Market drivers include the decarbonization potential of hydrogen, growing demand for green hydrogen, and international hydrogen trade
BOULDER, Colorado, July 14, 2022 /PRNewswire/ — A new report from Guidehouse Insights explores the market potential for hydrogen transportation and delivery technologies. It covers hydrogen transport environments, including pipeline, ship and road.
With the expected global demand for all forms of hydrogen expected to double by 2030 and roughly quintuple by 2050 relative to demand in 2020, the infrastructure for its production, transport, distribution and storage must also increased. Integral to this growth is the low-cost production of low-carbon hydrogen, which requires cheap renewable energy resources or access to carbon capture and storage infrastructure. According to a new report by Guidehouse Insights, the global hydrogen transportation development market is expected to grow at a compound annual growth rate (CAGR) of 19.8%, from approximately 4.5 Mt H2 in 2022 to 22.8 Mt H2 until 2031
“Hydrogen transport infrastructure is needed to ensure that hydrogen produced in one region can be delivered to a point of demand in another, and is imperative to facilitate global trade,” says Shantanu Chakraborty, senior research analyst at Guidehouse Insights. “The decision whether to choose pipelines or ships or both will depend on the distance between the two countries involved in the trade and the amount of hydrogen to be transported.”
Factors such as the amount of hydrogen to be delivered, the availability of existing infrastructure, and the cost-effectiveness of the transport technology govern the choice of hydrogen transport medium. The need to expand hydrogen transportation infrastructure is supported by the decarbonization potential of hydrogen, the growing demand for green hydrogen, the ability to reuse existing infrastructure or networks, and the growth of international hydrogen trade, according to the report.
the report, Transport and supply of hydrogen, analyzes the market potential for hydrogen transportation and delivery technologies. It describes the state of the emerging hydrogen economy and the potential growth of its infrastructure. The report covers North America, Europe, Asia and the Pacific, Latin Americaand Middle East and Africa and includes a 10-year outlook to 2031. It also provides insight into the market drivers and barriers and technological trends in the Hydrogen Transportation and Delivery Technologies market. A summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, Guidehouse’s specialist market intelligence unit, provides research, data and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are based on in-depth analysis of the global cleantech markets. The team’s research methodology combines supply-side industry analysis, primary end-user research and demand assessment combined with in-depth research on technology trends to provide a comprehensive view of emerging sustainable infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
Guidehouse is a leading global provider of advisory services to the public sector and commercial markets, with broad capabilities in governance, technology and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and address significant regulatory pressures by focusing on transformational change, business sustainability and technology innovation. Across a range of consulting, advisory, outsourcing and digital services, we create scalable, innovative solutions that help our clients outsmart complexity and position them for future growth and success. The company has more than 13,000 professionals in over 50 locations worldwide. Guidehouse is a Veritas Capital portfolio company led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release about the report, Transport and supply of hydrogen, is a summary and reflects Guidehouse Insights’ current expectations based on market data and trend analysis. Market projections and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or report. Please see the full report for a full 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 the information contained in this press release or report.
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SOURCE Guidehouse Insights