Rapid Growth and Challenges in the Global Green Hydrogen Market
Key Ideas
- The global green hydrogen market is projected to grow from US$ 161.05 billion in 2024 to US$ 222.15 billion by 2050, with a CAGR of 39% fueled by technological advancements and government support.
- China leads in electrolyser capacity, with plans to increase production that could result in 38 million tonnes of low-emission hydrogen by 2030, but only 4% of this potential production has final investment decisions.
- Manufacturers aim to expand electrolyser manufacturing capacity to 155 gigawatts per year by 2030, but only 8% of this capacity has reached a final investment decision, showing potential for significant future growth.
- Despite challenges like high production costs and infrastructure bottlenecks, ongoing advancements in electrolysis, storage solutions, and transportation methods, along with government and private sector support, indicate a positive outlook for green hydrogen's role in global decarbonization efforts.
The global green hydrogen market is on a rapid growth trajectory, with a value of US$ 161.05 billion in 2024 expected to reach US$ 222.15 billion by 2050, growing at a CAGR of 39%. This growth is driven by technological advancements, government policies, and the increasing demand for sustainable energy solutions. China leads in electrolyser capacity, with plans to significantly increase low-emission hydrogen production by 2030, but challenges such as investment decisions and infrastructure remain. Manufacturers are looking to expand capacity, showing potential for substantial growth. Despite hurdles like high production costs and regulatory uncertainties, advancements in technology and support from various sectors indicate a positive future for green hydrogen in global decarbonization efforts.
Topics
South America
Government Policies
Technology
Sustainability
Infrastructure Challenges
Energy Solutions
Market Growth
Regulatory Frameworks
Industry Applications
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