The Rise of Green Hydrogen: A Game-Changer in the Energy Transition
Key Ideas
- The green hydrogen market is projected to exceed $515.66 billion by 2035, with a remarkable CAGR of 61% from 2023 to 2035, highlighting its substantial growth potential.
- Green hydrogen plays a vital role in 'hard to abate' industries where traditional decarbonisation methods are less effective, offering a promising solution for challenging sectors.
- Embedding green hydrogen in key legislations, such as the EU's Renewable Energy Directives and the US Inflation Reduction Act, underscores its significance in shaping sustainable fuel futures, notably in aviation.
- Significant investments are ongoing in Europe and the US to develop green hydrogen technologies, indicating a strong commitment to fostering this sector's growth and impact on the energy landscape.
The rise of green hydrogen is touted as a game-changer in the evolving energy transition scene as the global push for decarbonisation gains momentum. Forecasts predict a substantial growth trajectory for the green hydrogen market, with expectations to surpass $515.66 billion by 2035, fueled by an impressive CAGR of 61% from 2023 to 2035. Particularly crucial for 'hard to abate' industries, where conventional decarbonisation methods fall short, green hydrogen emerges as a promising solution for challenging sectors. Its integration into legislative frameworks like the EU's Renewable Energy Directive II and III in Europe and the Inflation Reduction Act in the US signifies its pivotal role in shaping the future of sustainable fuels, notably in the aviation sector. Noteworthy investments are already in progress in Europe and the US aimed at advancing green hydrogen technologies, showcasing a dedicated effort to propel the growth and influence of this sector in the energy domain.
Topics
Projects
Renewable Energy
Investment
Energy Transition
Green Technology
Decarbonisation
Legislation
Industry Impact
Market Forecast
Latest News