Global demand for hydrogen is on the rise. For one, Raymond James’ analyst Michael Glen, for example, just said 2021 could be a “watershed moment” for hydrogen. In fact, he expects to see far more hydrogen-related announcements going countries all around the world.
Two, look at China for example. By 2050, it’s expected that demand will exceed 180 million tons, according to Global Times. “The China Hydrogen Alliance predicts that by 2025, the output value of China’s hydrogen energy industry will reach 1 trillion yuan ($152.6 billion) and by 2030, China’s demand for hydrogen will reach 35 million tons, accounting for at least 5 percent of China’s terminal energy system,” they added.
Three, by 2027, the market could be worth up to $300 billion, says Global Market Insights. Four, according to the Clean Hydrogen Future Coalition, “Clean hydrogen has the ability to accelerate decarbonization across all sectors of our economy, as well as transition existing – and create new – skilled, high wage jobs needed to support the clean energy transition. In addition to the wide range of market applications and potential for significant future demand, clean hydrogen can be produced from a variety of energy sources, used as a replacement fuel or feedstock in several industries, store energy over long periods of time, as well as move and deliver energy to where it is needed.”