Market study on hydrogen in the Nordics identifies interesting collaboration opportunities for Dutch companies

Spinverse, together in collaboration with the Embassies of the Netherlands in the Nordics and the Netherlands Enterprise Agency, has conducted market research regarding hydrogen in the Nordics. This study, titled “Hydrogen in the Nordics: Collaboration Opportunities for Dutch Companies”, delves deep into the needs, strengths, and aspirations unique to each Nordic country with regard to hydrogen economy. 

The market study carried out in the first half of 2023 is based on information gathered from interviewees from different organisations and clusters from all of the Nordic countries, combined with comprehensive literature reviews. The process was done in close cooperation between Spinverse and the representatives of the Dutch embassies of the Netherlands in the Nordics, with constant, two-way discussions throughout the whole writing process. The study presents a dedicated section for each of the distinguished Nordic countries: Denmark, Finland, Iceland, Norway and Sweden. This includes the market characteristics and industrial policy processes as well as concrete recommendations for entry for each country.  

The study has now been published and it evaluates both import and export opportunities for the Netherlands in the Nordic countries by elucidating the current and future market situation in the Nordics. It aims to link the Dutch strengths together with needs in the Nordics. The study aims to identify potential opportunities for Dutch companies in the Nordics and find areas where the Nordic countries can contribute to the rapidly evolving hydrogen economy in the Netherlands. The study also provides lists of the most notable hydrogen-based events in the Nordics as well as a list of some major players and networks operating in the field of hydrogen. 

Spanning more than 140 pages, the study finds that the stable political environment in the Nordics creates a transparent and business-friendly landscape, making it an attractive destination for Dutch companies looking to expand in Northern Europe. With their abundant renewable resources, Nordic countries hold immense potential for generating a significant amount of excess green hydrogen and its derivatives. This opens numerous possibilities for collaboration across the entire value chain. Despite challenges, including infrastructure development and production costs, the study underscores that strategic collaborations and innovative approaches can effectively navigate these hurdles, paving the way for a sustainable shared future. With all the countries sharing similar cultures, collaborating between them is perceived as low-barrier, easy to continue, and seamless. 

Analyst Antti Rantanen from Spinverse characterises the collaboration within the research group as follows: “Working alongside the exceptional team at the Embassies and my colleagues from Spinverse on this project has been an absolute delight. We couldn’t be happier with the result and the response it has garnered. Through this study, we are able to represent the wide knowledge of the hydrogen industry that we at Spinverse have. I am happy with the fact that even if this study is focused on the collaboration between Nordics and the Netherlands, it gives a proficient and comprehensive view of the overall landscape of hydrogen in the Nordics. Reading the study can be helpful to anyone interested in the current status and future prospects of green hydrogen in the Nordics.”  

Got interested? To read more about the key findings of this study, view the study here.