Green Hydrogen: Paving the Way for Sustainable Transportation
Key Ideas
- The cost of green hydrogen production remains a challenge hindering widespread adoption in the transportation sector, but efforts to reduce costs show promise for future use.
- The COVID-19 pandemic has caused delays in the adoption of green hydrogen, impacting its commercial rollout, but leading economies are pushing forward in utilizing this sustainable energy source.
- Japan, China, South Korea, and Australia are key players in the green hydrogen market, with initiatives like the South Korean hydrogen roadmap and Australia's significant investment in renewable hydrogen.
- Recent developments, such as Ballard Power Systems and Linamar Corporation's hydrogen fuel cell-powered truck chassis concept, are driving innovation in the green hydrogen sector for sustainable transportation solutions.
The transportation sector plays a significant role in air pollution, driving the need for sustainable alternatives like green hydrogen. While the high production cost of green hydrogen currently hinders the competitiveness of fuel cell cars, efforts to reduce costs indicate a promising future for its widespread use in transportation. The global stock of fuel cell electric vehicles stood at 25,120 in 2019, with approximately 470 hydrogen refueling stations worldwide. By 2030, the number of refueling stations is expected to surpass 12,000, showcasing the potential for green hydrogen adoption.
The COVID-19 pandemic has impacted the global supply chain and slowed down the adoption and commercialization of green hydrogen. However, leading economies like Germany, the U.K., Spain, the Netherlands, China, and Japan continue to drive the use of green hydrogen across various sectors. Countries in the Asia-Pacific region, particularly Japan, China, South Korea, Australia, New Zealand, and India, are at the forefront of green hydrogen development, with significant investments in infrastructure and technology.
Key players in the green hydrogen market include Hydrogenics Ballard Power Systems, Engie, Enapter, Plug Power, Nikola Motors, and more. Recent developments, such as Ballard Power Systems and Linamar Corporation's hydrogen fuel cell-powered truck chassis concept, demonstrate ongoing innovation in the sector. Segmentation of the market by technology, application, end-use industry, renewable source, and distribution channel further highlights the diverse applications and potential of green hydrogen for a sustainable future.
Topics
Asia
Renewable Energy
Transportation
COVID-19 Impact
Segmentation
Regional Analysis
Recent Developments
Competitive Players
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