Demand for Hydrogen for Fuel Cells and Other Emerging Markets Will Climb Sharply Through 2030, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)--Historically, the hydrogen energy market has been centered on the petroleum refinery and chemical manufacturing sectors. Since 2011, however, interest in hydrogen for the energy storage market, combined with the rise in usage of hydrogen in the fuel cell sector, has seen increased utilization of hydrogen outside of petroleum refining and chemical manufacturing. This growth is expected to accelerate sharply over the next 16 years. Click to tweet: According to a recent report from Navigant Research, hydrogen consumption for non-traditional applications (i.e., outside the petroleum and chemical sectors) will grow from 168 million kilograms (kg) in 2013 to nearly 3.5 billion kg in 2030.
“Increased energy demand, requirements to use renewable energy, growth in the cleantech backup power market, and the deployment of a growing number of fuel cell-powered vehicles in the transport sector will all push overall demand for hydrogen as a fuel to unprecedented levels.”
“While hydrogen has historically been a valuable commodity gas, today, it is increasingly recognized as an important fuel and energy storage vector of the future,” says Kerry-Ann Adamson, research director with Navigant Research. “Increased energy demand, requirements to use renewable energy, growth in the cleantech backup power market, and the deployment of a growing number of fuel cell-powered vehicles in the transport sector will all push overall demand for hydrogen as a fuel to unprecedented levels.”
The stationary sector, primarily focused on providing backup and prime power to mobile telecommunications base stations, is expected to lead hydrogen demand through 2030, according to the report. This is due to the current levels of adoption, which are much higher than in any other sector, alongside a healthy projected growth rate for fuel cell power stationary systems. China and a number of African countries are already pushing for the adoption of fuel cells for their telecommunications networks, a high percentage of which run off hydrogen.
The report, “Market Data: Hydrogen Infrastructure”, analyzes the global market for hydrogen. It focuses specifically on hydrogen as a fuel for fuel cells, in both transport and stationary applications, commonly referred to as the power-to-transport and power-to-power vectors, respectively. The report also focuses on hydrogen in the evolving power-to-gas vector, as well as small-scale laboratory hydrogen through onsite production via electrolysis. Global market forecasts for hydrogen production, consumption, and revenue, segmented by sector, application, and region, extend through 2030. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Market Data: Hydrogen Infrastructure,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.