How can the industry partner strategically enter the new and expanding maritime market for zero-emission hydrogen systems in Norway?

Abstract

The international and national climate politics in the maritime industry has incentivised the green transition, where the zero-emission maritime market in Norway is seen to be maturing and developing. The commitment to the Paris Agreement, through a nationally determined climate action plan, has projected the aim of reducing the greenhouse gas emissions by 50% within 2030, and to be completely climate neutral within 2050 in the Norwegian maritime sector.

With the macro-environment incentivising the transition into the hydrogen and zero-emission maritime market, businesses are also evolving. These maritime businesses are seeking to enter and establish themselves in a new market that is still maturing, where hydrogen systems could be a potential zero-emission fuel in the industry. This thesis will investigate how the industry partner can strategically enter the new and expanding maritime market for zero-emission hydrogen systems in Norway.

The research in this thesis is divided into three parts:

1. PEST analysis - To investigate the macro-environment in the maritime market. 2. Porter’s Five Forces analysis - Used to determine the intensity of the existing market. 3. Competitor analysis - Used to identify and differentiate the competitors in the market.

The information in this thesis is based on primary and secondary sources, where data responses were collected from several competitors in the maritime market, and through academic literature and websites. It was seen that the macroenvironment is a significant driver for the transition in the market, following the political, economic, social and technological aspect. Furthermore, it was also found that the intensity in the market is still low, as there are only a few competitors currently in the market. Moreover, the identification and differentiation of these competitors were also explored and discussed. Overall, all these factors were assessed and evaluated in order to draw a conclusion to the research question:

“How the industry partner can strategically enter the new and expanding maritime market for zero-emission hydrogen systems in Norway?”

The international and national climate politics in the maritime industry has incentivised the green transition, where the zero-emission maritime market in Norway is seen to be maturing and developing. The commitment to the Paris Agreement, through a nationally determined climate action plan, has projected the aim of reducing the greenhouse gas emissions by 50% within 2030, and to be completely climate neutral within 2050 in the Norwegian maritime sector.

With the macro-environment incentivising the transition into the hydrogen and zero-emission maritime market, businesses are also evolving. These maritime businesses are seeking to enter and establish themselves in a new market that is still maturing, where hydrogen systems could be a potential zero-emission fuel in the industry. This thesis will investigate how the industry partner can strategically enter the new and expanding maritime market for zero-emission hydrogen systems in Norway.

The research in this thesis is divided into three parts:

1. PEST analysis - To investigate the macro-environment in the maritime market. 2. Porter’s Five Forces analysis - Used to determine the intensity of the existing market. 3. Competitor analysis - Used to identify and differentiate the competitors in the market.

The information in this thesis is based on primary and secondary sources, where data responses were collected from several competitors in the maritime market, and through academic literature and websites. It was seen that the macroenvironment is a significant driver for the transition in the market, following the political, economic, social and technological aspect. Furthermore, it was also found that the intensity in the market is still low, as there are only a few competitors currently in the market. Moreover, the identification and differentiation of these competitors were also explored and discussed. Overall, all these factors were assessed and evaluated in order to draw a conclusion to the research question:

“How the industry partner can strategically enter the new and expanding maritime market for zero-emission hydrogen systems in Norway?”