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The economic effects of the outbreak of coronavirus (COVID-19) for many businesses are significant and likely to endure for a long period of time.
How much is the hydrogen generation market expected to grow in the coming years?
The global hydrogen generation market was valued at around USD 100 billion in 2018 and – given the increasing demand for clean fuels as well as petroleum products that are refined using hydrogen – market research reports estimate it should reach approximately USD 200 billion by 2023.
What are the main factors driving market growth?
Several factors come into play, including stricter regulations for sulfur content in petroleum products that were implemented by a number of countries, leading to more hydrogen being used for desulfurization. Greenhouse gas emission regulations are also boosting the fuel cell vehicle market. While the number of FC vehicles sold globally is still only in the thousands, manufacturers are investing in the technology.
What are the factors preventing the market from developing at a faster pace?
How is hydrogen technology used in the transport sector?
What are the legal issues confronting hydrogen development?
Early movers in the hydrogen economy have a number of legal needs:
Government or utility incentives for new load or for clean energy development may be necessary to catalyze early projects, such as qualifying for greenhouse gas offset credits.
As businesses worldwide navigate the challenges brought on by the rapid spread of COVID-19 (coronavirus), it is now more essential than ever that corporations be ready with solutions to address risk issues as they arise.
In light of the impact of the COVID-19 pandemic in Europe and Germany, the German Government has issued a number of sovereign measures on the basis of the Law on Infection Protection in order to slow down the further spreading of the pandemic.