Hydrogen Economy: Hype or Potential Reality?

PALO ALTO, Calif.--(BUSINESS WIRE)--Exciting innovations take place in hydrogen production and storage technologies as countries across the world realize the need to identify alternate and self-sustaining sources of energy. This need is caused by spiraling oil and gas prices, along with mounting concerns about greenhouse gas emissions.

“Increasing industry-academia collaborations and industry-government partnerships are a clear indication of the promising developments that lie ahead.”

New research from Frost & Sullivan (http://www.ti.frost.com), Innovations in Hydrogen Production and Storage Technologies, finds that significant developments take place in the field of hydrogen production and storage technologies. These developments expect to achieve commercialization and enter the market in a reasonably short time.

“Governmental initiatives such as the Hydrogen Fuel Initiative in the United States and various projects in the European Union also help to accelerate active R&D in hydrogen technologies,” notes Frost & Sullivan Senior Research Analyst Naveen Sundar. “Increasing industry-academia collaborations and industry-government partnerships are a clear indication of the promising developments that lie ahead.”

Currently, the dominant hydrogen production technology is reforming natural gas due to cost advantages over electrolysis and other renewable technologies. However, renewable technologies attract tremendous interest with companies that use readily available and renewable sources of energy such as solar, biogas and biomass to produce hydrogen in large quantities.

Research on hydrogen storage technologies is equally dynamic. Some companies improve the current cylindrical and tank storage media using novel materials and increased compression, while others develop newer complex hydrides and nanomaterials-based storage. The industry expects these newer technologies to achieve commercialization fairly soon and compete against current technologies in the near future.

Both production and storage technologies face several challenges that must be overcome before the hydrogen economy becomes an achievable reality. Cost is perhaps the biggest challenge and has a major role in determining which technologies will dominate and which will take time to achieve commercialization.

This explains why less expensive techniques such as reforming will continue to lead production technology in the near future, while renewable technologies will take a long time to achieve mass market adoption despite generating huge interest. Similarly, chemical hydrides and other novel nanomaterial storage media undergo extensive research, but it will take some time before they are used in commercial applications.

Infrastructural issues could also hinder technology development. Production and storage technologies should be developed in sync with each other and complemented by proper distribution networks to ensure synergistic growth across these technologies as opposed to isolated development. This calls for the development of a complete infrastructure using hydrogen in production, storage and distribution.

“To overcome the challenges associated with high costs, governments have released roadmaps and encourage public-private partnerships to ensure that hydrogen is accepted as a source of energy,” says Sundar. “These partnerships also help to alleviate the infrastructural issues that plague the hydrogen economy.”

Innovations in Hydrogen Production and Storage Technologies, part of the Technical Insights subscription, provides an overview of developments in hydrogen technologies such as electrolysis, biomass, complex hydrides and carbon nanotube technologies, along with an analysis of technology drivers, challenges and trends. It also provides an overview of major developments in key areas on a region-wise basis, as well as possible timelines for these technologies to reach the market. Interviews with the press are available.

If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the latest analysis Innovations in Hydrogen Production and Storage Technologies, then send an e-mail to Johanna Haynes, Corporate Communications, at [e-mail] with the following information: your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information via e-mail upon receipt of the above information.

Technical Insights is an international technology analysis business that produces a variety of technical news alerts, newsletters and research services.

Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan’s Growth Partnerships, visit http://www.frost.com.

Innovations in Hydrogen Production and Storage Technologies

D0AA