Clean Hydrogen Radar - Q4 2023

Clean Hydrogen Radar - Q4 2023

November 8, 2022

This page was originally published on 08.11.2022. We updated the radar and related texts and graphics on 22.12.2023.

Making sense of the momentum in the global hydrogen economy

Climate change and serious geopolitical concerns have made the need to wean advanced economies off fossil fuels abundantly clear. In the process, both private-sector interests and public policymakers are increasingly discovering the potential of hydrogen to advance the transition to a climate-friendly economy. However, staying on top of such a fast-moving market is no easy task.

"In the new H2 economy, first movers will set the market standards and develop profitable positions along the value chain."
Portrait of Uwe Weichenhain
Senior Partner
Hamburg Office, Central Europe

Roland Berger has advised clients for over a decade on countless projects surrounding clean hydrogen. Our expertise ranges from crafting political concepts for governments and industry associations to developing strategies for all relevant sectors of industry.

The Clean Hydrogen Radar places our in-depth understanding of this dynamic market at your disposal in a clear and concise form. Distilled into sharply focused analyses, the insights we are gaining will keep decision-makers in industry and government up to speed on the latest developments as the hydrogen economy continues to accelerate.

What is the Clean Hydrogen Radar?

Roland Berger believes it is important for market players and market makers to grasp the strategic implications and direction of the hydrogen economy. The radar therefore takes a deep dive into the latest technological and commercial developments as well as relevant regulatory trends. Drawing on our international networks of experts, we cover developments in global key markets, breaking our analysis down into different segments:

  • Hydrogen strategies and national targets
    Government strategies and ambitions towards hydrogen adoption
  • Regulatory developments
    Regulatory developments influencing the adoption of hydrogen and derivatives
  • Upstream market
    Developments surrounding the production and supply of hydrogen and its derivatives
  • Midstream market
    Developments in the transportation and storage of hydrogen
  • Downstream market
    News on hydrogen demand and the many use cases along three sectors: Industry (e.g., steel, refining, chemicals), Mobility (e.g., fuel cell trucks, sustainable aviation fuels), Energy (e.g., hydrogen fueled heat and power plants)

In the quarterly radar, our experts analyze these developments, interpreting current events and bringing the bigger market picture clearly into focus. Obviously, a brief high-level summary alone cannot share the full wealth of Roland Berger’s market intelligence in this fascinating field. However, the Clean Hydrogen Radar will lay a firm foundation for strategic discussion with clients, government policymakers and the public at large – a discussion we expressly welcome!

Clean Hydrogen Radar

Highlights from the Q4 2023 update

In Q4 2023, there were further positive developments in the hydrogen sector, including major public events like the European Hydrogen Week and the 28th COP in Dubai. New announcements were made along the entire hydrogen value chain, including major hydrogen policy plans and gigafactory investments. These include:

  • US Department of Energy announces seven hydrogen hubs that will receive up to USD 7 bn in subsidy over the next decade
  • European Commission launches first European Hydrogen Bank auction with EUR 800 m of subsidies for renewable hydrogen production
  • Danish company GreenGo Energy unveils plans to build a 35 GW green hydrogen plant in the desert of Mauritania called “Megaton Moon.”
  • German government to create a 9,700 km, EUR 20 bn core grid of hydrogen pipelines by 2032, backed by state guarantees.
  • The first "Tre FCEV" hydrogen trucks from Nikola Motors begin rolling off the production line in Arizona. The production facility currently has a total potential of 2,400 trucks per year.
  • Vulcan Green Steel begins construction of USD 3 billion plant in Oman to produce green steel.

After several further announcements of large electrolyzer projects, the current total for announced projects is approximately 475 GW of green hydrogen production capacity by 2030. However, Roland Berger’s assessment, which considers project failure rates, expects approximately 119 GW capacity by 2030.
But how can structural policies be scaled up and expanded to ensure that the necessary underlying demand is triggered by 2030? To make the vision for 2030 and beyond a reality, Roland Berger believes that the right structural policies, incentives, regulations, and approaches need to be put in place now. Laying the groundwork today will accelerate the development of hydrogen technology – and help to reach the global goal of decarbonization. Read more about the growth trajectory for hydrogen in our latest study “The Roaring ’30s – A clean hydrogen acceleration story” here .

"Clean hydrogen is coming. It is an essential ingredient in the decarbonization agenda."
Portrait of Yvonne Ruf
Senior Partner
Dusseldorf Office, Central Europe

What does the future hold for the hydrogen economy?

Recent market developments and world events make it clear: Industry leaders and public policymakers need to keep a very close eye on how the clean hydrogen economy unfolds going forward. So stay tuned for our next update to the Clean Hydrogen Radar. But don’t just leave it at that: Reach out and engage with us in discussing what these developments mean for your strategy and your organization.

We look forward to hearing from you!

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