The global hydrogen infrastructure market is witnessing a transformative surge driven by escalating demands for sustainable energy solutions and the pursuit of carbon-neutral economies. As nations pivot towards cleaner energy sources, hydrogen emerges as a pivotal contender, offering a versatile and emission-free alternative. This burgeoning market encompasses a comprehensive network of production, storage, transportation, and utilization systems, poised to revolutionize energy landscapes. With intensified focus on renewable energy and concerted efforts to develop cutting-edge technologies, the global hydrogen infrastructure market stands at the forefront of the energy revolution, promising substantial growth and widespread adoption in the quest for a greener future.
Future of Global Hydrogen Infrastructure Market
With increasing emphasis on decarbonization and the mitigation of climate change, hydrogen infrastructure stands at the forefront, offering a scalable and adaptable solution across diverse sectors such as transportation, industry, and power generation. Supported by technological advancements, policy initiatives, and growing investments, the global hydrogen infrastructure market is poised for robust growth, poised to revolutionize energy landscapes and pave the way for a more sustainable future.
In 2021, the worldwide demand for hydrogen was estimated to be 94 million tonnes, accounting for around 2.5 percent of global energy consumption. The International Energy Agency (IEA) anticipated in 2022 that this demand would rise to just 115 million tonnes by 2030, with new applications accounting for less than 2 million tonnes. However, by 2050, the global hydrogen market might explode, reaching 600-650 million tonnes and potentially meeting more than 20% of global energy demands.
In 2022, the most widely used method for hydrogen production in the hydrogen infrastructure market is steam methane reforming (SMR). This method has been dominant due to its cost-effectiveness and efficiency, as natural gas has been relatively abundant and inexpensive in many regions. However, there has been an increasing emphasis on developing and utilizing cleaner methods of hydrogen production, such as electrolysis powered by renewable energy sources (like wind or solar power). In the upcoming years, with advancements in technology and changing energy landscapes will enhance hydrogen production.
A revolutionary electrolysis process discovered in Australia might increase efficiency from 75% to an unbelievable 95%. Green hydrogen may become economically competitive with blue hydrogen before the 2030 forecasts. Initial indications indicate that an electrolysis gigafactory might begin operations by 2025, reflecting falling electrolysis capacity prices. While the EU, Japan, Australia, and the United States are aggressively pushing for hydrogen, China’s estimates for hydrogen development are more moderate, with the goal of expanding the country’s energy alternatives. Though China’s hydrogen evolution is expected to increase progressively by 11-20% by the end of this decade, its pace may accelerate in the 2030s, perhaps reaching 90 million tonnes by 2060 to coincide with the country’s net-zero-emissions aim.
Key Companies in the Global Hydrogen Infrastructure Market
- Air Liquide
- Ballard Power Systems
- Cummins, Inc.
- DNV GL
- Engie SA
- ITM Power PLC
- Linde
- McPhy Energy S.A
- Nel ASA
- Plug Power Inc.
- Shell Group
- Siemens Energy
- Other market participants
Key Segments Profiled in the Global Hydrogen Infrastructure Market
By Production
- Electrolysis
- Coal Gasification
- Steam Methane Reforming
- Others
By Storage
- Compression
- Liquefaction
- Material Based
By Delivery
- Transportation
- Refinery
- Power Generation
- Hydrogen Refueling Stations
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
