Hydrogen Technology Testing, Inspection, and Certification Market to Witness Growth Powered by Stringent Safety Regulations
Hydrogen, as an energy carrier and fuel, has emerged as a viable alternative to conventional fossil fuels and is expected to play a crucial role in the future energy systems. Regulatory authorities worldwide have formulated strict safety standards to promote the safe design, construction, and operation of hydrogen technologies including generation, storage, distribution, and fuel cells.
Hydrogen Technology Testing, Inspection and Certification Market ensure that relevant equipment, components, materials, and products deployed in hydrogen value chain conform to prescribed technical specifications and design requirements. Key services offered include material certification, equipment inspection, hydrogen leak detection, pressure vessel testing, and fuel cell performance testing.
The Global Hydrogen Technology Testing, Inspection, and Certification Market is estimated to be valued at USD 6.1 Bn in 2024 and is expected to reach USD 24.4 Bn by 2031, growing at a compound annual growth rate (CAGR) of 17.9% from 2024 to 2031.
Key Takeaways
Key players operating in the hydrogen technology testing, inspection, and certification market are SGS SA, Applus+, TUV SUD, Bureau Veritas, Dekra, and Intertek.
The growing demand for clean energy is propelling the deployment of hydrogen technologies across various end-use industries such as automotive, electronics, energy, and industrial. This is fueling the need for extensive testing, inspection, and certification of relevant components and equipment.
Technological advancements in the hydrogen space such as carbon fiber reinforced pressure vessels, proton exchange membrane fuel cells, and carbon neutral steam methane reforming are requiring novel validation methodologies and certification schemes.
Market Trends
Decentralized hydrogen generation and distribution: The decentralized or on-site production of hydrogen using electrolyzers is gaining traction. This is increasing the requirement of field inspection and mobile certification services.
Digitization of certification processes: Testing institutions are developing digital tools and IoT-enabled equipment to streamline certification workflows, certify various product lifecycle stages remotely, and issue certificates online.
Market Opportunities
Expansion of hydrogen infrastructure in major economies: Countries worldwide are formulating hydrogen roadmaps and investing heavily in building hydrogen ecosystems including production plants, refueling stations, and fuel cell vehicles. This offers opportunities for testing firms.
Emergence of new hydrogen applications: Innovative applications of hydrogen such as in maritime shipping, aviation, long-haul trucks, residential and commercial combustion are opening up new testing domains.
Impact of COVID-19 on Hydrogen Technology Testing, Inspection, and Certification Market Growth
The outbreak of COVID-19 has posed significant challenges to the hydrogen technology testing, inspection, and certification market growth globally. Lockdowns and movement restrictions enforced by governments disrupted supply chains and halted construction activities. This led to postponing of various hydrogen projects where certification was required, impacting demand. Social distancing guidelines also halted on-site testing, inspection and certification activities temporarily.
However, with gradual lifting of lockdowns and restarting of projects, the market is witnessing signs of recovery. Growing focus on renewable energy integration is boosting hydrogen's role. Many nations announced stimulus packages targeting green infrastructure and technologies to drive economic revival. This comes as a growth opportunity for the hydrogen certification industry. Investments are flowing into building hydrogen infrastructure and fuel-cell vehicles. Further advancements in remote and digital solutions can help certification bodies to minimize disruptions even during crisis.
Geographical Concentration of Value in Hydrogen Technology Testing, Inspection, and Certification Market
Europe accounts for the lion's share in terms of value in the global hydrogen technology testing, inspection, and certification market. This is majorly attributed to the strong policy support and focus on hydrogen economy in countries like Germany and France. Large investments have been flowing into building hydrogen electrolyzers, refueling stations and fuel-cell transport systems. Certification of these assets according to international standards is crucial. Europe is also home to leading certification firms that are globally recognized.
Fastest Growing Region for Hydrogen Technology Testing, Inspection, and Certification Market
Asia Pacific region is expected to emerge as the fastest growing regional market over the coming years. Nations like China, Japan and South Korea are aggressively focusing on hydrogen as a strategic industry. Major initiatives are targeting commercialization of fuel-cell vehicles and building hydrogen value chains. Considering the pace of investments and projects coming up, the demand for testing, inspection and certification is set to surge exponentially from the region. This comes as a major opportunity for certification firms to tap into Asia Pacific's growing requirements.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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