROGEN MARKET, BY COUNTRY
8.1 OVERVIEW
8.1.1 MALAYSIA
8.1.2 THAILAND
8.1.3 SINGAPORE
8.1.4 PHILIPPINES
8.1.5 CAMBODIA
8.1.6 VIETNAM
8.1.7 INDONESIA
8.1.8 REST OF SOUTHEAST ASIA

9 RECOMMENDATION FOR SOUTHEAST ASIA GREEN HYDROGEN MARKET
9.1 OVERVIEW
9.2 PRIORITY SECTORS
9.3 QUANTIFYING THE OPPORTUNITY IN GREEN HYDROGEN
9.4 ESTABLISHING ROBUST CLEAN HYDROGEN PRODUCTION STANDARDS IS THE FIRST POLICY RECOMMENDATION.
9.5 ADDRESS THE GREEN HYDROGEN COST PREMIUM IN THE SHORT TERM IS THE SECOND POLICY RECOMMENDATION
9.6 ENACT POLICIES FOR COMPREHENSIVE INDUSTRIAL DECARBONIZATION IS THE THIRD POLICY RECOMMENDATION
9.7 THE NEED TO ACT TODAY LIKE

10 COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPETITIVE BENCHMARKING
10.3 MARKET SHARE ANALYSIS
10.4 KEY DEVELOPMENTS IN THE SOUTHEAST ASIA GREEN HYDROGEN MARKET
10.4.1 PRODUCT LAUNCH
10.4.2 PARTNERSHIP
10.4.3 COLLABORATION
10.4.4 EXPANSION
10.5 LIST OF POTENTIAL END USERS IN THE SOUTHEAST ASIA GREEN HYDROGEN MARKET

11 COMPANY PROFILES
11.1 PETROLIAM NASIONAL BERHAD (PETRONAS)
11.1.1 COMPANY OVERVIEW
11.1.2 FINANCIAL OVERVIEW
11.1.3 PRODUCTS OFFERED
11.1.4 KEY DEVELOPMENTS
11.1.5 SWOT ANALYSIS
11.1.6 KEY STRATEGIES
11.2 AIR LIQUIDE
11.2.1 COMPANY OVERVIEW
11.2.2 FINANCIAL OVERVIEW
11.2.3 PRODUCTS OFFERED
11.2.4 KEY DEVELOPMENTS
11.2.5 SWOT ANALYSIS
11.2.6 KEY STRATEGIES
11.3 LINDE
11.3.1 COMPANY OVERVIEW
11.3.2 FINANCIAL OVERVIEW
11.3.3 PRODUCTS OFFERED
11.3.4 KEY DEVELOPMENTS
11.3.5 SWOT ANALYSIS
11.3.6 KEY STRATEGIES
11.4 AIR PRODUCTS INC.
11.4.1 COMPANY OVERVIEW
11.4.2 FINANCIAL OVERVIEW
11.4.3 PRODUCTS OFFERED
11.4.4 KEY DEVELOPMENTS
11.4.5 SWOT ANALYSIS
11.4.6 KEY STRATEGIES
11.5 UNIPER SE
11.5.1 COMPANY OVERVIEW
11.5.2 FINANCIAL OVERVIEW
11.5.3 PRODUCTS OFFERED
11.5.4 KEY DEVELOPMENTS
11.5.5 SWOT ANALYSIS
11.5.6 KEY STRATEGIES
11.6 HYGEAR
11.6.1 COMPANY OVERVIEW
11.6.2 FINANCIAL OVERVIEW
11.6.3 PRODUCTS OFFERED
11.6.4 KEY DEVELOPMENTS
11.7 PERTAMINA
11.7.1 COMPANY OVERVIEW
11.7.2 FINANCIAL OVERVIEW
11.7.3 PRODUCTS OFFERED
11.7.4 KEY DEVELOPMENTS
11.7.5 SWOT ANALYSIS
11.7.6 KEY STRATEGIES
11.8 PTT
11.8.1 COMPANY OVERVIEW
11.8.2 FINANCIAL OVERVIEW
11.8.3 PRODUCTS OFFERED
11.8.4 KEY DEVELOPMENTS
11.8.5 SWOT ANALYSIS
11.8.6 KEY STRATEGIES
11.9 SARAWAK ENERGY
11.9.1 COMPANY OVERVIEW
11.9.2 FINANCIAL OVERVIEW
11.9.3 PRODUCTS OFFERED
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIES
11.10 HDF ENERGY
11.10.1 COMPANY OVERVIEW
11.10.2 FINANCIAL OVERVIEW
11.10.3 PRODUCTS OFFERED
11.10.4 KEY DEVELOPMENTS
11.10.5 SWOT ANALYSIS
11.10.6 KEY STRATEGIES
11.11 SP GROUP
11.11.1 COMPANY OVERVIEW
11.11.2 FINANCIAL OVERVIEW
11.11.3 PRODUCTS OFFERED
11.11.4 KEY DEVELOPMENTS
11.11.5 SWOT ANALYSIS
11.11.6 KEY STRATEGIES
11.12 TOSHIBA ENERGY SYSTEM & SOLUTION CORP
11.12.1 COMPANY OVERVIEW
11.12.2 FINANCIAL OVERVIEW
11.12.3 PRODUCTS OFFERED
11.12.4 KEY DEVELOPMENTS
11.12.5 SWOT ANALYSIS
11.12.6 KEY STRATEGIES

The post Southeast Asia Green Hydrogen Market Research Report Forecast to 2030 first appeared on CRI Report.

The global green hydrogen market was valued at $227.7 million in 2021 and is projected to reach $108.64 billion by 2031, registering a CAGR of 68.9% between 2022 and 2031 in terms of value.

Green hydrogen is a hydrogen-produced fuel obtained from the electrolysis of water with electricity generated by renewable energy sources. Hydrogen is one of the prominent energy carriers that can be used in different applications, such as oil and gas, industrial feedstock, mobility, and power generation.

Various countries and regions, including Europe, the U.K., China, South Korea, Japan, Canada, South Africa, and the U.S., have adopted net zero objectives. These developments of national and international “net zero” objectives has been one of the most noteworthy characteristics of climate policy in recent years.

Renewables and batteries can help to decarbonize power generation and the automobile industry. Heating may also be decarbonized in some areas by using heat pumps driven by renewable energy.

Market Lifecycle Stage

The green hydrogen market has been developing significantly since early 2000, and much has been attributed to the technological advancements in this field. The ecosystem of the green hydrogen market comprises technology suppliers, green hydrogen producers, and end users. The market is still developing, with Europe at the forefront, followed by other regions such as North America, Asia-Pacific, the U.K., China, and Rest-of-the-World.

Industrial Impact

• Green hydrogen is one of the gases with an increase in demand from the petroleum refining industry due to its function in different refining processes such as hydrocracking, hydroisomerization, hydrodealkylation, and hydrodesulfurization, and it has a high impact on the oil and gas sector.

• Furthermore, green hydrogen has a moderate to high impact on the industrial feedstock sector, as green hydrogen is used in the production of ammonia, methanol, steel, and other industrial products.

Impact of COVID-19

The COVID-19 pandemic considerably impacted the production of green hydrogen because of country-wide shutdowns of manufacturing sites, labor shortages, and disruptions in supply and demand chains globally, which distorted the market. The supply of green hydrogen declined in industrial sectors such as industrial feedstock and oil and gas.

Amid the pandemic, major announced projects got delayed; however, they are expected to gain traction with economic recovery during the post-pandemic period.

Market Segmentation:

Segmentation 1: by Application

• Oil and Gas
• Industrial Feedstock
o Ammonia
o Methanol
o Steel
o Others
• Mobility
• Power Generation
• Others

Oil and gas is anticipated to be one of the prominent end-use markets for green hydrogen during the forecast period 2022-2031.

Segmentation 2: by Technology

• Proton Exchange Membrane (PEM) Electrolyzer
• Alkaline Electrolyzer
• Anion Exchange Membrane
• Solid Oxide Electrolyzer

Based on technology, the green hydrogen market is estimated to be led by alkaline electrolyzer during the forecast period, 2022-2031.

Segmentation 3: by Region

• North America – U.S., Canada, and Mexico
• Europe – Germany, France, Italy, Spain, Russia, and Rest-of-Europe
• China
• U.K.
• Asia-Pacific and Japan – Japan, India, South Korea, Australia, and Rest-of-Asia-Pacific
• Rest-of-the-World

In the global green hydrogen market, Europe and North America are anticipated to gain traction in terms of green hydrogen production, owing to the continuous growth in the oil and gas industry and the presence of the world’s largest manufacturers in those regions.

Recent Developments in Green Hydrogen Market

• In August 2022, Linde inaugurated the world’s first hydrogen refuelling system for passenger trains in Bremervorde, Germany. The company’s hydrogen refuelling system has been designed and constructed with the ability to integrate future on-site green hydrogen generation.
• In March 2022, Air Liquide received support from the French State, subject to final validation by the European Commission, to launch its Air Liquide Normand’Hy large-scale renewable hydrogen production project. This electrolyzer of an initial 200 MW capacity, which should notably provide renewable hydrogen to TotalEnergies’ Normandy refinery and will use Siemens Energy technology.
• In November 2022, Air Products and Associated British Ports (ABP) partnered to bring the first large-scale, green hydrogen production facility to the U.K. The facility would import green ammonia from production locations operated by Air Products and its partners around the world. This would be used to produce green hydrogen, which would decarbonize hard-to-abate sectors such as transport and industry.

Demand – Drivers and Limitations

Following are the demand drivers for the green hydrogen market:

• Increasing Awareness Regarding Green Hydrogen
• Low Variable Renewable Energy (VRE) Electricity Cost

The market is expected to face some limitations due to the following challenges:

• High Cost of Production
• Limited Dedicated Transport Infrastructure

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different technologies involved in the green hydrogen market. The technology segment includes a proton exchange membrane electrolyzer, alkaline electrolyzer, anion exchange membrane, and solid oxide electrolyzer. Moreover, the study provides the reader with a detailed understanding of the green hydrogen market based on application, including oil and gas, industrial feedstock, mobility, power generation, and others. The government imposing stringent regulations related to carbon emissions is fuelling the demand for green hydrogen.

Growth/Marketing Strategy: The green hydrogen market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been business partnership and collaboration to strengthen their position in the green hydrogen market. For instance, in July 2019, Linde and Beijing Green Hydrogen Technology Development Co., Ltd. signed a memorandum of understanding (MoU). The businesses are collaborating on several green hydrogen initiatives, including hydrogen technology research and development and the deployment of green hydrogen transportation solutions for China’s inaugural hosting of the Winter Olympics in 2022.

Competitive Strategy: Key players in the green hydrogen market analyzed and profiled in the study involve green hydrogen manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the green hydrogen market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

Green hydrogen is mainly being utilized in the oil & gas, and mobility industry. At present, hydrogen production mainly relies on natural gas and coal, accounting for 99 percent of production. Electrolysis produces approximately 1 percent of global hydrogen. At present, renewable energy does not produce a large amount of hydrogen, and green hydrogen is mostly limited to demonstration projects.

Key Companies Profiled

• Linde
• Air Liquide
• Air Products Inc.
• ENGIE
• Uniper SE
• Siemens Energy
• Green Hydrogen
• Cummins Inc.
• Toshiba Energy Systems & Solutions Corporation
• Nel ASA
• SGH2 Energy Global, LLC
• PLUG POWER INC.
• Aker Horizons
• HY2GEN AG
• Fusion-Fuel

The post Green Hydrogen Market – A Global and Regional Analysis: Focus on Application, Technology – Analysis and Forecast, 2022-2031 first appeared on CRI Report.

Global Green Hydrogen Market to surpass USD 37 billion by 2031 from USD 0.46 billion in 2021 at a CAGR of 55.01% in the coming years, i.e., 2021-30.

Product Overview
Green hydrogen is a clean and fresh burning fuel that removes emissions by means of renewable energy to electrolyze water, extracting the hydrogen atom within it from its molecular twin oxygen. Green hydrogen is formed by the electrolysis of water for which electric power is operated, which is produced by renewable energy sources, such as wind or solar energy.

Market Highlights
Green Hydrogen Market is expected to project a notable CAGR of 55.01% in 2031
The presence of favorable government measures pushing towards the hydrogen economy coupled with growing environmental alarms regarding rising carbon emissions from fossil fuel usage is anticipated to boost the demand for the hydrogen economy. This trend is expected to offer a potential growth landscape for the market over the forecast years.

Green Hydrogen Market: Segments
Alkaline Electrolyzer segment to grow with the highest CAGR during 2021-31
Green Hydrogen Market is divided by Technology Type into Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, and Solid Oxide Electrolyzer. Alkaline Electrolyzer segment to be a larger contributor to Green Hydrogen Market growth during the forecast period. This is due to its high operating time capacity and low investment cost. Alkaline electrolysis uses several kinds of electrolytes that are extensively available and also cheap to produce. Electrolytes used in alkaline electrolysis can be easily replicable or exchangeable and also cover a very minimal corrosive influence on both electrodes. All these factors drive the growth of Alkaline Electrolyzer segment.
Wind segment to grow with the highest CAGR during 2021-31
Green Hydrogen Market is divided by Renewable source into Wind and Solar. Wind segment has the largest market share. Electrolyzers based on wind energy contribute to almost 52.8% of all green hydrogen by value in 2020. Wind plants are normally set up onshore or offshore. Offshore structures have standard output year long as compared to onshore plants. The price of wind energy has reduced by 44-78% from its peak in 2007-2010. This factor has given a driven to the adoption of wind power for green hydrogen production.

Market Dynamics
Drivers
Rising Government Strategies
European Hydrogen Backbone is a measure taken by the European Union to enhance the dedicated hydrogen transport infrastructure in Europe. The European hydrogen backbone initiative has been joined by many others operators from 11 European countries. The estimated total investment for advancement of infrastructure is approximately USD 45 billion. The hydrogen infrastructure maps which are available today reflect the perspectives of 23 gas transmission system operators (TSOs) on how infrastructure will grow to attain decarburization goals. These policies have contributed to the speedy growth of the green hydrogen market.
Increasing Investment
Increased investment in the growth of green hydrogen and attaining net-zero net carbon emissions are two main factors driving the green hydrogen market. Many companies all across the globe are increasing its wind portfolio. Thus, the increasing investment for manufacturing green hydrogen and growing utilization of green hydrogen from the end-user industry has further driven the growth of the green hydrogen market.
Restraint
High production cost
The production cost of green hydrogen market is high. The set up of industry, plant, and many other components makes the total production cost huge. Thus, the high production cost acts as a restraint in Green Hydrogen Market.

Green Hydrogen Market: Key Players
Linde (Ireland)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Guangdong Synergy Hydrogen Power Technology (China)
Siemens (Germany)
H&R Olwerke Schindler (Germany)
Cummins and Enbridge Gas (Canada)
Wind to Gas Energy GmbH & Co. KG (Germany)
Toshiba (Japan)
Nel (Norway)
Other Prominent Players
Impact of COVID-19 on Green Hydrogen Market
Many industries across the globe have been affected by the global pandemic caused by COVID-19. Inadequate supplies have affected several supply chains, raw material suppliers, miners, and others. COVID-19 has majorly affected global energy systems, reduced investments, and threatening to impede the spread of clean energy technology. The pandemic has also had a negative effect on the global green hydrogen market. Several industries, commercial buildings, and other facilities have been closed because of the nationwide lockdowns imposed by different countries. However, the post-pandemic growth of the market is booming. However, the global market for hydrogen is flourishing post-pandemic. Growing government measures for developing clean, green energy by the year 2031 coupled with major players in the green hydrogen manufacturing market is anticipated to boost the market growth in the forecast years.

Green Hydrogen Market: Regions
Global Green Hydrogen Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Europe is one of the largest markets for Green Hydrogen across the globe. The European Green Deal aims at dropping greenhouse gas emissions and preparing Europe’s firm for a climate-neutral economy. Major players in the European region, such as Porsche, BMW, and Audi, are focusing on the downsizing concept of car engines and manufacturing lightweight and fuel-efficient engines, which will also boost the growth of the green hydrogen market.
Green Hydrogen Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Green Hydrogen Market report also contains analysis on:
Green Hydrogen Market Segments
By Technology
Proton Exchange Membrane Electrolyzer
Alkaline Electrolyzer
Solid Oxide Electrolyzer
By Renewable source
Wind
Solar
Green Hydrogen Market Dynamics
Green Hydrogen Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints

Green Hydrogen Market Report Scope and Segmentation

Report Attribute Details
Market size value in 2021 USD 0.46 billion
Revenue forecast in 2031 USD 37 billion
Growth Rate CAGR of 55.01% from 2021 to 2031
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Technology, Renewable Sources, and Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Linde (Ireland), Guangdong Synergy Hydrogen Power Technology (China), Siemens (Germany), H&R Olwerke Schindler (Germany), Cummins and Enbridge Gas (Canada), Wind to Gas Energy GmbH & Co. KG (Germany), Toshiba (Japan), Nel (Norway) and Other Prominent Players.

The post Global Green Hydrogen Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030 first appeared on CRI Report.