Hydrogen Market Trends: Navigating the Evolution of the H2 Economy
Verfasser: ashwani_kailiya on Tuesday, 18 July 2023Hydrogen, once considered a distant dream, is now on the horizon of commercialization, according to a recent study by MarketsandMarkets™ on ‘Hydrogen Future.’ MarketsandMarkets™, a leading market research and growth consulting firm, has identified a groundbreaking opportunity worth over $500 billion across the entire value chain of the Hydrogen Economy. This revelation underscores the immense potential and exciting developments within the hydrogen industry, offering transformative prospects for businesses.
Upstream: ~88% of hydrogen in 2022 (by value) was grey hydrogen; this shows global dependence on CO2 emitting H2; blue could develop as short-term infill but only green is truly a sustainable offering.
The global hydrogen generation market is projected to reach USD 263.5 Billion by 2027, at a CAGR of 10.5% between 2022 to 2027. The factors driving the growth of the hydrogen generation market are increasing hydrogen demand in the industrial sector and rising demand for hydrogen in transportation and power generation applications.
Low-carbon hydrogen production is expected to generate a $70 million opportunity by 2030, with green hydrogen being the sustainable choice.