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Summary and extracts
1 Market Overview
1.1 Definition and presentation
Hydrogen, known by the chemical formula "H2," has several applications in a variety of processesindustry and also in various sectors, mainly as a source of energy. It is very difficult to find pure hydrogen in nature; in fact, it is often bound with other raw elements and requires a chemical process to be extracted and "purified." Depending on the sustainability of the refining process from which hydrogen is extracted, it could be defined by different colors: black, gray, blue, purple and green. Black is the hydrogen whose refining produces the most CO2, while green is the most sustainable. Today, hydrogen is only a small fraction of the EU's energy mix, and more than 95 percent is extracted from fossil fuels, mainly natural gas. Green hydrogen will be a great solution to be more sustainable and drastically reduce CO2 emissions for both industrial enterprises and automobiles.
The global hydrogen market grew rapidly after 2020, by 2023, the global hydrogen market was worth about $222 billion and is expected to grow at a compound annual growth rate (CAGR) of 7-9% until 2030, reaching over $400 billion by then. This growth is fueled by increased demand for hydrogen for decarbonization in sectors such as transportation and industry, as well as the expansion of green hydrogen infrastructure, especially in Europe and Asia.
In Italy, the hydrogen sector is seeing a significant increase in investment, particularly in green hydrogen. In 2023, the green hydrogen market in Italy generated about $309.6 million, with expectations of growth to $3.4 billion by 2030, with an impressive CAGR of 41 percent from 2024 to 2030. Most of this growth will be driven by the use of hydrogen in transportation and power generation. The Italian government has planned investments of about €10 billion by 2030 to support green hydrogen production, with a plan to implement about 5 gigawatts of electrolysis capacity to support these goals
Italy's hydrogen potential, supported by favorable geographic and climatic conditions, is seen as crucial to achieving the country's energy transition goals, contributing to significant reductions in CO2 emissions and greater energy independence
1.2 The world market
he global hydrogen market has accelerated significantly in recent years. In ****, the global hydrogen market was valued at about $***.* billion and is expected to reach $***.* billion by ****, with a CAGR of **.* percent between **** and **** MarketsandMarkets.
Global hydrogen market progression World, ****-****, billion Market and Markets
The increase in demand for hydrogen ...
1.3 The domestic market
The hydrogen market in Italy is undergoing an important growth phase, driven by both government initiatives and private investment, with the goal of achieving the decarbonization targets set at the national and European level.According to recent reports, the Italian green hydrogen market generated revenues of approximately $***.* million in **** and is ...
1.4 The trade
Hydrogen trade is still underdeveloped. In Italy, in ****, imports did not touch US$* million in countervalue and exports were less than half.
There is a lack of infrastructure, as is the case with natural gas, to move large quantities by taking advantage of pipelines; hydrogen is an element that occupies a ...
Inflation suffered by the sector
The graph shows the trend of the producer price index of the electricity, gas and other fuels industry in Italy over the period from **** to ****, with base ****=***. The index starts from a value of about ***.* in September **** and reaches its peak in November **** with a value of ***.*. After this peak, it ...
2 Demand analysis
2.1 The question
Demand for hydrogen in Italy is still low, however, we can begin to identify the first encouraging signs, coming mainly from the oil refining industry.
The graph shows a large gap between the expected consumption of hydrogen in the Italian industry and the theoretical potential available. Between **** and ****, consumption remains very ...
2.2 The transportation sector
The transportation sector is the one that, in the long run, seems likely to account for the largest share of demand. It is divided into:
Road transport:
Light mobility: cars and vehicles. There are already hydrogen-powered cars on the market, all of which use it as batteries and generally provide a ...
2.3 The demand of the real estate sector
The real estate sector:
In the short term, however, it seems that one of the easiest uses to implement is in the construction sector. In particular, there are plans to start using a percentage of hydrogen in gas-fired systems that heat homes, which would reduce emissions. The building sector is responsible ...
3 Market structure
3.1 Market structure and dynamics
The hydrogen market is of recent development, it is therefore studied within the industrial gas production sector. Within this sector, the number of enterprises has remained virtually unchanged and rather small in recent years, in **** there are only **.
Number of enterprises by ateco code **.**: manufacture of industrial gases Italy, ****-****, in ...
3.2 The hydrogen value chain
The value chain consists of: production, processing, transportation and end use.
To date, hydrogen production is divided as follows:
Natural gas: *** Mtoe Coal: ** Mtoe Oil: * Mtoe Electricity: * Mtoe Indirect production as secondary prouct: ** Mtoe of which less than *.* derived from renewable energy
Materials used for hydrogen production World, ****, Metric tones oil ...
3.3 Distribution
The most efficient transportation method for hydrogen distribution continues to be the use of pipelines, which accounted for about ** percent of industry revenuesInternationalEnergy Agency in **** However, the need to expand this infrastructure is crucial to support the growing demand expected in the coming decades. In ****, increased interest was observed in the ...
3.4 The most important players
Globally, the most important companies for the hydrogen market are[Grandviewresearch:
Air Liquide: Air Liquide is a global leader in gases, technologies, and services for industry and healthcare. The company is highly focused on the development of environmentally friendly hydrogen solutions, particularly in the production of green hydrogen through water electrolysis ...
4 Supply analysis
4.1 Hydrogen as a chemical element
Hydrogen is themost abundant element in the universe (***), is colorless, odorless and tasteless, forms bonds with most other elements and is highly flammable.
It was discovered by Henry Cavendish in ****, the name comes from the Greek words hydro (***), in fact when hydrogen combines with oxygen it forms prorpio water. It was ...
4.2 The price
The price of hydrogen has decreased significantly in recent decades due to technological advances in production and transportation, as well as increased global supply. However, despite these advances, hydrogen still remains more expensive than fossil fuels and most other commonly used energy sources.
The cost of producing hydrogen varies widely by ...
4.3 New start-ups in the industry
BiSTEMS Founded in ****. This Italian startup specializes in hydrogen production by gasifying biomass using agricultural and forestry waste. This process enables the integration of renewable sources into sustainable energy production. BiSTEMS is working on solutions for integrating hydrogen into the agricultural and forestry sectors, contributing to the green energy transition
Nikola ...
5 Regulations
5.1 The regulatory landscape
The hydrogen regulatory framework has undergone significant updates in recent years, reflecting the evolution of European and global energy policies:
the European Hydrogen Strategy, updated in ****, continues to recognize hydrogen as a renewable energy source when produced through grid-connected electrolyzers, provided the energy used comes from renewable sources. The revised EU ...
6 Positioning of actors
6.1 Segmentation
- Enel green power S.p.a.
- Snam S.p.a.
- A2A S.p.a.
- Edison Next Spa
- Saipem S.p.a.
- Alboran Hydrogen S.p.a.
List of charts presented in this market study
- Countries with the highest hydrogen production according to the International Energy Agency (IEA)
- Global hydrogen production market progression
- Consumption Total Europe
- Turnover of enterprises active in the market
- Italian hydrogen market progression
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