Traditionally, the hydrogen energy market has been centred on the petroleum refining and chemical manufacturing sectors. However, since 2011, interest in hydrogen for the energy storage market, combined with the rise in usage of hydrogen in the fuel cell sector, has seen increased utilisation of hydrogen outside the petroleum refining and chemical manufacturing sectors. This growth is expected to continue over the next 16 years and according to a new report from Navigant Research, hydrogen consumption for non-traditional applications is expected to grow from 168 million kg in 2013 to nearly 3.5 billion kg in 2030.
Comments on the hydrogen market
Kerry-Ann Adamson, research director with Navigant Research said, ‘while hydrogen has historically been a valuable commodity gas, today, it is increasingly recognised as an important fuel and energy storage vector of the future. 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.’
‘Market Data: Hydrogen Infrastructure’ analyses the global market for hydrogen. The report focuses 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. The report also looks at hydrogen in the evolving power to gas vector as well as small scale laboratory hydrogen.
Adapted from a press release by Claira Lloyd.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/14022014/hydrogen_for_fuel_demand159/