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market-report-hydrogen-insights-2022
market-report-hydrogen-insights-2022

Market Report: Hydrogen Insights 2022

The urgency to invest in mature hydrogen projects today is greater than ever. Climate change must be addressed, urgently. It is clearer than ever that climate change urgently needs to be addressed, as highlighted in the most recent IPCC report published in May 2022.

Stakeholders are making commitments to curb emissions rapidly: 131 countries covering 90% of global GDP have introduced Net Zero targets1, and 46 countries have implemented or announced carbon dioxide emissions pricing or trading schemes. Globally, 40 national hydrogen strategies have been announced as countries set pathways to tap into hydrogen’s potential to decarbonise, ensure energy security, and spur sustainable economic growth from stranded energy resources. Stakeholders from governments to industries to consumers themselves increasingly recognise that hydrogen is needed to achieve Net Zero emissions.

The energy system needs hydrogen. Hydrogen can accelerate the energy transition by allowing clean energy to be stored and large volumes to be transported over long distances via pipelines and ships. It can foster greater resilience, cost-efficiency, and optimisation at a system level. Hydrogen is a versatile, clean2 molecule that plays multiple roles across end-uses and goes hand-in-hand with other decarbonisation levers such as direct electrification, carbon capture and storage, biofuels, and energy efficiency measures.

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