Global hydrogen sales to hit USD 50bn in 2030 - Navigant

Oct 30, 2013 - Hydrogen sales for fuel cell power and energy storage are forecast to increase to USD 49.8 billion (EUR 36bn) globally in 2030 from USD 1.3 billion in 2013, Navigant Research said on Tuesday.

The market analyst’s research director Kerry-Ann Adamson explained that the growth will come from increased power demand, government renewable energy rules and expansion in the cleantech backup power segment. The deployment of more fuel cell-powered vehicles in the transport sector will also contribute to boosting the overall demand for hydrogen. Meanwhile, the increasing availability of distributed electrolysis, low off-peak electricity prices, and cheap natural gas are improving the economics of the hydrogen market,” she added.

In its Market Data: Hydrogen Infrastructure report, Navigant suggests that fuel cell transportation, mainly light-duty fuel cell vehicles, will be one of the biggest markets for non-chemical or refinery hydrogen. The report, which provides an analysis of the global hydrogen market, is focused on hydrogen as a fuel for fuel cells in both transport and stationary applications, as well as hydrogen in the evolving power-to-gas vector and small-scale laboratory projects.

(USD 1.0 = EUR 0.728)

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