The birth, growth, and share of a new market in the world and in Turkey: ‘Hydrogen energy and hydrogen technology products’ market

Abstract

While the needs for energy continuously increase, the searches for new energy sources are also intensified. In the last hundred or hundred and fifty years, there has been a gradual shift from coal to petroleum, and from petroleum to natural gas. This transition process to alternative energies is expected to continue. The next phase is expected to be the ‘hydrogen’ as the source of primary energy in the near future. It is estimated that the current energy sources such as petroleum and natural gas last for about 60 years. However, there is an ongoing research and development (R&D) activities focused on alternative energy sources. At present, hydrogen energy looks the closest alternative to be used because of variety of reasons. The existing fossil fuels (coal, petroleum, and natural gas) has limited potential but hydrogen has unlimited production capability, it can be transferred easily and safely, and can be used in variety of different areas including industry, residential and transportation. It is also safe, clean and environmentally friendly. All these features have made hydrogen energy as one of the most popular sources of energy for the future. World’s leading firms and research institutions have focused on R&D activities and have spent considerable financial resources and efforts in order to catch or lead the developments in the area regarding the existing technological developments in the area and size of the market potential in the world.  Leading countries have taken role in the process of technology development with considerable financial supports. Even at present, the market has reached to a considerable size, into which many national and international companies have launched variety of products.  In such conditions, many countries and firms are trying hard to have the largest share from it. This study investigates the birth, growth, and share of the world and Turkish hydrogen markets with respect to the current literature.