The Rise of Hydrogen-Capable Gas Turbines in the Power Generation Market
Key Ideas
  • Global revenue for hydrogen-capable gas turbines projected to surpass $7 billion by 2033, aiding in stabilizing power grids and supporting renewable energy integration.
  • Hydrogen-capable gas turbines expected to play a crucial role in reducing fossil fuel consumption in the power sector, with major manufacturers aiming to commercialize 100% hydrogen gas turbines by the 2030s.
  • Increasing policy support for hydrogen power generation in key markets like the U.S., Germany, Japan, and South Korea is driving the adoption of hydrogen-capable gas turbines.
  • Attendees interested in learning more about the market for hydrogen-capable gas turbines can register for Experience POWER Week in Orlando, Florida, scheduled for Oct. 9-11, 2024.
A recent report by Guidehouse Insights forecasts a significant growth in global revenue for hydrogen-capable gas turbines (HGTs), reaching over $7 billion by 2033. HGTs are recognized for their ability to mitigate the intermittency of renewable energy sources and provide grid stability. The report emphasizes the importance of dispatchable, low-carbon power generation technologies in the process of decarbonizing electricity systems. Global HGT capacity is expected to increase substantially, from 6,140 MW in 2024 to 16,234 MW in 2033, with a corresponding rise in revenue from equipment sales. The push to reduce fossil fuel consumption in the power sector is fueling interest in gas turbines that can operate on hydrogen or hydrogen-natural gas blends. Manufacturers are gearing up to enhance blend capabilities and introduce 100% hydrogen gas turbines by the 2030s, with support from policies promoting hydrogen power generation in key markets such as the U.S., Germany, Japan, and South Korea. The report provides insights into technical, commercial, and policy factors influencing the adoption of hydrogen-capable gas turbines over the next decade. Interested individuals can attend Experience POWER Week in Orlando, Florida, from Oct. 9-11, 2024, to delve deeper into this evolving market.
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