Bosch has identified hydrogen as a megatrend – an area of the economy that is going to grow in significance exponentially in the coming decade. And the automotive supplier is investing accordingly.
At Bosch’s annual press conference in April, CEO Dr. Volkmar Dennar said he believed the green hydrogen market in the European Union (EU) will be worth almost €40bn ($48bn) by 2030, with annual growth rates of 65%. Declaring that Bosch is “already hydrogen-ready”, Denner confirmed Bosch will spend €1bn ($1.2bn) on hydrogen fuel cells over the next three years.
The investment push includes putting 100 stationary fuel cell plants into operation, which will supply electricity to users such as data centres, industrial manufacturers and residential areas. Bosch has already bought one stationary solid oxide fuel cell (SOFC) into operation at the end of March 2021 in Bamberg, Germany, together with public utility Stadtwerke Bamberg.
Bosch estimates the market for mobile fuel cell components will be worth around €18bn ($21bn) by the end of the decade.
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