Global Blue Hydrogen Market To Witness Exponential Growth Due to Carbon Emissions Reduction Goals; says TNR

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Global Blue Hydrogen Market To Witness Exponential Growth Due to Carbon Emissions Reduction Goals; says TNR

In the mission for a cleaner, more sustainable energy future, the global community has turned its gaze toward the remarkable potential of blue hydrogen. Amid growing concerns over greenhouse gas emissions and the imperative to combat climate change, blue hydrogen has emerged as a groundbreaking solution that holds the promise of reducing our carbon footprint while meeting our energy needs. This innovative technology is transforming the landscape of hydrogen production, offering a more environmentally responsible alternative to conventional methods. In this introduction, we will delve into the global blue hydrogen market, shedding light on its importance, key characteristics, and the factors driving its emergence as a pivotal player in the transition to a greener, more sustainable energy ecosystem.

The energy industry is changing, with a greater emphasis on cleaner energy sources and technologies that cut greenhouse gas emissions and contribute to a more sustainable future. In this context, hydrogen is emerging as a crucial actor in the energy transition, with a variety of clean production technologies offering varying benefits and market competitiveness. Rising power consumption and decarbonisation methods such as electrification of the energy sectors will result in a considerable total requirement for renewable electricity generation in AEDS of 46,000 TWh per year from solar and wind by 2050.

This vast quantity of renewable energy demand is more than 12 times more than present wind and solar output of roughly 3,600 TWh. Because there is such a high demand for renewable energy, it is critical to consider a major portion of hydrogen generation from alternative viable, competitive, and established techniques, such as natural gas-based blue hydrogen which will boost the growth of the overall global blue hydrogen market.

The cost competitiveness of these various blue hydrogen generation processes is a critical element influencing industry penetration and acceptance. Blue hydrogen is now a more cost-effective choice than green hydrogen since it uses existing natural gas infrastructure and CCS technology. At the moment, the typical cost of blue hydrogen is believed to be between US$1.5 and US$3 per kilogramme of hydrogen, whereas the cost of green hydrogen is greater, ranging between US$3 and US$6 per kilogramme. Blue hydrogen, on the other hand, is predicted to become more affordable as CCS technology develops and gets more commonly used.

Green hydrogen is expected to cost the same as blue hydrogen by 2050, making both choices viable for broad application in a variety of sectors.

Blue hydrogen has been mostly used in North America and East Asia, whilst low carbon hydrogen pioneers in Europe have preferred a mix of green and grey hydrogen. However, in January 2023, Germany announced plans to develop blue hydrogen reactors as well as a huge pipeline to serve Norway, as pressure increases in Europe to wean itself off Russian energy. Following Europe’s transformation to blue hydrogen, the Middle East is experiencing its own major energy revolution to exploit on its enormous indigenous resource base. The UAE, Saudi Arabia, and Qatar are leading the way in the development of blue hydrogen market.

Key Progresses in the Global Blue Hydrogen Market

In November 2023, KBR will carry out the front-end engineering design (FEED) for EET Hydrogen’s planned 1GW HPP2 blue hydrogen production facility in the UK. EET earlier announced a supply arrangement for more than 1GW of hydrogen, which is expected to produce roughly 230,000 tonnes of hydrogen yearly.

In October 2023, Johnson Matthey’s (JM) low-carbon (blue) hydrogen technology has been chosen by BP for their projected 1.2GW hydrogen production plant in the United Kingdom. The H2Teeside project, which is set to begin operations in 2028, aims to have a 1.2GW production capacity by 2030, generating hydrogen from North Sea natural gas and loading up to two million tonnes of carbon dioxide.

Global Blue Hydrogen Market: Competitive Landscape

The global blue hydrogen market is experiencing a competitive landscape that is evolving rapidly in response to the growing demand for clean and sustainable energy sources. Several well-established energy and industrial companies have taken a leading role in the development of blue hydrogen technologies. Companies such as Air Liquide, Linde, and Siemens Energy have invested heavily in blue hydrogen production and carbon capture and storage (CCS) infrastructure. The synergy between established industry leaders, emerging innovators, supportive government policies, and technological advancements is shaping a promising future for blue hydrogen market.

  • Air Products and Chemicals, Inc.
  • Aker Solutions
  • Aquaterra Energy Limited
  • BP p.l.c.
  • Dastur Energy
  • Eni S.p.A.
  • Equinor ASA
  • Exxon Mobil Corporation
  • Johnson Matthey
  • Linde plc
  • Petrofac Limited
  • Shell International B.V.
  • Technip Energies N.V.
  • Topsoe
  • Uniper SE
  • Other Industry Participants

Global Blue Hydrogen Market:

By Technology

  • Steam Methane Reforming
  • Auto Thermal Reforming
  • Gas Partial Oxidation

By End User

  • Petroleum Refinery
  • Chemical Industry
  • Power Generation
  • Others

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)

 

51 thoughts on “Global Blue Hydrogen Market To Witness Exponential Growth Due to Carbon Emissions Reduction Goals; says TNR”

  43. tubidy

    I need to to thank you for this fantastic read!! I definitely enjoyed every bit of it. I have you bookmarked to look at new stuff you post…

    Reply

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