Emerging Hydrogen Production Technologies are Expected to Experience a 20% Compound Annual Growth Rate from 2020-2029
Electrolyzers, solid oxide electrolysis cells, and biomass gasifiers are expected to play a key role as emphasis for decarbonization and renewables integration increases
A new report from Guidehouse Insights analyzes the global market for emerging hydrogen production technologies, providing forecasts for capacity and revenue through 2029.
There has been much discussion over the past several years of how hydrogen can aid the energy transition. Four emerging technologies—alkaline electrolyzers (AES), proton exchange membrane (PEM) electrolyzers, solid oxide electrolysis cells (SOECs), and biomass gasifiers—are expected to move the market forward as decarbonization becomes increasingly important and costs for green hydrogen (or hydrogen produced with no emissions) decline. Click to tweet: According to a new report from @WeAreGHInsights, the global capacity for emerging hydrogen production technologies is expected to reach approximately 1 GW annually by 2029, representing a compound annual growth rate (CAGR) of 20.2%.
“As countries and economies develop plans for decarbonization, hydrogen is being recognized as a potential tool for a variety of reasons,” says Shayne Willette, research analyst with Guidehouse Insights. “Currently, only 1%-4% of hydrogen is produced with clean production technologies, but with greater emphasis on decarbonization, increasing renewables integration, and decreasing capital costs, emerging clean hydrogen production technologies are poised to play a key role going forward.”
According to the report, AES, PEM, and SOECs can use renewable electricity to produce green hydrogen, while biomass gasifiers can use otherwise carbon-emitting feedstocks such as municipal solid waste (MSW) to achieve the same result. Although most hydrogen is used in the industrial sector, significant demand growth is expected in the mobility sector due to expansion in the fuel cell vehicle (FCV) market as well as in hydrogen storage.
The report, Emerging Hydrogen Production Technologies, analyzes the global market for these emerging hydrogen production technologies based on geographic region and the different technologies. The study provides an analysis of current market issues, opportunities, drivers, and barriers for these emerging hydrogen production technologies. Global market forecasts for capacity and revenue extend through 2029. An executive summary of the report is available for free download on the Guidehouse Insights website.
*The information contained in this press release concerning the report, Emerging Hydrogen Production Technologies, is a summary and reflects the current expectations of Guidehouse Insights 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 Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.