2024 State of the European Hydrogen Market Report
The State of the European Hydrogen Market Report provides an independent view of latest developments in the EU and UK. It is intended to be the first of a series of annual publications which will provide a snapshot overview of how the European hydrogen market is progressing each year. It covers both qualitative information, details of the relevant regulatory frameworks and quantitative Key Performance Indicators.
Some of the key takeaways include:
- In 2023, important progress has been made in completing the hydrogen regulatory framework, but some important parts are still missing, particularly in the EU.
- The UK and EU have different regulatory approaches, but it is too early to say which is the winning approach.
- Neither the EU or UK have make significant progress in deployment of low-carbon hydrogen in 2023 and it is most unlikely that the 2030 targets will be achieved.
- Europe has announced one of the largest budgets for low-carbon hydrogen development, but further work is needed to translate that funding into actual project commitments.
- More progress is needed on implementing quotas for hydrogen use and expanding domestic electrolyser manufacturing.
