Expanding Horizons: Growth of Hydrogen Pipeline Market Leading to $25.7 Billion Projection by 2030
Key Ideas
- The Hydrogen Pipeline Market is estimated to reach $25.7 billion by 2030, experiencing a 16.0% CAGR from 2023, driven by increased hydrogen usage in various industries.
- Fixed pipelines, made of steel or plastic, are foreseen as the fastest-growing segment, ensuring efficient and cost-effective hydrogen transportation.
- Plastic & composites pipelines, known for corrosion resistance and flexibility, are advancing as a superior alternative to traditional metal pipelines in hydrogen transportation.
- The Middle East & Africa region is displaying rapid growth in the hydrogen pipeline market, acting as a global hub for hydrogen pipeline development.
The Hydrogen Pipeline Market is on a trajectory of substantial growth as per market research, with a projection to reach $25.7 billion by 2030 at a CAGR of 16.0% from 2023. This growth is attributed to the increasing utilization of hydrogen across industries like energy, transportation, and manufacturing, spurring the demand for elaborate pipeline networks. The sector is witnessing rapid evolution owing to hydrogen's versatility as a clean energy carrier, which is fueling infrastructure development.
Fixed pipelines, expected to be the fastest-growing segment, offer a long-term solution for hydrogen transportation. These pipelines, mainly made of steel or plastic, efficiently convey large hydrogen volumes at high pressure, minimizing transportation expenses. They are buried underground for durability and safety purposes and are crucial for distributing hydrogen from production facilities to end-users.
Plastic & composites pipelines are emerging as the top segment in the Hydrogen pipeline market by pipeline structure. Featuring exceptional corrosion resistance and lightweight construction, these pipelines are preferred for their adaptability to various terrains, simplifying installation and reducing costs. Their cost-effectiveness and compliance with safety standards position them as frontrunners in the evolving market.
The Middle East & Africa region is witnessing significant growth in the hydrogen pipeline market, establishing itself as a key player in global hydrogen infrastructure development. The region's abundance of renewable energy sources, increasing hydrogen demand, supportive government policies, existing oil and gas infrastructure, and strategic export location are driving this growth. Ongoing and upcoming projects exemplify the region's commitment to hydrogen pipeline development, propelled by technological advancements and environmental concerns.
Key players like Hexagon Purus and Tenaris are actively contributing to the hydrogen pipeline market. Hexagon Purus specializes in zero-emission mobility solutions, providing high-pressure cylinders and hydrogen fuel storage systems tailored for various applications globally. Tenaris, a prominent steel pipe manufacturer, offers a wide range of steel pipe products catering to the energy industry and other applications worldwide. Their contributions reflect the dynamic landscape and potential of the hydrogen pipeline market's growth.
Topics
South America
Renewable Energy
Infrastructure Development
Steel Industry
Market Research
Global Energy Transition
Zero-emission Mobility
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