Blog - Australia Hydrogen Electrolyzer Market Volume Demand Insights 2022

2021-09-28

Australia Hydrogen Electrolyzer Market: For instance, as per the clean energy council organization report, Australia has the largest renewable energy production capacity, reaching around 2.2 GW across 34 projects in 2019

 Australia hydrogen electrolyzer market is valued at US$ 5,549.02 thousand in 2019 and is estimated to grow at a CAGR of 21.6% over the forecast period to reach a US$ 20,203.88 thousand by 2027

Australia has the highest market share for the growth of the hydrogen electrolyzer market. This is primarily due to the rising demand for electricity generation using renewable energy sources such as solar, wind, etc. For instance, as per the clean energy council organization report, Australia has the largest renewable energy production capacity, reaching around 2.2 GW across 34 projects in 2019. Among these, solar energy has the highest, more than two-thirds of renewable energy contribution. Thus to use and store such a massive amount of the electricity generated through renewable energy sources, hydrogen electrolyzer has created enormous demand in this country

Also, the lack of fossil fuel availability in Australia and rising government support and funding to promote clean carbon-free energy have created a massive demand for the hydrogen electrolyzer in this country. For instance, the Australian Federal Parliament has provided significant support and funding for hydrogen and fuel cell innovation with an investment of around US$ 784 million to "supercharge" Australia’s hydrogen industry. It created a massive demand for the hydrogen electrolyzer market in this region

Also, in the Pilbara region in Australia, the local mining industry has created15 GW of solar and wind capacity to supply electricity for hydrogen commodity production using electrolysis in 2019. Further in 2018, a 50 MW wind and solar-fuelled hydrogen electrolyzer has been build as part of a new Hydrogen Hub at Neoen near Crystal Brook, Australia. Also, in 2018, a 30 MW hydrogen electrolyzer has been installed at Port Lincoln, South Australia, which can produce 50 tonnes per day at in 2018

Further on Australian and Victorian government has contributed to around US$ 37 million for the establishment of the hydrogen production plant in Australia. The plant will produce around 5000 tons of hydrogen and the liquefaction facility is being completed by June 2020

South Australia has significant renewable generation capacity with limited interconnection with the rest of the country. It is an ideal site for hydrogen production from solar and wind power, which can help integrate these renewable energy sources.

Further, significant potential for renewable power generation at low cost exists in areas with minimal electricity demand. Therefore, large-scale facilities can be deployed as fully dedicated to hydrogen production

Australian Federal Government’s National Hydrogen Strategy has launched a funding package of around US$ 13.4 million, which focused on growing Australia’s hydrogen industry

Also, the Australian Government has reserved around US$ 370 million from existing Clean Energy Finance Corporation (CEFC) and Australian Renewable Energy Agency (ARENA) funding for new hydrogen projects

Further, in 2019, CEFC committed around US$ 300 million through a new Advancing Hydrogen Fund. Also, ARENA provided with US$70 million to kick-start hydrogen electrolyzer projects in Australia

Further on 27th Nov 2020, Origin Energy Sydney-based Australian power has planned to establish a 300 MW electrolyzer near Townsville, Queensland, Australia, for the production capacity of more than 36,000 tons of green hydrogen per year. It created a massive demand for the hydrogen electrolyzer in the country

Further, increasing launching and development of the hydrogen electrolyzers by the leading manufacturers in Australia coupled with government support and funding in this country have created a massive demand for the hydrogen electrolyzer market's growth in this country. For instance, in May 2019, in Queensland, Australia Hydrogen Industry Strategy was released, which includes two funding streams to support hydrogen projects with an investment of around US$ 11 million in the industry for plant and equipment such as hydrogen electrolyzer in the country. It created a massive demand for the growth of this market

Also, in July 2019, the Western Australian Renewable Hydrogen Strategy was released, which supported with US$ 7 million for the renewable hydrogen fund and enhanced the hydrogen export to Asian markets

In addition to this, Australia’s government has put around US$ 44.3 million for the deployment of renewable hydrogen projects in Australia, which created a massive demand for the hydrogen electrolyzer used in this country for hydrogen production

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