The global hydrogen hubs market is anticipated to grow at a CAGR of 15.2% during the forecast period (2024-2031). The market growth is attributed to the increasing adoption of decarbonization and the transition to clean energy sources. Majorly hydrogen hubs are required in heavy industry, long-haul transport, and seasonal energy storage. According to the report published by the International Energy Agency (IEA) in July 2023, the demand for hydrogen will increase by more than 1.5 times and reach over 150 Mt by 2030, out of which around 30.0% will come from new applications.
Browse the full report description of “Hydrogen Hubs Market Size, Share & Trends Analysis Report by Industry (Automotive, Aviation, Marine, and Others), and by End-Users (Liquid Hydrogen and Hydrogen Fuel Cell), Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/hydrogen-hubs-market
The growing demand for decarbonized and clean energy in mobility & infrastructure is rising to combat challenges related to sustainable economic development. Various market players adopting a decarbonized ecosystem in transport, commerce and power, to drive sustainable growth. For instance, in June 2022, Airbus launched the Hydrogen South West consortium to accelerate decarbonising key industries such as shipping, aviation and housing as well as the industry. A group of nine leading organisations covering aerospace, shipping, hi-tech engineering and public utilities have come together to launch Hydrogen SouthWest.
Green hydrogen generated by the electrolysis of water using renewable power supports the decarbonization of the refinery’s operations, replacing its current use of ‘grey’ hydrogen generated from natural gas. The biofuels produced by the growing refinery contribute to the increasing demand for fuels with reduced carbon emissions, like sustainable aviation fuel (SAF). For instance, in February 2023, BP p.l.c. launched a green hydrogen cluster in the Valencia region to establish a gradual expansion of up to 2GW of electrolysis capacity at BP's refinery by 2030 for the production of green hydrogen.
To scale up hydrogen hub production that produces, processes, delivers, stores, or uses hydrogen from renewable energy resources. Market players are aiming to fulfill the upcoming demand for hydrogen. For instance, in October 2022, the State of California launched a Statewide Alliance to Establish a Federally Co-Funded Hydrogen Hub. The formation of the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES), a shared not-for-profit LLC public-private partnership designed to accelerate hydrogen’s contribution to decarbonizing the economy in California and beyond.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Industry
o By End-Users
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Air Liquide S.A., Air Products and Chemicals, Inc., Ballard Power Systems Inc., Linde plc., Siemens AG, and others.
Key questions addressed by the report
Global Hydrogen Hubs Market Report Segment
By Industry
By End Users
Global Hydrogen Hubs Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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