Before Covid-19 Scenario On Australia and Japan Hydrogen Electrolyzer Market
The demand for the hydrogen electrolyzer before Covid-19 was increasing rapidly due to a surge in government funding and investment for cleaner and green energy for an emission-free environment. For instance, in 2019, Japan’s Ministry of Economy, Trade and Industry have allocated a separate budget and subsidies of around US$ 560 million for the development of hydrogen production-related technologies. Further, Australia and Japan aim to reduce the emission by implementing clean hydrogen technology-based hydrogen electrolyzer in the country. For instance, in 2019, in the Pilbara region in Australia, a hydrogen electrolyzer is installed which is powered by 15 GW solar and wind capacity to supply electricity to the local mining industry. Also, the demand for the hydrogen electrolyzer is driven by the surge in launching and sale of hydrogen based fuel cells vehicles in Australia and Japan. For instance the hydrogen fuel cell vehicles on 12th June 2020, the company, named H2X Australia have launched and planned to produce a wide range of hydrogen fuel cell vehicles (FCEVs) including movers to heavy duty vehicles such as tractors, cars etc. In addition to this, in January 2019, the Australian Federal Parliament also provided support for hydrogen and fuel cell innovation by allocating US$ 748 million to "supercharge" Australia’s hydrogen industry. Also, in 2018, Neoen, a renewable energy company, installed a 50 MW hydrogen electrolyzer powered by wind and solar as part of a new Hydrogen Hub at Crystal Brook, Australia. Also, in 2018, a 30 MW hydrogen electrolyzer with a capacity of 50 tons per day is installed in Port Lincoln, South Australia. The demand for the hydrogen electrolyzer was increasing before the Covid-19 pandemic due to government support and initiatives for hydrogen-related technologies.
Present Covid-19 Scenario On Australia and Japan Hydrogen Electrolyzer Market
Currently, the hydrogen electrolyzer demand is stable as several manufacturing industries related to metal, glass, pharmaceuticals, etc., have a sufficient supply of hydrogen as fuel. The demand for hydrogen as a fuel is increasing due to the launching of the new hydrogen-based vehicles with a surge in demand for hydrogen fuel stations. For instance, on 27th Nov 2020, Origin Energy Australian power provider has planned to accelerate hydrogen production plans with the installation of around 300 MW hydrogen electrolyzer and bi batteries in Australia. Thus demand is set to increase currently as several leading players are investing in the hydrogen-related project. Also, the factory produced Australia and Japan hydrogen electrolyzer are promoting the hydrogen development projects at all levels, including political-diplomatic economic and industrial groups due to cost-effective and massive investment for the Japanese government's deployment. For instance, on 23rd October 2020, the Canberra Australian government has awarded a US$ 36 billion project to Asian Renewable Energy Hub (AREH) to fast track mega hydrogen and renewable energy projects. Thus currently, the demand for the hydrogen electrolyzer in Japan and Australia remained stable with the surge in the mega investments and projects for hydrogen technologies by the leading players and government authorities
After Covid-19 Scenario On Australia and Japan Hydrogen Electrolyzer Market
After the Covid-19, the hydrogen electrolyzer demand will grow at a rapid pace due to a surge in the launch of hydrogen fuel cell vehicles with government subsidies to promote clean energy and emission-free vehicles. Currently as of 2019, Japan has around 127 hydrogen fueling stations and the government of Japan with METI has planned to launch around 160 fueling stations by 2021. Further, on 23rd Sept 2020, Japan H2 Mobility have intended to launch 24 more hydrogen stations in April 2021. Thus it may create massive demand for the hydrogen electrolyzer for producing hydrogen in Japan. Also, hydrogen fuel cell vehicles are being launched in Australia and the government is providing subsidies for promoting the sale of fuel cell vehicles, which may create a huge opportunity for the growth of the hydrogen electrolyzer market in Australia
Government Initiatives Related to the Market During Pandemic
The demand for the hydrogen electrolyzer amid Covid-19 is increasing due to a surge in government funding and investment for cleaner and green energy for an emission-free environment. For instance, in 2020, Japan’s Ministry of Economy, Trade and Industry has allocated a budget and subsidies of around US$ 748 million for the development of hydrogen related technologies such as hydrogen electrolyzer. It created support for the hydrogen electrolyzer manufacturer in Japan. Also, the Australian government has announced huge investment for the development of hydrogen-related technologies amid the Covid-19 pandemic. For instance, on 26th October 2020, the Australian government has set a fast-track plan of 26GW hydrogen and ammonia gas production to Asian Renewable Energy Hub. Further, the Australian government has allocated more than around US$ 430 million for supporting the development of a domestic hydrogen industry, including hydrogen electrolyzer, hydrogen fuelling station, etc. Also, several leading organizations have launched funding to support green technology to combat pollution. For instance, on ARENA, the Federal government has launched funding of around US$ 50 million for the renewable hydrogen deployment which aims to accelerate the cost reductions through commercial-scale electrolysis.
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