Pink Hydrogen Market Growth and Global Investments in Nuclear Advancements
Key Ideas
  • The global pink hydrogen market is projected to grow from US$ 277 million in 2024 to US$ 8,082 million by 2033, with a CAGR of 52.30%.
  • Nuclear-powered electrolysis is driving the creation of pink hydrogen, which is becoming a key low-carbon solution for various applications.
  • Numerous countries and industries, including logistics giants like Walmart and refining companies like Indian Oil, are actively investing in pink hydrogen to achieve decarbonization goals.
  • International confidence is shown through the retrofitting of 12 nuclear reactors with hydrogen production systems and the focus on advancing high-temperature steam electrolysis technologies.
The pink hydrogen market is experiencing significant growth due to advancements in nuclear technology and the push towards decarbonization goals. Valued at US$ 277 million in 2024, the market is forecasted to reach US$ 8,082 million by 2033, with a remarkable CAGR of 52.30%. Pink hydrogen, produced through nuclear-powered electrolysis, is gaining traction as a low-carbon solution for various applications. Major players such as Walmart, FedEx, Coca-Cola, and Indian Oil are actively transitioning towards pink hydrogen, with Indian Oil aiming to replace 200,000 metric tons of traditional hydrogen with low-carbon alternatives. Countries like Japan are targeting significant hydrogen consumption by 2030, with other nations like the United States, France, and Canada integrating pink hydrogen to diversify their clean energy portfolios. The integration of pink hydrogen is not limited to specific industries, as around 3,000 industrial facilities are exploring the partial replacement of fossil fuels with hydrogen to reduce global emissions. Furthermore, 12 nuclear reactors globally have been retrofitted with dedicated hydrogen production systems, showcasing a strong international commitment to incorporating hydrogen production within nuclear infrastructure. The pink hydrogen market also sees a surge in corporate adoption, with 25 major corporations including pink hydrogen in their sustainability roadmaps. Additionally, over 100 patents have been filed to enhance high-temperature steam electrolysis and related technologies, indicating the rapid evolution of pink hydrogen from a niche technology to a fundamental component of future energy systems.
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