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The decision to enter new markets directly or through partners in the hydrogen sector is based on a number of industry-specific variables. Download-https://www.marketsandmarkets.com/industry-practice/RequestForm.asp Here are some considerations: 1. Local Market Knowledge: Policies, rules, and infrastructure needs at the municipal level have an impact on the hydrogen business. Engaging in a partnership with local entities can offer significant insights and assistance in navigating the unique dynamics of the hydrogen business in a location you are unfamiliar with. 2. Access to Infrastructure: Infrastructure for hydrogen production, distribution, storage, and transportation must be accessible in order to establish a foothold in a new market. Since building new infrastructure can take time and money, partnering with businesses or organizations that already have infrastructure can let them enter the market much more quickly. 3. Technological Expertise: The hydrogen market is changing quickly, and different markets might have different needs or preferences in terms of technology. Working with partners who are knowledgeable about target market-specific hydrogen technology can assist make sure your products and services meet local demands and preferences. 4. Supply Chain Integration: Many parties are involved in the hydrogen value chain, from the manufacturing of hydrogen to its final uses. As they may already have established ties with suppliers, consumers, and industry players, partnering with local businesses that are already integrated into the supply chain can help expedite an efficient introduction into the market. 5. Government Relations and Incentives: Government incentives and policies are very important in determining the direction of the hydrogen sector. By collaborating with regional organizations, one can gain access to government networks, improving participation and maximizing the use of grants, incentives, and other funding sources for projects pertaining to hydrogen. 6. Risk Sharing: Risks associated with entering new markets include those related to financial uncertainty, market acceptance, and regulatory compliance. A more robust entry strategy and risk sharing can be achieved by partnering with well-established local players. The term
