Hydrogen market attractiveness rating (HyMAR) report – October 2021

As the world gathers in Scotland at COP26 to agree on carbon reduction targets, we have released this report which highlights the rapid growth of low carbon hydrogen demand and supply globally.

Our biannual Hydrogen Market Attractiveness Rating (HyMAR) Report assesses the most attractive countries in Europe to invest in for low carbon hydrogen, based on policy, incentive schemes, production costs and likely centres of hydrogen demand.

Highlights from this report include:

  • Germany, the Netherlands, and the UK remain the most attractive markets for investment in hydrogen in Europe, with France and Norway close behind in joint fourth place. Since the last edition of HyMAR, the UK has announced its long awaited hydrogen strategy. As ambitious as this strategy is, some other European countries are either more ambitious or further ahead in implementing hydrogen incentives
  • Aurora’s global electrolyser database now indicates 342.9 GW of projects planned for delivery by 2040, an increase of 90 GW since the April edition of HyMAR
  • The vast majority of electrolyser projects are still located in Europe, but the share has fallen from 85% to 57%
  • Hydrogen production via electrolysis remains more expensive than blue or grey hydrogen, but Aurora’s modelling suggests that green hydrogen can reach cost parity in some cases by 2030. The main driver for this is cost of electricity, with Norway able to offer both the cheapest grid supplied electricity, and the lowest cost renewables within Europe.

 
This is a limited, free version of our HyMAR report. The full version is available to our European Hydrogen service subscribers via our EOS platform. The full database is also available for download by European Hydrogen service subscribers.

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