Growing focus on renewable energy and increasing demand for clean and green fuel are acting as key growth drivers for Australia hydrogen market.
According to TechSci Research report, “Australia Hydrogen Market By Technology (Steam Methane Reforming Vs. Membrane Cell Technology), By Mode (Captive Vs. Merchant), By Application (Petroleum Refinery, Ammonia Cracking, Chemical & Petrochemical and Others), By Region, Forecast & Opportunities, 2025”, the market is anticipated to witness a robust growth during the forecast period on account of rising pollution levels which is creating high demand for clean and green fuel in the country. The pursuit for renewable source of energy and availability of cost-effective ways of producing renewable hydrogen are also acting as major growth driver for Australia hydrogen market. Hydrogen is also increasingly being used as a raw material for various industrial purposes in Australia. Apart from that, the government has introduced certain regulations to control and limit the sulfur content in fuels which is also supporting the growth of Australia hydrogen market.
Furthermore, Australia has introduced national hydrogen strategies and the government has invested around $297 million in various hydrogen projects. Australian government also considers hydrogen energy as a way to strengthen the country’s energy exports sector. Australia’s key policy strategy “H2 under $2” has been launched to compete with other energy substitutes in large-scale deployment across the energy sector. All these factors are boosting the growth of Australia hydrogen market. In addition to this, the country is increasingly emphasizing on planet friendly alternatives to fossil fuel such as hydrogen fuel cell systems. Also, Australia is planning to develop first commercial scale hydrogen refueling station by 2020 which is expected to propel the growth of hydrogen market in coming years.
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Australia hydrogen market is segmented based on technology, mode, application, and region. Based on technology, the market can be fragmented into steam methane reforming and membrane cell technology. Among them, steam methane reforming is expected to undergo fastest growth during the forecast period on account of their increasing application in producing hydrogen along with other gases such as carbon dioxide and carbon monoxide. They are also considered to be the most economical method for hydrogen generation.
Based on mode, Australia hydrogen market can be categorized into captive and merchant. Among them, merchant mode is anticipated to witness significant CAGR through 2025 owing to the existing natural gas pipeline network in the country. Moreover, the construction of dedicated pipeline and shipping networks is also supporting increasing adoption of merchant based hydrogen generation in the country.
Major players operating in the Australia hydrogen market are BOC Australia Pty Limited, Air Liquide Australia Limited, and Engie Renewables Australia Pty Ltd, among others. Leading market players are focusing on using solar powered hydrogen generation system as it avoids carbon emission. Companies are also undergoing various organic and inorganic growth strategies to enhance their product portfolio. They now aim at increasing the export and become global leaders in hydrogen production.
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“Australia’s National Hydrogen Strategy aims to become world leader in clean hydrogen energy exports. The country is also moving towards using more sustainable energy sources at domestic level. In order to achieve this, CCS technologies are being used to produce clean hydrogen from natural resources such as coal and natural gas. The government is also trying to raise awareness pertaining to the benefits of hydrogen and fuel cells,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Australia Hydrogen Market By Technology (Steam Methane Reforming Vs. Membrane Cell Technology), By Mode (Captive Vs. Merchant), By Application (Petroleum Refinery, Ammonia Cracking, Chemical & Petrochemical and Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of hydrogen market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Australia hydrogen market.
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