Global Hydrogen Demand: Industry Set to Dominate by 2050
Key Ideas
  • Heavy industry sectors are projected to be the primary drivers of global hydrogen demand until 2050, with South Korea, Japan, and Europe emerging as the initial key markets.
  • The transition to green hydrogen production to meet future demand entails significant challenges, including the need for extensive renewable energy sources and infrastructure development.
  • Regulatory certainty and government support are crucial for accelerating the adoption of hydrogen in various sectors, with a particular focus on maritime transport as a facilitator of the hydrogen economy.
  • The report emphasizes the importance of establishing efficient production and transportation infrastructure, with the maritime industry playing a central role in linking hydrogen surplus regions with high-demand areas.
The International Chamber of Shipping (ICS) has released a report indicating that heavy industry sectors are poised to drive global hydrogen demand until 2050, with early markets in South Korea, Japan, and Europe. To meet an annual green hydrogen demand of 30 million tonnes, approximately 411 new hydrogen vessels would be necessary, alongside a renewable electricity capacity equivalent to South and Central America's combined production. The report underscores the pivotal role of clean hydrogen in decarbonizing challenging sectors and emphasizes the unprecedented scale of renewable energy needed for green hydrogen production. It also stresses the importance of regulatory support and infrastructure development to unlock the potential of hydrogen in various industries. Guy Platten, Secretary General of ICS, highlights the need for a substantial increase in hydrogen-based fuel sources to achieve net-zero emissions by 2050, with industry leading the demand. The report identifies South Korea, Japan, and the EU as key markets for driving early hydrogen demand, with Europe targeting 20 million tonnes of hydrogen annually by 2030. Additionally, the report points out the essential role of maritime transport in facilitating the hydrogen economy by connecting production and consumption regions. Professor Stefan Ulreich emphasizes the significance of infrastructure development, particularly in ports and transportation, to enable the growth of a hydrogen economy. The report advocates for coordinated efforts to address infrastructure challenges and highlights the potential for up to 411 new hydrogen vessels to meet the increasing global demand for hydrogen trade.
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