Final

Prepared By
Hanu Tiwari
21IIMPMBA84
MBA BATCH 2021-23
Under Guidance of
Dr Dipanjay Bhalerao
ACADEMIC
YEAR 2021-22
Submitted To
Shree Chanakya Education

Society’s Indira Institute of
Management, Pune
Affiliated To
An Autonomous Institute affiliated to SPPU
1
“A Study on Hydrogen Generation Market “
Prepared by
Hanu Tiwari
21IIMPMBA84
MBA BATCH 2021-23
Under the guidance of
Dr Dipanjay Bhalerao
ACADEMIC YEAR
2021-23
Submitted To
Shree Chanakya Education Society’s

Indira Institute of Management, Pune
Affiliated To
An Autonomous Institute affiliated to SPPU
2
Certificate of completion (by College)
3
Certificate of completion (by Company)
4
Student’s Declaration
I undersigned Hanu Tiwari a student of Indira Institute of Management, Pune MBA 3rd
semester, declare that summer internship project titled “A Study on Hydrogen Generation
Market” is a result of my/our own work and my/our indebtedness to other work publications,
references, if any, have been duly acknowledged. If I/we are found guilty of copying any
other report or published information and showing as my/our original work, I understand that
I/we shall be liable and punishable by Institute or University, which may include ‘Fail’ in
examination, ‘Repeat study & re- submission of the report’ or any other punis hment that
Institute or University may decide.
Name of Student: Hanu Tiwari

Enrollment Number: 21IIMPMBA84
Signature:
5
ACKNOWLEDGEMENT
I take this opportunity to express my gratitude to all the concerned who have directly or
indirectly contributed towards the completion of this project. I extend my gratitude towards
Triangle Technologies Pvt. Ltd. for providing the opportunity and resources to work on this
project. I am extremely grateful to Dr. Dhipanjay Bhalerao, HOD of Indira Institute of
Management, MBA Pune whose insight encouraged me to go beyond the scope of the project
and this broadened my learning on this project. No work would have been practically
possible without the motivation of Mr. Sanket Ingale, of Grand View Research, Inc. for
always showing confidence in me and rest of the staff for their involvement, guidance,
suggestions, motivation, and inspiration given to me throughout the project. Finally, I thank
all my friends for their co-operation and being a constant source of motivation in the
completion of the project.
Hanu Tiwari
Enrolment Number: 21IIMPMBA84
6
Table of Contents
Certificate of completion (by College)...........................................................................................3

Certificate of completion (by Company)........................................................................................4
Student’s Declaration.....................................................................................................................5
ACKNOWLEDGEMENT..............................................................................................................6
Table of Contents............................................................................................................................7
List of Charts..................................................................................................................................8
CHAPTER I: INTRODUCTION AND RATIONALE OF THE STUDY..................................12
CHAPTER II: INDUSTRY/ SECTOR PROFILE.......................................................................14
CHAPTER III: COMPANY OVERVIEW...................................................................................23
CHAPTER IV: REVIEW OF LITERATURE.............................................................................31
CHAPTER V: APPLICATION OF MANAGEMENT FRAMEWORK.....................................35
CHAPTER VI: OBJECTIVES AND SCOPE OF PROJECT......................................................43
CHAPTER VII: METHODOLOGY FOLLOWED FOR THE PROJECT..................................44
CHAPTER VIII: DATA ANALYSIS..........................................................................................52
CHAPTER IX: FINDINGS..........................................................................................................59
CHAPTER X: CONCLUSIONS & SUGGESTIONS.................................................................67
CHAPTER XII: BIBLIOGRAPHY..............................................................................................71
7
List of Charts
Figure 1: Today’s Hydrogen Value Chain...........................................................................................52

Figure 2: Full Cost of hydrogen delivery to the industrial sector by pipeline or by ship in 2030 for
different transmision distances.............................................................................................................55
Figure 3: Hydroegn production methods and colors............................................................................61
Figure 4: Green hydrogen supply chain...............................................................................................63
Figure 5 : Color scheme, classification, and production capacities of hydrogen, based on production
processes, feedstock and/ or energy source..........................................................................................63
8
EXECUTIVE SUMMARY
This is an attempt to know how the theories can be applied to practical situations. As a
student of MBA, it is a part of the study for everyone to undergo a summer internship project
at some good institute or organization. So, for this purpose, I got the opportunity of summer
training at “Grand View Research.Inc.”
Title of the project:
“To Study the Hydrogen Generation Market”
Name of the company: Grand View Research Inc.
Place of the company: Pune, India
Time frame: The duration of SIP was from 04/04/2022 to 19/07/2022
Objectives of the project:
 To assess the current global hydrogen generation market size and its compounded
annual growth rate by year compounded annual growth rate by year 2030
 To assess the Market share of different key players in hydrogen generation
 To understand the latest trends and market dynamics that affect the hydrogen market
 To assess the region wise consumption of hydrogen
 To understand different techniques that are used for hydrogen production and their
respective production capacities
Introduction:
The global hydrogen generation market size was valued at USD 129.85 billion in 2021 and is
expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030.
The global hydrogen generation market is likely to be driven by the demand for cleaner fuel,
coupled with increasing governmental regulations for the desulphurization of petroleum
products. Hydrogen is an effective energy carrier, and this quality is expected to contribute
significantly to its further penetration into newer markets. The global electricity demand is
expected to witness an increase of nearly two-thirds of the current demand during the forecast
period.
Achievements:
 I made 15 sample reports of consumer goods domains for different clients.

 I made 80 report descriptions and 50 press releases for the company’s website of the
consumer goods domain.
 All the report description and press releases were published on the company’s
website.
Learning’s:
 I have improved my presentation skills.

 I got to learn about the different trends in the hydrogen market
Action plan:
Hydrogen
and
generation
.
market size
Market by
different
segments
Drivers,
Restraints,And
Opportunities of
the market
Market forecast
up to 2030
Importance of project:
 This project will help clients that weather they should invest in the hydrogen industry
or not.
 This project will help governments whether they should invest into hydrogen or not.
Conclusion:
Concerning this project, it is being concluded that hydrogen market will grow in the forecast
period with the help of drivers and opportunities. The pressure to achieve climate targets has
risen in the last two years. In regards to toughening climate targets and calling for net-zero
achievement by 2045, there have been discussions about how to put these goals into action
and make them a reality. Hydrogen has emerged as a promising climate-neutral energy
carrier. As a result, in the last 1.5 years, more than 25 countries have released hydrogen
roadmaps. It also discusses the major issues and opportunities affiliated with hydrogen
production, storage, transportation, and distribution, as well as commercial-scale deployment.
CHAPTER I: INTRODUCTION AND RATIONALE OF THE
STUDY
1.1 INTRODUCTION TO THE TITLE
The project research on “A market research project on the Hydrogen Generation Market”.
Hydrogen can be extracted from fossil fuels and biomass, from water, or from a mix of both.
Natural gas is currently the primary source of hydrogen production, accounting for around
three quarters of the annual global dedicated hydrogen production of around 70 million
tonnes. This accounts for about 6% of global natural gas use. Gas is followed by coal, due to
its dominant role in China, and a small fraction is produced from the use of oil and electricity.
The production cost of hydrogen from natural gas is influenced by a range of technical and
economic factors, with gas prices and capital expenditures being the two most important.
Fuel costs are the largest cost component, accounting for between 45% and 75% of
production costs. Low gas prices in the Middle East, Russia and North America give rise to
some of the lowest hydrogen production costs. Gas importers like Japan, Korea, China and
India have to contend with higher gas import prices, and that makes for higher hydrogen
production costs.
1.2 SIGNIFICANCE OF THE STUDY
The hydrogen market is currently being driven by several factors. Hydrogen is an efficient
energy carrier, which is expected to contribute significantly to its expansion into newer
markets. The global hydrogen generation market will most likely be driven by the demand for
cleaner fuel, as well as increasing government regulations requiring the desulphurization of
petroleum products. Hydrogen is an efficient energy carrier, which is expected to contribute
significantly to its expansion into newer markets. The growing demand of hydrogen for fuel
cell electric vehicles (FECV) vehicles and rockets in the aerospace industry are driving
market growth. Utilization of hydrogen fuel cells in lightweight vehicles such as bicycles,
cars, buses, trains, material handling equipment, boats, ships, commercial aircraft, auxiliary
power units (APUs) of aircraft, marine vessels, and specialty vehicles such as forklifts are
fostering the market growth in the transportation sector. This research will provide new
insights into the Hydrogen generation market, Hydrogen Generation Market Size, Share &
Trends Analysis Report By Systems (Merchant, Captive), by Technology (Steam Methane
Reforming, Coal Gasification), by application, by source, by region, and segment forecasts,
2022 – 2030 and more specifically on hydrogen generation. This report, will further help
companies and governments involved in the energy generation and distribution to provide
with in-depth insights about hydrogen industry, market dynamics, major players and forecasts
in the period between 2022- 2030.
Moreover, the analysis that is presented in this study will convey valuable information for
companies in the energy market and governments that will explore the various types of
information pertaining to the field of hydrogen generation, forecasts and its application in
different regions and industries.
2. CHAPTER II: INDUSTRY/ SECTOR PROFILE
2.1 OVERVIEW OF THE INDUSTRY/ SECTOR
Companies that sell products and services learn more about their current customers and target
audiences through market research. They also use market research to learn more about their
business reputation, brands, and other aspects of their organization. The definition of market
research, according to Entrepreneur.com is: “The process of gathering, analyzing, and
interpreting information about a market, about a product or service to be offered for sale in
that market, and about the past, present, and potential customers for the product or service;
research into the characteristics, spending habits, location, and needs of your business’s target
market, the industry as a whole, and the particular competitors you face.”
Among the first steps in the business planning process is market research. Companies use it
to help tackle such challenges as market segmentation, which is the identification of specific
groups within a market, or product differentiation, the creation of an identity for a service or
product to distinguish it from that of competitors. Market research companies gather, record,
tabulate, and present data on marketing and public opinions. The services that market
research companies offer include sampling and statistical services, broadcast media rating
services, market analysis services, and political polling. Market research is conducted by
telephone, e-mail, social media, snail-mail, and face-to-face research (such as focus groups).
Jobs in the market research industry are found in market research agencies and at advertising
agencies with market research capabilities. Many organizations also have their own
marketing departments. The types of jobs in the field include research director or manager,
research analyst, operations director, fieldwork manager, and statistician/data processing
workers. The Bureau of Labor Statistics reports that 681,900 market research analysts were
employed in the United States in 2018. They worked for management, scientific, and
technical consulting services; wholesale trade companies; finance and insurance companies,
among others. Most people who work in market research work in a team and collaborate on
projects for clients.
According to the research group IBISWorld, the U.S. market research industry generates $23
billion in revenue annually. There was more than 2 percent annual growth in the industry
between 2014 and 2019. The industry has experienced strong growth the past few years, and
growth is expected to continue in the coming years due to the increase in research and
development and Internet advertising spending. There are approximately 44,164 market
research businesses in the United States.
Companies that sell products and services learn more about their current customers and target
audiences through market research. They also use market research to learn more about their
business reputation, brands, and other aspects of their organization. The definition of market
research, according to Entrepreneur.com is: “The process of gathering, analyzing, and
interpreting information about a market, about a product or service to be offered for sale in
that market, and about the past, present, and potential customers for the product or service;
research into the characteristics, spending habits, location, and needs of your business’s target
market, the industry as a whole, and the particular competitors you face.”
Among the first steps in the business planning process is market research. Companies use it
to help tackle such challenges as market segmentation, which is the identification of specific
groups within a market, or product differentiation, the creation of an identity for a service or
product to distinguish it from that of competitors. Market research companies gather, record,
tabulate, and present data on marketing and public opinions. The services that market
research companies offer include sampling and statistical services, broadcast media rating
services, market analysis services, and political polling. Market research is conducted by
telephone, e-mail, social media, snail-mail, and face-to-face research (such as focus groups).
Jobs in the market research industry are found in market research agencies and at advertising
agencies with market research capabilities. Many organizations also have their own
marketing departments. The types of jobs in the field include research director or manager,
research analyst, operations director, fieldwork manager, and statistician/data processing
workers. The Bureau of Labor Statistics reports that 681,900 market research analysts were
employed in the United States in 2018. They worked for management, scientific, and
technical consulting services; wholesale trade companies; finance and insurance companies,
among others. Most people who work in market research work in a team and collaborate on
projects for clients.
According to the research group IBISWorld, the U.S. market research industry generates $23
billion in revenue annually. There was more than 2 percent annual growth in the industry
between 2014 and 2019. The industry has experienced strong growth the past few years, and
growth is expected to continue in the coming years due to the increase in research and
development and Internet advertising spending. There are approximately 44,164 market
research businesses in the United States.
2.2 CONTRIBUTION OF THE SECTOR TOWARDS GDP
The market research industry is on course to grow 12-14% annually till FY26 to cross the $4-
billion mark, according to a report. As per the report by the Market Research Society of India
the industry was $2.1 billion in FY21 and is on course to double to $4.2 billion by FY26,
driven by the fact that the country is the global analytics hub.
https://economictimes.indiatimes.com/news/company/corporate-trends/fmcg/articleshow/
88321591.cms
In FY21, marketing analytics services accounted for 52 percent of the total industry revenue,
while traditional market research and syndicated/publishing services brought 32 percent and
16 percent, respectively. The report expects by FY26, analytics services to account for 59
percent, while market research and syndicated/ publishing services will account for 27
percent and 14 percent, respectively.
https://economictimes.indiatimes.com/news/company/corporate-trends/fmcg/articleshow/
88321591.cms
The FMCG and retail sectors are the largest consumers for market research and insights with
a share of 27 percent, followed by information, communications, and telecom (16 percent),
and banking, financial services, and insurance (15 percent). According to the report, the
availability of talent, coupled with proven expertise in data handling, technology,
infrastructure, and cost competitiveness will lead to an orbital shift in the industry by 2030,
when it is expected to scale past the $10-billion mark. The report is based on inputs from over
198 companies.
Source:https://economictimes.indiatimes.com/news/company/corporate-trends/fmcg/
articleshow/88321591.cms\
2.3. MAJOR PLAYERS
 NielsenIQ
Nielsen, an S&P 500 company, offers measurement and data analytics services on a
global scale. It claims to cover more than 90 percent of the world’s GDP and
population through its services.
The services delivered include marketing and media information, analytics, and
retailer and manufacturer expertise related to what and where consumers buy and
what consumers read, watch, and listen to. The Company caters to clients primarily
from the CPG, media, and advertising industries.
 IQVIA
IQVIA, formed through the merger of IMS Health and Quintiles, is a Human Data
Science Company serving the life sciences industry. The company has been able to
integrate information, analytics, domain expertise, and technology through its IQVIA
CORE solution, thereby enabling its clients to tap into a deeper understanding of
human behaviors, diseases, and scientific advances.
 Kantar
Kantar, a part of WPP, is a data, insights, and consulting company. The company
offers its services across the entire lifecycle of sales and marketing with research
solutions ranging from in-depth qualitative research expertise to the latest AI-based
technology.
In April 2019, Kantar unified all its legacy brands, including Kantar Consulting,
Kantar IMRB, Kantar Health, Kantar Media, Kantar Public, Kantar Millward Brown,
Kantar Worldpanel, Kantar TNS, Lightspeed, all country-specific brands into Kantar.
Further, WPP sold Kantar’s 60% stake to Bain Capital in Dec 2019 and hence shown
as discontinued operations by the WPP group as of Dec 31, 2019.
 Gartner
As a member of the S&P 500, the company is engaged in providing research and
analysis solutions to the computer software, hardware, communications, and related
information technology industries.
The company research services are offered through a subscription-based model that
includes on-demand access to published research content, direct access to a network
of approximately 2,300 research experts located globally, and data and benchmarks.
2.4. REGULATORY FRAMEWORK
Regulation is the control and restriction of business, corporate and industry and its
operations, investment, other expenditures, and market activities. Regulation is commonly
exercised by legal authorities such as governmental (executive) agencies, although self-
regulation is also present in many companies and industries and is guided by trade and
industry association policies, guidelines, and individual business conduct policies. Regulation
is drafted and enforced to prevent business and market failures, realize societal desires,
uphold and protect the common good and welfare by mitigating or preventing economic
disruptions or environmental damage.
Regulatory compliance is a pertinent issue to business development, legal compliance,

investment strategies, mergers and acquisitions (M&A), profit, and income for numerous
companies in heavy industry, manufacturing, construction, utilities and the energy sector.
ENTRY OPTIONS
An appropriate entry strategy is a must for every foreign investor seeking to do business in
India or with counterparties based in India. Entry strategy would usually vary depending
upon the nature of business, the concerned sector, scale of operations and costs and other
commercial objectives. Broadly, foreign investors can set up either a company, branch/liaison
office or a limited liability partnership (LLP) in India. Indian companies are governed by the
new company law, the Companies Act, 2013. LLPs are governed by a separate legislation,
the Limited Liability Partnership Act, 2008. It may be pointed out that the Indian government
has launched a series of initiatives aimed at enhancing the ease of doing business in India.
FOREIGN INVESTMENT POLICY
Foreign investments into India are governed by a comprehensive foreign direct investment
(FDI) policy issued annually by the Department of Industrial Policy and Promotion, which
works under the aegis of the Ministry of Commerce and Industry, Government of India. The
FDI policy is supplemented by various press notes that are issued throughout the year as and
when a policy change is announced. This policy framework is operationalised by rules,
regulations and circulars issued by India’s Central Bank, the Reserve Bank of India.
Most investment sectors are under the automatic route (i.e. no prior approval is required for
investment); only a few sectors such as insurance, real estate, non-banking financial
corporations are regulated. FDI into LLPs is also permitted, subject to certain conditions. The
new Indian Government has announced its commitment to further liberalise India’s FDI
policy, with a view to attracting greater foreign capital.
TAXATION
Income tax in India is governed by a Central legislation, the (Indian) Income tax Act, 1961,
while indirect taxes such as value added tax, customs and excise duty are subject to both
Central and State laws. Currently the corporate tax rate stands at 30% (excluding surcharge
and cess), however, the Government has announced that this would be progressively reduced
to 25% over the next 4 years. India also has transfer pricing rules that apply to related party
transactions. On the indirect taxes front, a comprehensive Goods and Services Tax (GST) is
likely to be introduced in India in 2016. This will go a long way in reducing complexity and
eliminating multiple taxation.
EXIT STRATEGY AND DISPUTE SETTLEMENT IN INDIA
Since entering a new market is a major commitment for every investor, the exit strategy
should also be planned in advance as the cost and barriers to exit can often determine the
entry strategy. Maintaining a comprehensive exit strategy is important for the following
reasons:
 Changes in business conditions or regulatory environment

 Cashing out on a venture that is successful
 If the goals and objectives of the company/partners involved change with time
 If one of the partners involved in an agreement is acquired or gets into financial trouble
 For settlement of disputes when a partnership isn’t working out
SETTLEMENT OF DISPUTES IN INDIA
India follows the common law and has a single court system to administer both Central and
State laws. The court system is broadly three tiered, comprising the lower District courts, the
High Courts and the apex court – the Supreme Court of India. Court litigation in India is
generally subject to delays, and owing to a backlog of cases before Indian courts, commercial
disputes are being subject to alternative modes of dispute resolution, such as arbitration.
The choice of dispute resolution mechanism can have significant commercial, financial and
legal consequences and investors should consider the advantages and disadvantages of each
mode of dispute resolution, be it litigation before Indian courts or arbitration.
EMPLOYMENT LAWS
An investor should familiarise themself with Indian labour laws at the time of commencing
operations in India. Though several labour laws are formulated by the Centre, there are State
specific rules that the investor should take note of, and these would vary depending on the
State where the investor commences operations. The investor should ensure that appropriate
registrations are obtained and all HR records, files, documents and correspondences are
maintained according to the requirements under Indian labour laws.
It is advisable to seek professional advice in areas such as drafting compliant policies and
practice manuals, handling potential labour law issues, structuring of employment contracts
and reducing risks of co-employment issues. Half-yearly or yearly audits of internal HR
compliance policies may also be conducted to ensure compliance with all necessary statutory
requirements. It may be pointed out that the Government plans to introduce several reforms
with respect to labour and employment laws in order to make these laws industry friendly and
reduce the burden of compliance for the private sector.
ANTI-TRUST REGULATION IN INDIA
India’s Competition Act, 2002 (the Act) is the principal legislation dealing with anti-trust
issues. The Act prohibits or regulates (a) anti-competitive agreements (b) abuse of a dominant
position and (c) combinations.
Anti-competitive agreements are broadly defined as any agreement in respect of ‘production,
supply, distribution, storage, acquisition or control of goods or provision of services, which
causes or is likely to cause an appreciable adverse effect on competition within India’.
Certain agreements such as tie-in arrangements or bid-rigging are presumed to cause an
appreciable adverse effect on competition.
Further, the Act prohibits any enterprise or group from abusing its ‘dominant position’; an
enterprise will be considered ‘dominant’ in a relevant market, in India, where it is able to
operate independently of competitive forces prevailing in the relevant market or can affect
competitors, consumers or the relevant market in its favour. Also, in terms of the Act,
combinations (mergers, acquisitions, de-mergers) exceeding certain specified asset/turnover
thresholds would require approval of the Competition Commission of India to ensure that
they do not cause an appreciable adverse effect on competition within the relevant markets in
India.
3. CHAPTER III: COMPANY OVERVIEW
3.1. HISTORY
Grand View Research is an India & U.S. based market research and consulting company, registered in
the State of California and headquartered in San Francisco. The Company was founded in 2014. The
company provides syndicated research reports, customized research reports, and consulting services.
Grand View Research database is used by the world's renowned academic institutions and Fortune
500 companies to understand the global and regional business environment. Our database features
thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
Grand View Research helps clients make informed business decisions. It offers market intelligence
studies ensuring relevant and fact-based research across a range of industries including chemicals,
materials, energy, healthcare, and technology. With a deep-seated understanding of many business
environments, Grand View Research provides strategic objective insights. Each year, Grand View
Research completes more than 300 multi-country market studies aimed at rendering the following
solutions:
Grand View Research is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services.
3.2. MISSION, VISIONS ETC.
Mission: To help companies with well-researched, reliable & actionable market intelligence.
Vision: To be the worldwide leader in market intelligence with customer service at the heart of
everything we do.
3.3. MANAGEMENT
Name Designation
SHASHI KUMAR CEO
SAWAYAM DASH Managing director
NILESH PATANKAR Director
3.4. REGISTERED ADDRESS/ NUMBER OF BRANCHES
 Registered address:
Grand View Research
Office No. 705, A Wing, 7th Floor, Amar Business Zone, Veerbhadra Nagar, Baner,
Pune, MH, 411045 India
Phone: +91-895-638-0888
Email: info-apac@grandviewresearch.com
 Number of branches:
There are four branches of grand view research. Which are in San Francisco, Pune, Bangalore, and
Jaipur.
3.5. COMPOSITION OF BOARD
 Shashi Kumar, CEO and Co-Founder

 Brain Haven, President and Co-Founder
 Nilesh Patankar, Director Research and Consulting
 Saurav Chakravorty, Director Web Marketing
 Swayam Dash,Managing Director
 Anshuman Bahuguna, Director Research & Consulting
 Bhabesh Panigrahi, Director of Strategy & Research
3.6. MAJOR CUSTOMERS
1.
2.
3.
4.
5.
6.
7.
8.
9.
11.
10.
3.8. ORGAN GRAM
Shashi Kumar (CEO

& Co- Founder)
Brain Haven
(President and Co-
Founder)
Anshuman
Bhabesh Panigrahi Michelle Thoras Nilesh Patankar Saurav Chakravorty
Bahuguna Swayam Dash
(Director of Strategy (Director - Business (Director - Research (Director Web
(Director - Research (Managing Director)
& Research) Development) and Consulting) Marketing)
& Consulting)
3.11. PRODUCTS
 Market Research Reports

 Market Monitoring Services
 Research Partnership Services
 Competitive Intelligence
 Management Consulting
 Due Diligence
 ESG
 Procurement Consulting
3.12. OVERVIEW OF DIFFERENT DEPARTMENTS
 Bulk Chemicals - Grand View Research provides analysis of the bulk, specialty, and
fine chemicals industries, covering a wide range of products, technologies, application
markets, R&D efforts, suppliers, and regions.
 Energy and Power - Grand View Research provides analysis of conventional energy,
renewable energy, drilling and extraction, generation and storage, power distribution,
sustainable, and backup solutions.
 Advanced Materials - Grand View Research monitors the material technology sector,
focusing on advanced materials and cutting-edge technologies.
 Healthcare - Grand View Research provides analysis of the healthcare and medical
devices industry. Our research reports identify growth opportunities and Critical
Success Factors (CSFs) for the market.
 Speciality and fine Chemicals - Grand View Research conducts extensive research
studies in the global Specialty & Fine Chemicals industry and publishes in-depth
market reports for its clients, enabling them to make informed business decisions
 Food and Beverage - Grand View Research conducts extensive research studies in the
global Food and Beverages industry and publishes in-depth market reports for its
clients, enabling them to make informed business decisions.
 Technology - Grand View Research publishes technology reports, covering key
aspects of the hardware as well as software industry.
 Semiconductors and Electronics - Grand View Research conducts extensive research
studies in the global Semiconductor and Electronics industry and publishes in-depth
market reports for its clients, enabling them to make informed business decisions.
 Compass -
A cost-effective business intelligence portal that gives clients complete authority and
flexibility to personalize features to suit their research needs. This customizable
platform is presented by Grand View Research.
CHAPTER IV: REVIEW OF LITERATURE
1. The pressure to achieve climate targets has risen in the last two years. In regards to
toughening climate targets and calling for net-zero achievement by 2045, there have
been discussions about how to put these goals into action and make them a reality.
Hydrogen has emerged as a promising climate-neutral energy carrier. As a result, in
the last 1.5 years, more than 25 countries have released hydrogen roadmaps.
Moreover, a number of studies have been published by various authorities to aid in
the development of a hydrogen economy this paper covers all the aspects related to it.
https://reader.elsevier.com/reader/sd/pii/S0360319922033900?
token=E776D1A1EB6C0710F72326488A2E97C5FA219ADFB3C3C1D5737FB90615A493
7D438C4F44079C28FD14F1487D804A9FE6&originRegion=eu-west-
1&originCreation=20221215145126
2. Using hydrogen to store energy is a promising green alternative. As a result, there is a

strong desire to examine the current state of the various storage options. This paper
focuses on three types of large-scale compressed hydrogen storage options: storage
vessels, geological storage, and other underground storage alternatives. We
investigated a wide range of compressed hydrogen storage technologies in this study,
discussing their theory of operation, potential, and challenges in great detail. The
analysis confirms the need for a techno-economic chain analysis to assess the viability
of one storage option over another on a case-by-case basis. Some of the discussed
technologies are in their infancy; however, this does not rule them out; rather, it
depicts the research opportunities in the field.
https://www.sciencedirect.com/science/article/pii/S0360319921005838
3. This paper examines hydrogen production processes and associated technologies for
their interconnection and reliance on the other corners of the hydrogen square.
Despite the fact that hydrogen is a zero-carbon-emission energy at the point of use, it
is dependent on the cleanness of the production pathway and the energy used to
produce it. As a result, ensuring hydrogen origin is critical if hydrogen is to be
considered clean energy. For further investigation and development, an innovative
model is presented as a hydrogen cleanness index coding.
https://www.sciencedirect.com/science/article/abs/pii/S0360319919345926
4. This paper compares various non-renewable and renewable hydrogen production

systems in terms of system design, cost, global warming potential (GWP),
infrastructure, and efficiency. It also discusses the major issues and opportunities
affiliated with hydrogen production, storage, transportation, and distribution, as well
as commercial-scale deployment.
https://www.sciencedirect.com/science/article/abs/pii/S0360319921045377
5. Green hydrogen (H2) is being touted as a possible clean energy carrier of the future.
While significant research has been conducted on global renewable (and non-
renewable) hydrogen generation costs, research on its transportation costs, regardless
of production method, remains limited. The various forms in which hydrogen can be
transported, the limited experience to date in shipping some of these carrier forms, the
potential trade routes involved, and the use of different shipping fuels are all
complications. T his paper presents an open-source model that was created to help
stakeholders assess the costs of shipping various forms of hydrogen over various
routes. It includes liquid hydrogen (LH2), ammonia, liquefied natural gas (LNG),
methanol, and liquid organic hydrogen carriers for hydrogen transport (LOHCs).
6. Green hydrogen (H2)-powered aircraft are a climate-reduction tool for the aviation
industry. As a result, the purpose of this paper is to provide a comprehensive
overview of previous efforts and to introduce a method for assessing the importance
of an H2 infrastructure for aviation. A short- and medium-range aircraft have been
modeled and modified for H2 propulsion.
7. In the transportation industry, fuel cell devices are gradually replacing internal
combustion engines. This paper discusses some notable PEMFC technology
challenges. High costs, low durability, and hydrogen storage issues are among the
major challenges being investigated in this study. The article investigates the recent
advancements in electric cars technology and their technical specification. The study
also examines the characteristics and innovations of the three types of electric
vehicles currently on the market.
https://www.sciencedirect.com/science/article/abs/pii/S036031991732791X
8. To achieve gradual but timely decarbonization of the transportation sector, it is

critical to assess which vehicle types provide adequate environmental performance
while allowing the use of hydrogen as a fuel. This study compares the environmental
life-cycle performance of three types of hydrogen-powered passenger cars: a fuel cell
electric vehicle, an internal combustion engine vehicle, and a hybrid electric vehicle.
In addition, two vehicles that run on hydrogen mixed with natural gas or gasoline
were considered. Hydrogen produced by wind power electrolysis was assumed in all
cases. The resulting life-cycle profiles were compared to those of a compressed
natural gas vehicle and a hybrid electric vehicle powered by natural gas.
9. This paper provides a comprehensive review of various processes and potential

sources of hydrogen production. The various hydrogen production processes reviewed
include industrial processes such as steam reforming, thermal cracking, partial
oxidation of fossil fuels, coal gasification, electrolysis, thermochemical, and so on, as
well as new emerging processes such as photolysis, photovoltaic electrolysis,
photochemical, photobiological, and pyrolysis, among others.
https://www.researchgate.net/publication/
5107283_Sources_and_technology_for_hydrogen_production_A_review
10. This paper examines current hydrogen (H2) production technologies from both fossil
and renewable biomass resources, including reforming (steam, partial oxidation,
autothermal, plasma, and aqueous phase) and pyrolysis. Other methods for producing
hydrogen (for example, electrolysis of water) and purification methods, such as
desulfurization and water-gas shift reactions, are also discussed.
https://www.hindawi.com/journals/cpis/2013/690627/
11. Hydrogen is a proven efficient energy carrier that can be obtained from both
renewable and nonrenewable resources. This study provides an overview of
renewable hydrogen production sources that focuses on water splitting (electrolysis,
thermolysis, and photolysis) and biomass (biological and thermochemical)
mechanisms. The limitations associated with these mechanisms are discussed. The
study also looks at some critical factors that are impeding the global expansion of the
hydrogen economy.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8880752/
12. This study examines various technologies for producing hydrogen from renewable
and nonrenewable resources. Furthermore, a comparative analysis of renewable-based
technologies is performed to determine which technologies are more economically
and energetically promising. The findings show that biomass-based technologies
produce comparable hydrogen yields to water-based technologies, but with higher
energy efficiencies and lower operational costs. More specifically, biomass
gasification and steam reforming achieved a proper balance of the studied parameters,
with gasification allowing for higher hydrogen yields and steam reforming being
more energy-efficient. Nonetheless, the use of hydrogen as the future energy vector
necessitates the use of both renewable feedstocks and a sustainable energy source.
This combination has the potential to generate green hydrogen while lowering carbon
dioxide emissions, limiting global climate change, and achieving the so-called
hydrogen economy.
https://pubs.acs.org/doi/10.1021/acs.energyfuels.1c02501#
13. This study provides an overview of the current state of hydrogen production in
relation to global energy and resource requirements. Following that, it symmetrically
outlines the benefits and drawbacks of various production routes, such as fossil
fuel/biomass conversion, water electrolysis, microbial fermentation, and
photocatalysis (PC), in terms of technology, economy, energy consumption, and
costs. Given the characteristics of hydrogen energy and current infrastructure issues,
onsite production is essential and convenient for some special occasions.
https://www.sciencedirect.com/science/article/pii/S1674862X2100001X
CHAPTER V: APPLICATION OF MANAGEMENT

FRAMEWORK
5.1 SWOT ANALYSIS
SWOT analysis of Grand view research analyses the brand by its strengths, weaknesses,
opportunities & threats. In Grand view research SWOT Analysis, the strengths and
weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Grand view
research to benchmark its business & performance as compared to the competitors. Grand
view research is one of the leading brands in the market research.
 Strengths:
1. Constant market monitoring
2. Continuous product monitoring
3. Continuous Kol Interviewing
4. Product positioning analysis
5. Partner prospecting
6. Data mining & analytics
7. Opportunity identification
8. Variable mapping
 Weakness:
1. Time Gap Makes Research Irrelevant

2. Cost Consideration
3. Problem of Rapid Change
4. Problem of Trust and Accuracy
5. It is not Problem Solving Technique but an Aid to Solve the Problem
6. Subjective or Biased Result
 Opportunities:
1. Wide/open market
2. Can give solution to other verticals other than it is offering now
 Threats:
1. Economic Change
2. Competitive Innovation
3. Regulation
4. Consumer Perception
5. Addressing Threats
5.2. STP ANALYSIS
 Segment: Enterprise seeking research data.
Need based: GVR segments its market depending on the need of the customers i.e. the level
of Complexity- How complex research the customer requires. GVR has expert analysts in
every field who can understand the requirements of customers for customization. GVR is
capable of delivering the best solution to the customers which involves lots of research and
expert knowledge.
Type of industry:
 Consumer goods
 Advanced materials
 Semiconductors and electronics
 Healthcare
 Technology
 Specialty and fine chemicals
 Food and beverages
 Bulk chemicals
 Targeting:
Target groups are mostly overseas large and small scale enterprises.
 Positioning:
Grand view research believes in quality and delivers accurate , clear, and informational
content required by the customers on time.
5.3 MARKETING MIX
1. Product:

 Due Diligence
 ESG
2. Price: The price varies on the license type. But in general, the prices are moderate and
high according to the quality which is delivered to the customer.
3. Place: Grand View Research majorly serves the U.S. and Europe.
4. Promotion: Online promotion, and social media advertising.
Three extended Ps of marketing

5. People: Grand view research has a talented analyst team to create models exactly
according to the customer’s requirements.
6. Process: There is the unique process followed by grand view research for each project
which starts with requirements-gathering followed by assistance by the business
development team for the sale of the report as well as after-sales services.
7. Physical evidence: Website, RDs, Sample reports.
5.4 PORTER’S FIVE FORCES MODEL RELATED TO THE INDUSTRY
 Threat of New Entrants:
 The Market Research industry does not have any measures which can control the
entry of new firms.
 The resistance is very low and the structure of the industry is so complex that new
firms can easily enter and also offer tough competition due to cost effectiveness.
Hence potential entry of new firms is highly viable.
 Bargaining Power of Suppliers:

 The bargaining power of the suppliers of raw materials and intermediate goods is not
very high.
 There are ample substitute suppliers available and the raw materials are also readily
available and most of the raw materials are homogeneous.
 There is no monopoly situation on the suppliers’ side because the suppliers are also
competing among themselves.
 Bargaining Power of Buyers:
 The bargaining power of the consumers is very high. This is because in the Market
Research industry the switching costs of most of the services are very low and there is
no threat of buying one over the other.
 Customers are never reluctant to buy and try new things off the shelves.
 Threat of Substitutes:
 There are complex and never-ending consumer needs and no firm can satisfy all sorts
of needs alone. There are plenty of substitute goods available in the market that can be
replaced if consumers are not satisfied with one.
 The wide range of choices and needs give sufficient room for new product
development that can replace existing goods. This leads to higher consumer
expectations
 Rivalry Among Existing Competitors:
 Market research industry does not have any measures which can control the entry of
new firms.
 There are scarce customers because the industry is highly saturated, and the
competitors try to snatch their share of the market.
 Market players use all sorts of tactics and activities from intensive advertisement
campaigns to promote stuff and price wars etc. hence the industry of rivalry is very
high.
5.5 ANSOFF MATRIX
Ansoff Matrix can be used to identify alternative marketing opportunities of the company or
product, allowing you to expand into new markets.
It can also be used to analyze your competitive position, facilitating the identification of new
product/market opportunities for increasing its market share. Furthermore, it can be used to
assess the degree of diversification within existing markets and which products should be
eliminated.
The Ansoff Matrix is made up of four main categories. They are as follows:
 Product Development
 Market Penetration
 Market Development
 Diversification
Product Development
The product development strategy is designed to improve the sales of existing products by
making them more useful, affordable, or attractive. This strategy involves the development of
new features on a product, improving its quality, or creating brand extensions related to the
original product.
The essence of this strategy is to increase overall sales from existing products. The company
has different range of products that cater to different industries and different aspects of the
business. The range of products such as

 Due Diligence
 ESG
All the reports that are prepared and sold by GVR can be customized according to the
requirements of the client and this gives clients with the needed flexibility for the purpose of
decision making related to their business.
Market Penetration
The market penetration strategy is designed to increase sales volume by making more
potential buyers aware of your products. This strategy involves aggressive marketing and
promotion activities such as advertising, public relations, and e-commerce marketing services
such as PPC and SEO.
The idea behind this approach is that your current customers are valuable and that they will
recommend your products to their friends, families, or business partners. For example the
company uses digital marketing of its report on different websites to attract attention of
potential clients. The company has a unique way of displaying preliminary reports and
shorter version of its detailed reports for the purpose of attracting attention and it also helps in
giving the potential client a glimpse of what all topics that will be covered in the detailed
report. All this will help in increasing the sales from its original product line.
Market Development
The market development strategy is designed to enter new markets with the same product.
These new markets may be related, international, or based on different demographics.
This is done by identifying unmet needs in untapped markets where there is room for your
products or services. The company is trying to tap into new and developing markets such as
Middle East and Asia which have high expected growth rate.
Diversification
The diversification strategy is designed to enter new markets by offering completely different

products to existing customers. Successful diversification requires elements of innovation or
the creation of something new. You also have to clearly understand where your market is
headed and what your target demographic is. Create strategies based on this knowledge, and
you will see a successful increase in your market share.
Grand View Research has launched a new division named as Fin tech that covers all the
aspects related to the field of finance. The new division focuses on all aspects such as fin tech
technologies such Crypto Currencies, Fin tech Software and companies etc.
5.6 SOSTAC MODEL
 Situation –Grand View Research is still not considered among the top 10 research companies
in India. Rivals such as Kantar, Nileson, and Gartner etc have better reputation, products,
human resource and financials. Since its inception in 2014 the company has a huge road
ahead when it comes to improve reputation in market research industry both in India and
abroad.
 Objectives – The Company should have an objective of improving its reputation in terms of
its capabilities such as improving its standing when compared to companies such as Kantar,
Nielson IQ, Markets and Markets etc. It should develop better software for data analysis and
it should improve its online visibility when compared to its peers.
 Strategy – The Company needs to have a strategy to compete with reports that are produced
by Gartner or Nielson. For this purpose the company needs to do a GAP analysis of all the
current products being offered by it with products offered by Gartner or Nielson IQ.
 Tactics – Company needs to price its products at a lower price point in order to get initial
traction for its new line of products, once it gets the traction its can further increase its pricing
when it gets a large pool of clients or customers.
 Action – The Company needs to hire domain experts in fields such as data analytics and
digital marketing for the purpose of improving both its visibility and competitiveness in terms
of making and publishing market research reports.
 Control – The Company needs to do a regular bench marking of its products with its
competitors and need to improve on its gap analysis.
CHAPTER VI: OBJECTIVES AND SCOPE OF PROJECT
6.1 OBJECTIVES OF THE PROJECT
 To assess the current global hydrogen generation market size and its compounded
 To assess the Market share of different key players in hydrogen generation
 To understand the latest trends and market dynamics that affect the hydrogen market
 To assess the region wise consumption of hydrogen
 To understand different techniques that are used for hydrogen production and their
6.2 SCOPE OF THE PROJECT
With the increase in the fossil fuel consumption and its use at the individual and
organizational levels, there has been a corresponding increase in initiative by different
governments and companies in order to reduce their carbon footprint. In view of this
situation, the present study analyzes the role of hydrogen in the decarbonisation of our
energy consumption in order to tackle problems such as climate change. To this end, the
study will also cover the changes in the usage, generation and application of hydrogen in
different industries region wise over the time period ranging from 2022-2030. The scope
of the study is restricted to select regions, production methods or technologies,
applications etc. Further, the study also involves an analysis of compounded annual growth
rate of Hydrogen market over the forecast period of 2022 to 2023.
CHAPTER VII: METHODOLOGY FOLLOWED FOR THE
PROJECT
7.1 RATIONAL FOR THE STUDY –
There has been an increase in the pressure to meet climate targets. There have been
discussions about how to put these objectives into action and make them a reality in relation
to toughening climate targets and calling for net-zero achievement by 2045. Hydrogen has
emerged as an appealing non-carbon energy carrier. As a result, over 25 countries have
released hydrogen roadmaps in the last 1.5 years. To produce hydrogen, it must be separated
from the other elements in the molecules where it occurs. There are many different sources of
hydrogen and ways for producing it for use as a fuel. There are various types of uses of the
hydrogen fuel in many industries and its use also differs from region to region. The report
covers all the aspects of hydrogen production to its application in different regions. This
report will help identify and quantify the generation of hydrogen and its application for
different clients like governments, energy companies, research institutes, etc.
7.2 STATEMENT OF PROBLEM –
This report aims to better understand the generation and application of hydrogen gas as a fuel
in different regions. The report covers qualitative as well as quantitative data and can be used
to gain in-depth insight into the current and future projections regarding the generation of
hydrogen gas and its subsequent use in different industries and regions. The report can be
used by governments and companies to strategize their hydrogen production plans and
whether they should invest in the technology for the purpose of diversification and achieving
a net zero goals.
7.3 SIGNIFICANCE OF THE PROBLEM –

Energy demand is increasing, while natural resources for the fossil fuel economy are
depleting. Because oil, coal, and natural gas are not replenished as they are used, an
alternative must be found. Emissions from fossil fuel use significantly degrade global air
quality. The resulting carbon by-products are significantly altering the global climate. The
resulting health and climate impacts are unacceptable to many people and governments
around the world.
Third-world economies are particularly vulnerable when it comes to developing the energy
systems required to improve their economies. People and nations are subjected to undue
influence by energy suppliers in the fossil fuel economy. Many businesses and governments
find this lack of economic independence unacceptable. This is where hydrogen emerges as a
solution to every stated problem above.
The lightest chemical element and the most abundant chemical substance in the universe is
hydrogen. We can generate hydrogen gas using fossil fuels or clean electricity, which can
then be stored, transported, and burned to generate power. When burned, hydrogen, unlike
most fuels, produces water rather than the greenhouse gas carbon dioxide (CO2). This means
that using hydrogen fuel has no impact on climate change.
The versatility of hydrogen fuel opens up numerous opportunities to replace fossil fuels in
various sectors of our economy. It has the potential to provide long-term energy storage for
the electric power sector, fuel for heavy-duty transportation, and heat for industrial processes
that require high temperatures, such as steel or concrete production. Today, hydrogen is
primarily used in the petrochemical, food processing, and fertiliser industries, as well as in
automobiles equipped with hydrogen fuel cells. Countries such as Japan are investigating its
application in public transportation.
This report created by Grand View Research will give an insight about current production
techniques, production quantity worldwide, region wise use and application of hydrogen by
different industries and governments. This will help companies; start-ups etc that are
currently in energy industry or the companies which want to enter the energy industry for the
purpose of diversifying their portfolio. This document will be also helpful for governments
who want to formulate a future strategy for hydrogen economy.
7.4 RESEARCH OBJECTIVES –
1. To assess the current global hydrogen generation market size and its compounded
2. To assess the Market share of different key players in hydrogen generation
3. To understand the latest trends and market dynamics that affect the hydrogen market
4. To assess the region wise consumption of hydrogen
5. To understand different techniques that are used for hydrogen production and their
7.5 SCOPE OF THE STUDY –
With the increase in the fossil fuel consumption and its use at the individual and
organizational levels, there has been a corresponding increase in initiative by different
governments and companies in order to reduce their carbon footprint. In view of this
situation, the present study analyzes the role of hydrogen in the decarbonisation of our
energy consumption in order to tackle problems such as climate change. To this end, the
study will also cover the changes in the usage, generation and application of hydrogen in
different industries region wise over the time period ranging from 2022-2030. The scope
of the study is restricted to select regions, production methods or technologies,
applications etc. Further, the study also involves an analysis of compounded annual growth
rate of Hydrogen market over the forecast period of 2022 to 2023.
7.6 RESEARCH DESIGN (RESEARCH TYPE) –
A research design is the framework of research methods and techniques chosen by a

researcher to conduct a study. The design enables researchers to fine-tune research methods
appropriate for the subject matter and set up their studies for success.
There are three main types of designs for research:
 Data collection
 Measurement
 Analysis
7.7 Quantitative research
It is for cases where statistical conclusions to collect actionable insights are essential.
Numbers provide a better perspective for making critical business decisions. Quantitative
research methods are necessary for the growth of any organization. Insights drawn from
complex numerical data and analysis prove to be highly effective when making decisions
about the business’s future.
Descriptive: In a descriptive composition, a researcher is solely interested in describing the

situation or case under their research study. It is a theory-based design method created by
gathering, analyzing, and presenting collected data. This allows a researcher to provide
insights into the why and how of research. Descriptive design helps others better understand
the need for the research. If the problem statement is not clear, you can conduct exploratory
research.
Descriptive design furnishes the researcher with an opportunity to gain insight into the
problem itself. It also helps the research team to see the need for the research. If it is not as
clear or as necessary, exploratory research (which, according to Blaikie (2000), is considered
as the first phase of research) may be needed. Descriptive research attempts to build on the
groundwork made by exploration, such as providing additional information, filling in gaps in
knowledge, or expanding it. Unique to descriptive research is that it also aims to collect as
much data and information as possible.
An example of descriptive research is market research. An investor, for example, may need to
look at the market, such as its current state, its trends, and so on. Descriptive research can
answer all these questions for the investor, which is why market research is an investment in
itself, as evidenced by the following graphic.
7.8 DATA SOURCES (PRIMARY AND SECONDARY SOURCES) –
Secondary research or desk research is a research method that involves using already existing
data. Existing data is summarized and collated to increase the overall effectiveness of
research.
Secondary research includes research material published in research reports and similar
documents. These documents can be made available by public libraries, websites, data
obtained from already filled in surveys etc. Some government and non-government agencies
also store data, which can be used for research purposes and can be retrieved from them.
Secondary research is much more cost-effective than primary research, as it makes use of
already existing data, unlike primary research where data is collected first hand by
organizations or businesses or they can employ a third party to collect data on their behalf.
Sources for Secondary Research –
1. Data available on the internet

2. Government and nongovernment agencies
3. Public libraries
4. Educational Institutions
5. Commercial information sources: Local newspapers, journals, magazines,
radio and TV stations
7.9 Process Flow Chart –
Defining the Problem or Opportunity
Developing Marketing Research Plan
Collecting Relevant Data and Information
Analyzing Data and Report Findings
7.10 Limitations of the Project –
1. Effect of Extraneous Factors:

Extraneous means external and uncontrollable factors. In most of the cases, the extraneous
factors affect marketing research results adversely. Due to impact of such factors, the net
impact cannot be estimated.
2. Time Gap Makes Research Irrelevant:

Systematic marketing research project needs more time. It takes weeks, months, even years.
When marketing research is carried on to investigate or solve the problem, final outcomes are
available after considerable time. When outcomes are made available, situations might have
been changed thoroughly or problem for which research was made might have been solved
automatically. Decision-maker needs information in time. But, practically, it is not possible.
Sometimes, time, money, and efforts contribute nothing.
3. Cost Consideration:
To conduct marketing research systematically is a luxury. A firm needs money for research
design, data collection, data analysis, interpretation, and report preparation. Statisticians and
computer experts charge heavy fees. When research is conducted regularly, a company has to
maintain a separate well-equipped marketing research department. Marketing research has
become costlier. So, it is difficult for medium and small companies to afford.
4. Problem of Rapid Change:

Today’s market is characterized by tremendous changes. Whatever is applicable or relevant
today is out-dated tomorrow. Due to rapid changes, marketing research cannot serve the
purpose. Research results or outcomes available after the specific time period seem irrelevant
or meaningless.
5. Problem of Trust and Accuracy:

Marketing research is based on trust and accuracy. Right from the identification of problem
to the final outcomes, all depends on trust. Company has to trust on marketing research
officer; research officer has to trust on field officer; and field officer has to rely on response
of respondents. At any stage of marketing research, accuracy is vital issue. To the extent
inaccuracy prevails, marketing research results suffer.
6. It is not Problem Solving Technique but an Aid to Solve the Problem:

It is interesting and shocking to state that marketing research does not solve any problem
directly. It is not a problem-solving technique but can assist to solve it. It is not a magic stick
to solve marketing problems; it is a source of information. To the extent source is reliable and
is used properly, it is useful. Even, an excellent research project is useless if outcomes are not
considered.
7. Subjective or Biased Result:

When human being is involved, a completely bias-free response or result is not possible.
Effect of personal value, prejudice, attitudes, needs, and other socio-cultural factors affect the
objectivity of research adversely. Subjectivity may lead to utter chaos.
8. It cannot Eliminate Risks Inherent in Decision-making:
In every economic decisions, there exists risk and uncertainly. Marketing research cannot
eliminate risk and uncertainty. It is an attempt to minimize degree of risk. So, heavy costs on
marketing research don’t guarantee safety and certainty.
9. Applicability or Use:
Contribution of research project depends not only on quality and reliability alone, but also the
proper use of information. Many times, marketing research reports remain just a formality for
top management. Recommendations are neither considered seriously nor implemented fully.
10. Difference between Filed Officers, Data Analysts, and Decision- makers:
Marketing research activity involves a number of people such as marketing manager, field
officer, data analysts, and finally decision-maker. All these people have different objectives,
backgrounds, and perspectives. Consistency or parity among them is a vital issue. Unless
high degree of integration and intimacy among them exit, one cannot expect a success. In
fact, it is difficult.
Marketing manager and those involved in marketing research activity must be aware of these
limitations/practical problems. Note that these limiting factors cannot be completely
eradicated. Attempts should be made to minimize adverse impact of these limiting factors.
Careful plan, adequate budget, teamwork, accuracy, timeliness, proper use and
implementation, etc., have a strong prospect to contribute in successful marketing research.
CHAPTER VIII: DATA ANALYSIS
8.1 Value Chain
The overwhelming majority of hydrogen produced today is from fossil fuels, and around 60%
of it is produced in “dedicated” hydrogen production facilities, meaning that hydrogen is their
primary product. Most of this is produced from natural gas, though some comes from coal,
and a small fraction comes from water electrolysis (a process that produces hydrogen from
water and electricity). One-third of global supply is “by-product” hydrogen, meaning that it
comes from facilities and processes designed primarily to produce something else. This by-
product hydrogen often needs dehydrating or other types of cleaning, and can then be sent to
a variety of hydrogen-using processes and facilities. Most hydrogen is currently produced
near to its end use, using resources extracted in the same country.
Overall, less than 0.7% of current hydrogen production is from renewables or from fossil fuel
plants equipped with CCUS. In total, hydrogen production today is responsible for 830
MtCO2/yr. In general, demand for pure hydrogen that is supplied from dedicated facilities is
the most straightforward to replace with alternative sources of low-carbon hydrogen.
Figure 1: Today’s Hydrogen Value Chain
Around 70 Mt of dedicated hydrogen are produced today, 76% from natural gas and almost
all the rest (23%) from coal. Annual hydrogen production consumes around 205 billion m3 of
natural gas (6% of global natural gas use) and 107 Mt of coal (2% of global coal use), with
coal use concentrated in the People’s Republic of China (“China”). As a consequence, global
hydrogen production today is responsible for 830 MtCO2/yr – corresponding to the annual
CO2 emissions of Indonesia and the United Kingdom combined.
• Electrolysis currently accounts for 2% of global hydrogen production, but there is

significant scope for electrolysis to provide more low-carbon hydrogen. Surplus electricity
from variable renewables has low costs, but the number of hours during which this surplus
occurs is generally low. Falling costs mean that dedicated renewables for hydrogen
production in regions with excellent resource conditions could, however, now become a
reliable low-cost hydrogen source. If all current dedicated hydrogen production were
produced through water electrolysis (using water and electricity to create hydrogen), this
would result in an annual electricity demand of 3 600 TWh – more than the annual electricity
generation of the European Union. Water requirements would be 617 million m3 , or 1.3% of
the water consumption of the global energy sector today; this is roughly twice the current
water consumption for hydrogen from natural gas.
• There are huge regional variations in hydrogen production costs today, and their future
economics depend on factors that will continue to vary regionally, including prices for fossil
fuels, electricity and carbon. Natural gas without CCUS is currently the most economic
option for hydrogen production in most parts of the world, with costs being as low as USD
1/kgH2 in the Middle East. Among low-carbon options, electrolysis requires electricity prices
of USD 10–40/MWh and full load hours of 3 000–6 000 to become cost-competitive with
natural gas with CCUS (depending on local gas prices). Regions with good renewable
resources or nuclear power plants may find electrolysis an attractive option, especially if they
currently depend on relatively high cost natural gas imports.
• Conversion of hydrogen into other hydrogen-based fuels could be attractive where few
other low-carbon alternatives are available, but is not economic at current prices. The
conversion of hydrogen to ammonia benefits from existing infrastructure and demand; it also
does not need carbon as an input. For synthetic liquid fuels from electrolytic hydrogen,
however, electricity costs of USD 20/MWh translate into costs of USD 60–70/bbl without
taking account of any capital expenditure or CO2 feedstock costs. For synthetic methane the
equivalent figure is USD 10–12/MBtu. Carbon pricing or equivalent policies would be
needed to reduce the cost gap between synthetic hydrocarbons and fossil fuels.
8.2 Storage, transmission and distribution of hydrogen
 Transport and storage costs will play a significant role in the competitiveness of
hydrogen. If hydrogen can be used close to where it is made, these costs could be
close to zero. However, if the hydrogen has to travel a long way before it can be used,
the costs of transmission and distribution could be three times as large as the cost of
hydrogen production.
 The smooth operation of large-scale and intercontinental hydrogen value chains will
depend on the availability of adequate storage capacity and functionality. Various
storage options are available today, with underground facilities that can hold tens of
thousands of tonnes of hydrogen already in operation. Further research is needed to
assess what storage is likely to be needed in the future in terms of volume, duration,
price, and speed of discharge, and to examine options to promote their development.
 Long-distance transmission and local distribution of hydrogen is difficult given its
low energy density. Compression, liquefaction or incorporation of the hydrogen into
larger molecules is possible options to overcome this hurdle. Each option has
advantages and disadvantages, and the cheapest choice will vary according to
geography, distance, scale and the required end use.
 Blending hydrogen into existing natural gas pipeline networks would provide a boost
to hydrogen supply technologies without incurring the investment costs and risks of
developing new hydrogen transmission and distribution infrastructure. Action to
update and harmonise national regulations that set limits on allowed concentrations of
hydrogen in natural gas streams would help to facilitate such blending.
 If hydrogen needs to be shipped overseas, it generally has to be liquefied or
transported as ammonia or in liquid organic hydrogen carriers (LOHCs). For distances
below 1 500 km, transporting hydrogen as a gas by pipeline is likely to be the
cheapest delivery option; above 1 500 km, shipping hydrogen as ammonia or an
LOHC is likely to be more cost-effective. These alternatives are cheaper to ship, but
the costs of conversion before export and reconversion back to hydrogen before
consumption are significant. They may also sometimes give rise to safety and public
acceptance issues.
 Pipelines are likely to be the most cost-effective long-term choice for local hydrogen
distribution if there is sufficiently large, sustained and localised demand. However,
distribution today usually relies on trucks carrying hydrogen either as a gas or liquid,
and this is likely to remain the main distribution mechanism over the next decade.
 There are a number of regions where hydrogen imports could be cheaper than
domestic production. In Japan domestic production of hydrogen using electrolysers
and its distribution could cost around USD 6.5 per kgH2 in 2030; hydrogen imported
from Australia could cost around USD 5.5/kgH2. Similar opportunities may develop
in Korea and parts of Europe. Using ammonia directly in end-use sectors could further
improve the competitiveness of imports. Even where importing hydrogen is not the
cheapest option, some energy-importing countries may wish to consider imports to
increase their energy diversity and access to low-carbon energy.
Figure 2: Full Cost of hydrogen delivery to the industrial sector by pipeline or by ship in 2030 for different transmision
distances
8.3 Present and potential industrial uses of hydrogen
• Hydrogen use today is dominated by industrial applications. The top four single uses of
hydrogen today (in both pure and mixed forms) are: oil refining (33%), ammonia production
(27%), methanol production (11%) and steel production via the direct reduction of iron ore
(3%). Virtually all of this hydrogen is supplied using fossil fuels. These existing uses of
hydrogen underpin many aspects of the global economy and our daily lives. Their future
growth depends on the evolution of demand for downstream products, notably refined fuels
for transport, fertilisers for food production, and construction materials for buildings.
• More than 60% of hydrogen used in refineries today is produced using natural gas. Tougher
air pollutant standards could increase the use of hydrogen in refining by 7% to 41 MtH2/yr by
2030, although further policy changes to curb increases in oil demand could dampen the pace
of growth. Current global refining capacity is generally thought sufficient to meet rising oil
demand, which implies that the majority of future hydrogen demand is likely to arise from
existing facilities already equipped with hydrogen production units. This suggests an
opportunity for retrofitting CCUS as a suitable option to reduce related emissions.
• Demand for ammonia and methanol is expected to increase over the short to medium term,
with new capacity additions offering an important opportunity to scale up low-emissions
hydrogen pathways. Greater efficiency can reduce overall levels of demand, but this will only
partially offset demand growth. Whether via natural gas with CCUS or electrolysis, the
technology is available to provide the additional hydrogen demand growth projected for
ammonia and methanol (up 14 MtH2/yr by 2030) in a low-carbon manner. As a priority,
substituting low-emissions pathways for any further coal-based production without CCUS
would significantly help cut emissions.
• In the longer term, steel and high-temperature heat production offer vast potential for
lowemissions hydrogen demand growth. Assuming that the technological challenges that
currently inhibit the widespread adoption of hydrogen in these areas can be overcome, the
key challenges will be reducing costs and scaling up. In the long term it should be technically
possible to produce all primary steel with hydrogen, but this would require vast amounts of
lowcarbon electricity (around 2 500 TWh/yr, or around 10% of global electricity generation
today) and would only be economic without policy support at very low electricity prices.
Opportunities for hydrogen in transport, buildings and power
• Hydrogen holds long-term promise in many sectors beyond existing industrial applications.
The transport, buildings and power sectors all have potential to use hydrogen if the costs of
production and utilisation develop favourably relative to other options. The complex
processes involved in developing and deploying hydrogen, however, mean that carefully
crafted policy support will be critical.
• The competitiveness of hydrogen FCEVs in transport depends on fuel cell costs and on the
building and utilisation of refuelling stations. For cars the priority is to bring down the cost of
fuel cells and on-board hydrogen storage. This could make them competitive with battery
electric vehicles at driving ranges of 400–500 km and make them potentially attractive for
consumers that prioritise range. For trucks the priority is to reduce the delivered price of
hydrogen. In early stages of deployment, building hydrogen stations that serve captive fleets
on hub-and-spoke missions could help to secure high refuelling station utilisation and thus
could be a way to get infrastructure construction off the ground.
• Shipping and aviation have limited low-carbon fuel options available and represent an
opportunity for hydrogen-based fuels. Ammonia and hydrogen have the potential to address
environmental targets in shipping, but their cost of production is high relative to oil-based
fuels. Hydrogen-based liquid fuels provide a potentially attractive option for aviation at the
expense of higher energy consumption and potentially higher costs. Policy support in the
form of lowcarbon targets or other approaches is critical to their prospects.
• The largest near-term opportunity in buildings is blending hydrogen into existing natural
gas networks. In 2030 up to 4 Mt of potential hydrogen use for heating buildings could come
from low-concentration blending which, if low-carbon, could help to reduce emissions. The
potential is highest in multifamily and commercial buildings, particularly in dense cities,
where conversion to heat pumps is more challenging than elsewhere. Longer-term prospects
in heating could include the direct use of hydrogen in hydrogen boilers or fuel cells, but both
of these would depend on infrastructure upgrades and on measures to address safety concerns
and provide public reassurance.
• Power generation offers many opportunities for hydrogen and hydrogen-based fuels. In the
near term ammonia could be co-fired in coal-fired power plants to reduce CO2 emissions.
Hydrogen and ammonia can be flexible generation options when used in gas turbines or fuel
cells. At the low capacity factors typical of flexible power plants, hydrogen costing under
USD 2.5/kg has good potential to compete. Key low-carbon competitors for such services
include natural gas with CCUS and biogas. In the longer term, hydrogen can play a role in
largescale and long-term storage to balance seasonal variations.
CHAPTER IX: FINDINGS
In the run-up to the UN Framework Convention on Climate Change (COP 26), an increasing
number of countries are announcing targets to achieve net zero emissions.GHG emissions in
the coming decades. As a result, over 100 companies that consume large amounts of energy
or manufacture energy consuming goods have followed suit. As demonstrated in the IEA's
Net Zero by 2050 roadmap, meeting these targets will necessitate immediate action to
transform the 2020s into a decade of massive clean energy expansion.
In order to achieve net zero emissions, hydrogen will need to play a significant role. Since the
first Hydrogen Energy Ministerial (HEM) meeting in Japan in 2018, momentum has grown,
and an increasing number of governments and companies are developing hydrogen visions
and plans.
9.1 Types of hydrogen in the Global Hydrogen Review
Hydrogen is a very versatile fuel that can be produced using a wide range of technologies and
energy sources (coal, oil, natural gas, biomass, renewables, and nuclear) (reforming,
gasification, electrolysis, pyrolysis, water splitting and many others). In recent years, colours
have been used to refer to different hydrogen production routes (e.g., green for renewable
hydrogen and blue for natural gas with carbon capture, utilisation, and storage [CCUS]), and
specialised terms currently under discussion include "safe", "sustainable", "low-carbon", and
"clean".
9.2 Technology Type Insights
On the basis of Technology Type, the global market has been further divided into Steam
Methane Reforming, Coal Gasification, plus Others. The steam methane reforming process is
a mature and advanced technology in hydrogen generation. The growing demand for
hydrogen generation across the globe is a crucial driving factor for steam methane reformers
technology, as steam methane reforming is the most economical method for hydrogen
generation. Other factors driving the growth of the market include operational benefits such
as high conversion efficiency associated with the steam methane reforming process. The
Steam Methane Reforming segment is expected to keep its lead during the forecast period.
Coal Gasification held a share of 34.58% in the global Hydrogen Generation Market in 2021.
Coal gasification which uses coal as a raw material for producing hydrogen has been in
practice for nearly two centuries, moreover, it is also recognized as a mature technology for
hydrogen generation. The U.S. has a huge domestic resource in coal. The use of coal to
generate hydrogen for the transportation sector is expected to help America in reducing its
dependency on imported petroleum products.
Technologies considered under others segment include electrolysis and pyrolysis process,
electrolyzes. Over the last decade, there has been an increase in new electrolysis installation
with an aim to produce hydrogen from water, wherein PEM technology is gaining a
significant share in the market since the process emits only oxygen as a byproduct without
carbon emission. Presently most of the electrolysis projects are in Europe; however, the new
and upcoming projects have been announced in Australia, China, and America.
9.3 The colours of Hydrogen
All the different processes to produce hydrogen can be characterised by giving the hydrogen
a colour label. Although hydrogen is a colourless gas these labels are now in common use as
a shorthand notation and are described below:
 Grey Hydrogen is obtained by steam methane reforming and the CO 2 produced is

released into the atmosphere.
 Blue hydrogen is obtained by steam methane reforming but the CO2 is captured and
stored in a CCUS system e.g.
 Green hydrogen is obtained by the electrolysis of water (or steam) using electricity
obtained for a renewable source such as wind or solar.
 Pink hydrogen is obtained by the electrolysis of water where the electricity is derived
from nuclear power.
 Black/Brown hydrogen is obtained from coal through the gasification, but it is a very
polluting process as CO2 is released to the atmosphere.
Figure 3: Hydroegn production methods and colors
9.4 Types of Hydrogen Production –
1. Steam Reforming – Steam and natural gas are treated to remove contaminants before
being heated at high pressure at 900°C over a nickel-based catalyst. The end result is
syngas, a mixture of carbon monoxide (CO) and hydrogen. In the water-gas shift
reaction, syngas is further treated to produce more hydrogen and carbon dioxide. The
CO2 produced is currently released into the atmosphere, but it can be used as a
byproduct, for example, in food processing and packaging, where it is eventually
released back into the atmosphere. The heat required to drive the reaction is derived
from the combustion of natural gas, which produces more CO2.
2. Partial oxidation of methane – Another method of providing heat for the SMR
reaction is through a process known as partial oxidation of methane, which emits heat
as the reaction occurs. The partial oxidation reaction can be combined with the steam
reforming reaction to form an autothermal reformer (ATR) (see box). Because there is
no need for external heat, this is a more efficient and compact reformer, resulting in
lower capital costs and lower carbon emissions.
The CO2 produced by these methane-based processes must be captured and stored in
a geological repository in order to decarbonize them. Carbon Capture, Utilization, and
Storage (CCUS) projects involve injecting CO2 into geological reservoirs such as
depleted oil and gas fields.
3. Electrolysis - The production of hydrogen through water electrolysis is an alternative

that is being strongly promoted, particularly if renewable electricity can be used.
Electrolysis can occur at low temperatures using alkaline or PEM electrolysers, or at
high temperatures using solid oxide electrolysers. High temperature electrolysis is
easier to integrate into industrial processes, particularly when waste heat is available
and very high process efficiencies can be obtained. Because of cost constraints,
electrolysis accounts for only 2% of global hydrogen production; however, this will
change dramatically as electrolysis technology advances to meet emission targets.
Figure 4: Green hydrogen supply chain
Figure 5 : Colour scheme, classification, and production capacities of hydrogen, based on production processes,
feedstock and/ or energy source
9.5 APPLICATION INSIGHTS
Ammonia production segment led the market and accounted for the largest revenue share of
more than 20.28% in 2021. The ammonia production segment will maintain its lead
throughout the forecast period. Ammonia’s potential as a carbon-free fuel, hydrogen carrier,
and energy store represents an opportunity for renewable hydrogen technologies to be
deployed at an even greater scale. Hydrogen is typically produced on-site at ammonia plants
from a fossil fuel feedstock. The most common feedstock is natural gas, which feeds a steam
methane reforming (SMR) unit. Coal can also be used to produce ammonia via a partial
oxidation (POX) process.
The market is estimated to have a steady growth in all segments as the demand for hydrogen
increases. Methanol is currently considered one of the most useful chemical products and is a
promising building block for obtaining more complex chemical compounds, such as acetic
acid, methyl tertiary butyl ether, dimethyl ether, methylamine, etc. Methanol is the simplest
alcohol, appearing as a colorless liquid and with a distinctive smell, and can be produced by
converting CO2 and H2, with the further benefit of significantly reducing CO2 emissions in
the atmosphere.
Hydrogen-based power generation technology has comfortably positioned itself in mature
markets, such as North America and Europe, where clean yet effective energy is one of the
primary aspects. Hydrogen-based power generation, which is cost-effective and a reliable
source of power generation, are generating optimistic demands.
Turning crude oil into various end-user products such as transport fuels and petrochemical
feedstock are some of the major applications of hydrogen. Hydro treatment and hydro-
cracking are the main hydrogen-consuming processes in the refinery. Hydro treatment is used
to remove impurities, especially Sulphur, and accounts for a large share of refinery hydrogen
use, globally. Hydrocracking is a process that uses hydrogen to upgrade heavy residual oils
into higher-value oil products.
9.6 SOURCE INSIGHTS
In source, natural gas segment led the market in 2021. Hydrogen is produced from natural gas
reforming which produces hydrogen, carbon monoxide, and carbon dioxide. Hydrogen
production from natural gas is the cheapest method of producing hydrogen. It is expected to
keep its lead during the forecast period.
9.10 SYSTEMS INSIGHTS
Based on systems Merchant generation segment led the market in 2021. Merchant generation
of hydrogen means hydrogen is produced at a central production facility and is transported
and sold to a consumer by bulk tank, pipeline or cylinder truck. In many countries such as the
U.S., Canada, and Russia there is an extensive existing natural gas pipeline network that
could be used to transport and distribute hydrogen. The merchant generation segment is
expected to keep its lead during the forecast period.
9.11 REGIONAL INSIGHTS
The Asia Pacific dominated the global market in 2021and accounted for the largest revenue
share of over 41.40%. China led the Asia Pacific regional market in 2021, in terms of
revenue. The presence of a greater number of refineries within the Asia Pacific region, in
major countries such as China and India, has resulted to drive the utilization of hydrogen
generation in the region. Further, governments in some of the Asia Pacific countries such as
Japan and Australia are evaluating greener and cleaner technologies for hydrogen generation.
Hydrogen producers in the region are looking to expand their geographical reach and target
countries like Vietnam, Indonesia, and South Africa among other developing nations, to
boost their revenue. U.S.-based market players like Praxair Inc., and Air Liquide are looking
to expand their operations in the countries with increasing demand for hydrogen, as part of
their strategic growth plans.
The expansion of the hydrogen generation industry in North America has been underway for
several years. The industry has grown at a brisk pace with contributions from each
application and technology. Methanol production and ammonia production are the fastest
growing sector with countries such as the U.S. and Canada, witnessing significant growth in
the last five years.
Growth in hydrogen generation is expected in the region on account of the development and
deployment of fuel cell systems in Europe which is witnessing an increase due to the projects
announced by the European Commission through organizations such as Fuel Cells and
Hydrogen Joint Undertaking (FCH JU). These projects have been announced with an
objective to increase the adoption of fuel cell vehicles in Europe and this will assist in the
development of supportive hydrogen infrastructure for the fuel cell vehicles in the major
European countries.
9.12 Key Companies & Market Share Insights

The hydrogen generation market is competitive with key participants involved in R&D and
constant innovation done by the vendors. It has become one of the most important factors for
companies to perform in this industry. For instance, Matheson Tri-Gas, Inc. acquired Linde
HyCO business that produces hydrogen, carbon monoxide, or syngas.
The acquisition is expected to promote the expansion of the company’s capabilities and serve
the petrochemical and refining industries. Air Liquide announced that the company will
manufacture and market renewable liquid hydrogen to U.S. west coast mobility market. The
large-scale project is expected to produce 30 tons of liquid hydrogen per day
using biogas technology. Some of the prominent players in the global hydrogen generation
market include:
 Air Liquide International S.A

 Air Products and Chemicals, Inc
 Hydrogenics Corporation
 INOX Air Products Ltd.
 Iwatani Corporation
 Linde Plc
 Matheson Tri-Gas, Inc.
 Messer
 SOL Group
 Tokyo Gas Chemicals Co., Ltd.
.
CHAPTER X: CONCLUSIONS & SUGGESTIONS
10.1 CONCLUSION
Hydrogen can help tackle various critical energy challenges –It offers ways to decarbonise a
range of sectors – including long-haul transport, chemicals, and iron and steel – where it is
proving difficult to meaningfully reduce emissions. It can also help improve air quality and
strengthen energy security. Despite very ambitious international climate goals, global energy-
related CO2 emissions reached an all time high in 2018. Outdoor air pollution also remains a
pressing problem, with around 3 million people dying prematurely each year.
Hydrogen is versatile –Technologies already available today enable hydrogen to produce,

store, move and use energy in different ways. A wide variety of fuels are able to produce
hydrogen, including renewables, nuclear, natural gas, coal and oil. It can be transported as a
gas by pipelines or in liquid form by ships, much like liquefied natural gas (LNG). It can be
transformed into electricity and methane to power homes and feed industry, and into fuels for
cars, trucks, ships and planes.
Hydrogen can enable renewables to provide an even greater contribution – It has the
potential to help with variable output from renewables, like solar photovoltaics (PV) and
wind, whose availability is not always well matched with demand. Hydrogen is one of the
leading options for storing energy from renewables and looks promising to be a lowest-cost
option for storing electricity over days, weeks or even months. Hydrogen and hydrogenbased
fuels can transport energy from renewables over long distances – from regions with abundant
solar and wind resources, such as Australia or Latin America, to energy-hungry cities
thousands of kilometres away.
There have been false starts for hydrogen in the past; this time could be different – The recent
successes of solar PV, wind, batteries and electric vehicles have shown that policy and
technology innovation have the power to build global clean energy industries. With a global
energy sector in flux, the versatility of hydrogen is attracting stronger interest from a diverse
group of governments and companies. Support is coming from governments that both import
and export energy as well as renewable electricity suppliers, industrial gas producers,
electricity and gas utilities, automakers, oil and gas companies, major engineering firms, and
cities. Investments in hydrogen can help foster new technological and industrial development
in economies around the world, creating skilled jobs.
Hydrogen can be used much more widely – Today, hydrogen is used mostly in oil refining
and for the production of fertilisers. For it to make a significant contribution to clean energy
transitions, it also needs to be adopted in sectors where it is almost completely absent at the
moment, such as transport, buildings and power generation.
However, clean, widespread use of hydrogen in global energy transitions faces several
challenges:
• Producing hydrogen from low-carbon energy is costly at the moment. The analysis finds
that the cost of producing hydrogen from renewable electricity could fall 30% by 2030 as a
result of declining costs of renewables and the scaling up of hydrogen production. Fuel cells,
refuelling equipment and electrolysers (which produce hydrogen from electricity and water)
can all benefit from mass manufacturing.
• The development of hydrogen infrastructure is slow and holding back widespread adoption.
Hydrogen prices for consumers are highly dependent on how many refuelling stations there
are, how often they are used and how much hydrogen is delivered per day. Tackling this is
likely to require planning and coordination that brings together national and local
governments, industry and investors.
• Hydrogen is almost entirely supplied from natural gas and coal today. Hydrogen is already
with us at industrial scale all around the world, but its production is responsible for annual
CO2 emissions equivalent to those of Indonesia and the United Kingdom combined.
Harnessing this existing scale on the way to a clean energy future requires both the capture of
CO2 from hydrogen production from fossil fuels and greater supplies of hydrogen from clean
electricity.
• Regulations currently limit the development of a clean hydrogen industry. Government and
industry must work together to ensure existing regulations are not an unnecessary barrier to
investment. Trade will benefit from common international standards for the safety of
transporting and storing large volumes of hydrogen and for tracing the environmental impacts
of different hydrogen supplies.
10.2 SUGGESTIONS
1. Establish a role for hydrogen in long-term energy strategies. National, regional and city
governments can guide future expectations. Companies should also have clear long-term
goals. Key sectors include refining, chemicals, iron and steel, freight and long-distance
transport, buildings, and power generation and storage.
2. Stimulate commercial demand for clean hydrogen. Clean hydrogen technogies are
available but costs remain challenging. Policies that create sustainable markets for clean
hydrogen, especially to reduce emissions from fossil fuel-based hydrogen, are needed to
underpin investments by suppliers, distributors and users. By scaling up supply chains, these
investments can drive cost reductions, whether from low-carbon electricity or fossil fuels
with carbon capture, utilisation and storage.
3. Address investment risks of first-movers. New applications for hydrogen, as well as clean
hydrogen supply and infrastructure projects, stand at the riskiest point of the deployment
curve. Targeted and time-limited loans, guarantees and other tools can help the private sector
to invest, learn and share risks and rewards.
4. Support R&D to bring down costs. Alongside cost reductions from economies of scale,
R&D is crucial to lower costs and improve performance, including for fuel cells,
hydrogenbased fuels and electrolysers (the technology that produces hydrogen from water).
Government actions, including use of public funds, are critical in setting the research agenda,
taking risks and attracting private capital for innovation.
5. Eliminate unnecessary regulatory barriers and harmonise standards. Project developers

face hurdles where regulations and permit requirements are unclear, unfit for new purposes,
or inconsistent across sectors and countries. Sharing knowledge and harmonising standards is
key, including for equipment, safety and certifying emissions from different sources.
Hydrogen’s complex supply chains mean governments, companies, communities and civil
society need to consult regularly.
6. Engage internationally and track progress. Enhanced international co-operation is needed

across the board but especially on standards, sharing of good practices and crossborder
infrastructure. Hydrogen production and use need to be monitored and reported on a regular
basis to keep track of progress towards long-term goals.
7. Focus on four key opportunities to further increase momentum over the next decade. By
building on current policies, infrastructure and skills, these mutually supportive opportunities
can help to scale up infrastructure development, enhance investor confidence and lower costs:
• Make the most of existing industrial ports to turn them into hubs for lower-cost, lower-
carbon hydrogen.
• Use existing gas infrastructure to spur new clean hydrogen supplies.
• Support transport fleets, freight and corridors to make fuel-cell vehicles more competitive.
• Establish the first shipping routes to kick-start the international hydrogen trade
10.3 SOSTAC Model
 Situation – Hydrogen is almost entirely supplied from natural gas and coal today. Hydrogen
is already with us at industrial scale all around the world, but its production is responsible for
annual CO2 emissions equivalent to those of Indonesia and the United Kingdom combined
 Objectives – Harnessing this existing scale on the way to a clean energy future requires both
the capture of CO2 from hydrogen production from fossil fuels and greater supplies of
hydrogen from clean electricity.
 Strategy – Stimulate commercial demand for clean hydrogen. Clean hydrogen technogies are
available but costs remain challenging. Policies that create sustainable markets for clean
hydrogen, especially to reduce emissions from fossil fuel-based hydrogen, are needed to
underpin investments by suppliers, distributors and users. By scaling up supply chains, these
investments can drive cost reductions, whether from low-carbon electricity or fossil fuels
with carbon capture, utilisation and storage.
Tactics – Address investment risks of first-movers. New applications for hydrogen, as well
as clean hydrogen supply and infrastructure projects, stand at the riskiest point of the
deployment curve. Targeted and time-limited loans, guarantees and other tools can help the
private sector to invest, learn and share risks and rewards.
 Action – Establish a role for hydrogen in long-term energy strategies. National, regional and
city governments can guide future expectations. Companies should also have clear long-term
goals. Key sectors include refining, chemicals, iron and steel, freight and long-distance
transport, buildings, and power generation and storage.
 Control – Engage internationally and track progress. Enhanced international co-operation is
needed across the board but especially on standards, sharing of good practices and
crossborder infrastructure. Hydrogen production and use need to be monitored and reported
on a regular basis to keep track of progress towards long-term goals.
CHAPTER XII: BIBLIOGRAPHY
1. https://www.grandviewresearch.com/
2. https://www.grandviewresearch.com/industry-analysis/hydrogen-generation-market
3. https://www.alliedmarketresearch.com/hydrogen-generation-market
4. https://www.fortunebusinessinsights.com/industry-reports/hydrogen-generation-
market-100745
5. https://www.marketresearchfuture.com/reports/hydrogen-generation-market-7026
6. https://www.iea.org/reports/the-future-of-hydrogen
7. https://www.marketsandmarkets.com/Market-Reports/hydrogen-generation-market-
494.html#:~:text=The%20current%20market%20size%20of,USD
%20160.0%20Billion%20in%202022.
8. https://www.sciencedirect.com/science/article/pii/S1364032121004688
10. https://www.sciencedirect.com/science/article/abs/pii/S036031991732791X
11. https://www.nrel.gov/hydrogen/hydrogen-production-delivery.html
12. https://www.energy.gov/eere/fuelcells/hydrogen-production-processes
13. https://www.sciencedirect.com/science/article/pii/S1674862X2100001X

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Prepared By

Shree Chanakya Education

An Autonomous Institute affiliated to SPPU

Under the guidance of

Shree Chanakya Education Society’s

Name of Student: Hanu Tiwari

Enrolment Number: 21IIMPMBA84

Certificate of completion (by College)...........................................................................................3

Figure 1: Today’s Hydrogen Value Chain...........................................................................................52

Title of the project:

“To Study the Hydrogen Generation Market”

Name of the company: Grand View Research Inc.

Place of the company: Pune, India

Time frame: The duration of SIP was from 04/04/2022 to 19/07/2022

Objectives of the project:

 I made 15 sample reports of consumer goods domains for different clients.

 I have improved my presentation skills.

1.1 INTRODUCTION TO THE TITLE

1.2 SIGNIFICANCE OF THE STUDY

2.1 OVERVIEW OF THE INDUSTRY/ SECTOR

2.2 CONTRIBUTION OF THE SECTOR TOWARDS GDP

Regulatory compliance is a pertinent issue to business development, legal compliance,

FOREIGN INVESTMENT POLICY

EXIT STRATEGY AND DISPUTE SETTLEMENT IN INDIA

 Changes in business conditions or regulatory environment

ANTI-TRUST REGULATION IN INDIA

3.2. MISSION, VISIONS ETC.

SHASHI KUMAR CEO

SAWAYAM DASH Managing director

NILESH PATANKAR Director

3.4. REGISTERED ADDRESS/ NUMBER OF BRANCHES

Grand View Research

Pune, MH, 411045 India

3.5. COMPOSITION OF BOARD

 Shashi Kumar, CEO and Co-Founder

3.6. MAJOR CUSTOMERS

Shashi Kumar (CEO

 Market Research Reports

3.12. OVERVIEW OF DIFFERENT DEPARTMENTS

2. Using hydrogen to store energy is a promising green alternative. As a result, there is a

4. This paper compares various non-renewable and renewable hydrogen production

8. To achieve gradual but timely decarbonization of the transportation sector, it is

9. This paper provides a comprehensive review of various processes and potential

CHAPTER V: APPLICATION OF MANAGEMENT

5.1 SWOT ANALYSIS

1. Time Gap Makes Research Irrelevant

5.2. STP ANALYSIS

 Segment: Enterprise seeking research data.

5.3 MARKETING MIX

 Market Research Reports

4. Promotion: Online promotion, and social media advertising.

Three extended Ps of marketing

7. Physical evidence: Website, RDs, Sample reports.

5.4 PORTER’S FIVE FORCES MODEL RELATED TO THE INDUSTRY

 Threat of New Entrants:

 Bargaining Power of Suppliers:

 Bargaining Power of Buyers:

 Rivalry Among Existing Competitors:

5.5 ANSOFF MATRIX

 Market Research Reports

The diversification strategy is designed to enter new markets by offering completely different

5.6 SOSTAC MODEL

CHAPTER VI: OBJECTIVES AND SCOPE OF PROJECT